The key to getting cheap modified car insurance


While purchasing the premium for your car insurance, you have the liberty of bargaining for a cheaper price, even though the insurer has the final say in the matter. Surprisingly, even if it a modified car that you’re driving, it isn’t very hard to get your insurer to settle on a better rate. All you have to do is get your know-how of bargaining right when you’re getting affordable modified car insurance.

Don’t jump into the bargaining fray right away; you will need to know firstly, what the risk factor concerned with your modified vehicle is. If you have extensively modified the engine of your vehicle to give you increased horse power, well, your insurance premium will rev up accordingly. But other measures, such as fitting an anti braking system, or an alarm system, or lock wheel nuts fitted to alloy wheels of your vehicle can significantly bring down the premium rate for your vehicle as the risk factor computed for your vehicle will drop drastically. If your vehicle has minor modifications that will not affect your car’s performance, or safety, will also not affect the rate for your premium, so you don’t have to worry about having to pay extra to get your car insured.

You will also have to closely analyze the kind of modified car that you have, too. All insurers classify vehicles according to their built, model, mileage, horse power, and price. Modified cars are classified into two groups- the first of which are show cars. Vehicles belonging to this group are low mileage vehicles, and accordingly pose less of a threat, and are hence of low risk to insure. These cars will thus, not generally cost much to cover. However, vehicles belonging to the second group, the street race cars are high powered, with enhanced performance, and these fall into the high risk category. Hence these cars cost more to cover.

So if your car is a street race car it may be a lot more difficult for you to attain cheap car insurance. Insurance companies are hesitant to cover such vehicles, and if they do, charge hefty premiums. Also these cars are very expensive to purchase, thus increasing the likelihood that it may be stolen by auto thieves, which is another reason why cars in this group are charged with such high premiums. If your vehicle falls into the low risk group however, you will be benefited with the advantage of cheap car insurance, especially if the modifications that you’ve made to your car are only minor.

Many people wonder what their driving records have to do with the rates of their premiums. The answer is- a lot! Insurers take a lot of your personal details into account, such as your past driving record, your credit record, and even the condition on your health. So take care of all these factors, and try and maintain a clean history as far as possible. A careful and prudent driver is the best customer for an insurance company, so if you are able to prove that you belong to this group of drivers, you can and will get a massive discount on your premium rate. Another factor that affects your insurance rate is your experience as a driver. If you’re fresh out of college, with little or no driving experience, you will attract a higher insurance premium.