Car modifications will undoubtedly affect the price of your premium, however there are various things you can do to keep your modified car insurance costs down. Read on to find out more.
Modifications tend to fall into two categories – cosmetic and performance boosting. If you are keen to modify your car but are concerned about the rising cost of your premium, you may want to consider minor modifications that do not significantly alter the value or handling of your vehicle.
Statistics suggest that motorists who drive higher performance cars are more likely to be involved in an accident. This increases the possibility of them making a claim. As a result, the more complex the modification, the more expensive your car insurance premium will be. Modifications such as engine and wheel upgrades, or changes to the suspension or brakes can seriously alter the handling of your car. Car stickers, changing the seats, or adding spoilers are considered to be cosmetic modifications, so will not dramatically affect the cost of your car insurance.
The value of your car can increase with every modification, which is a key reason why insurance costs go up. One way to minimise the risk of theft – and thus reduce the cost of your modified insurance cover – is to make sure your car is always parked in safe locations. So if you have a garage or a driveway, use them, and make note of this on your insurance application. Don’t park your car on the road or in risky places. Make sure it’s always left in an open, secure and well-lit area to lessen the risk of it being broken into or stolen.
Another great way to drive down insurance costs for your modified vehicle is to purchase security devices such as an immobiliser, alarm and tracker. These will greatly reduce the chances of your car being stolen, as most insurers will consider you to be a lower risk. More traditional devices like a steering wheel crook lock will also help to optimise security. Costing around £30, they are an affordable option for keeping your car extra safe.
It’s important to shop around for the best deal when it comes to modified car insurance, but choosing a specialist provider will greatly improve your chances of getting a good deal. At Keith Michaels we have a dedicated team of motor insurance specialists who are passionate about providing affordable cover for car enthusiasts.
To find out more about modified car insurance cover and how it affects you, see our Modified Car Insurance FAQs.