If you’re purchasing aftermarket parts for your car, it may not occur to you to notify your auto insurance company. However, your auto policy carrier can only cover what it knows about. If you live in Buffalo, NY, it may make sense to update your auto insurance when installing aftermarket parts, depending on the cost and what you expect to be reimbursed for the parts.
Why Get an Updated Auto Policy?
The short answer to this question is that aftermarket parts can increase the value of your car. Once your car’s value increases, you may need to purchase a policy that covers its full value. Whether it’s new rims or a screaming stereo system, not everyone can afford to lose the value of those items if the car is stolen or the parts are damaged.
When Can You Skip Calling Your Carrier?
At L & S Agency Inc., we know that not every upgrade is worth calling your insurance carrier. For example, small upgrades on an older car that you only drive occasionally and keep securely locked in a garage may not require updated coverage.
If you choose to get aftermarket parts, though, it’s important to add up the costs. Too often, car owners purchase aftermarket parts, only to forget or vastly underestimate the value of each upgrade over time. This common trap can lead to a lot of headaches if you want to make the same upgrades on a replacement vehicle or if you need to repair the components on your current one.
Have questions about your auto insurance in Buffalo, NY? Contact L & S Agency Inc. to discuss your options, especially if you’re seeking custom coverage tailored to your aftermarket updates.
