Collision insurance and comprehensive insurance coverage typically only cover “factory” equipment that come with the vehicle. If you have invested money and time improving your vehicle you may want to consider purchasing custom pars and equipment coverage.
Devices, accessories, additions and enhancements that were not installed by the original manufacturer are covered by this insurance. The coverage will protect you in the event that a customized part is damages, destroyed or stolen.
Custom parts and equipment coverage covers everything extra that you add to the vehicle.
Coverage amounts vary from $2,000- $10,000. It is important to note that although this type of insurance is separate from collision and comprehensive coverage, it may fall under the same deductible. A deductible is the out of pocket expenses that an insured must pay out of pocket.
After the deductible has been met the insurance company will pay for any additional damages that the insured has incurred.
Note that this type of insurance coverage is not mandatory, but it can provide peace of mind to individuals who have invested many resources in improving their vehicle.
Custom parts insurance covers rims, special spoilers, suspensions (and any other performance enhancement machinery), paint jobs, aftermarket seats or interior improvements, aftermarkets lights including light racks, entertainment equipment such as installed DVD players and radios, and towing equipment.
If you decide to purchase customized parts and equipment you should ensure that you document all of the money that you have invested in your vehicle. If you do not have documentation which shows the value that you added the insurance company may attempt to rip you off.
If you are having problems dealing if your insurance company you should contact the lawyers at Hutchison & Stoy.
We are happy to fight an insurance company for our clients.
If you have any questions about how customized parts and equipment coverage applies to your personal injury case you should contact the lawyers at Hutchison & Stoy. You can also find more information about Customized Parts and Equipment Insurance Coverage in our blog post about how car insurance works.
We offer free case consultations to individuals who need to determine whether they have any legal rights.