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Thread: Modified Jeep Insurance

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    Modified Jeep Insurance

    You knew this question was coming.


    What can we do to get legitimate insurance coverage on our modified Jeeps, etc?

    Some variables that can be included as part of the question:

    -Offroad only trailer queen type rig
    -Daily driver no trail use mall crawler type rig
    -daily driver weekend wheeler type rig
    -basic liability coverage only
    -full on "I'm still making monthly payments and my bank wants full coverage" type deal

    Thanks in advance for whatever answer you are able to provide.
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    Hers ---> 75 Renegade Project - 304 V8, T15 3 speed uoıʇɐıɔossɐ ʎq pɐǝɹʇǝɹ

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    i have a 2012 making payments and i have a guy who will cover it no problem at all with lift kit large tires he insures my friends too one has big ford truck on 40's not a problem with it.. weird though i called over 15 places and broker after broker until i found him! he is well aware of how hard it is to find coverage but he is a vehicle enthusiest himself i assume because when i said 3.5" lift and 35s he said well thats not big at all haha
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    ^ I think you are missing the point. This is posted in a new section titled "ask an insurance broker" and is intended for the insurance broker to answer. The question has been asked and answered by the armchair insurance brokers on this forum many times and there is never a clear answer or definitive way/place to obtain legitimate insurance.

    So, as much as i appreciate your armchair insurance broker answer, we can all return to awaiting the answer of the insurance broker who the question/section is intended for.

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    I'm actually working with one of our carrier in hopes of developing a product that would cover such a risk. Unfortunately the second most companies hear modifications they automatically think racing. Some brokers will provide coverage on a case by case basis, they are usually an individual broker who has an understanding of the mods and can properly explain it to the underwriters. I should have some more information on this within the next few weeks.
    97' TJ SE.
    lift challenged

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    Watchin' this one
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    Re: Modified Jeep Insurance

    Subscribed

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    waiting patientley...
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    I too would like to know this.

    My current provider knows my jeep "Has heavy duty suspension and large tires for hunting, camping and trail use". But anything more than your basic bolt-on's still need answers.
    ....-Noltz
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    Waiting to here on this as well. When I insured my Burban , 8" lift sitting on 38" my broker came out to the parking lot too see it......... I pay $633.00 a year.......maybe he likes jacked up trucks.......wait....MTO classes the Burban as a car.............stupid fawkers.....
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    I have a feeling we will be waiting forever.

    As far as I know, anybody insuring a "modified" vehicle on the road that has disclosed it to there insurance provider is only getting 200g's liability. When they changed insurance in Ontario a few years ago, it is my understanding that insurance company's and the provance got together to back door the whole aftermarket auto industry. There fight against street racing went a little to far and they know it. There's good reason they want to keep the fog over it, and just say ;"your covered for $600 buddy, high five, yeah!". Less liability=less premium, but it's your ass in court after 200g's.

    Please, Ppppleease explain how I am wrong......
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    I think your missing what took place a few years ago in the auto insurance industry.
    The changes made a few years back in the industry were a initianceto curve accident benifit fraud within the insurance industry. Ill post some links to some information once I look it up to help you understand the impact this fraud was creating, and how the changes have curved some of the fraud from happening. There is tons of articals on google if you search " Ontario Auto Insurance Reform "

    The changes made a few years back that I think your refering to have nothing to do with modified vehicles and/or street racing. That legislation on street racing/stunt driving was brought in by goverment and the police.

    Now your statement about a liability limit of 200,000$. That is the lowest limit available in ontario under a OAP1. You may or may not be away that all auto policies in ontario are the same. However, your company can offer you different limits of insurance and deductibles.

    I know for a fact the company I work for ( Im an insurance agent - fyi ) does not offer a liability limit less the 1,000,000$ and nomally I quote 2,000,000$ as the cost of judgements have risen.

    Now I know I just opened up the door for the questions in regards to modified jeeps. I see our friend the broker is working on something with a company, so I will leave that to him. But I can tell you the position the company I work for takes on modidified vehicles. Its is not acceptable to write a vehicle that has been modified. However, at the agency level we do our own underwriting for auto insurance and home insurance.

    There is endorsments available within the industry OPCF 19 that will limit the ammount payable for modified/custom vehicles. Also a good question to ask if a company uses those endorsments.

    Hope that answers some of your questions. Im sure the broker can give a insight on his work to get a company to look at servicing this community with insurance coverage.








    Quote Originally Posted by stickyken View Post
    I have a feeling we will be waiting forever.

    As far as I know, anybody insuring a "modified" vehicle on the road that has disclosed it to there insurance provider is only getting 200g's liability. When they changed insurance in Ontario a few years ago, it is my understanding that insurance company's and the provance got together to back door the whole aftermarket auto industry. There fight against street racing went a little to far and they know it. There's good reason they want to keep the fog over it, and just say ;"your covered for $600 buddy, high five, yeah!". Less liability=less premium, but it's your ass in court after 200g's.

    Please, Ppppleease explain how I am wrong......
    1987 Jeep YJ with a few mods.
    2008 Jeep Sahara Unlimited - the daily driver
    "party like a rockstar, play like an allstar... and f*ck like a pornstar"

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    Thanks Crazykid for the reply

    I will do a bit of reading on it. All I know is my first hand experiences. After the changes a few years ago there was this new modified check box on the application form. It was not there before the big changes. My broker could not find any company that would take on my Jeep at the time(mild xj on 33's/3" lift) for more then 200gs.
    I really hope we can find a specialty company that will understand, and offer real coverage. I sold my Jeep, and don't drive a " modified" vehicle now for this reason.
    I understand that my broker may not be the rite one for the job. I will give it another shot soon. I'm getting the itch to own another trekker type vehicle.

    My spelling is imbarassing. Really hard on my iPhone to type in this box thingy

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    Quote Originally Posted by stickyken View Post
    My spelling is imbarassing.

    Quoted for the irony!
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    Quote Originally Posted by CTD NUT View Post
    Quoted for the irony!
    I'm glad someone picked that up.

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    If some ins. agent picks this up can you pm me. I need insurance for my jeep and more

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    Insurance companies don't care. They are there to make as much money as they can off of people that want to drive. Then when someone needs their policy the companies do anything they can to not pay. Insurance in this province is akin to organized crime.
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    I was told by an insurance bigwig a few years ago that 911 is the reason the prices went through the roof. since they lost so much during that time. they had to rebuild their equity

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    Quote Originally Posted by jeeper52 View Post
    I was told by an insurance bigwig a few years ago that 911 is the reason the prices went through the roof. since they lost so much during that time. they had to rebuild their equity


    Im assuming you were talking to a insurance bigwig who is affiliated with an amaerican company. AKA - State Farm, All State etc?
    There was a big impact no questions to thier bottom line. However...

    Insurance companies insure themselves incase of large disasters, its reffered to as a re-insurance. So a company would take the insurance they have sold - lets say 1,000,000 in property insurance and transfer some of that risk to a couple of reinsurance companies. A great example would be Slave Lake AB. Almost a entire town was destroyed by fire, damage was in the billions, if one insurance company insured lets say 65% of the town, id almost garuntee that company would go broke trying to pay back all the claims.
    Google " re insurance" There should be lots of information in respect to the process thats done by insurance companies to transfer thier risk.

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