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Green Car | 19.03.2014 - 16:37

Finding Insurance for a Modified Car

If you’re considering modifying the appearance or performance of your vehicle, you’ll probably be aware that this will significantly increase the cost of your car insurance premium.

Auto repairs enthusiasts often wish to undertake these modifications from home, as a creative and productive way to utilize their mechanical skills. Others pay for alloy wheels, souped-up engines and spoilers to be added by a professional garage. These modifications can increase a driver’s enjoyment of their car and are becoming increasingly popular.

Why Do Modifications Impact on Insurance?
Insurance companies set the prices of their policies based on the amount of risk a particular customer or vehicle represents. The modifications added to your car are likely to make it more attractive to thieves and will therefore increase the risk of it being stolen. Cars that have been modified to be more powerful will incur higher premiums because the insurer will deem it more likely to be involved in an accident. Vehicles with powerful engines are also likely to incur more damage and cause more damage to other cars if an accident occurs. As modifications can also add monetary value to the car, this means that in the event of an accident or another disaster, it would cost the insurer more to replace. The cost of replacement parts will also be higher and all these factors will have an impact on your insurance premium.

Informing Your Insurer
Always state on your insurance application that your vehicle has been modified from the original (factory) condition. If you don’t, you may end up with cover that is invalid and be turned down when the time comes to make a claim. For those who already have car insurance policies, you should always inform your insurer when you make changes to your vehicle, otherwise your policy may be invalidated.

Getting the Best Deal
You’re always going to pay more for insurance if you have a modified vehicle, but there are certain things you can do to keep your costs under control. Consider buying insurance from a provider that specialises in modified cars, like Sky Insurance Services, as their policies will be tailored to your needs. It’s also worth increasing the security on your vehicle. If an insurer can see that you’re taking every possible step to reduce the likelihood of theft or damage, they will be more lenient when it comes to costs. Another smart way to reduce your premium is to add another named driver to your policy.

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