Insurance & Mods
03-20-2008, 08:30 PM
#1
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2002 BMW R1150R. Red, Corbin, PIAAs, Fiamm,
When getting mods such as The Dinan re-map or the Juice Box, do you or don't you let your insurance company know?
Here's the dilemma as I see it:
I carry a hefty policy and wouldn't want to find out that it was void when I needed it because of a mod I did.
They asked if I intended to modify when I bought my policy, I said no. Which was true at the time. So am I in breach if I change my mind, modify and dont inform them?
I had a previous bad experience when I learned that my Geico Motorcycle policy rental rider only covered rental MOTORCYCLES.
I only found out after totaling a rented Volvo Cross Country in Northern California.
I did have the conversation with the rep when buying the policy, the monkey just didn't fully understand why I was buying 500K liability on a motorcycle, I was trying to cover rentals as I intended not to have a car for a year and knew I would be renting on a regular basis. I would always decline coverage at the rental, thats how sure I was that I was covered.
Luckily my business owners insurance and Amex paid for all damages.
So what to do? What do you guys think?
Here's the dilemma as I see it:
I carry a hefty policy and wouldn't want to find out that it was void when I needed it because of a mod I did.
They asked if I intended to modify when I bought my policy, I said no. Which was true at the time. So am I in breach if I change my mind, modify and dont inform them?
I had a previous bad experience when I learned that my Geico Motorcycle policy rental rider only covered rental MOTORCYCLES.
I only found out after totaling a rented Volvo Cross Country in Northern California.
I did have the conversation with the rep when buying the policy, the monkey just didn't fully understand why I was buying 500K liability on a motorcycle, I was trying to cover rentals as I intended not to have a car for a year and knew I would be renting on a regular basis. I would always decline coverage at the rental, thats how sure I was that I was covered.
Luckily my business owners insurance and Amex paid for all damages.
So what to do? What do you guys think?
03-20-2008, 08:50 PM
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I've never heard of an insurance company asking if someone intends to mod a car, that sounds a bit unusual. But so be it.
That notwithstanding, you need to read your policy. If the terms of your policy require you to notify them of any material modifications (presumably such terms are defined), then there would be no question in my mind.
Regarding the motorcycle policy, I'm a little confused as to why you presumed it covered anything besides motorcycles? I would also presume that the reverse would be true, that a car insurance policy would not cover rental motorcycles.
That notwithstanding, you need to read your policy. If the terms of your policy require you to notify them of any material modifications (presumably such terms are defined), then there would be no question in my mind.
Regarding the motorcycle policy, I'm a little confused as to why you presumed it covered anything besides motorcycles? I would also presume that the reverse would be true, that a car insurance policy would not cover rental motorcycles.
03-20-2008, 09:08 PM
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Steptronic, Full Aero Kit, 35% Tints. 18" Run Flats.
All the goodies short of Active Cruise, Comfort Access and the safty options.
2002 BMW R1150R. Red, Corbin, PIAAs, Fiamm,
Originally Posted by JSpira' post='548472' date='Mar 21 2008, 12:50 AM
I've never heard of an insurance company asking if someone intends to mod a car, that sounds a bit unusual. But so be it.
That notwithstanding, you need to read your policy. If the terms of your policy require you to notify them of any material modifications (presumably such terms are defined), then there would be no question in my mind.
Regarding the motorcycle policy, I'm a little confused as to why you presumed it covered anything besides motorcycles? I would also presume that the reverse would be true, that a car insurance policy would not cover rental motorcycles.
That notwithstanding, you need to read your policy. If the terms of your policy require you to notify them of any material modifications (presumably such terms are defined), then there would be no question in my mind.
Regarding the motorcycle policy, I'm a little confused as to why you presumed it covered anything besides motorcycles? I would also presume that the reverse would be true, that a car insurance policy would not cover rental motorcycles.
The question of weather I was going to make modifications was one of the first they asked me.... the last 3 time I bought insurance.
The reason I assumed the motorcycle policy would cover me is 2 fold.
1) The policy technically covers me. Not my vehicle when I am renting, otherwise it wouldn't work at all.
2) This was a specific conversation I had with the person who sold me the policy, but he didnt understand what I was asking him or he was more likely misreading the policy.
As a matter of fact, they had to go through 3 seperate people to confirm that I was not covered. I might have fought it if my other policies didn't cover me.
03-20-2008, 09:22 PM
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Originally Posted by gene1' post='548476' date='Mar 20 2008, 10:08 PM
The question of weather I was going to make modifications was one of the first they asked me.... the last 3 time I bought insurance.
The reason I assumed the motorcycle policy would cover me is 2 fold.
1) The policy technically covers me. Not my vehicle when I am renting, otherwise it wouldn't work at all.
2) This was a specific conversation I had with the person who sold me the policy, but he didnt understand what I was asking him or he was more likely misreading the policy.
As a matter of fact, they had to go through 3 seperate people to confirm that I was not covered. I might have fought it if my other policies didn't cover me.
The reason I assumed the motorcycle policy would cover me is 2 fold.
1) The policy technically covers me. Not my vehicle when I am renting, otherwise it wouldn't work at all.
2) This was a specific conversation I had with the person who sold me the policy, but he didnt understand what I was asking him or he was more likely misreading the policy.
As a matter of fact, they had to go through 3 seperate people to confirm that I was not covered. I might have fought it if my other policies didn't cover me.
03-20-2008, 11:10 PM
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Jon, regarding insurance companies asking about modifications -- some do, in fact mine just did when I added the 550i to my policy. Since I haven't and don't plan to modify the car, I didn't mind and failed to ask what difference it would have made... but it only makes sense to me they may ask that for high HP/weight cars that are frequently modified.
Cal
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03-20-2008, 11:11 PM
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My Ride: 2008 Space Gray 550i, Light Poplar Wood, Anthracite Head Liner, Sport Package, Sport Automatic Transmission, Cold Weather Package, Front Ventilated Comfort Seats in Black Nasca Leather, NAV, HUD, Active Steering, Comfort Access, Night Vision, Lane Deviation Warning, Active Cruise Control, Heated Rear Seats, Folding Rear Seats, Power Shade w/ Rear Side-Shades, Rear Air Bags, Logic 7, HD Radio, Sirius Satellite Radio, iPod/USB Adapter. Car in BMW Body Shop, estimated completion 01/24/07.
Jon, regarding insurance companies asking about modifications -- some do, in fact mine just did when I added the 550i to my policy. Since I haven't and don't plan to modify the car, I didn't mind and failed to ask what difference it would have made... but it only makes sense to me they may ask that for high HP/weight cars that are frequently modified.
Cal
Cal
03-20-2008, 11:11 PM
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My Ride: 2008 Space Gray 550i, Light Poplar Wood, Anthracite Head Liner, Sport Package, Sport Automatic Transmission, Cold Weather Package, Front Ventilated Comfort Seats in Black Nasca Leather, NAV, HUD, Active Steering, Comfort Access, Night Vision, Lane Deviation Warning, Active Cruise Control, Heated Rear Seats, Folding Rear Seats, Power Shade w/ Rear Side-Shades, Rear Air Bags, Logic 7, HD Radio, Sirius Satellite Radio, iPod/USB Adapter. Car in BMW Body Shop, estimated completion 01/24/07.
Jon, regarding insurance companies asking about modifications -- some do, in fact mine just did when I added the 550i to my policy. Since I haven't and don't plan to modify the car, I didn't mind and failed to ask what difference it would have made... but it only makes sense to me they may ask that for high HP/weight cars that are frequently modified.
Cal
Cal
03-20-2008, 11:11 PM
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My Ride: 2008 Space Gray 550i, Light Poplar Wood, Anthracite Head Liner, Sport Package, Sport Automatic Transmission, Cold Weather Package, Front Ventilated Comfort Seats in Black Nasca Leather, NAV, HUD, Active Steering, Comfort Access, Night Vision, Lane Deviation Warning, Active Cruise Control, Heated Rear Seats, Folding Rear Seats, Power Shade w/ Rear Side-Shades, Rear Air Bags, Logic 7, HD Radio, Sirius Satellite Radio, iPod/USB Adapter. Car in BMW Body Shop, estimated completion 01/24/07.
Jon, regarding insurance companies asking about modifications -- some do, in fact mine just did when I added the 550i to my policy. Since I haven't and don't plan to modify the car, I didn't mind and failed to ask what difference it would have made... but it only makes sense to me they may ask that for high HP/weight cars that are frequently modified.
Cal
Cal
03-21-2008, 04:00 AM
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My Ride: 2008 Space Gray 550i, Light Poplar Wood, Anthracite Head Liner, Sport Package, Sport Automatic Transmission, Cold Weather Package, Front Ventilated Comfort Seats in Black Nasca Leather, NAV, HUD, Active Steering, Comfort Access, Night Vision, Lane Deviation Warning, Active Cruise Control, Heated Rear Seats, Folding Rear Seats, Power Shade w/ Rear Side-Shades, Rear Air Bags, Logic 7, HD Radio, Sirius Satellite Radio, iPod/USB Adapter. Car in BMW Body Shop, estimated completion 01/24/07.
What was that?! A server brain fart? Seems like I'd at least get extra post credits for that kind of goof.
