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General Car Insurance |
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Modified Vehicles If your one of the thousands of enthusiasts that enjoy upgrading or modifying your vehicle, you will have to declare this to your insurer as it also affects your premium. Failure to do so may invalidate your claim in the event of an accident.
Insurance companies classify vehicle modifications into 2 categories.
Firstly there are those that affect the performance of the vehicle, such as fitting a more powerful engine, chipping the engine, suspension and break upgrades. The concern from the insurers is that performance modifications affect the power to weight ratio and this increase the likelihood of an accident.
The secondly form of modifications are where the appearance of the vehicle have been changed. Here there is an increased risk of theft as it is more desirable to thieves.
In principle the more a car has been modified, the higher your premium. However, there are a number of specialist insures who accept that a highly modified car is often a cherished car and in many cases will have greater security devices and be driven with more care. In this instance it is worth looking in specialist magazines for insurance companies or insurance brokers that can help you.
Not only will young drivers be subject to higher premiums, but will also incur a higher policy excess.
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The Insurance Boffin E-mail: info@insuranceboffin.com Disclaimer: Any information, advert or link contained on this site does not amount to advice, suggestion or a recommendation in any manner or form. |
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