Modified Car Insurance
Modified car insurance is a speciality cover that protects vehicles that have had the factory specifications and parts changed, often upgraded for looks or performance. Insurance companies consider any modification as an increased risk factor, and higher premiums for those vehicles are a result. That extra speed or horsepower changes your vehicle’s risk profile, and you get charged more for insurance for a modified auto mobile.
Modified car owners are often very attached to and proud of their vehicles. Modifications make cars flashier, faster, more powerful and often more valuable than standard models. They can also tempt drivers to not drive as safely as they would in, say, a family van. Because the condition of the car is so important, modified car owners usually take extraordinary care of their vehicles. Because of that higher attention to the condition of the vehicle, many modified car owners opt for the fullest coverage they can find – the comprehensive modified car cover. Searching for affordable plans through “normal” insurers can be frustrating. Instead, look for speciality companies that understand the passion and attachment for lower premiums.
Modified Car Requirements
To drive legally in the UK, all drivers and all cars must carry at least the minimal third-party cover. That level of insurance protects against a driver’s liability for damage to another car or property and for injuries to someone else. It does not contain any protection for the insured person’s car or injuries, however. Modified cars, vintage or classic cars, and collectible cars may be required to have fuller insurance in addition to written approval from the Department for Transportation.
As with women’s car insurance, providers consider a list of factors in determining an insurance premium. The power, speed and design of the vehicle are three applicable factors for modified cars. Also considered are the vehicle weight, average repair times and the price of repairs: The more expensive it is to repair a modified car, the higher the premiums will be. Repair times are often longer as speciality parts are scarcer and more expensive. Insurance companies consider even modified wheels, suspension and body profile as increased risk factors for stability, visibility and theft probability.
Modified auto insurers – those speciality companies – who target their business toward this type of car usually offer more reasonable rates as the target group shares the same car passion. Joined care and attention usually means known and shared risk. If you own a modified car, seek these companies out as your first approach to securing quality insurance benefits for the lowest possible price. Compare numerous speciality companies against each other to find the truest deal in cheap modified car insurance.
Classic Car Policies
Like modified cars or kit-built vehicles, collectible auto mobiles and many vintage and imported cars must meet safety and operability standards before they can be registered, even if not driven on roadways. Vintage and collectible cars must carry “classic” insurance, which is higher than normal to reflect the higher than standard value of these cars. Repairs and parts replacement can often take far longer than usual with these cars as parts are significantly rarer than an average sedan.
One of the ways to reduce classic car insurance is to engage security devices that reduce the risk of theft. Locking in enclosed garages, installing alarms or fitting with high-performance locks are only three possible actions. However, before you purchase any security device, contact your insurance company to ensure you purchase an authorised and recognised device to maximise your savings.
Cheap Modified Car Insurance
If your hobby is kit-cars or you prefer modified or classic cars, you probably are passionate enough about that vehicle genre to avoid surrendering that passion because of insurance costs. You can minimise your overall insurance price by earning no claims discounts, increasing your voluntary excess or pay annual premiums instead of monthly ones. Combining insurance policies is another venue to discounted car cover: Either include other vehicles on one policy or include other drivers on a multi-formatted policy for shared costs. You can also combine other types of insurance with the same company to enjoy terrific discounts.
Young drivers who drive modified cars will assume the financial burden of two high-risk insurance groups – age and type of car. If you are a male under 25 years old and love to assemble kit cars, you are a member of the highest risk group in the country. Expect your premiums to reflect those three escalation factors – gender, age, and car type. Definitely investigate safe driving course credits, security device and safe parking practices and above all, drive very defensively to spot hazards before critical times.
Modified car insurance meets the modified car fan’s insurance needs. You can find affordable insurance for the vehicle, though, if you are patient and seek several quotes from reputable providers. Combine your efforts with combined cover quotes for full investigation. Tailor your cover for your needs and your budget.