If you prefer for your car to have new bumpers, exhausts, spoilers, or you want to increase its engine performance, most likely you need to be ready to pay more for your modified car insurance. Why is this? What can you do about it?
Most car insurance providers demand higher premiums for drivers who have their cars modified because they cause higher risks. For instance, modifications themselves may be unconventional, thus, they are difficult to replace in case of an accident. It has been proven many times that engine enhancements only put higher risks of the driver being involved in high-speed car accidents – making insurance companies provide a higher payout.
Modified cars also cause one dangerous thing – envy. They do not appear attractive to car owners only, but also to thieves, thus, causing greater risks of vehicular crime such as vandalism and theft. Insurance companies know this and so they charge more for modified car insurance. Now what steps should you take to try to reduce painful rates?
First, you have to decide whether you really want to modify your car or not, especially if you are below 25 years of age. If you can do without it, then better. You would not have to worry about reducing insurance rates. Alternatively, you can wait until you have established a decent no claims bonus before considering any modifications.
However, if you cannot wait to see your car’s new look, try to minimize any modifications you will make. Take note that each new installment has a corresponding price for modified car insurance.
To effectively reduce chances of car crime, install security devices like car alarms, immobilizers, and tracking devices. You may consult with insurance providers before even implementing new technology to your car. They may recommend certain products that you may use. If you adhere to their recommendations, they might slash premiums by 10 percent.
If you are going to use your car for special circumstances only such as official race days, try to concur on a mileage limit. Because you spend longer time on the track rather than on the road, insurers may cut payments by as much as five to six percent.
One last thing to remember is to compare modified car insurance quotes online. When looking for your insurance provider, see to it that they really receive modified cars for insurance. Oftentimes, if a company is new to custom auto insurance, they would charge chart-topping rates. Follow these reminders, and you will surely get your hands on cheap auto insurance.