Its true that insurers consider various aspects of the vehicle before providing cover and there are some car modifications affecting insurance.
This is in terms of costs for insurance and also the type of insurance cover you should get.
Most car modifications that effect insurance but also there are those that have no effect.
Insurance covers usually change their premiums whenever you undertake certain modifications.
It is wise not to underestimate the impact of any modifications that you perform.
For example, modifications of performance attract the highest premiums while those of paint-work will attract lower premiums.
Any modification on factory fitted specifications will alter the insurance premium.
Fitting body-kits, lowered suspensions and turbo-chargers will increase the insurance premiums.
Basically, because insurance providers calculate their premiums based on the risks.
So, any modification can increase or lower your risk score.
Hence the reason why it is important to inform your insurance when you perform any modification.
Insurance assign a risk score based on factors like:
- Will the modification raise the risk of theft by attracting thieves?
- Does the modification increase the risk of an accident?
- If the modification increases the value of the car by making it expensive to repair or replace.
Let us assess some minor car modifications that affect insurance.
Tinted windows.
According to insurance regulations, the tinted window must let in at least 70% of light.
It is one of the car modifications that affect insurance.
Insurance providers will consider this because it restricts your vision.
Some insurance companies will not even consider covering vehicles with this modification.
In fact, some will increase the premium rate if your car is heavily tinted.
Alloy Wheels.
Insurers will consider a modification on your wheels.
This car modification that affects Insurance by causing an increase in the premiums.
You may decide to modify the factory fitted wheels by altering their color or installing new ones.
The Insurance company acknowledges the fact that any alloy wheel modification may attract thieves.
Car Seats.
There are many different types of car seats to choose from.
This car modification affects insurance by increasing or reducing.
As much as it affects your driving comfort, you are advised to inquire from your insurer before modifying the car interior.
This does not affect each insurer so check in with your provider first.
Roof rack.
Did you know that adding a permanent or temporary roof rack counts as a modification.
Insurers will push premiums up by up to 8% if you undertake this modification. But the increase varies from one insurer to the other.
Air Conditioning.
Insurers want to calculate the cost of everything they are supposed to cover.
So, this shouldn’t surprise you that adding an air conditioner to your car will increase the premiums you will pay.
In fact, some insurers will increase their premiums by up to 13%.
Parking Sensors.
One of the car modifications that affect insurance by usually decreasing premiums is the installation of parking sensors.
Because parking sensors have the positive effect of reducing chances of an accident. Insurers will usually reduce premiums by up to 13%.
Tow Bar.
This is another car modification that affects insurance positively by reducing premiums.
According to insurers, a tow bar usually slows the vehicle down.
Because of this reduction in speed, the insurers feel that you are less likely to get into an accident.
Car Decals.
Most insurers will have different opinions concerning this car modification.
Some don’t care about the decorative modifications while others declare that it raises the risk.
Some decorations like stickers and vinyl wraps may be insignificant to insurers.
Make sure you declare any mods because you are not sure how the car modifications affect insurance.
This ensures that insurers will declare the modifications on your policy.
Basically, if you haven’t declared a modification and you try to make a claim, your policy could be declared as invalid.
So, the insurer will refuse to pay as well as to reduce your rates.