After an accident, most insurance companies include the use of spare parts in their repair estimates. Replacement parts that you install yourself as a vehicle modification may also be covered up to a certain limit in a standard auto insurance policy. If you need more coverage for your vehicle's custom parts, you can consider purchasing additional coverage. Many insurance companies offer “customized coverage for parts and equipment” to protect their modifications if they are damaged in an accident.
If you have comprehensive auto and collision insurance coverage, you'll usually be covered for tire damage if it's the result of an accident or something unexpected, such as theft or vandalism. Adding additional coverage for modifications will almost certainly increase your premium, so be sure to discuss this with your auto insurance representative. This is because if someone files a claim against you, your car insurance company may deny it if they discover that the car was modified without your knowledge. OEM parts coverage is typically available for motorcycles, but many insurers don't offer OEM coverage for cars.
This means that the amount that will be paid to you if you lose the entirety of your modified car will be the value agreed between you and your insurer. Stephanie Nieves was an editor and insurance expert at Policygenius, where she covered home and auto insurance. However, in some cases, vehicle modifications can lower your car insurance premium if they add additional safety features to your car. If you have an accident and your car is damaged or wrecked, you will be reimbursed according to the original version of the manufacturer of your car.
This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provision, limitation, or exclusion that is expressly stated in any insurance policy. Policies with agreed prices can increase your premium, but they can also save you money, since this type of policy pays the agreed value to replace your car if it is added up, unlike the actual cash value (ACV), which is the value of the car as determined by your insurer. If you want to replace parts of your vehicle due to a repair without the involvement of insurance or vehicle modifications, you will usually have two options: aftermarket parts or OEM (original equipment manufacturer) parts. Kara McGinley was a senior editor and licensed home insurance expert at Policygenius, where she specialized in homeowners and renters insurance.
If you modify your car with customizations, such as a paint job or a new stereo system, you will have to notify your insurance company to extend the coverage of the modifications. This type of car insurance coverage also applies if you or your family members are traveling as passengers in other vehicles or are hit by a car while walking or biking. When it comes to car insurance, your car insurance company will consider your car to be in the same condition as it was purchased. If you decide to file an auto insurance claim for damage caused by hitting a sidewalk, you'll need car collision coverage to cover the incident.
