I provided the receipts for all of the performance parts that were bolted on the car. Basically they took none of the performance stuff into account when they did the initial appraisal. The policy stipulates that if you cannot provide the receipts that they will pay up to $10,000 for "claimed enhancements". If you're able to provide receipts, then they owe you the full amount, not to exceed the insured interest in the vehicle.
They did not give me the opportunity, nor did they ask. I had to press the issue and force it on them. No, I would not recommend them. Hagerty has a support team that steps in if the insurance company that they use isn't playing ball. Lockton just tells you to go pound sand.
The crazy thing with track insurance is that you can select any coverage amount that you want, and the dollar amount for the policy increases as the coverage level increases. Then they just go by the appraised amount anyways. It's almost like you need an appraiser to appraise the car prior to the policy being taken out. When lockton said the payout was 48,000 at first they still hit me with the full 6,000 deductible as if the total loss had appraised for 60,000. What doesn't make sense here is that if you select the 10% option, should it not be 10% of the amount they're willing to cover? IE 48k = 4,800 deduct???
No, politics is the most shady after drug cartels. Insurance is third ?
Insure based off of the online sales values that you see plus the total cost of installed modifications. Then expect to lose your investment up to your deductible.
At least the cartels supply the product you paid for.
