JackMac4

And it'll cost you - I pay $120 every 6 months for 7k in extra coverage. It's worth it for a total, but once it's paid off I'll probably drop the additional coverage. My insurance costs $720 every 6 months currently, but $120 is just for the extra coverage, somewhat high percentage IMO.

Just wanted to give some perspective. I think the biggest factor in whether you could do this or not is whether you have yours paid off. Some banks would possibly not allow you to do this to your vehicle as long as they have a lien.

camaroguy

Of course if it ever happens you will be screwed now. They will probably try and put you in prison for insurance fraud because of this post.

x No Compromise Offroad x

I pay $180 a month for an '09 Rubi (regular full coverage) and an '08 X (with $70,000 full coverage) this is with Gieco, very mod friendly in my opinion

captjay

where is the fraud, im asking a real world question. i can call them and ask the exact same thing but i wanted to get opinions from the guys who have been into jeepin for many years, not some pencil pushing paper secretary who has never filed an insurance claim in their life at the agency office. well there is no fraud if the engine hydros and i upgrade payin the diference out of pocket. now if they could prove that i purposely ran into water and hydroed the engine, yea i could see fraud.

but hey thanks for your thoughtful input on the question at hand, you have truly opened my eyes to world around us.
and id bet you would be the guy to report me huh?

camaroguy

Not me! Seriously though, what I was implying is that if you ever did hydrolock your engine, they would say you did it intentionaly after reading this post. Dont know what to tell you, I work in Law Enforcement and it has turned me into a negative person. Always looking for the bad in everything/everyone.

x No Compromise Offroad x

fraud would be setting fire to your jeep, and then claiming it already had a HEMI ....not from experience of course

captjay

oh you guys are hilarious!!

i was just curious thats all when i asked the question. by all means im not going to go out and do it. i am just hearing lately on peole hydrolocking the engine so it just got me to thinking if it happened to me, could i do the swap.

i do appreciate the replies and jokes, its all good, no worries

edit: oh and how would the insurance people know about this post? do they troll these posts looking for stuff like this or something?

CerOf

Yes, we do troll.

Some of us are multi-line adjuster's that work for international adjustment firms.

Some of us are called upon by many large, national insurance carriers and all others in between.


In the last two weeks I've done work for Allstate, State Farm, Farmers, Lloyd's of London, Balboa, ZC Sterling, Horace Mann, Nationwide (through some of their subsidiaries, and tons of others that most of you have never even heard of. =)


I've got my eye on each of you.


As said above, if you own the vehicle outright, they'll cut you the check if you request. They have to do this legally. What you do with the $$ is up to you. Please note there is a national data base where most insurance companies log vehicle accidents and EVERYTHING about the accident can be seen, injuries, attorney's, info on the damaged parts of the vehicle.

If there is a lienholder and the insurance company is going to issue payment to the lienholder, you can work the deal with the body shop. Just make sure the body shop is on-board about your paying the difference for upgrades UP FRONT or they might not do it. Body shops often only want to do the "easy" thing.

example:

Payment made to the lienholder:

Lienholder confirms repairs made with body shop and signs over check to body shop.


As long as repairs are made to substantially get the vehicle to the same condition (value) just prior to the loss, it should be a-okay.


Obviously some insurance companies don't cover all upgrades, but most, I believe, do.

If it is permanently attached to the vehicle, bolted down, it is usually covered. Just be careful if the items increase the value (cost) of the repairs. At the end of the day they will only cover the cost of the repairs up to the actual cash value of the vehicle. If it gets close, they'll total it out and won't necessarily consider your modifications.

The insurance agent above in this thread seems like he knows his stuff....but know that many agent's DON"T know their stuff. Get EVERYTHING in writing.


Above all else: READ YOUR POLICY!!!! (not just your car, but your home, boat, business, and other toys) I'd guess about 1 in 100 Americans have read their policy.

captjay

ooooooooooooooooooooohhhhhhhhhhhhhhhhhhhhh im shakin in my boots now!!

he has his eyes on us

in all seriousness, cerof, i really do appreciate the response, little long winded but certainly imformative. IF this situation ever arrises i would definitly check into everything to make sure it is all legit. if i could not get the upgrade then ohwell, atleast the engine would be covered, which my agent says im covered.

now this brings me to another question
for the insurance people, im not trying to start a debate or argument, but couldnt you start running into privacy laws if something was posted here and u the agent used it against someone, or since this is a public forum is privacy out the window?

CerOf

You would not run into privacy laws. You do not have a reasonable expectation of privacy with a post made on this forum.

The information would be copied from this website and most likely referred to the NICB (National Insurance Crimbe Bureau) with any other supporting information.

Most insurance adjuster's are too busy to search for things like this on a forum, but some adjuster's love busting people who are bent on defrauding their insurance company.

Most major insurance companies have "SIU" units (Special investigation units) who will do extensive checks into you and your claim beyond the normal investigation if they catch a whiff of fraud. You typically won't even know really it is being done.


A private message may have some leg to stand on but would require an attorney to litigate and most things would settle before then.