Competitive Performance and Modified Car Insurance

ByAnthony Saxon

Any change to a car can be considered as a modification so always try to contact your insurer in advance to minimise the risk of invalidating your policy or any expensive hikes in the cost of insurance.

Why Do Modifications Attract Higher Premiums?

Car Modifications tend to have two effects; either they make the car more valuable, or they make it more likely to be involved in an accident. Performance enhancing changes to the engine can make the car faster and for this reason insurers see it as a much higher risk.

Simple changes like a re-spray can increase the value of the car and for that reason may have an effect on the premiums. In many cases modifications will affect both performance and value of the car - placing it an even higher category for insurance purposes.

What can I do to cut the costs?

The first thing to consider is what type of modifications can help to reduce the cost of your insurance. Alarms and tracking devices will all be viewed as positive modifications by insurers. Any factor that can increase security and reduce the likelihood of theft will help - even something as simple as garage storage, so consider how you can make the most of these savings to offset any increase for modified car insurance.

Car insurance for a modified vehicle will also be affected by your age, driving record and all the other factors that insurers take into account. Age is one of the biggest factors in 'risk' assessments of insurers. Mileage can also make a big difference. For younger drivers 'Pay how you drive' insurance can offer some good savings - if you are a good driver at least. Limiting the use of the modified car to recreational use can also save money.

If the car is used every day and is parked in public while you are at work, insurers will consider it is likely to be at a higher risk of theft than if it was parked safely at home during the working week. This may seem like a small factor, but financially can make a big difference.

Where to Shop

Not all insurers are equal! Shop around and try a few different comparison sites along with specialist modified car insurance and performance car insurance sites. Specialists tend to take into account that your modified car is your pride and joy and that you are likely to be as concerned about its welfare as they are.

Comparison sites can offer the best range of quotes and can often help you to find surprising savings.

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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Insurance: Car-Auto
Anthony Saxon

Email Address:SubscribeCar Auto Article FeedFind More ArticlesSearchSimilar ArticlesTypes of Car Modifications and The Cost of InsuranceThe Fine Art of Modified Car InsuranceHow to Cut the Cost of Car InsuranceTwelve Car Insurance Money Saving Tips For Much Cheaper PremiumsJapanese Import Car Insurance - 5 Money Saving TipsCar Insurance - Finding Specialist Insurance For WomenUnderstanding CPT Code 28510 - Billing for Fracture Care Follow-UpsForces and Trends in BusinessHuman Resource Information System - HRISRecent Articles17 Year Old Driver InsuranceEssential Things To Note Whenever You Make A Motor Insurance Coverage ClaimWhy Modern Automobile Makers Are Rediscovering ColorExamining How Your Credit Can Affect Your Insurance CoverageImportant Information About Car Accidents And Your Insurance CoverageShopping for a New Car? Consider the Insurance Cost Before BuyingHow to Change to a New Car Insurance CompanyAuto Accidents - What to Do If You Hit a DeerEight Simple Ways to Reduce the Cost of Car Insurance for Young DriversTips For Making Best Choices For Insurance RenewalSubmitted On March 13, 2012. Viewed 0 times. Word count: 432.

MLA Style Citation:
Saxon, Anthony".".13 Mar. 2012EzineArticles.com.17 Mar. 2012 .APA Style Citation:
Saxon, A. (2012, March 13). . Retrieved March 17, 2012, from http://ezinearticles.com/?Competitive-­Performance-­and-­Modified-­Car-­Insurance&id=6936915Chicago Style Citation:
Saxon, Anthony "." EzineArticles.com. http://ezinearticles.com/?Competitive-­Performance-­and-­Modified-­Car-­Insurance&id=6936915EzineArticles.com© 2012 EzineArticles.com
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The Fine Art of Modified Car Insurance

ByAnthony Saxon

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.

Article Source:http://EzineArticles.com/?expert=Anthony_Saxon

Did you find this article helpful?00Get Involved0 commentsSuggest a topicArticle ToolsPrint this articleE-mail to a friendEzinePublisherReport this articleCite this articleStay InformedGet notified by email when new articles are added to this category or written by this author.Subscribe to New Article Alerts:

Insurance: Car-Auto
Anthony Saxon

Email Address:SubscribeCar 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 .APA Style Citation:
Saxon, A. (2012, February 17). . Retrieved February 22, 2012, from http://ezinearticles.com/?The-­Fine-­Art-­of-­Modified-­Car-­Insurance&id=6887563Chicago Style Citation:
Saxon, Anthony "." EzineArticles.com. http://ezinearticles.com/?The-­Fine-­Art-­of-­Modified-­Car-­Insurance&id=6887563EzineArticles.com© 2012 EzineArticles.com
All Rights Reserved Worldwide

About UsFAQContact UsMember BenefitsPrivacy PolicyShopSite MapBlogTrainingVideo ArchiveAdvertisingAffiliatesCartoonsAuthorsSubmit ArticlesMembers LoginPremium MembershipExpert AuthorsEndorsementsEditorial GuidelinesTerms of ServicePublishersFollow UsTerms Of ServiceEzines / Email AlertsManage SubscriptionsEzineArticles RSS

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