So this has been something that's been creeping into my thoughts lately. I love my '04 Sport Edition and I use it as my daily driver. Currently my policy is through Allstate and my payments are very affordable for Full-Coverage. But lately I have been wondering what I'll do if the unthinkable happens and my 4Runner gets Totalled.

I don't remember any of my policy statements asking me if my vehicle was modified (its been a while) and I have heard some horror stories when it comes to "modified" vehicles getting into accidents, even when all it is is oversized tires and a lift kit.

I'm sort of trying to figure out what the best course of options is here. I don't mind exploring a more expensive insurance plan if it will cover not only the value of my vehicle but its modifications if such a thing is possible. I'm just trying to make sure that I'm covering my ass when it comes to the vehicle's value if it god forbid gets totalled. I don't want to be left with a depreciated value of the 4Runner and not being able to recover the modifications in one manner or the other (god knows I'll strip the damn thing before that tow truck drags it off if I have to.)

So if you guys have any suggestions, experience, ideas; I think this would be a great place to pool together our knowledge and resources in case someone else has a similar question.

Easy.
Gather up all your receipts for all the mods (every single one).
Take pictures of the vehicle and the mods.
Take to your agent.
Pay an additional small amount every month.

That's all! Now, I will tell you that when you mod a vehicle you lose money every time. The only people who make money doing a mod is the people selling you the mod. With that said let's say you did $3K worth of mods a few years ago. Wheels, tires, lift. You wreck and total the vehicle, or somebody hits you and it's totaled it does not matter. Those $3K worth of mods won't give you $3K but you will get a diminished value of some number.

Establish a good rapport with your local agent. I have been using the same one for 16 years. No additional fee for myself, but when I had over $30,000 in stereo equipment in my house years ago, I had to pay an additional rider fee on top of my coverage.

For my 3rd gen I have little modded to it but have the leverage via my agent to go and pull parts from it for another 3rd gen or to sell on CL before it gets totaled if it comes to that.

As 1engineer stats though most of the time with mods one loses money in the end. But it is hard to put a price on fun sometimes.

The best advice I can give is have an open line of communication with your agent. Let them know your intentions. They should be willing to work with you, not screw you over. Ask if there is a penalty or who typically does the adjustments. If your agent is the underwriter as well as the adjuster, then they'll know what you paid and what everything is/was worth and hopefully work with you. Some companies are forgiving when it comes to "upgrades". I would use that term rather than modifications... Rims, oversized tires, those aren't modifications but upgrades. I would think a modification would be boring the cylinders or adding a supercharger. Tires, rims, a lift and roof rack shouldn't penalize you on your claim.

Some companies also offer special policies. They have to take this into account when they are insuring classic cars, or custom builds. On a classic or custom, there typically won't be a depreciated value. Granted your 4Runner isn't one of these, there are options.

what you want is custom insurance. Not all insurance companies offer this coverage. With custom insurance you need to take pics of modifications and equipment you want covered, and you pay additional premium for said dollar amount. This is how i have my cadillac insured, If it gets stolen, i get a check for 25k, no questions asked, its a 93 fleetwood brougham.

The best approach is a "stated value" policy. Basically you tell them the value you want your truck insured at and support it with photos/receipts/etc. When they ask if you take it off-road you state that you do. I haven't had any claims but learned about this from a guy with a beautifully built 80's truck that he rolled off-road. it's book value is basically zero but he collected over 20K to bring his truck back to the condition it was before he rolled it. The key is to be up front about its use and mods. If the insurer balks, walk away.

Another angle to look at is whether your policy pays "fair market value" or "replacement cost". FMV pays you what the truck would have actually gotten if you had sold it instead of wrecking it. Since our upgrades lose market value the minute you put them on, fmv isn't great for a built rig. Replacement cost will pay you fmv for the truck, but then reimburse you when you actually buy and install the new equipment. This is also something to keep in mind if you get hit and it's the other guy's fault: he only owes you fmv (laws vary by state though, so yours may be different).

Also, fmv vs replacement cost is a big deal with your homeowner's. That tv on your wall isn't worth a fraction of what you paid for it, but you'll have to pay full price for a new one.