How Installing Aftermarket Parts On Your Vehicle Will Affect Your Automobile Insurance

Posted by on Dec 21, 2015 in Uncategorized

Partly due to recent trends in automobile customization, and partly due to the wide availability of parts, aftermarket automobile parts are being used more than ever before. In fact, it’s been estimated that up to 80% of auto repair shops are now using aftermarket products. If you’ve been in an accident and your body shop is using aftermarket products on your car, or if you’ve just decided to give your vehicle a little flair, you’re going to need to let your insurance company know about these changes. Why does your insurance company care about aftermarket parts? There are two main reasons: the value of your vehicle, and the vehicle’s safety. The vehicle’s value While installing a new aftermarket part (making an addition to a car) can often increase a car’s value, replacing an original part with an aftermarket part can actually hurt a vehicle’s value. Aftermarket parts are almost always cheaper than the manufacturer’s, meaning that a car with these parts is worth a little less than a car with factory installed parts. If you’ve made an addition to your vehicle or you’ve had parts replaced, let your insurance company know, and this affects the car’s value, which directly affects your insurance premium. The vehicle’s safety Another issue with the use of aftermarket parts is the issue of safety. Advocates of using only original manufacturer’s parts claim that aftermarket parts “aren’t subject to the same crash testing standards as OEM parts, and therefore are not as safe.” In some cases, this may actually be true. For example, adding an aftermarket sunroof is a great way to feel the breeze in your hair, but some insurance companies have claimed that adding a sunroof weakens a car’s structure, and makes damage during a rollover more likely. The Institute for Highway safety however argues though, that aftermarket parts are perfectly fine for cosmetic purposes and that they won’t compromise the safety of the vehicle. Insurance companies often will push for the use of aftermarket parts (because of the price), and may only cover a portion of the cost of original parts. But if the part being replaced is crucial to safety, it’s often best to stick with original parts. Whether an aftermarket part for a vehicle is being added simply to add some excitement to a car, or whether an auto body shop has recommended it, you’ll need to let your auto insurance company know. Adding aftermarket products could affect your rates if you tell your insurance provider, but not telling them could lead to a claim not being...

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3 Mistakes To Avoid When Trying To Save Money On Your Car Insurance

Posted by on Dec 4, 2015 in Uncategorized

It is generally a rule that you need to carry auto insurance if you own a car. Many people get frustrated with the fact that they need to pay for insurance and do everything that they can to lower their monthly premium. Although saving money is nice in many cases, you should never sacrifice a good policy to save a couple bucks. Here are a couple mistakes to avoid when trying to save money on your auto insurance. 1. Raising Your Deductible One of the simplest ways to save money on your monthly premium is to raise the amount that you pay in your deductible. In some cases this is a wise choice. If you are a safe driver who rarely gets tickets or is in a car accident, then this may be a good choice for you. However, in some situations it may hurt you more in the long run. For example, if you have a teenage driver in your home, you may want to keep the lower deductible. It will only change the amount you pay each month by a small portion, but it could actually save you money in the long run, seeing that younger drivers are more likely to have accidents that require you pay out of pocket to fix the damage. 2. Removing Clauses From Your Insurance Policy Another way to save money is to go through your policy and opt out of certain coverage. For instance, you can remove clauses that help to protect you when renting a car, comprehensive damage, medical expenses and so forth. By removing some of this coverage you will save a couple dollars each month, but you could be in a world of hurt if you are in an accident. Remember insurance is something you hope you never have to use, but if you do, you want good coverage so that you aren’t bankrupt when the time comes. 3. Opting Out Of Liability Coverage Lawsuits happen all the time, which is why it is so important that you protect yourself. If you are in a car accident and are sued by the other individual, it is vital that you have liability coverage. Never take out this clause in order to save a couple bucks. A lawsuit can range from a couple hundred dollars to thousands of dollars. This is why you should always carry liability insurance, especially on your car. By avoiding some of these mistakes you can be sure that you are getting the coverage that you...

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