RZRX7TT

Good Day my fellow Rotor Heads. I am in the process for declaring the value of my FD Rx7 after some big modifications, for Insurance Protection. I am wondering what methods you guys have taken and what the value you were able to Declare with all your Modifications and have it approved for protection by the Insurance Corporations. I am in Canada, so there are probably quite a few differences in the whole system. Our insurance corporation, formally known as ICBC has an application form known as "Registering Modified Vehicle" The form asks us to List all the modifications made on the vehicle with Photocopies of Reciepts or Invoices for proof. The 3rd step intails what I think would be the Marketed Value for the vehicle. The last part of the procedure is photos of the Car from the Side, Engine Compartment, and the Interior Including the Driver Side area. The marketed value of the vechile is what I wanted your guys opinions on and comparisons on what you guys have declared on your FD's . I am declaring the value to be about $45,000. I purchased the Car back in 2002, at a purchase price of $26,738. I have had the car for 7 years now, and I have invested another $20,000 dollars into the car, with Reciepts to back it up. Here is the break down on what It took to make 450RWHP at only 18Pounds on my Methanol injected FD.

Rebuilt, Heavily StreetPorted Motor with all the bearings, Rotor Housings, Corner Seals, New Belts, Side Seals, Corner Springs, Side Seal Springs, Apex Seals, bla bla bla, list goes on, $7,710.18 cents

TDO7 Turbo Charger $1,100.00
Manifold ss $650.00
Wastegate 45 $350.00
3.5inch Downpipe $350.00
Intercooler Flat V Mount with Custom Piping 1,500
Turbo Smart Blow off Valve $300.00
Intercooler Flat V Mount $1,500
1600 CC injectors $110.00
Fuel Rail $270.00
Fuel Pressure Regulator $300.00
ACT Clutch Kit $850.00
Koyo Race Radiator $512.00
Methanol Kit Digital $875.00
Custom Mini Battery with Custom Fabricated Tray $260.00
Turbo Bag $150.00
PPF $200.00
Mechanical Fuel Pressure guage $50.00
Electric TurboSmart Boost Controller $575.00
Used Reamemyia 3inch Mid with Catback Exhaust $250.00
Fender Roll $90 dollars per Fender $360.00 total
295/35 T1R Toyo Rear Tires $730.00
225/35 T1R Toyo FrontTires $580.00
AEM Wideband Gauge $330.00

There you have it, I am not sure if they need to know the Cost of Labour for putting in some of this stuff, let me know if its important to document it and I will add it in. For example

Removing the Trans and Reinstalling Trans for ACT Clutch 332.50
Labour to Build Fuel System 332.50
Labour to Build Engine 750.00
Labour to Port Engine 500.00

DriftDreamzSS

iTrader: (4)

I have mine insured for 40k. They requested the same photos, each side and front and back of exterior, interior and under hood. They also asked for a list of modifications, and to qualify for the declared value policy the car must be kept in a garage and there is a limit to how many miles you can put on it, so it wouldn't work for guys that daily drive, put lots of miles on their cars or park on the street. They probably wont include the labor of anything other than the porting and engine build stuff, atleast thats what the company Im using said, custom engine builds were about the only labor they would count as added value. But after sending the photos and the list of mods they didn't even question the 40k value and I pay about $70 a month for the policy but they said it should be cheaper when I turn 26 which is next month. I have mine with Rally insurance, which is very popular over on Supra forums, never been able to figure out why FD owners dont seem to care about having their vehicles properly insured and then cry when they get totaled and the insurance gives them a 12k check.

RZRX7TT

Hey DriftDreamz thanks for your post, appreciated your feedback. So you got your Appraised and covered by the Insurance Corp for 40,000 thats sweet. As far as coverage depending on the miles you put on it, there was no mention as far as the application side of things and what it was requesting etc. I am not worried either, As i only drive the Car from May-Sept and the rest of the Winter its stored away.

gracer7-rx7

iTrader: (16)

Search on posts from FDNewbie in this section.

dis1

I too have a higher value listed with my FD. All I did was give them a ring and say I wanted X level of insurance in case of theft or total loss. They asked a few basic questions, which I mostly answered with value related answers while carefully saying that my mods were for appearance and safety, not racing. I cited only the bigger ticket items like wheels and my hood. Took about 5 minutes and increased my rate by a very minimal amount.

silverfdturbo6port

iTrader: (26)

what insurance companies guys???? so the rest of us can get a good deal on coverage

Montego

iTrader: (1)

From another thread

1QWIK7

iTrader: (33)

Lets say you threw away most receipts for the mods, are you basically screwed?

Would they allow like quotes (on paper of course) from places that sell the mods you have installed on your car?

RLaoFD

iTrader: (6)

State farm let me do that for a 99 spec lip. its considered "aftermarket" to them and they let me pull the quote off the internet and included shipping costs. I can't speak for every company though.

Montego

iTrader: (1)

Well it depends on the insurance company. I had the same question because I has been piling on mods for quite some time and I was unsure of what I could show proof of. Mine was willing to work with me if I could show proof of value like an ad or something. In the end I was able to backup every mod with a proof of purchase except for my stereo but they took my word about the price. I had a lot of work done on my car on both the engine bay and exterior, so my receipts were all over the map as they included:

Copies from my paypal account
Shipping Invoices
Online purchase confirmations
and actual receipts

In the end I turned in a book with a spreadsheet on the front cover that listed every mod, invividual price as well as quantified, and page where the recipt could be found within the document.

The insurance adjustor took the book for their records and also snapped detailed pictures of major mods. No hassle easy as pie.