Are you driving around in the ride of your dreams? Whether your car is a souped-up Mustang, a classic with all the bells and whistles or a Ford Escort with an improved sound system, your car is likely one of your most prized possessions.
But have you taken steps to protect it as such? Unless you’ve secured additional car insurance coverage, it’s quite likely that the after-market modifications, equipment and accessories you’ve added aren’t protected at all. Standard auto insurance policies only cover “stock,” or factory-installed parts and accessories.
If your vehicle and its modifications are damaged in an accident, vandalized or stolen, the only way you’ll be able to get back what you lost is if you have insurance not just on the vehicle itself, but the add-ons as well. So what kind of coverage is available?
Many auto insurance companies offer special coverage to shield your investment in case of fire, theft or damage caused by an accident. Allstate’s Sound System Coverage, for example, is specifically designed to protect certain audio additions, while Tape/CD Coverage can help replace certain music media that’s damaged or stolen from your car. (Be sure to ask your Allstate agent, or read your policy carefully for details on how and when this coverage applies.)
If you’re a car collector, or someone who drives restored classic cars, an import or street rod, you might want to get your car rated as a special vehicle for insurance purposes.
Special coverage is also available for cars with wheelchair lifts, high-tech bike racks, canoe or kayak carriers and other add-ons, but coverage is not automatic. You should let your insurance company know about any add-ons your car has. Chances are they will provide you with rider coverage specifically covering the additions when you request a car insurance quote.
