Quote:
Originally Posted by sixto
m1tch and Ceristimo, is there a negative consequence to not declaring that you upgraded the wheels other than not getting reimbursed for the increment when you file a claim? Can you negotiate for a replacement set of BBS wheels that probably costs less than the dealer wants for a set of new OE wheels?
Sixto
83 300SD
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Not sure what you're really asking. Carriers price policies based on expected claim. "Expected"= dollar amount of claim x probability of claim. There is a range based on condition of a "standard" car given its Yr/Make/Model. Documented or observed condition of stock items pushes the value up or down within the range.
Conceptually, non-stock items need to be listed and insured separately because they push the base value not taking condition into account above what is collected in premium.
The other thing is insurance is only supposed to "make you whole" as in replace what you lost with item of like quality and condition. You are not supposed to gain otherwise people would have an incentive to file a claim.
If something might happen, that is an insurance issue. When something will happen, it becomes a budget item.
Never give an insurance company more information than they ask for unless it will help you. An underwriter once said "I don't ask for more than I need and I use everything I have." Kind of like the police - everything you say can & will be held against you.