Pimping your ride? Here’s how that affects your car insurance…
If you are modifying your motor (turbo and all) or adding things onto your car, you need to let your insurer know and here’s why
Did you know that when you have modified your car, this will affect how your car insurance quote will be calculated and result in you paying a higher premium every month?
You might be thinking “I don’t need to tell my insurer about the sound system or turbo I installed in my car” - but the thing is, every modification you make can affect your car insurance.
Any change you have made to your car that differs from the way it was originally made is defined as a vehicle modification.
Is my car a ‘modified’ car?
Obviously, there is nothing wrong with making impovements to your car. But, you need to know that any modification can impact your insurance premium and cover.
Every insurance company is different and will have a different take on what is factored in when working out your premium and what is seen as a modification. Some may charge you more for mods and others might not even affect your cover.
The most common forms of car mods:
● Mega sound system that exceeds the approved decibel levels (meaning it is very loud)
● Changes to boost your engine
○ Turbocharge is an example of this as it increases speed and performance
● Dropping your suspension
● Applying a very dark tint to your windows
● Fitting bigger wheels, spoilers, tail fins, body panels etc.
● Changing your exhaust/silencer system to make it louder
● Chipping your car to improve performance
● Installing a cooling sysrem to improve airflow and performance
How will my car modification impact my insurance premium and what should I tell my insurer?
You might know this already, but your insurance is based on a risk profile created for you. What this means is that all of your personal details, accident and driving history, age and car are taken into account when working out your premium.
This means that any car mods will also be taken into account as they may increase your risk of an accident or theft. Modifications to your car’s performance will be taken into account and if they make your car drive faster, then this means you are a greater risk to insure as faster speeds results in a higher risk of serious accidents taking place.
The same way that modifications to improve the look and appearance of your car might make theives more inclined to steal it and sell it for parts.
The higher your insurance risk, the higher your premium.
Here’s what to let you insurer know about your mods
As we always say - honesty is our best insurance policy.
And as cheesy as that may sound, it’s the truth. The best thing to do is to be completely, 100% honest and upfront with us about any changes you have made to your car, even if you believe them to be minor changes.
If we deem the modification to be irrelevant, then we will not factor it into your insurance premium.
If you don’t tell us about all the details of your car, then if something happens, like an accident, then we have the right to reject your claim based on untruthful facts given to us by you. This means you will be left to pay damage and any other costs.
If you are looking for affordable vehicle insurance, then why not give us a call and we can discuss just how cool your turbo is and what this will mean for your insurance policy. As much as we want you to be honest with us, we will do the same thing with you and disclose any information you need to know about upfront.
We also offer full comprehensive car insurance. Which means we cover you for a lot more than the average insurer.
We even have an in-app chat function on our Oneplan app for you to ask us any questions you may have. Our smart app also means you have 24/7 access to your cover and plan details.
Yours in uncomplicated car insurance,