Modified Car Insurance: Is It Cheaper?

What is Modified Car Insurance?

Modified car insurance is a type of policy that provides coverage for cars with modifications made to them. This type of insurance is offered by many insurance companies, and is typically more expensive than standard auto insurance. Modifications can include engine upgrades, suspension modifications, and performance upgrades, among others. It is important to note that modified car insurance is not the same as specialist car insurance, and the latter typically covers classic and vintage cars.

Why Would You Need Modified Car Insurance?

Modified car insurance is necessary for anyone who has made modifications to their car. Such modifications can be minor, such as aftermarket wheels, or more substantial, such as a turbocharger or an engine swap. Without modified car insurance, you may not be covered for any damage or repairs that result from the modifications. Additionally, modified car insurance may be a requirement for certain racing events, depending on the type of modifications made to the car.

Is Modified Car Insurance Cheaper?

Modified car insurance is typically more expensive than standard auto insurance, as it provides coverage for more expensive and unique modifications. However, some insurance companies may offer discounts or incentives for drivers who have modified their cars responsibly. Additionally, some companies may also offer discounts for drivers who have taken a defensive driving course or have a clean driving record. It is important to shop around and compare quotes from several providers to ensure that you are getting the best coverage for the best price.

How to Reduce Modified Car Insurance Costs

There are a few steps you can take to reduce the cost of modified car insurance. First, make sure you are only modifying your car within the limits of the law. This includes ensuring that all your modifications are approved by the Department of Motor Vehicles. Additionally, you may want to consider installing safety features such as airbags, anti-lock brakes, and other features that can help to reduce the cost of your premiums. Finally, consider raising your deductible or lowering your coverage limits to reduce your premiums.

What Else Should You Consider When Purchasing Modified Car Insurance?

When purchasing modified car insurance, it is important to consider the type of modifications you have made to your car. Remember to include any performance upgrades and other modifications in your policy. Additionally, you should ask your insurance provider about any discounts or incentives they may offer for modifications that are designed to improve the safety of your vehicle. Finally, make sure you fully understand the terms and conditions of your policy, including the types of coverage it provides and any exclusions.

Conclusion

Modified car insurance can be a great way to ensure that you are covered for any damages or repairs that result from modifications you have made to your car. However, it is typically more expensive than regular auto insurance, so it is important to shop around and compare quotes from several providers. Additionally, there are a few steps you can take to reduce the cost of modified car insurance, such as installing safety features and raising your deductible. Finally, make sure you understand the terms and conditions of your policy before signing up.