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Car insurance options for modified cars

If you`re a modified car owner, you`ll know how difficult it can be to find a car insurance company that`s willing not only to provide cover but also to take into account the value of the modifications you`ve made.

Perhaps you`ve lowered your vehicle, fitted a body kit, tinted your windows, fitted a supercharger or uprated your turbo. You may even have fitted headlight conversions or bonnet vents, an induction kit or splashed out on door conversions, such as Lambo doors, scissor doors or gullwing door conversions.

Whatever the mods you`ve made, no matter whether they are minor tweaks to tuning or major transformations to bodywork, the golden rule is to declare them - all of them- when taking out a new car insurance policy. Failure to do so could invalidate a claim and land you in hot water.

What car insurance options are available for modified and custom cars?

Many insurance companies prefer not to insure modified cars, so you`ll need to shop around for quotes. You`ll also need to compare policies carefully to ensure that you are getting suitable cover for your needs. If you`ve spent thousands modifying your vehicle, then you`ll want that to be reflected in its insured value.

The key is to look beyond the mainstream conventional insurers and use a two-pronged approach to finding cover.
Firstly, use a comparison website (one that lets you specify the modifications you`ve made) to compare quotes from leading insurers. Although you may find that a limited number of insurers return quotes depending on the type and amount of mods you`ve made, this will give you a good indication of the cost and availability of cover. You`ll also need to get quotes from specialist insurers too, as these may be able to offer unique cover options for the modified vehicle you drive. As these specialists deal with custom cars on a daily basis, they have more experience of dealing with the needs of this type of car owner and can generally offer cheaper quotes or better cover. Some of the specialist providers include:

- Adrian Flux
Options include agreed valuations, limited mileage discounts, track day cover and discounts for car club members.

- HIC Insurance
Cosmetic modifications up to £1,500 are covered for free plus optional agreed value cover, cover for rallies, track days, meets and more.

- Performance Direct
An independent broker with a panel of more than 100 underwriters and a specialist in offering modified car insurance quotes.

-How car insurance companies set rates for modified cars

Insurance companies base premiums on risk. They`ll look at a number of factors including where you live, your age, gender, occupation, driving and claims history and the type and age of vehicle you drive. A modified vehicle presents a greater risk than a standard, unmodified vehicle does, typically because it is at an increased risk of theft or vandalism and the modifications you`ve made may affect handling or safety, or increase the power and performance of the vehicle and so increase the risk of it being involved in an accident. Modifications may also increase the value of the vehicle quite significantly, so again this will be reflected in your insurance premium as, should the vehicle be damaged or written off, the settlement figure is likely to be substantially higher than it would for a standard vehicle of the same type.

Generally modified car valuations are looked at on a case by case basis, and you may find that your insurance policy contains special terms. Young drivers are likely to find that their car insurance premiums will be high and are likely to include an increased excess - and many insurance companies will require drivers of modified cars to be aged 25 and over before they are willing to provide cover.

There are however, a number of ways in which modified car drivers can keep insurance premiums affordable:

- Enhance security
Fit a tracker to high value or high performance vehicles - this will help to lower the cost of your modified car insurance. Similarly, car alarms and immobilisers can earn discounts in the region of 10 per cent. Also look at adding wheel nut locks to alloy wheels.

- Park the car in a garage overnight
Due to the increased risk of theft and vandalism, keep your vehicle parked in a garage at night. Declaring this to an insurer could reduce your premiums by as much as 5-10 per cent - but don`t lie, you may need to prove it should you make a claim for theft.

- Take an advanced driving course
If you drive a high performance car, take an advanced driving course to prove to your insurer that you can handle the increased power. It`s worth consulting an insurer beforehand to ensure the cost of the course will effectively be earned back through premium savings.

- Limit your mileage
The less time you spend on the road, the less likely you are to make a claim and in turn this lowers your risk and your premium.

- Join a car club
Membership of a car club demonstrates that you are enthusiastic about your vehicle and as such are likely to take better care of it. In return, some insurance companies are willing to reward you with a discount, which may be as much as 10-15%.

In summary, if you want Cheap Car Insurance Quotes for a modified car use a comparison website to research all the deals available before shopping around among specialist insurers.

[Please note, deals were available at the time of writing - 20/11/2008 - and are subject to change]