Originally Posted by Doctor7474

I'm an insurance appraiser and this is the basic on modifications.

First things like exhaust, steering, suspension ect... the vehicle has to have these items to operate. It is assumed when determining a value on a vehicle that these things were in working order prior to the accident. There for they do not add any value to the vehicle because it must have these things to be in average condition which means operational.

Second modifications are pro-rated from the date they were installed. Meaning if you have modded the vehicle you will have to gather receipts with dates and prices. Since you got use from the parts you installed they are not worth what you paid for them. Think of this like a battery that has a warranty but is pro-rated because you have gotten use from it.

Third and most people do not realize this 99% of the time the OEM parts are worth more then aftermarket parts. That bad *** exhaust, or wheels, or ect... that you put on your car cost's less thus are worth less then the stock OEM parts.

You may should get some extra money from the modifications. You will not however get full value that you paid for those mods because of the above reasons.

Best thing to do if you decide to modify your car beyond basic bolt on parts, I'm talking a heavily modified car that you've dumped like 10k$ plus in is get a stated value policy. Basically you go to your insurance agent. Disclose everything you've done to the car and what it's use is, and advise them you've invested 10k$ into your 10k$ car and you want a policy that will cover the vehicle for 20k$ in case it is a total loss.

Also almost no insurance company uses KBB or NADA ect.. One of these reasons is that these companies can have outside influences. Several years ago KBB was involved in a huge law suit. The reason was that there main investors were car dealers and they were manipulating the prices, example lowering the trade in value, and increasing the retail value. So anyone saying they want KBB or NADA prices for there vehicle isn't what true market value is.

True market retail value of a vehicle is what people are buying them for. The company I work for uses a company that is nation wide (CCC Valuescope) to obtain values for vehicles. I report the mileage, options, and condition of the vehicle (Poor, Typical, Better then average). They take this information and start at the owners zip code and work there way out from there to get a good cross section of vehicles with the same options, condition, and mileage to determine a value. They however use there own information for these purposes. This company has real people who search used car lots, dealership lots, Autotrader, News papers ect... to see what the vehicles are actually selling for.

Just thought I would share how some of this process works.

Originally Posted by nycgps

Well Im not adjuster nor I work in the insurance business. Just wanted to share my story.

I got hit twice (front & back, different dates tho, ppl probably read my story already)

First got rear ended, light hit, didn't break anything except for my MS Rear and some paint in the rear upper bumper. His insurance (car service, some lame insurance called American something) Paid for Full price of the Rear bumper and paint job 100%, no deduction or % of the value at all. Cuz I told my insurance (geico) that if they dont pay for everything Im going to sue their company for higher amount, Geico told them that, I fax all the invoice and stuff in, and they paid for everything.

Then my front got pwned, some smarty back into my car on a 3 lane street at red light, he said he didn't see my car *wtf?* My MS Front pumper got pwned (see pictures in my account) He got Geico too, so I called Geico and told them I have Geico too, originally they only quote for the stock bumper (which is like what, 200 something bucks USED + paint + labor?) but I told them I want my car to be Exactly the way it was, the adjuster was nice and told me that well, cuz Im getting the money from the dumbass's policy I can just send him all the paper/invoice to proof that I paid for the mods. and he can send me the check for the full amount.

so im not sure about your state/company, but in NY (or is it just me?) I can get my mods money back in FULL AMOUNT. as long as I can proof that I actually paid for it.

or maybe it has something to do with "whos fault" is it. Cuz in my case, Im 0% at fault.


and yes, no company use KBB/NADA for the price of the car. I know the Geico always use the 3 most recent transaction (sold) of the car in the zip code (or city), average it, to determine its value.

Originally Posted by Doctor7474

I'm pretty sure every insurance company has to "Return your vehicle to pre-loss condition". Meaning exactly the way it was 1 second prior to the accident. No more, no less.