For some people, owing a car is just a necessity, however, for some it might be their most prized possession. They take care of it very devotedly and often look for ways to upgrade its functionality and make their car undergo some modifications.
Modifications. What does it actually mean?
Any alterations you make to your automobile after it was purchased from the manufacturer in its original state are considered to be car modifications. In simpler terms, it refers to anything that has changed the way your automobile looks or operates.
But why are we so interested in this term modification?
These modifications may jeopardize the vehicle's safety, which might have an impact on the premium for the car insurance. Any modifications or additions to your vehicle, such as security or performance-altering items, must be disclosed to your car insurance company. Your insurance price may go up or down depending on the changes made.
But do all modifications affect your premiums equally? No, let us discuss different types of modifications.
Types of modifications
Suspensions and brakes
Because the breaks are where the general control is, changing the crucial components necessitates an insurance business review. If you upgrade your car's suspension and brakes, the way it performs on the road will also alter. Any such modifications, together with the information about the service provider, must be communicated to the insurer.
Engine modifications
The risks of an accident may rise as a result of changes made to improve engine output and accelerator response. Overtaking, driving at a greater speed, and other accident-prone behaviors are involved in traffic accidents. So, installing a supercharger or turbo might raise the cost of your car insurance.
Interior of the car
If you intend to alter the inside of the automobile, including but not limited to the steering, pedals, wheels, sound system, seats, etc. it is recommended to let your insurance company know it.
Changes in the design or colour
You may believe that changing the paint on your car is the most harmless modification you can make, but it's important to let your insurance company know about it, especially if it's an unusual paint job, such as racing graphics or any other eye-catching design that can dramatically alter your car's appearance and make it stand out from the crowd. The rationale is that these changes raise the likelihood of theft, which raises the cost of your premium.
Your automobile insurance will be more or less impacted by any modifications, and alterations typically result in higher insurance costs. However, if a change is expected to reduce the chance of an accident or theft, it does not have a negative impact on the premium. For instance, parking sensors aren't considered modifications by insurance companies since they shield the vehicle from potential harm during reverse parking.
You are free to alter your automobile as long as you are aware of the associated expenditures. However, it is essential to let your insurance company know about any changes you make to your vehicle. This will enable the insurer to conduct analysis and adjust insurance premiums as necessary.
