Ask Lemmy
A Fediverse community for open-ended, thought provoking questions
Rules: (interactive)
1) Be nice and; have fun
Doxxing, trolling, sealioning, racism, and toxicity are not welcomed in AskLemmy. Remember what your mother said: if you can't say something nice, don't say anything at all. In addition, the site-wide Lemmy.world terms of service also apply here. Please familiarize yourself with them
2) All posts must end with a '?'
This is sort of like Jeopardy. Please phrase all post titles in the form of a proper question ending with ?
3) No spam
Please do not flood the community with nonsense. Actual suspected spammers will be banned on site. No astroturfing.
4) NSFW is okay, within reason
Just remember to tag posts with either a content warning or a [NSFW] tag. Overtly sexual posts are not allowed, please direct them to either !asklemmyafterdark@lemmy.world or !asklemmynsfw@lemmynsfw.com.
NSFW comments should be restricted to posts tagged [NSFW].
5) This is not a support community.
It is not a place for 'how do I?', type questions.
If you have any questions regarding the site itself or would like to report a community, please direct them to Lemmy.world Support or email info@lemmy.world. For other questions check our partnered communities list, or use the search function.
Reminder: The terms of service apply here too.
Partnered Communities:
Logo design credit goes to: tubbadu
view the rest of the comments
thank you, that's all very good information.
so all these modded car show people are already rich and they have some madly expensive policies in some minuscule niche high-end insurance market?
Two camps. One just runs on the insurance as if it was stock. And if they ever need their policy, they are going to be financially bankrupted.
The other camp is actually insured and yes it's ridiculously expensive.
For example if you just have a new bumper or body kit with standard insurance, and someone tbones you, you're standard insurance will probably pay out but will assume your car is worth less than stock because of modifications.
But if you have that body kit, and you run over a pedestrian, you're going to personally be responsible because the insurance will say you modified the crash tested crumple and pedestrian zones on your vehicle. That violets the contract you have. Not only will they not pay, they'll drop your policy. Then you'll have to pay the millions for paralyzing little Timmy.
Best case scenario for standard insurance is you buy a $500 Fiero, do $50k of modifications to make it awesome. Someone crashes into you, and they total your car for $500. That's the value of the vehicle.
As another data point one of my collector cars is a low mileage 1980's vintage. It's worth 6 figures and while the past few years is a garage queen, I do actually drive it on the road. I have special insurance for it that will pay to "restore" the vehicle in the case of an accident. You can't buy parts new, and 99% of mechanics won't even touch it. So anything in a shop is going to be ridiculously expensive. That's what my insurance pays for. To make it back to current condition after an issue. I pay 200x to insure the vehicle than I do to register it on the road with the government.
Okay, got it, thank you for the full story, I've been wondering about all the practicalities but had been thinking more on the engineering side rather than considering the more practical regulations and restrictions that of course are going to be there.
Timmy deserved it, btw.