Auto Insurance Claims: Adjusters Price, Insurance coverage for aftermarket parts

Question
I was involved in a single car rollover accident and the vehicle is a complete loss. I had aftermarket accessories on the vehicle of a $5500 value. They include a custom grill guard, 6inch fabtech lift kit, oversize offroad Mickey thompson tires, 18" premium wheels and magnaflow dual exhaust. The average retail price in the area of my truck stock is $15,500. The adjuster has given me a price of 15,000. I could not believe it. What advice can you give me to help my situation. The vehicle is a Ford F150 XLT 4.6 liter supercrew cab short bed 4door with 55,000 miles.

Answer
Hi Joshuwa,

Most auto insurance policies DO NOT cover aftermarket items or customizations you do to a vehicle unless you specifically state them in your application and pay an additional premium for the additional coverage. This is because the premiums are determined based on a standard vehicle the way it comes from the factory. Anything that increases the reisk to the company must also increase the premium.

So the first thing you need to do is to specifically ask them for a written breakdown of what they are paying you for. Ask them if they are or have added any value due to to aftermarket items and if so exactly how much for each item. You also must understand that the added items do not add value to your truck on a dollar for dollar basis. So the $5500.00 cost of the additions may only add $1500 to $2000 to the value.

I hope this helps
Richard Hixenbaugh