Car Insurance Ripoff
recently i had my car broken into and the the nice person who did took my ENTIRE car stereo this includes:
cd player: $400
4 speakers: $150-$200
subwofer: $75
sub box: $100
600W Amp: $200
a new driverside window: $200
I contacted my insurance company to file the report RIGHT after i filed a police reoprt for the stuff, like 30 min. after i found out it happened. I made the claim the day it happened. They said they would contact me within 24 hrs of making the claim.... 24hrs later no avail! i called again and had to refile the claim. Then i had problems trying to get hold of my insurace adjuster... finally i called my insurance agent and she said they wouldnt cover the stereo for anything except factory stereo...
My friend also recently had his car broken into and his stereo was stolen he told me he claimed it under his parents homeowners insurance so ... I tried to get it covered under my parents homeowners insurance... but they said they wouldnt cover it because it was attached to the car...
ANY HELP GREATLY APPRECIATED!!!
THANKS in advance for your time!!
cd player: $400
4 speakers: $150-$200
subwofer: $75
sub box: $100
600W Amp: $200
a new driverside window: $200
I contacted my insurance company to file the report RIGHT after i filed a police reoprt for the stuff, like 30 min. after i found out it happened. I made the claim the day it happened. They said they would contact me within 24 hrs of making the claim.... 24hrs later no avail! i called again and had to refile the claim. Then i had problems trying to get hold of my insurace adjuster... finally i called my insurance agent and she said they wouldnt cover the stereo for anything except factory stereo...
My friend also recently had his car broken into and his stereo was stolen he told me he claimed it under his parents homeowners insurance so ... I tried to get it covered under my parents homeowners insurance... but they said they wouldnt cover it because it was attached to the car...
ANY HELP GREATLY APPRECIATED!!!
THANKS in advance for your time!!
What does your auto insurance policy state about coverage for after-market accessories such as those you describe?
sk8stlpunk,
Unfortunately, claims are something insurance agents don't want. It affects how much bonus they get and can ultimately get them "fired" or lose the contract with insurance carrier.
What you need to do is dig out the policy contract. The contract is different from the "Declaration Page" which names your coverage amounts, VIN number, deductibles, etc. The contract is going to be a relatively long document with very legal wording. It usually starts with a "Definitions" section. You need to look for the section labeled either "What We Cover", "What Is Covered", "What Is Not Covered", or some variation of those. Read through those entire sections for stereo equipment or non-factory equipment. Most insurance policies will cover any equipment which was installed in the place of the factory equipment. The deck, speakers, and windows, as long as they have not modified the original holes, are replacing the original equipment and should be covered. The sub, sub box, and amp are not replacing any factory equipment and therefore would usually not be covered unless you have a special endorsement that covers that sort of thing. These endorsements have to be requested and cost additional premium.
The other thing you need to consider is if you even have comprehensive coverage and what your deductible is. This will be listed on your Declaration Page. If you have a $500 deductible, it might not be worth filing the claim. Deck is $400, speakers $200, glass is $200. That抯 $800 total but if you抮e deductible is $500, you'll only get $300 from the insurance company. Not only that, but contrary to popular belief, ALL claims are bad for your record.
For example, let's say that you had had 5 comprehensive claims in the last year followed by a small fender bender accident that was your fault. Even though the comprehensive claims don't increase your premium and most people think comp claims don't affect your record, your insurance company is probably going to cancel you on your next renewal. Insurance companies are in business to make money and you are costing them money as well as using your policy as a maintenance tool rather than for catastrophic loses which is what insurance is designed for. If you hadn't file the comprehensive claims and had just had an accident, they usually wouldn't cancel you.
The only time your really want to file an insurance claim, is if the loss is going to put a serious strain on you financially. Otherwise, do yourself a favor and pay for the damage out of pocket. It may save your insurance rates from doubling in the future.
Good luck.
Unfortunately, claims are something insurance agents don't want. It affects how much bonus they get and can ultimately get them "fired" or lose the contract with insurance carrier.
What you need to do is dig out the policy contract. The contract is different from the "Declaration Page" which names your coverage amounts, VIN number, deductibles, etc. The contract is going to be a relatively long document with very legal wording. It usually starts with a "Definitions" section. You need to look for the section labeled either "What We Cover", "What Is Covered", "What Is Not Covered", or some variation of those. Read through those entire sections for stereo equipment or non-factory equipment. Most insurance policies will cover any equipment which was installed in the place of the factory equipment. The deck, speakers, and windows, as long as they have not modified the original holes, are replacing the original equipment and should be covered. The sub, sub box, and amp are not replacing any factory equipment and therefore would usually not be covered unless you have a special endorsement that covers that sort of thing. These endorsements have to be requested and cost additional premium.
The other thing you need to consider is if you even have comprehensive coverage and what your deductible is. This will be listed on your Declaration Page. If you have a $500 deductible, it might not be worth filing the claim. Deck is $400, speakers $200, glass is $200. That抯 $800 total but if you抮e deductible is $500, you'll only get $300 from the insurance company. Not only that, but contrary to popular belief, ALL claims are bad for your record.
For example, let's say that you had had 5 comprehensive claims in the last year followed by a small fender bender accident that was your fault. Even though the comprehensive claims don't increase your premium and most people think comp claims don't affect your record, your insurance company is probably going to cancel you on your next renewal. Insurance companies are in business to make money and you are costing them money as well as using your policy as a maintenance tool rather than for catastrophic loses which is what insurance is designed for. If you hadn't file the comprehensive claims and had just had an accident, they usually wouldn't cancel you.
The only time your really want to file an insurance claim, is if the loss is going to put a serious strain on you financially. Otherwise, do yourself a favor and pay for the damage out of pocket. It may save your insurance rates from doubling in the future.
Good luck.
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