insurance question

[e30pwr]

if I am looking at buying a car that has a turbo installed on it currently, not from factory. and I am going to only do liability is it a necessity that i tell the insurance company about the turbo and supporting mods and suspension work and all that jazz?

I'm trying to tell my dad that if I only get liability (cus the car isn't worth that much anyways) that i could recoup some of my money from just taking the hit on the actual car, and sell the parts off of it.

[Turf1600]

Are you buying the car to wreck it?

[devonjordan]

I think he means if/when he gets hit, he can get just as much money parting it, as the insurance co would give him totaling it.

If you are doing what turf says, you're a moron.

[e30pwr]

no, i'm not buying it to wreck it. my dad is thinking worst case scenario where short of the hand of god letting his wrath loose on me, there are half a million in medical bills from an accident that is my fault, that the insurance co will care that i have over 350rwhp and 375rwtq from the turbo and mods.

[e30s52]

Are you still in high school? if so you shouldn't have a fast car. It will get you in a lot of trouble.

[e30pwr]

I'm a graduating senior. personally, i have had more HP at my disposal before, and done fine. 67 mustang w/ 351 and 5spd, the new e92 coupe M3, a nicely modded foxbody witha fresh rebuild. and a perfect driving record, no tickets, never been pulled over.

Only reason my dad cares, is that I have paid for all my cars, clothes, and "events". So he doesn't want me not being able to cover insurance and throwing it on him

[Lyrred]

so ur a senior and u were able to buy all of those cars with your own money?
that post doesnt seem to be completely truthful imo

[pporcaro]

you don't have to tell them about all that stuff if you dont want to. at least here in RI. if they come look at the car after you wreck it and find out that you did all this illegal non-factory modding, in our state, by law, they wont give you market value when you total it, they will give you like $100 bucks. when they run the VIN number it will only come up with stock horse power and torque rating and vehicle weight ratios

With that said, unless the guy you're buying from is your best friend, don't by someone else's turbo project. you'll get it home and find out that it wasn't a garret turbo at all, but a shitty t3/t4 with massiv shaft play and leaking oil from every possible place you could imagine. just build your own damn turbo setup

[Kill The Noise]

Agreed. I'm calling bullshit.
Maybe you paid for the cars with money your parents gave you?

[Wh33lhop]

I get the feeling he means he has driven those cars, not that he has owned them.

[BlackSpeed66]

When it boils down to it, no - an insurance company will not care what you've done to the car. If the car is involved in a loss and subsequently totalled, aftermarket parts or mods may diminish the value of the car and the settlement you'll receive. If it doesn't diminish the value then repair/replacement/compensation for said parts will not be covered unless you have some sort of aftermarket parts coverage attached to your policy.

[e30pwr]

so ur a senior and u were able to buy all of those cars with your own money?
that post doesnt seem to be completely truthful imo

I get the feeling he means he has driven those cars, not that he has owned them.

this.

you don't have to tell them about all that stuff if you dont want to. at least here in RI. if they come look at the car after you wreck it and find out that you did all this illegal non-factory modding, in our state, by law, they wont give you market value when you total it, they will give you like $100 bucks. when they run the VIN number it will only come up with stock horse power and torque rating and vehicle weight ratios

With that said, unless the guy you're buying from is your best friend, don't by someone else's turbo project. you'll get it home and find out that it wasn't a garrett turbo at all, but a shitty t3/t4 with massive shaft play and leaking oil from every possible place you could imagine. just build your own damn turbo setup

it is a shops build. and i have a verbal that they will provide support for the tune after i buy it.

[92 mtechnic cabrio]

this.

it is a shops build. and i have a verbal that they will provide support for the tune after i buy it.

You should insist on written. Perhaps on the bill of sale.

[daniel]

the thing about liability only insurance is that they aren't insuring your car at all, they are insuring someone else's car if you are at fault in an accident. therefore, the cost of liability only is based on YOU and your driving record, not your car. the only time you are required to have full coverage is if there is a leinholder on your car (meaning you are still paying it off). if you had your 599 GTB Fiorano paid off, you could mod it, get 1000HP from it, and drive it around with liability insurance for $100 a month or whatever. once you get in an accident and it is your fault though, you are effed. liability only will only over the other person. if the other person is at fault, then everything is handled through their insurance.