Modified car insurance is expensive for several reasons. It depends on the type of modifications on your car. The more modifications on your car, the more expensive insurance will be. You must disclose modifications or they will not be covered under your policy. Insurance companies look at two main categories when determining the premium you will have to pay. One of them is the car modifications themselves.
When a car is modified it usually increases the value, making it a target of theft. When the engine is modified for more power, according to statistics, it is more likely to be involved in accidents. When it is involved in an accident, replacement costs are more expensive. Modifications can include a wide variety of changes, both large and small. All can increase the cost of modified car insurance. Some of the most common changes are lowered suspensions, engine modifications, body kits, alloy wheels, tinted glasses, as well as modifications to the interior. Engine modifications, enabling the car to go faster, will increase costs the most.
The other category that comprehensive car insurance companies look at is who will be driving the car. Modified cars tend to attract young male drivers. The terms, young and male, are already considered high risk drivers and a modified car puts them in an even higher risk category. Young men tend to drive faster and be more reckless. Inclement weather does not deter a young man from being on the roads, so the car is driven in bad weather conditions. Young men tend to park their cars in the driveway or on the street, making them a bigger target for thieves. A lot of modified cars are driven hard by young drivers and not well cared which increase accidents. These are the main reasons why modified car insurance is expensive.
