Re: Auto Insurance and Modifications? - Saab Performance Bulletin Board - Saabnet.com
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Re: Auto Insurance and Modifications?
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Posted by bb vign [Email] (more from bb vign) on Mon, 30 Oct 2006 10:01:56 Share Post by Email
In Reply to: Auto Insurance and Modifications?, RBatsch, Sun, 29 Oct 2006 11:18:34
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A simple answer to a complex question: If you make a "material misrepresentaion" to an insurer (e.g. some piece of information that they use in the underwriting process) which later ends-up being false, an insurer has the ability to void or rescind (in whole or in part) your policy. Rescission is an ugly process and one that is difficult for the insurer to succeed in accomplishing. However, long story short - better to be honest than try and sneak one by only to be later found to have lied which would make obtaining ongoing coverage nearly impossible.

As respects modding a car, if you want to get back what you put into it, the only guaranteed way is to find an insurer who will give you "agreed value" coverage. You tell them what you want the totalled value of the car to be and they write you a check for said amount (less the deductible) if the car is ever totalled.

Regards,

Derek


posted by 205.156.188...

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