The modifications in your car might increase the insurance cover cost by 101%. While flaunting your newly installed alloy wheels or car phone among your friends, you might have to face the skyrocket cost of the car insurance.
According to a research, the car owner making modifications in the wheel might have to bear a dramatic rise in the car insurance cost. While upgrading your vehicle, if you will fit alloy wheels or complete body kit, there will be a rise of around 62% to 101% in the car insurance cost. The car insurance rises by 44% with a built- in car phone in vehicle.
According to the car insurance expert, the motorists needed to be aware while making car modifications, as it directly influences the premium cost of the car insurance cover. The car owner needs to consider the worth of modification while spending on the cost of modification as well as further on extra insurance expense.
The motorist needs to inform the insurer about any car modification, as any substantial change in the car will not only modify your car but also the car insurance cover. The motorists who fail to inform their insurer about car modification are risking third insurance cover as it can be invalidated anytime. It is better to pay more rather than risking policy invalidation, as it might lead to trouble during emergency.
The drivers must check out the details of their insurance policy, as some of the common modifications like alloy wheel installation is not covered in the standard policy.
It is better to check with your insurer before modifying your car and in case you find the deal expensive then shop around at car insurance comparison site to get an affordable insurance deal for your modified car. One needs to be cautious about hike in the insurance cover before going for any car modification.