Insurers will consider any change from the car's original factory state as a modification, so any change to your car should be carefully thought out. It's also sensible to contact your insurer before making changes - to find out what the hidden cost may be.
Positive Modifications
Not all modifications will result in an increase in your premium. Some modifications may attract a lower premium as they improve security. The following are generally seen as positive modifications by insurers.
Immobilisers - reducing the risk of theft, these can lower premiums. Alarms - as above the reduced risk of theft or vandalism is seen positively by insurers. Tracking devices - again improving the security and the chances of tracing the car if it is stolen.
Additionally some insurers now offer 'Pay how you drive' or 'Pay as you drive' schemes. These will involve using a smart box that monitors your driving performance and can be beneficial to 'high risk category' drivers. Pay as you drive schemes effectively offer a per mile insurance deal - allowing you to pay for the amount you drive. This type of scheme generally charges less for daytime driving and more for evening/night driving allowing you to further control the cost of insurance. Fitting this type of modification can be very cost effective indeed.
Overlooked Modifications
Some modifications that may seem minor will still be considered as an alteration from the factory state and you should always notify your insurer if you intend to change any of the following:
Car seats - this may not attract higher premiums but can potentially change the value of the car. Tinted windows - again unlikely to have a serious impact on your premium, but check before undertaking any work. Car phones - this will be classed as a modification and could cause a change in premium. Re-spray - potentially adding value to the car this can mean an increase in the cost of insurance and put you firmly in the modified car insurance bracket.
These are small changes and in most cases won't make a big difference to you insurance costs - but the important point is to always check with your current insurer and even consider a spot of comparison shopping.
High End Modifications
Performance is the 'high value' category when it comes to modified car insurance and the following should be considered carefully:
Exhaust modifications - this can increase premiums if it improves performance and may also mean that repair or replacement is more costly than standard. Bodywork modifications - as above, repair to modified bodywork can be more costly if you need to claim and will attract a higher premium. Low profile tyres - can affect the handling of a car putting it into a higher risk category and therefore affecting your premium. Chipping the engine - again improving the performance of the engine, this is likely to be a significant change in the insurers view.
Other Factors
Other factors that will affect your insurance include the usual age/location/storage combination. Young drivers are best to avoid performance modifications or considering specialist modified car insurance companies. Security measures combined with modifications that increase the value of the car should always be considered. Comparison shopping on as many sites as possible will also give you access to the best modified car insurance quotes available.
Anthony Saxon is financial content writer currenlty working in the insurance industry for http://www.tiger.co.uk. Tiger is one of the leading modified car insurance comparison sites in the UK and our focus is to find the right insurance policy for the right price. You can compare over 140 of our insurance partners to find the best deal and save money.
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Anthony Saxon
Car Auto Article FeedFind More ArticlesSearchRecent ArticlesExploring The Reasons You Need Enough Insurance CoverageHow Staying With One Insurance Company Can Save MoneyThe Cheapest Insurance Coverage For Your Business VehiclesHow To Find The Least Expensive Vehicle CoverageAuto Insurance Policies - Different Types of Automobile Indemnity CoversAuto Insurance Policies For Amateur DriversAuto Insurance Policies - Some Basic Points To Remember While You PurchaseInsurance Shopping StudyWhat Is the Insurance Price Tag on a Bad Driving Record?Things To Consider Before Buying Car InsuranceSubmitted On February 17, 2012. Viewed 0 times. Word count: 558.MLA Style Citation:Saxon, Anthony".".17 Feb. 2012EzineArticles.com.22 Feb. 2012
Saxon, A. (2012, February 17). . Retrieved February 22, 2012, from http://ezinearticles.com/?The-Fine-Art-of-Modified-Car-Insurance&id=6887563Chicago Style Citation:
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