For many people on the outside, the appeal of modifying your car is difficult to understand. However, not everyone wants to pimp their ride. For many car enthusiasts, modification and customisation instead offers them the opportunity to learn more about the mechanical inner workings of their car as well as engage in a social group of likeminded individuals.
Speaking to Your Existing Insurer
Unfortunately, none of this will change the fact that most vehicle modifications will result in you paying higher car insurance premiums. If you’re considering modifying or customizing your vehicle anyway, though, the first thing you should do is consult with your existing insurer. They’ll be able to let you know the added costs you can expect, as well as any other changes to your policy.
At this point, you should weigh up the pros and cons of the agreement before you commit to a decision. If it will be too expensive, you may want to consider waiting until your current contract expires and then search for a provider who offers you a better rate. What you mustn’t do is make any changes to the vehicle without letting your insurer know. If you do this, you risk voiding your policy altogether.
Searching for a New Insurance Provider
If you cannot come to an agreement with your existing insurer, it may be in your interest to look for alternative options. While vehicle modification may seem like a niche interest, it still holds a sizeable market and for some providers, like A-Plan, it’s actually worthwhile to offer specialized rates to appeal to those with modified vehicles. This will likely get you a much better rate than if you were to negotiate a new deal with your existing supplier after the fact.
Even with these savings, however, the reality of the situation is that you’ll still be paying more than your standard rate. If you’d like to reduce your premiums closer to your original prices, consider taking an advanced driving qualification to prove your skills. You could also consider paying for a secure garage to store your vehicle in. This is important as, for many lenders, modified vehicles are seen as an added risk because they are more attractive to potential thieves.
Whatever your final decision, it’s crucial that you make it with all of the information on hand. Sound out all of your available options and move on from there.