Some questions about insurance.

Rajareits · **Postat:** 2008-11-03, 21:32

Got some questions.

If I got a nice car, with a custom paint job.
For example: this car - http://media.techeblog.com/images/creativework_.jpg

Now if someone crashes into me, the insurance should pay for all damages. But what about the paint job? These kind of paint jobs are all one of a kind, you can't just fix it? And what if I have a custom body kit too? If I'll do the paint job and bodykit all by myself, will the insurance just pay me whatever I ask from them?

Regards,
Reio.

Anthon · **Postat:** 2008-11-04, 08:53

In England we have to declare modifications, if an accident occurs, on a heavily modified car (of agreed value with insurance company) then the insurance company will give you the money of what the car is worth, none of the labour it cost to get it that way.

Ie.

If you bought a 3000GBP car
spent 20000GBP modifying it including labour

then you would probably get an agreed value by an insurance accessor for say 12000GBP

that way if the car was stolen, crashed, etc, they would give you no more, no less.

Its a very tricky situation in England as you have to declare EVERYTHING non stock, even aftermarket wheels, which most cars have now anyway. Although on the plus side, you do not have to include stereo items, as most insurance policies cover upto 1000GBP on any fully comprehensive policy.

Rajareits · **Postat:** 2008-11-04, 10:12

But if all the parts are made by me. How easy it is to make an agreement on how much my work cost?
I mean if I'll buy a bumper, let's say 100 GBP. But I'll modify it and spend a lot of time on it, thinking it now costs 1000 GBP (or whatever). Will the insurance agree with me? I think not. Do I need to explain them all the work and material cost or will they just say that the original one cost 100 GBP and that's what I'm getting?

Anthon · **Postat:** 2008-11-04, 19:20

Nope, you wil lstill need to agree a value with them

however

if you alter the chassis of the car, then it needs to be re-registered, and this counts as a kit car, for which insurance is incredibly cheap!

Rajareits · **Postat:** 2008-11-04, 19:44

Crap then.. :P

So in short talk, if I got enough money to build it, I have to have money to fix it from scrap again, no matter what.. That sucks.