Have you ever considered kitting out your car with new alloy wheels?
Perhaps you’ve explored the possibility of adding a super, top of the line sound system?
Or did you ever flirt with the idea of tinting those windows for a touch of exclusivity and privacy?
Where a car is merely a means of getting from ‘A to B’ for many people, equally as many people see it as an extension of their personality, and can’t wait to alter its appearance.
Whether it’s to stand out, improve comfort or enhance performance, there are many reasons people choose to modify their motors. But changes to your vehicle mean changes to your insurance premium, and it is usually in the form of an increase.
What counts as a “modification?”
You could be forgiven that thinking a mere tweak of the engine or a lick of paint would be overlooked in the eyes of your insurer, but you would be wrong. In fact, a modification is classed as anything that diverts from the original spec of the vehicle. Be the reason or outcome functional, performance-related or aesthetic, they are all modifications and your insurer should be informed in order that your insurance remains valid.
How much extra will my insurance be?
This is a difficult one: Whilst all modifications counts as modification, not all modifications are created equal. Let us explain…
Typically speaking, the most expensive additions/ modifications to a vehicle (in relation to insurance premium increases) are any changes to the mechanical aspect or bodywork. That also includes adaptation for accessibility reasons.
Conversely, adding a tow bar or parking sensors can decrease your insurance premium.
Unsurprisingly, three of the modifications that will bump up your insurance costs most dramatically are those typically associated to the classic ‘boy racer’ (or younger, competitive drivers). They are:
- Turbo-charging or nitrous oxide addition – The aim of these additions is to make the car perform faster, so it perhaps comes as no surprise to learn that this can more than double your insurance!
- Bodywork additions – bonnets, bulges, wings and wheel arch changes are generally for aesthetic value, and can see your insurance skyrocket by over 50% a year.
- Transmission or gear changes – your Fiesta may not be capable of beating Lewis Hamilton any time soon, but changes of this variety can add 60% onto the price of your car insurance. Ouch!
But it’s not all racing and vehicular peacocking. Other expensive – albeit often necessary – modifications that are ferociously expensive to insure include wheelchair ramps or lifts, which can add two thirds onto your insurance. Hand controls can be expensive to implement and add 50% onto your annual insurance.
Selling on
Whatever your reason for modifying the vehicle, remember that what may be your dream car could be another’s ideas of hell. Significant modifications can result in finding a buyer more difficult, both because of the niche market you will be selling to, and because of the (potentially off-putting) expensive insurance.
If you purchase a vehicle with modifications then it is imperative you inform your insurer. Failure to do so – whether you made the modifications or not – can land you with void insurance, a hefty bill and a criminal record should you make a claim or be investigated.
We hope you found this useful. Should you need any additional help, clarification, or you would like an insurance quote of your own, please contact our friendly specialists today by calling on 01243 784000.
