How Do Car Modifications Affect Your Insurance Policy?

How Do Car Modifications Affect Your Insurance Policy?

You might want to get your car modified with uber cool DC-themed car seat covers or get stylish alloys for your wheels. But are you aware that your car modifications have a huge impact on your insurance policy?

If you love cars and spend so much time modifying it, you need to know that it is going to increase your car insurance premium for sure. The car modification could be anything from a minor change to revamping the entire car body. But it would cost you more than your regular car premium.

What is Car Modification?

Before we jump into the topic, first, you must understand what a car modification is. A car modification means any changes or alternations that you make to the original car model created by the manufacturer.

These are basically the add-ons to your vehicle to make it appear different from other wheels running on the road. The preference of car modifications varies from person to person. However, in many situations, it results in voiding car insurance while claiming for the theft of an accident.

How do Modifications change the rate that you pay for Car Insurance?

Whether you have chosen Beacon Insurance or any other car insurance, certain factors affect the price quote.

These factors are: Risk of theft: Due to car modifications, the risk of car theft increases, as your vehicle might become vulnerable to being stolen.

Risk of accidents: If you change or modify the engine, body kits, spoilers, etc. in a car, it may increase the risk of accidents. Hence, increases your car premium at the same time.

Both these factors are checked by the car insurers, such as Tatil Insurance while accessing the insurance policy.

What modifications affect the insurance policy?

1. Mechanics and Engine Modifications Any modifications to the engine or mechanics of a car may alter the speed of a vehicle and this may even increase the risk of an accident. That’s why the car premium cost is increased.

2. Suspension and Breaks Tatil Insurance in Trinidad or other car insurers increase the premium cost of a car when there are any modifications to a vehicle’s suspension and breaks. You must inform the insurance company about any amendment before accessing your insurance policy to avoid any confusion related to car modifications and its effect on the premium.

3. Wheel modifications Even wheel modifications are going to increase the insurance premium of your car, as it adds more to the value of your vehicle.

4. Car interior or Paintwork If you plan for altering your car’s interior, such as changing steering, sound system, seats, pedals or more, you need to inform your car insurer about the amendments.

Even getting your car painted need to be informed, as it can drastically change the entire look of your car.

These might seem to be the harmless modifications but they also add up to the cost of your insurance premium.

5. Car stickers Even car stickers or decals are considered as a part of modifications by certain car insurance companies. So, you must check with your car insurer whether or not it would affect your insurance premium.