Insuring Aftermarket Parts

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Rachel Bodine graduated from college with a BA in English. She works as an associate editor and writer for for over a year and enjoys creating content that offers expert advice on car insurance topics.

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs...

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Reviewed byLeslie Kasperowicz
Former Farmers Insurance CSR

UPDATED: Mar 13, 2020

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Aftermarket PartsSo, after watching The Fast and the Furious 6, you feel like adding those customized parts to your car, don’t you? Maybe a spoiler here, neon lights beneath your car’s chassis, and a few aftermarket parts that’ll give your car that extra oomph. What about the custom exhausts pipe, or the turbo engine that makes your presence heard for miles around you? That’ll be awesome, right?

However, before you get these aftermarket parts at out of impulse (and partly out of idolatry for the cool cars featured in the movie), think about this very real-life problem not usually encountered in the movies: who’s going to insure your aftermarket parts?

So… who’s going to insure my aftermarket parts?

You will have to note that your usual insurers might drop you if you inform them of the aftermarket parts that you’ve fitted onto your car. Sure, it makes your car looks menacing, and it’ll go from 0-60mph in 4 seconds, but you’ll still be too risky for them to insure you – modified cars and safe drivers don’t really go well together. Even if they do, be prepared to pay large sums of premiums for your additional aftermarket parts that you have fitted into your car.

In addition, you’ll be slapped with a whole series of restrictions. Your insurer will probably disallow your car from even turning one revolution of its wheel on a race track. If you were to get into an accident while in a racing event, you will not be able to claim a single cent from your auto insurance for your “blinged out” car. They might even void your auto insurance contract!

Also, there will be mileage restrictions – you can only drive below a certain distance in a stipulated period of time. This is to prevent you from actually putting your car too much at risk by simply being on the road; your aftermarket parts-loaded vehicle will probably be sitting in the garage most of the time.

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Wait, aren’t there insurers that specialize in insuring aftermarket parts?

Luckily for you, there are! An insurance company known as Hagerty Insurance specializes in insuring vehicles that come loaded in aftermarket parts. You’ll definitely be able to get quotes from this insurer for your fully-customized car! However, the premiums don’t come cheap – sometimes, they reach up to $2,500 per year. In addition, the conditions that were mentioned in the previous section apply – you can’t take your car on the race track and can only drive a certain distance.

Also, there’s also this thing called the “Totaled Cap”, where you’ll only be paid this agreed sum of money for in the event that your vehicle is totaled. Usually, this only encompasses the aftermarket parts that you have fitted onto your car. For example, say you have about $100,000 worth of aftermarket parts on your vehicle. The insurance company will then agree to pay you $100,000 in the event that your car is totaled. In this situation, you will only be getting $100,000 and will forfeit the value of your vehicle. This is why most people buy an old model, like the 95’ Acura Integra; the value of the car is so low that it’s negligible.

Why aftermarket parts premiums are so high, and why some of them won’t insure my aftermarket parts

Simple: because you are a high-risk driver. Statistics have shown a positive relation between high-risk drivers and the number of aftermarket parts they have installed onto their vehicle. We’re not talking about aftermarket replacement parts of OEM parts that are fitted after an accident in the repair workshop; we’re talking about customized engines and carbon-fiber hoods. In essence, these cars are modified for one sole purpose: to race and to win the race.

As such, with all these races you’re taking part in, it’s inevitable that you’ll burn out your car during the race, or get some sort of damage on your car one way or another. Even though the auto insurance contract explicitly says that you cannot take part in races, but you’ll still do it anyway. You can’t blame these insurance companies for charging premiums for insuring aftermarket parts that high.

With the aftermarket parts you want finally fitted to your car, your next challenge begins: You’ll have to find an auto insurance company that’s willing to take your 600bhp 95’ Acura Integra under its umbrella. This process is not easy – you’ll be rejected outright because you’re a high-risk driver, and at other times you’ll be slapped with exorbitantly-high auto insurance rates for insuring your aftermarket parts. It’s going to be tough, but hey, at least your car can go from 0-60mph in less than 5 seconds.

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