Think twice about modifying your motor
An insurance expert has stressed to vehicle owners the need to think twice before making radical changes to their cars as modified car insurance may cost as much as 101 per cent more than a regular policy.
Adding a body kit could more than double the price of car insurance, according to findings published by leading price comparison website moneysupermarket.com. Having a car phone installed or alloy wheels fitted might also push up premiums by 44 per cent and 62 per cent respectively.
The study outlines just how expensive it can be to modify cars in addition to the outlay of paying for the raw materials and settling any garage bills. And although a rise in insurance once your new-look motor is back on the road can be offset by shopping around and cashing in on the online savings available through sites like moneysupermarket.com, Peter Harrison has insisted it is important to give careful consideration before personalising a vehicle.
Harrison, moneysupermarket’s car insurance expert, said: “Motorists need to be aware that even making a small modification to a vehicle can dramatically alter the cost the premium you will pay on your insurance.
“With premiums potentially costing more than 100 per cent more, motorists should consider whether the modification is really worth the extra insurance expense as well as the cost of the actual work done to modify the car.
“However, it is worse if motorists make any substantial changes to their car and fail to inform their insurer, as they risk invalidating their insurance completely. It is essential that drivers check the small print of their insurance policy to understand exactly what they are covered for, as many of the more common modifications such as alloy wheels may not be covered in a standard policy.
“If you do decide to modify your car, check beforehand what the cost of cover will be with your insurer and also shop around to see if you can get a better deal on your car insurance elsewhere that covers your modification.
“It is essential any change in circumstance is communicated to your provider otherwise you risk invalidating your insurance policy. Motorists should take the time to fully understand the small print of their insurance policy to ensure they are not caught out when trying to make a claim.
“It only takes a few minutes to make sure you really do have the best value policy to suit your needs. By shopping around for the best deal you can ensure you aren’t paying over the odds for your car insurance. The average saving using moneysupermarket.com is £280, so I urge everyone to do their research and ensure they are getting the best deal.”
