Thoughts on Stolen S's
05-13-2009, 12:36 PM
#21
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i paid for a $50k car OTD and if it gets stolen, i'll only be comped about 1/2 of that today (when i had no intention to sell in the first place). And, as a lot of people know on here, it's very frustrating and difficult to find a truly mint condition one (as a new toy or replacement) for a fair price.
As of the day I put the S2K in my name, the black book value of the car was $13,500 CAD for a MINT S2K per the Ministry's paperwork. Enough said. (Note, this is for a 2000 S2K)
05-13-2009, 01:43 PM
#22
Brand new S2k's have been reported to sell for as low as 25K (approx) in USD. 36K CAD to your door brand new. If my CR gets stolen, I will get paid more then what I paid for it (likely near 40 plus taxes). Hell it is desirable if the CR gets stolen. That is besides the point. I drive my cars without worry and get the full enjoyment out of them. It has and never will be a hassle for me to own any car because I have to worry about theft. The only reason I even have a 2 way alarm is because it wasn't much more over getting a two way remote starter which I needed.
I can understand if you have an old car that you would worry about theft form that point of view.
I can understand if you have an old car that you would worry about theft form that point of view.
05-13-2009, 02:07 PM
#24
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Originally Posted by s2000cr,May 13 2009, 05:43 PM
Brand new S2k's have been reported to sell for as low as 25K (approx) in USD. 36K CAD to your door brand new. If my CR gets stolen, I will get paid more then what I paid for it (likely near 40 plus taxes). Hell it is desirable if the CR gets stolen. That is besides the point. I drive my cars without worry and get the full enjoyment out of them. It has and never will be a hassle for me to own any car because I have to worry about theft. The only reason I even have a 2 way alarm is because it wasn't much more over getting a two way remote starter which I needed.
I can understand if you have an old car that you would worry about theft form that point of view.
I can understand if you have an old car that you would worry about theft form that point of view.
05-13-2009, 02:50 PM
#25
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I can understand if you have an old car that you would worry about theft form that point of view.
Do you think I'll get my money backfrom an insurance claim? Ya okie!!
We're missing the ball here. We're ultimately talking about 2 different types of people here.... those with a car who would get more out of an insurance claim than their depreciated cars value..... and those with a tonne of modifications (of any sort) where their car is worth maybe 1.5 to 3 times the black book value.
Those of you who "want" their POS ..... errr I mean car to be stolen or would get more out of their insurance than their car is worth obviously this post has nothing to do with your interests. Simply saying "don't worry" isn't good advice to those who have a lot invested in their car, whether it be monetary or not.
The actual theme of the post may have been unclear. The point was not to stop a theif from stealing our cars because I believe we all agree they will get it if they really want it. The point was to make the S2000 harder to steal so its not a "free meal". If our cars are harder to steal... theives would likely be less likely to steal them....
If they notice 90% of our members are:
- installing boomerangs - OH SHIT I gotta be careful.
- removing the audible alarm - OH SHIT, maybe an alarm is going off but I just don't know it.
- engraving our seats - OH SHIT, no point boosting the car cus it probably has the owners initials on it and I can't sell the seats !!
- installing fuel cutoffs - OH SHIT, the next car I jack might not start : /
- remove parking brake signal - OH SHIT, that method won't work anymore.
Obviously, if they notice we're doing these things they'll "smarten up"
Instead, we say "let them steal it, I'll get more money out of insurance"
.... next year everyone elses insurance goes up.
Then we wonder how our insurance is so high.
05-13-2009, 06:14 PM
#27
Oh please. Install all you want. Spend thousands even. When the car gets towed away, where did that investment go? Could have easily paid a deductible with that cost. I don't hope my car gets stolen. I love my car. If it did get stolen I would move on and get something better. It's life. Shit happens. Insurance makes sure you are prepared. If you have modifications, find an insurance company that will insure them. Putting them on without insurance is just dumb in my opinion.
05-21-2009, 06:44 AM
#29
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Originally Posted by s2000cr,May 13 2009, 09:19 PM
how smart can you be if you put on an expensive kit with no insurance for it?
Suspension or Engine Mods or Wheels? - "It's a race car. No insurance for you." or they send you to Facility as an underwriter which will be twice the premium, regardless of your driving record.
Even with a Body Kit or custom paint job they'll want an appraisal. It's only a bill or two and your premium will go up a bit though it will depreciate with the cost of the car, so unless you've done extensive mods it may not be cost beneficial to claim.
There are some modification friendly brokers/insurers but they are the extreme minority.
05-21-2009, 08:19 AM
#30
If that is the case, putting the mods on the first place is a huge risk especially if insurance will not cover them. To argue that since the premium will increase and you don't want to pay for it is stupid logic. How can you be upset that insurance will not pay out the cost of modifications if you are not willing to pay the premium for insurance that will cover the modifications? Obviously some of you will argue that the insurance company they are with will not cover modifications....so why not find one that does since there are some that do.
If you have no insurance for modifications added, you cannot be upset that insurance will not cover them. It is a risk you take by putting them on in the first place. Best thing to do is to be prepared with adequate insurance.
If you have no insurance for modifications added, you cannot be upset that insurance will not cover them. It is a risk you take by putting them on in the first place. Best thing to do is to be prepared with adequate insurance.