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If you can disable the black box without interfering with the air bags, then no insurance company could disclaim, absent a provision in your own insurance policy and I too have never seen one.
It's my understanding the chip records the maximum speed the auto has ever been driven.
I may be wrong about this, just something I seem to remember reading somewhere.
2002 Honda Accord Sedan V-6. I hope the nice bank clerk lady I sold it to is never embarassed if the chip is queried and reads out the 125mph or so I drove it.