[Thussy]

So I just sealed the deal on my E92 335i and got the ball rolling on the insurance today. The place I work gets a discount through TD Melouche Monnex (sp?), and I have my home insurance through them and their quote seemed lower than the others I could find, so I gave them a ring.

The guy on the phone went through the typical questions, and he asked me if the car is modified. The car is stock, so I said no, but I asked anyways what counts as modifications and what the impact of them would be. I assumed that they would increase the insured amount based on the value of the car. Boy was I wrong, he straight-up said that my insurance would be null and void. If I wanted to mod my car (calling out mods like lowering, chip tunes, etc), I had to find another insurance company. He even said the rims had to be OEM.

Is this typical these days? My Volvo was pretty modified (tune, DP, exhaust, all the suspension parts, rims, 6spd tranny swap, full stereo, etc), so I was kinda bummed at first. But looking back at how much I blew on my car, it may be for the best (my gf was definitely excited to hear that I won't be modding anytime soon). I guess I'll have to look to a motorcycle to fill my need for speed then...

[Yvette]

so they wont cover anything aftermarket parts...no shady they are cheaper than other insurance company.

[Photosapiens]

Go with belair direct. They are mod-friendly insurance company.

Of course, in case of accident, they won't pay you back your aftermarket parts but at least they don't void insurance because of aftermarket parts installed.

[kol]

Originally Posted by Photosapiens

Go with belair direct. They are mod-friendly insurance company.

Of course, in case of accident, they won't pay you back your aftermarket parts but at least they don't void insurance because of aftermarket parts installed.

isnt belair where are the people considered "high risk" get insruance from? aka ppl with history of tickets/suspensions/insurance denials from other companies?

with that in mind, i would think their premiums are pretty high

[Universal_Magnetic]

Originally Posted by kol

isnt belair where are the people considered "high risk" get insruance from? aka ppl with history of tickets/suspensions/insurance denials from other companies?

with that in mind, i would think their premiums are pretty high

belair isnt necessarily for high risk, they are not facility. they do provide nordic insurance which is facility and for high risk.

younger people usually get the better rates with them.

[kol]

Originally Posted by Universal_Magnetic

belair isnt necessarily for high risk, they are not facility. they do provide nordic insurance which is facility and for high risk.

younger people usually get the better rates with them.

ah, thanks for clarifying. that's what i always had in mind....

[Me_Hi]

Ontario insurance companies are on crack.... I was paying almost $500/month insurance there. Private insurances companies are like thiefs .... Now I'm in Vancouver, with the ICBC government insurance, and I pay 236/month and they cover any mods up to $10k. If you want to claim over 10k in mods, you have to give them receipts of the parts but it will be a bit more expenisve. The entire country should have the same system.....They recently reduced premiums by 2% to the whole BC due to a lower than expected claims....

[taYab]

Originally Posted by Me_Hi

Ontario insurance companies are on crack.... I was paying almost $500/month insurance there. Private insurances companies are like thiefs .... Now I'm in Vancouver, with the ICBC government insurance, and I pay 236/month and they cover any mods up to $10k. If you want to claim over 10k in mods, you have to give them receipts of the parts but it will be a bit more expenisve. The entire country should have the same system.....They recently reduced premiums by 2% to the whole BC due to a lower than expected claims....

Hm, I didn't know that our ICBC covers that much for mods parts.
Do we have to notify them when I install body kits or custom parts?
Lets say if my customized CF lip is stolen, will they ask me to prove I had that at the first place?

[Me_Hi]

Yes receipt of purchase and police report and you're good

[Me_Hi]

Originally Posted by Me_Hi

Yes receipt of purchase and police report and you're good

If all your mods are less than 10k no need to inform them.... Just proof of purchase when claiming ....

[asearle74]

I have never had problems with TD Meloche Monnex and mods. They ask you if there are any, but have never said it would would nullify the insurance.

[Thussy]

Originally Posted by asearle74

I have never had problems with TD Meloche Monnex and mods. They ask you if there are any, but have never said it would would nullify the insurance.

They asked, I said no mods. I asked what happens if I do have mods, and he said they wouldn't cover me. He said mods that would void my warranty include lowering the chassis...