Will insurance cover aftermarket Parts? Adding aftermarket parts to your car can be exciting, especially for auto enthusiasts who see it as a form of art.
However, it’s essential to understand your insurance provider’s stance on aftermarket parts if you currently have any or plan to add them.
The key question is: will insurance cover these customizations? Some policies offer limited coverage for aftermarket parts, but most standard plans either provide minimal compensation or none at all.
In this article, we’ll dive into how insurance policies handle aftermarket parts and what you can expect in terms of coverage.
What are Aftermarket Parts?
Aftermarket parts are replacement components made by third-party manufacturers rather than the original equipment manufacturer (OEM).
Often used as replacements for damaged car parts and other equipment, aftermarket parts can be useful in many ways.
However, they may impact the coverage of your car insurance policy for the modified items.
How Do Aftermarket Parts Work?
Repairing or replacing a damaged vehicle can be costly, so many drivers opt for aftermarket parts because they are typically less expensive than original equipment manufacturer (OEM) parts.
Depending on your car insurance policy, using aftermarket parts may affect your coverage over time, as insurers may adjust the policy to reflect these parts.
Since aftermarket parts reduce repair costs for insurance companies, they may also help lower your premiums.
Insurers often favor aftermarket parts for this reason, as these parts may not require the same level of insurance coverage as OEM components.
Does Insurance Cover Aftermarket Parts?
Before allowing repairs to your vehicle due to an accident, ensure you review your car insurance policy for how far your car parts are covered.
However, if you do not follow the policy terms, you may end up paying out-of-pocket for your car parts.
Aftermarket parts are often cheaper, but insurance policies can decide that OEM parts are offered coverage.
Note that some car insurance policies will pay only for your car repairs if aftermarket parts are used.
Can I Get Insurance Coverage for Aftermarket Parts?
You can purchase car insurance for aftermarket parts, but it tends to be more expensive than coverage for OEM parts.
Some insurance companies offer this as an add-on to your collision or comprehensive coverage. If your current insurer doesn’t provide this option, other providers may offer coverage for aftermarket parts.
To find the best deal, it’s a good idea to compare rates and quotes from different insurance companies.
Is Aftermarket Part Insurance Necessary?
Irrespective of your type of driving, it is important to have insurance coverage for every part of your car. Most insurance companies offer limited coverage for aftermarket parts, while some will not offer it at all.
However, some insurance companies will only allow coverage for aftermarket parts and will not cover OEM parts.
This is because aftermarket parts are cheaper than OEM parts, making most insurance companies charge lower premiums.
These parts will end up being a better investment for your insurance company to get your car back into good condition through aftermarket parts.
However, these types of policies will not cover additions and modifications to the vehicle. For this reason, ensure you know what is added to your policy so you do not end up paying out of pocket to fix these parts after a collision.
Can I Buy Insurance For My Aftermarket Parts?
Yes, you can buy car insurance coverage for aftermarket parts. This insurance is often very costly and may not be available with most car insurance companies.
However, if you want to ensure your car has coverage for aftermarket parts, there are a few steps you can follow to achieve that. You can check with your insurance provider whether or not they offer coverage for aftermarket parts.
Your insurance company may also offer several levels of coverage as a part of your collision and comprehensive insurance coverage.
Aside from these, some insurance companies offer insurance for unique vehicles; you can shop for the best insurance coverage from these insurance providers.
