Working on any vehicle and doing some modifications is something we all love. Modifications come in all shapes and sizes, and their primary goal is to make your car better. They are usually divided into two categories. The first category of modifications improves the performance, whereas the second category of modifications improves the appearance. Certain people love to get them both because having a fast car might not be enough if it looks awful. Many have been wondering lately, what modifications affect car insurance? Well, this article is the right place to learn everything you need to know about car modifications and car insurance.
As we said, there are two categories of modifications, and both are equally important when it comes to insurance. The whole point of getting a car insurance is making sure that even in the case of an accident, you are going to be covered for any damage and repair you have to do. Taking this into consideration, stating the actual condition of your vehicle before getting one is crucially important. We are going to let you know why.
For example, your car might be worth $10,000 before you do any modifications. The insurance you have before the modification is the one that the insurance company is aware of. In a case of an accident, you are covered only for the amount of money of what your actual car was worth. Now, if you do certain modifications and improve the look or performance of your car, the car that was worth $10,000, it might be worth $15,000 after you do the modification. If the insurance company does not know about this, you might actually lose some money in the case of an accident. What was once cheap to fix, now might be extremely expensive.
This is one of the main reasons why you need to declare every single modification you do to your car. It does not matter if it is a minor one, it is still a good idea to notify your insurance company. Try to be as honest as possible, and also try to provide as many details as you can because of the risk calculation. If you fail to do so, your insurance will probably be invalidated, and you might be stopped from getting any financial protection. Some of the most obvious modifications you must declare are: engine modifications, wheel modifications, bodywork, car interior, and brakes and suspension.
Though we must state that these specific modifications will probably lead to a much higher insurance quote from the insurance company, at the end, it is still worth it. You are probably going to change thousands of dollars on them, so paying some extra cash for getting the right insurance is not a bad idea. Moreover, you are going to be calm and know that even in the case of an accident, the insurance company is going to get you covered for any repairs. After reading this article, you know that even the slightest modification is worth declaring to your insurance company.