Parts like the supersprint exhaust, eibach springs, clear corners w/ blue bulbs, jdm clear side markers, silver on silver badges (front/rear), full-size aero screen, voodoo titanium shifter w/ s2k logo don't add any value to the vehicle.

Your insurance company is offering you a settlement figure that includes an exhaust, springs side markers (regardless of OEM or Aftermarket) etc etc installed on the car.

I bet if you priced the OEM parts (OEM exhaust, springs, side markers, badges, aero screen, and shifter) individually their probably MORE expensive than the aftermarket parts if they had to be replaced. If you could prove that individually their more valuable you might be able to get a slighly higher settlement figure.

For example your supersprint exhaust cost you $1300 ....find out the cost of an OEM exhaust and use that figure as a basis of any increased value. I would bet that the OEM exhaust is probably pretty damn close in cost though.

 

OEM exhaust is under $500. $475 I believe is the figure I was quoted.

$27,500 is more than fair for a car with 20K miles on it. Take the money and go buy yourself an '03.

 

Is that how it works? Say you just bought the car and made 3 payments on it. Someone steals it the next day, so the insurance just gives you market value on it? Hm...if it worked that way, I think there could be so much scamming going on.

 

Technically you don't have a leg to stand on as you didn't tell the company about the mods and were not paying an insurance rate based on the "added" value. $27500 for an '01 is very good as they could give you a stock '01 S2000 replacement $24k or less. Try and bump them but don't be too disappointed if they stick with their original figure.

Good Luck,

 

Some insurance are more flexible about giving a LITTLE extra money on some aftermarket stuff. Be prepared to produce receipts. I know Allstate specifically states any equipment worth over $1k must be declared though.

My guess is you may get them up another $1k, but thats it. You always need to haggle the insurance adjusters.

 

I am sorry to hear of your theft. My friend is in LA right now on an internship and his Prelude- SH was stolen Tuesday night right out if his parking garage! He's distraught to say the least.
As for the mods, insurance will not cover almost any mods in any loss situation. Theft especially because they don't know if the parts were really on the car. At least in a total loss situation (car accident) you can see the parts as destroyed as they may be. Unless you declare your mods on the dec page of you policy your chances are not too good for recovering any more cash. As others have stated, 27.5 is not bad at all. Try to push for some more then take the money and run.

 

well, i had a 97 maxima and it was stolen last february. i had all the receipts for my mods too, nitrous, 18in. rims, system, radar, body kit, exhaust, rotors, coilovers. and they didnt cover shit. i was still financing the car and only owed $7,000 on it. so i only got back 7, instead of me gettin back 14

 

Why should the insurance companies cover you for things you're not paying a premium for? What the hell do they care that you spent additional money on the car? Unless you declared the items and were paying the "value added" premium then you don't have a leg to stand on. That's common sense...unless you think you should underpay your premium and they should overpay the settlement?

 

VTEC9000,

I'm sorry to hear about your situation. Could you please describe how your car was stolen (if you know)? Was it towed, or can the car really be hotwired despite the immobilizer? Where was it parked at the time? Did you have an alarm?

I'm trying to gauge the threat to my car, and figure out what additional preventative measures I should take. Thank you!

CB

 

So how are these people stealing cars with the immobilizer on them... ????