For some, a car is not just a way of getting from A to B. It is a way of life, a hobby which can reap great rewards and increase your social standing. Car modification is more popular now than it's ever been, but what are the hidden costs?
It goes without saying that a faster car means higher insurance premiums, and larger cars are usually in a higher group. But surely, fitting something as innocuous as a fancy gear knob won't affect your premium?
Wrong. The slightest little modification can potentially raise (or lower) your payments. What's more, if you insure your car as standard then later add a modification without telling your insurer, any subsequent claims could be rendered invalid. So consider this before buying those 17" Spyder Alloys you've been hankering after.
Yes, fitting alloy wheels will affect your
car insurance. Maybe not by a great deal, but as they increase the value of your car, they must be declared to your insurer or claims could be invalidated. The same goes for spoilers and other body modifications, which can also make your car more attractive to thieves.
Anything which alters the performance of the vehicle, such as turbo kits, ignition systems or brakeline kits are seen as higher risk by insurers and consequently your premiums will shoot up. Again, your insurer must be informed of such modifications.
Conversely, fitting modifications to the security of your vehicle, such as a tracker or immobiliser can lower your premiums, but these must also be declared in order to get any discount. If they are not factory fitted as standard, say so.
Basically, when shopping around for a
car insurance quote, it's important to disclose everything about your car, however irrelevant you think it may be. If you're not completely truthful, it will go against you if you need to claim. There's no point in getting really
cheap car insurance if it's not valid because you've omitted something on your application.
