It is common knowledge that modifying your car somehow will increase the cost of your insurance premium and if you have been looking for insurance for your modified car you will be aware of how difficult and expensive it is to insure. Modified cars tend to have a greater value due to the cost of the sound systems, body work modifications, engine tuning and other enhancements and extras like alloy wheels, these are all expensive to add and would be expensive to replace.
When looking for car insurance for a modified car it can seem that insurance companies add excessive costs to your premium, this can be because many general insurance companies do not really cater for modified cars, may not understand the effect and cost the modifications have on the car and any potential repairs or replacements. You should take a look at the specialist insurance brokers and companies that have years of experience insuring modified cars, these companies are aware of the true value of your modifications and how much they cost to replace.
It may be tempting not to declare all of your modifications when looking for an insurance quote but you should not under any circumstances do this. If your car gets damaged you will not be covered for all the modifications to your car and would therefore have to pay for your own replacements. Not declaring modifications, even if they are purely aesthetic may make your insurance policy void so you should look into all the terms and conditions before purchasing.
Like sports cars, modified cars have lots of owners clubs full of people who have years of experience modified and insuring their modified cars. Owners clubs and enthusiasts groups work with the some of the specialist brokers and have arranged discounts for their members. It is worth taking a look at what is available for your type of car as you may be able to take advantage of a huge discount, not only on insurance but maintenance and other related services.
If you use your modified car to race on track days you will need an additional insurance policy to cover your racing and any damage which may happen when racing and you may find that your car insurance policy specifically states you will not be covered for track day racing. If you get your modified car insurance from a broker specialising in this type of insurance you may find this can be added onto your policy for a low, great value price.
Adding security devices such as alarms and tracking systems and parking your car on a garage or private driveway are both ways in which you could potentially decrease your insurance premiums.
Even if your car just has a few modifications you should consider getting a quote from a specialist insurer, you may be surprised at the great value and benefits available which the general insurers do not offer.