well, if submitted for the rims, it might have been valid, but tires! well, we know that the insurance industry does not take to tires – we’ll never know the actual condition of that tire. value of a car or even a rim, we do know. but in this case, i am glad we are taking a stand to those whom fraudulently file claims. this helps in reducing our rates or not allow them to rise.
Actually in North Carolina under the standard PAP form, coverage is now provided under the Physical Damage coverages for after-market parts up-to $1000 subject, of course, to the deductible and provided that they are permanently installed on/in the vehicle (meaning installed by bolts, brackets or welded into position. Velcro strips don’t count) Additional coverage for aftermarket parts is also offered by several companies.
However the odds of tires and rims being stolen as part of the burglarly of his home…. Most people that I know don’t just have rims & tires just lying around unused, and burglars normally don’t stick around to take the tires off your car either. I’m glad that someone at the company smelled a fish and had this properly investigated.
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well, if submitted for the rims, it might have been valid, but tires! well, we know that the insurance industry does not take to tires – we’ll never know the actual condition of that tire. value of a car or even a rim, we do know. but in this case, i am glad we are taking a stand to those whom fraudulently file claims. this helps in reducing our rates or not allow them to rise.
Aren’t auto parts excluded under a homeowner policy?
in NC, if they are not actually on a vehicle, but sitting in storage on premises, they are covered. ie, winter tires, extra set . . .
1990 Honda – Value $1500; Set of Chrome Rims – $4,000; Getting caught trying to hose the insurance company – you know the rest!
Actually in North Carolina under the standard PAP form, coverage is now provided under the Physical Damage coverages for after-market parts up-to $1000 subject, of course, to the deductible and provided that they are permanently installed on/in the vehicle (meaning installed by bolts, brackets or welded into position. Velcro strips don’t count) Additional coverage for aftermarket parts is also offered by several companies.
However the odds of tires and rims being stolen as part of the burglarly of his home…. Most people that I know don’t just have rims & tires just lying around unused, and burglars normally don’t stick around to take the tires off your car either. I’m glad that someone at the company smelled a fish and had this properly investigated.