something to consider

Sir Nuke

Member
This last weekend, while having a conversation with another board member about our cars...of course what else would we be talking about, something was mentioned that I had not really thought about before...

there has been a LOT of talk from a lot of people as to whether or not they should Turbo their current car or to order a MazdaSpeed. after all....with the mazdaspeed you are in effect buying an MP3 with a turbo on it....

well here is something to think about......the Mazdaspeed with its factory turbo is going to be a lot higher to insure. Just because of the turbo....regardless of the actual HP output. and if you turbo your MP3 or P-5, only YOU will know for sure....and certainly not your insurance company.

Just something to think about.
 
This is exactly why I decided to turbo my MP3 instead of trading it in for the WRX in a year or two. Now that I'm in Dallas, I can easily afford the WRX, but the insurance will murder me.
 
Well I can't afford the new mazdaspeed, but their is more to the car over ours. the biggest thing I love is the LSD on it... that alone would make it worth it....

Jc
 
Something else to think about.....

I am an insurance adjuster, it is my job to 'write off' cars.

Insurance contracts operate on 'full disclosure', meaning that you are to tell your insurance company about everything on your car of interest to them, a turbo qualifies.

It follows under the same rule as those who have MP3's and think it's great that they get to register the car as a simple Protege. It won't be so great when you have a claim with that insurance agent, and they claim that all the stuff on the car is nothing more than aftermarket goodies. How would you feel if your Racing Hart rims were stolen, you go to put a claim with the insurance company, and they tell you well 'looks to me like you have a base protege here, I see Mazda from the factory fits those with 15" steel wheels and wheel covers. Oh, you say it was the special model, ok, yeah, we see that here, 16" rims right? Sounds good."

Hiding something from an insurance company may be great for your premium, but in the long run, ouch. I have seen it happen a couple of times, and have even been the bearer of bad news. Keep it in mind that if you got in a front end collision, if your insurance company has no prior knowledge of that turbo under your hood, they have no obligation to fix it.

By the way, my first post. Hi guys! Have been lurking for a while, only because I have reserved a Mazdaspeed. I currently have a 10AE Miata.

Bryan
 
Hello Brian and welcome to the board.....

YEP there is absolute 100% truth to what you say....of course that goes for ALL aftermarket parts/speed goodies that you add to your car.

And although its a gamble, not hiking up your rates to cover the turbo....SOME would consider it. Life is a gamble....just getting out of bed in the morining is a gamble.....but think how dull it would be if we didn't live on the edge once in a while. :{D


Ishmael said:
Something else to think about.....

I am an insurance adjuster, it is my job to 'write off' cars.

Insurance contracts operate on 'full disclosure', meaning that you are to tell your insurance company about everything on your car of interest to them, a turbo qualifies.

It follows under the same rule as those who have MP3's and think it's great that they get to register the car as a simple Protege. It won't be so great when you have a claim with that insurance agent, and they claim that all the stuff on the car is nothing more than aftermarket goodies. How would you feel if your Racing Hart rims were stolen, you go to put a claim with the insurance company, and they tell you well 'looks to me like you have a base protege here, I see Mazda from the factory fits those with 15" steel wheels and wheel covers. Oh, you say it was the special model, ok, yeah, we see that here, 16" rims right? Sounds good."

Hiding something from an insurance company may be great for your premium, but in the long run, ouch. I have seen it happen a couple of times, and have even been the bearer of bad news. Keep it in mind that if you got in a front end collision, if your insurance company has no prior knowledge of that turbo under your hood, they have no obligation to fix it.

By the way, my first post. Hi guys! Have been lurking for a while, only because I have reserved a Mazdaspeed. I currently have a 10AE Miata.

Bryan
 
You are dead right, it is indeed a gamble, I would just hate for someone to step up to the slot machine without realizing the consequences. (ie, no tell the insurance company and believe they did nothing wrong, only to be utterly suprised at claims time).

Cheers!

Bryan
 
Hmmm once again the Canadian(or maybe in my case Manitoban) difference comes into play. By the way I understand it, here if you for instance installed a turbo and kept all the receipts and then were involved in a front-end collision, you can then turn those receipts in so that the damage amount given to you to fix the car or if it's written off increases relative to the receipts at least letting you recoup much of the money spent on the aftermarket stuff.
 
Well, my fellow Winnipeger, being an employee of the wonderful public corporation you refer to, I can tell you that you are partially right.

While it is true it would come into consideration, it must still be realized that you would never re coup your full investment, then again, anyone thinking they won't lose money on a car in the long run is nuts, espescially if you modify it.

How much more, realistically, is an MP3 with a turbo worth than one without? Does the market care? Unfortunately, the answer to that is quite often no. How about a Protege 5? If you sunk $5000 into a turbo, do you suppose your P5 is worth $5000 more than Joe Averages P5? Unfortunately, again, no. The market just does not pay you back for mods, and when I write a car off, I have to reflect that.

So, yeah, sure, show me your bills, but in the end it is all relative to what the car is worth.

A smart investment a moded car is not.

Cheers!

Bryan
 
Ishmael said:
Well, my fellow Winnipeger, being an employee of the wonderful public corporation you refer to, I can tell you that you are partially right.

While it is true it would come into consideration, it must still be realized that you would never re coup your full investment, then again, anyone thinking they won't lose money on a car in the long run is nuts, espescially if you modify it.

How much more, realistically, is an MP3 with a turbo worth than one without? Does the market care? Unfortunately, the answer to that is quite often no. How about a Protege 5? If you sunk $5000 into a turbo, do you suppose your P5 is worth $5000 more than Joe Averages P5? Unfortunately, again, no. The market just does not pay you back for mods, and when I write a car off, I have to reflect that.

So, yeah, sure, show me your bills, but in the end it is all relative to what the car is worth.

A smart investment a moded car is not.

Cheers!

Bryan

Geez it took me sometime before I even noticed you were from Winnipeg too Bryan! Just curious, but where did you reserve your Mazdaspeed at, and have they given you a price at all or even a ballpark figure? I'll definitely want to see your car in person when you get it! =)
 
I'll tell you what I did, I sent e mails to every Mazda dealer in this province, and the one that could actually write me with some kind of info, is the one that got my business.

I had previously tied my loyalty to the salesman who sold me my 10AE, but he has gone on an extended Hiatus, so I threw that out the window and started from scratch.

I got my 10AE from Gerry Gordon's, but they did not even respond to my e mail. My salesman had moved to Destination Mazda, but he being gone, they responded to my e mail, but all they said was 'I have no information currently'.

Jim Gauthier was the only one that responded with anything, and so far the guy I have been dealing with there has been pretty good. So, they are the ones I went too.

What do they know about it? Not much when I reserved, but at least the salesman made an effort to call Mazda Canada to find out something. At the time all I got was some ballparks, looks like maybe 27-28000, looks like maybe late September.

Recently they got those pamphlets that others have had (woopee) and I have not spoken with him in a while, but as of 2 weeks ago there was still no word on price and release date. Soooooo, nothing formal from them, but then who knew with dealers, at least he has made an effort.

So, hopefully September, and not October, I would like to drive it for a while before the snow hits (this car gets the winter, unlike my past two, we'll see how it does). And hopefully that price is around 27-28000, interestingly, he did write it down on paper, so I may have a by out of paying much more, which is ok.

Anyway, I have gone on for too long, sure you can see it when I have it, should be soon. Too bad I have to put the 10AE on the chopping block (time to own only one car) and sell it. No one wants to buy it though. Too bad, still love that car.

Until later.......

Bryan
 
JcsMP3 said:
Well I can't afford the new mazdaspeed, but their is more to the car over ours. the biggest thing I love is the LSD on it... that alone would make it worth it....

Jc

Not really...from what's in print, it doesn't do that much.
 
Be sure to buy some steelies/winter tires soon after you get the car Bryan...as you are well aware, we can get snowfall in October fairly easily and if the new tires have any similar kind of performance in snow as the Dunlops on the MP3, then you definitely don't want to be anywhere near the roads when the snow starts to fly!

I wound up buying universal steelies as the uncommon bolt pattern on our cars meant that they were a bit tough to come by. I bought my MP3 at Gerry Gordon's and when I wanted a quote for "cheap" winter tires/rims, it started at well over a $1000...somewhere around $1200 - $1300 as I recall which was ridiculous.

Haha and I know how you feel about the relative lack of knowledge of the dealers...I spoke to them too and most had never even heard of Mazdaspeed and this was only a little over a month ago.
 
This is what i think. (Mom is working in insurance field for 20 years) Well insurance will rip you ass off to insure any thin on your car. Oh you got rims on your car? HMM thats another 500 a year. HMM your car car with a $600 after market radio. That another 300 a year. What i'm trying to say is that by the time any thing gets stolen from your car you have already have paid the amount of the product to your insurance company and then some. So it's not worth it.

Get me. they find out you have a $600 radio so they will charge you 100-200 more a year to insure that part of your car. well in two years u have paid to your insurance 200-400 bucks. Is it worth it??? i think not. That my opinion.
 
Back