All Mod Cons
The reasons why modified car insurance often costs more are varied but one of the main reasons is the concern over the origin of newly fitted parts and the cost of replacing them. Insurers also think safety so when a part is fitted they want to ensure it was completed by an expert and the correct certification was provided. When a car is purchased in showroom condition, both its owner and its insurer can be confident that all of its parts were made under the guidance and supervision of a single manufacturer. If parts are added and taken away, however, insurers may have doubts about the quality and compatibility of these modifications.
Aside from the premium costs, another matter that often confuses modified car owners is what happens if they are in an accident. You might have spent thousands on modifying your car, only to find out when you make a claim that you are only paid out on the original market value of your vehicle.
Making the Most of your Modifications
When looking for car insurance for a modified vehicle, your quotes will be influenced by some factors that you can do little about, including your age. It’s not all doom and gloom for these car owners though, as a prepared and organised approach can help.
Perhaps the best tactic is to have as much information available about the modifications as possible. Make sure you ask for, and keep, receipts as this will mean that insurers will be able to check their authenticity and value. You should always use reputable garages and bodywork centres.
Other insurance sweeteners could include:
- Using your car sparingly – some insurers even offer a limited mileage policy. Many car owners only use their modified vehicle for special outings, preferring a another car for day-to-day usage.
- Asking for a true valuation – if you feel your changes have increased the value of your car, choose an insurer that will take this into consideration.
- Keeping your car secure – little measures like storing the vehicle in a garage, fitting an alarm can help you obtain a cheaper quote, not to mention protecting one of your most expensive purchases.
Most importantly, you should outline all vehicle modifications to your provider when looking for a quote. If you don't fully disclose all modification information, you are at a risk of your provider declining a claim or canceling your policy.
These are just some of the factors we consider here at Chill Insurance when finding you insurance quotes. Look no further than us for a quote.