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Help and Advice on Modified Car Insurance
Insurance for modified cars
If you`re looking to run a modified vehicle, then you might have cause for concern when you come to compare car insurance quotes.
It`s no great secret that modifying a car will make it costlier to insure. Modifications make the car more appealing to thieves and upgraded performance modifications make the chances of being involved in a road traffic accident higher.
It`s not all doom and gloom. Car modification is a multi-billion pound industry and there are plenty of specialist insurers who can cut good deals for modified car drivers.
There are three different levels of insurance available to UK drivers.
Third Party
This is generally the cheapest type of insurance and is the minimum requirement for UK drivers. It will not provide any cover for you or your vehicle in the event of an accident, but will provide cover for any third parties.
Third party, fire and theft
Third party fire and theft will offer a comparable level of insurance to standard third party but will also offer cover for your own vehicle if it`s damaged by theft or fire.
Comprehensive
This type of insurance will provide extensive cover for your own vehicle as well as any other persons. It may also have features like windscreen cover or breakdown cover included, although some policies may make you pay for this as an optional extra. It will also be subject to exclusions set by your insurer which you should familiarise yourself with.
If your car is a particularly valuable collector`s item, then it`s worth considering getting it valued for a certain sum in order for you to be satisfactorily remunerated in the event of anything happening to it.
Saving on your insurance
There are a number of steps in which you can take in order to keep the cost of your modified car insurance to a minimum.
Consider your modifications
Insurers see certain modifications differently to others. For instance, nitrous oxide burning systems, engine swaps, chassis modifications and colour changes are modifications which potential insurers will either charge an eye-watering rate for, or even decline to insure in the first place. There are also other modifications which you will need to declare but might not add anything to your insurance, such as a Thatcham-approved security system. (In fact, this has the potential to make your insurance considerably cheaper.) All modifications must be declared to your insurer, as failing to do so will invalidate your policy.
Invest in security
Thatcham-approved devices will reduce the price of your insurance. You could also consider fitting a tracking device, which will allow your car to be located in the event of it being stolen. Keeping your car locked up overnight in a garage can also have a reductive effect on the price you pay for your insurance.
Shop around
Don`t just accept the first quote you are given. As there is plenty of competition in the marketplace, a better deal might not be too hard to find when you compare car insurance quotes. Always check that the policy offers the correct level of cover, as the cheapest might necessarily be the best.
If you`re looking to run a modified vehicle, then you might have cause for concern when you come to compare car insurance quotes.
It`s no great secret that modifying a car will make it costlier to insure. Modifications make the car more appealing to thieves and upgraded performance modifications make the chances of being involved in a road traffic accident higher.
It`s not all doom and gloom. Car modification is a multi-billion pound industry and there are plenty of specialist insurers who can cut good deals for modified car drivers.
There are three different levels of insurance available to UK drivers.
Third Party
This is generally the cheapest type of insurance and is the minimum requirement for UK drivers. It will not provide any cover for you or your vehicle in the event of an accident, but will provide cover for any third parties.
Third party, fire and theft
Third party fire and theft will offer a comparable level of insurance to standard third party but will also offer cover for your own vehicle if it`s damaged by theft or fire.
Comprehensive
This type of insurance will provide extensive cover for your own vehicle as well as any other persons. It may also have features like windscreen cover or breakdown cover included, although some policies may make you pay for this as an optional extra. It will also be subject to exclusions set by your insurer which you should familiarise yourself with.
If your car is a particularly valuable collector`s item, then it`s worth considering getting it valued for a certain sum in order for you to be satisfactorily remunerated in the event of anything happening to it.
Saving on your insurance
There are a number of steps in which you can take in order to keep the cost of your modified car insurance to a minimum.
Consider your modifications
Insurers see certain modifications differently to others. For instance, nitrous oxide burning systems, engine swaps, chassis modifications and colour changes are modifications which potential insurers will either charge an eye-watering rate for, or even decline to insure in the first place. There are also other modifications which you will need to declare but might not add anything to your insurance, such as a Thatcham-approved security system. (In fact, this has the potential to make your insurance considerably cheaper.) All modifications must be declared to your insurer, as failing to do so will invalidate your policy.
Invest in security
Thatcham-approved devices will reduce the price of your insurance. You could also consider fitting a tracking device, which will allow your car to be located in the event of it being stolen. Keeping your car locked up overnight in a garage can also have a reductive effect on the price you pay for your insurance.
Shop around
Don`t just accept the first quote you are given. As there is plenty of competition in the marketplace, a better deal might not be too hard to find when you compare car insurance quotes. Always check that the policy offers the correct level of cover, as the cheapest might necessarily be the best.