After-purchase EAP/FSD covered by insurance?

After-purchase EAP/FSD covered by insurance?

I added EAP (6k) and FSD (lucky, 2k) to my 2018 RWD LR Model 3 after purchase. I have been going in circles trying to pin down my State Farm insurance agent as to whether those features would be considered in valuing the car if it were totaled. Traditionally, after-purchase add-ons are not, but with software upgrades that make the car identical to what it would have been if the features had been on the original invoice, not so simple.

Seems like the industry is still trying to figure this out. Kelly Blue Book trade in value for my car gives me option to include EAP as a feature, which bumps the value by $3,300. No option for FSD.

Edmunds shows only "Adaptive Cruise Control", which in 2018 was one feature of EAP - a trade-in value bump of $980. No options for the rest of EAP, or of FSD.

If my car were totaled, I would be really unhappy if my insurance company based replacement value on the car without EAP/FSD, and I had to shell out $11k or whatever it is now to replace the features on my new vehicle! I would be willing to pay a higher premium to have EAP/FSD listed on my policy.

Anyone addressed this with their insurance companies?

EVRider | 2019年8月21日

If you don't tell your insurance company that you purchased options after delivery, there's no reason to expect them to reimburse you, since your premium is based on the price you paid at delivery. The same is true for any other aftermarket option you add to your car.

If you want to get reimbursed for options, tell your insurance company about them, but expect to pay higher premiums.

jamilworm | 2019年8月21日

I seem to recall someone saying that their insurance did reimburse them for the value of EAP or FSD purchased later on. They just needed to provide proof that it was bought. At the time tesla didnt have invoices available online so if I remember correctly that person sent a screenshot of their account page showing that the option was on the car.

KBB and Edmund's values dont really matter, the insurance needs to pay out enough for you to get an equivalent replacement. If for some reason nobody in your state was selling a similar Model 3 for less than than 40k then insurance should pay you that amount regardless of what 3rd parties think the value should be

bjrosen | 2019年8月21日

I just e-mailed my Allstate agent to ask this question, I also attached a copy of the invoice for FSD so they would have it in their records. I'm assuming that they will want to bump the rate a little bit to reflect the higher replacement cost of the car. When I here back from them I'll post their response here.

skygraff | 2019年8月21日

Was thinking the same thing, EVRider, but then I wondered if there might be safety based discounts which would offset the premium increase.

Be curious to hear what these two insurers say.

jokerandthief | 2019年8月21日

My MetLife agent told me it would be considered an after market rider. Same goes for if I added ceramic coating or PPF.

jwitkin | 2019年8月21日

Here's what I got back from my agent:

"The Teslas are a car and being treated as all the other vehicles State Farm insures. Any added features our insured has installed/updated becomes part of the vehicle. It is the owners responsibility to keep proof of the upgrades. These things will be taken into the value consideration at the time of loss. We have no endorsements to be added. Best thing you can do is keep track and I think you are doing that already."

Well, we'll see. Makes no sense that there is no premium difference for a car valued 8k (in my case) more - at least I have this in writing. I certainly hope I never have to test it!

rxlawdude | 2019年8月21日

It's better to have the other party at-fault and then you don't need to worry about your insurance's valuation. You are entitled to be made whole, and that would include the value of FSD.
With your own company, as you see from the various answers, assume they will not compensate you for the added-later feature.

kaffine | 2019年8月21日

Most insurance has state mandated minimums for coverage. So while the car is worth more and they may have to pay out a bit more there actual limit that they have to provide is the same. I would still be checking with the agent just in case.