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Modified Car Insurance 101


Since a car is a big boy’s toy, many men try to modify some parts to customize it to their liking. Altering an automobile is like customizing a Facebook profile or dressing a child. You add what fits your taste, personality, and budget of course. However, after the painstaking, but satisfying modifications are made, having cheap modified car insurance proves to be somewhat difficult.

Sure, insurers will still take into consideration the policyholder’s usual profile. Age remains an important factor that they consider. Driving history and record is another, inspecting your traffic violation or accident history, if there are any. They will also check your location and mileage. In addition, companies will consider you favorable if you have a promising credit score and credit rating.

However, if you have a customized vehicle, companies will consider the above factors plus how your vehicle is modified and the purpose of personalizing it. Thus, getting less expensive modified car insurance is quite a challenge.

Insurers classify modified cars into street racing cars and show cars. The first type is riskier because it is usually driven too fast. It has greater chances of getting involved in road mishaps and in attracting thieves. Since street racing vehicles are high-risk, you will get higher rates when you ask for quotes. Well, this is how it goes in the insurance world, the higher your risk is, the higher your premium will be.

On the other hand, show cars are usually owned by hobbyists who take pleasure in altering a vehicle and admiring it. These vehicles are low-risk and therefore owners get modified car insurance discount.  For one, owners drive them slowly and carefully, not to mention they have low mileage. Having such cars means attracting thieves, but they are well-kept in a very safe garage so the chances of them getting stolen are slim. Their owner will look after them like their own babies.

Companies will really take it positively if you will disclose or declare all the modifications made. Do not keep the information just to have a lower rate. You may regret this decision in the future. The company may void your policy if you claim following an accident.

Do not be surprised of the extremely high modified car insurance rates while you talk about your deal. This is normal. The best thing is to make the company reduce the price. You can do this by installing some safety and security devices that will make you and your car safe. Moreover, give the insurer mileage for your vehicle. Spend more time when scouting for the best package before purchasing modified vehicle insurance.