Do I Need to Insure My Custom Rims? (or other custom car work?) | One-Minute Money Tip

Getting your truck lifted or getting nice rims are great ways to make your car your own and suit your style. But did you know that it might be putting you at risk? Auto insurance payouts are all based on replacement costs and market values for vehicles. So if you have tricked out your Dodge Charger and get into a car accident, your insurance carrier may not pay to repair or replace that custom work if they didn't know those upgrades were made. Their coverage will only include those changes if you have informed your agent of the custom work. If you're unsure what types of upgrades need to be reported, it is wise to check with your agent.

DISCLAIMERS: *Purposefully driving your vehicle over a tractor-trailer through a blazing inferno in order to ram into and apprehend "The Penguin" will most likely not be covered by any insurance carrier as “accidental” in any case. But Batman certainly has an umbrella policy to cover that liability.

This video is intended for educational purposes only and is not to be construed as direct or personal financial advice.

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