Widen your knowledge about modified car insurance

Insurance is a very complex subject and slight ignorance can lead to more expenses and less benefits and knowledge in this subject can help you save a lot of money. Many people in UK are saving up to 400 pounds on their car insurance and you too can be one of them only if you pay heed to some important tips. The amount of premium varies considerably on a number of factors. Anything that increases the risk of the vehicle is bound to increase its premium too.  You will have to pay more for modified car insurance compared to general car insurance. For example, cars which are modified as per one’s taste and need generally have a higher premium value than those which are driven without any modifications in it. Some people have a simple taste and drive the car the way it is purchased.

But there are some who have a very sophisticated taste and are often not satisfied with some features of the car. They aren’t pleased with the standard factory brand or style of the vehicle. They want it to look bit more special. So they often make some modifications such as bringing a change in the alloy wheels, roof spoiler or even bucket seats. These modifications often impart a better appeal to your car and also increase the level of performance. Its value also increases and it definitely provides you the satisfaction you have been craving for. But you have to pay a big price for it in terms of insurance because any modification done in the car increases its premium. So you will have to pay much more premium for availing insurance for the vehicle. Your insurance premium will be greatly affected by such modifications and hence you must keep these vital facts in mind.

Modified car insurance premium is always more than the non modified ones and insurers are often found to be wary of such modified cars because of their higher risk factors. For example, if a new body kit or exhaust system is fitted in the car; it is bound to enhance the car’s performance. In that case, the likelihood of claim also increases. Even in case of minor modifications such as tinted windows or alloy wheels, the same principle statistically holds true. Even new and young drivers pose great risk to the car and hence are not often entertained for insurance quotes.

Some companies refuse to provide quotes and those which do provide modified car insurance quotes, often charge high premiums. Some people use the strategy of reaming quiet about any modification that they have made in their car so as to save themselves from the extra premium that they would have to pay. But you must beware of such practices because if these modifications are revealed later, it may affect the benefits of the policy and may put you into legal complications. Your policy may be invalidated and the insurer deserves the right of barring you from any kind of benefits even in cases of claim.

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