You may wonder, “Does insurance cover modified cars?” Well, such a proposition could be a perfect possibility these days! But finding cheaper quotes won’t be that easy if you decide to go about the process on your own. You will need help from specialists to eliminate the rigors of the process.
Companies need to know that you have carried out certain modifications in your vehicle. If insurer find out later on, when you file a claim, that your vehicle had been modified, there is every chance claims might be denied.
If you modify your car then there will be big impact on insurance rates on account of the following factors:
Companies require drivers to provide details of car’s type, make and model for assessing overall risks involved in extending coverage. In addition, insurers may even appraise value of the modified car for calculating insurance rates. Modifications in cars can affect appraisal values and can cause premiums to spike. And some modified components may also lead to denial of car coverage.
Insurance for modified car can be expensive and to keep the costs low, here are few things to consider:
The below mentioned list of car modifications have to be declared to your insurance company
The level of coverage provided for a modified car could vary from company to company as every insurer will cover modified car components in a different way. Hence, after you have chosen a favourable insurer, it makes sense to inquire with the company what all is likely to be covered.
And if you are planning to modify your car in near future then it makes sense to ask your existing car insurance provider whether undertaking upgrades is really worth the consideration. Accordingly, you can carry out customizations in the car and inform your insurer regarding the same for facilitating premium calculations.