Who in Ontario insures modified vehicles?

Deep 3.2TL · 06-18-2012, 10:51 PM

My boss has a supercharged Mustang and can't find anyone to insure it. He's with state farm right now, but they are RAPING him and looking elsewhere. His TD MM quote came out $5K cheaper for all his cars, house, ATV's, Snowmobiles and bike. He told them about the modification, they still quoted. Went to switch insurance today and they wouldn't do it!

I cannot believe that everyone running modified vehicles are running them illegally. There has got to be some company that insures them...

Anyone?

Blackedout95 · 06-18-2012, 10:55 PM

Thats weird, s/c stang+++ here and never had any issues at all, no premium because of it, nothing! Is it an issue where he had it "appraised" or his driving record is shite.

Deep 3.2TL · 06-18-2012, 11:04 PM

Nope - wrong... completely clean record. No accidents, no tickets. He's not some young punk.

TD says no modified vehicles right on their site. RBC said no to modified vehicles. Kanetix has no insurance companies they deal with that will take modified vehicles (we called and asked).

Who are you with?

This is an 07 GT with an S/C installed...

El Gato Liso · 06-19-2012, 12:24 AM

take the S/C off, get insurance, reinstall.

Big Chin · 06-19-2012, 12:29 AM

Try Economical Insurance... All of our cars in my house are modified... Not to SC extent... but I am pretty sure they're all insured to cover the extra modifications we put on our cars...

Deep 3.2TL · 06-19-2012, 12:44 AM

Quote:

Originally Posted by El Gato Liso

take the S/C off, get insurance, reinstall.

Not gonna work... Get into an accident with the S/C, you are screwed.

Sure he can get insurance if he lies to them - that's not the solution.

Deep 3.2TL · 06-19-2012, 12:45 AM

Quote:

Originally Posted by Big Chin

Try Economical Insurance... All of our cars in my house are modified... Not to SC extent... but I am pretty sure they're all insured to cover the extra modifications we put on our cars...

Thanks - we'll look them up.

SiR · 06-19-2012, 10:13 AM

get in an accident with s/c how will the company know otherwise?

in ontario insuring mods hasnt been a viable solution in a long time.

Deep 3.2TL · 06-19-2012, 10:42 AM

Quote:

Originally Posted by SiR

get in an accident with s/c how will the company know otherwise?

in ontario insuring mods hasnt been a viable solution in a long time.

I don't follow you... If you get into an accident, and submit a claim, an adjuster will come to see the damage on the vehicle. All you need is the adjuster to see the S/C and you are cooked. Lying about it is not the answer.

He picked up Haggerty insurance. 10K KM's a year limit, insured for $30K for $1000 per year as a specialty vehicle. He doesn't do more then 10K km's a year on it, so he's good.

HavocSteve · 06-19-2012, 11:49 AM

That's good. I find it weird he couldn't find insurance. Cars today now come stock with turbo's and S/C's, look at the Cobra Mustang, it comes S/C if I'm not mistaken. Cobalt SS lol. Seems very weird to not find insurance companies wanting to insure.

Bullet Ride · 06-19-2012, 12:06 PM

With the mustang you'd be able to argue that the supercharger is a factory option (even if the supercharger is aftermarket) and some insurance companies will allow it, however there are some (like TD MM) that will not insure any vehicle that has modifications... TD MM will drop you if they find out you have a CAI! It's ridiculous.

There are only two options out there in Ontario currently for heavily modified vehicles. Go with Lant or Hagerty and have your car insured for cheap but with heavy restrictions that make it unusable for a DD or go with Facility Insurance (they will insure anything with a safety) and pay a ridiculous premium. To put it into perspective how bad Facility is, I'm currently 24 and I got a quote from them for a turbo E30 with 1mil liability. My premium was $4k per year with a fairly clean record. At 25 it would drop to $3k but that's still ridiculous. There's not much logic in how the premiums are calculated. Why is it that it would cost me the same amount it would cost if I was driving a 911 GT3 with full coverage to insure a beater turbo E30.

So to answer your original question, yes the majority of "modded" cars on the road would have their coverage dropped if their companies knew.

Deep 3.2TL · 06-19-2012, 12:15 PM

Quote:

Originally Posted by Bullet Ride

With the mustang you'd be able to argue that the supercharger is a factory option (even if the supercharger is aftermarket) and some insurance companies will allow it, however there are some (like TD MM) that will not insure any vehicle that has modifications... TD MM will drop you if they find out you have a CAI! It's ridiculous.

There are only two options out there in Ontario currently for heavily modified vehicles. Go with Lant or Hagerty and have your car insured for cheap but with heavy restrictions that make it unusable for a DD or go with Facility Insurance (they will insure anything with a safety) and pay a ridiculous premium. To put it into perspective how bad Facility is, I'm currently 24 and I got a quote from them for a turbo E30 with 1mil liability. My premium was $4k per year with a fairly clean record. At 25 it would drop to $3k but that's still ridiculous. There's not much logic in how the premiums are calculated. Why is it that it would cost me the same amount it would cost if I was driving a 911 GT3 with full coverage to insure a beater turbo E30.

So to answer your original question, yes the majority of "modded" cars on the road would have their coverage dropped if their companies knew.

Yup - nuts...

Hagerty is better then Lant. They will insure up to 10K km's a year (found out that they cannot deny is claim if you are at like 11 or 12K, but if you are at 25K, they'd pay the claim then drop you).

As for the factory option argument - totally agree... Infact, a 2013 Boss 302 has over 600 hp and about 200 more then his car, but no problem insuring that... stupid!!

Deep 3.2TL · 06-19-2012, 12:18 PM

Quote:

Originally Posted by HavocSteve

That's good. I find it weird he couldn't find insurance. Cars today now come stock with turbo's and S/C's, look at the Cobra Mustang, it comes S/C if I'm not mistaken. Cobalt SS lol. Seems very weird to not find insurance companies wanting to insure.

So did I - Then when I started looking and calling to help him out, no one was coming back agreeing to cover a modded car... it's nuts!

You'd think there would be a market for them to insure these cars with some added premiums. There are lots of people like him who are older, responsible people, who have performance cars and the history to prove responsibility. I would think they would be a safe insurance risk...

SiR · 06-19-2012, 04:45 PM

what adjuster is going to have a clue about what a super charger is and/or if it even came on the car?

its better just to not say anything... unless you can find reasonable coverage somewhere(for a daily) but thats not likely.

and it all is bs. toss an s/c on your old bmw make 300 hp....or walk into the dealer ship and buy a 500+ hp m5. insurance companies are idiots.

Deep 3.2TL · 06-19-2012, 04:48 PM

I agree - but I don't think a responsible person wants to be dropped from insurance. Try getting any insurance after being dropped... then you'll see some premiums....

It doesn't matter if some don't know about an S/C. All you need is the one guy who comes to your accident to know about it...