When you modify your car Modify your insurance quote

Insuring your car is an expensive business, particularly as insurance companies are raising premiums to compensate for the rising number of fraudulent claims. This means that many drivers are facing an increase in their premiums, despite gaining experience and building up a no claims bonus up. Having a modified car will inevitably lead to a higher insurance premium. It is always advisable to tell your insurance company what modifications you have made to your vehicle, as failure to disclose this information may result in your car not being covered should any damage occur following an accident. If you have added extras to the interior of your vehicle such as a more advanced stereo, sat nav system or DVD player/screens, ensure that these are covered under your policy as this may not be as standard.

One of the best pieces of advice is not to let your insurance renew automatically each year; chances are that the new quote you'll be given won't be competitive. Start by looking through the quote you received from you current insurer and what it includes, then compare this with other companies. This will allow you to check multiple insurers and brokers in one go. The results will also allow you to compare the level of cover you are receiving from each insurer and in turn you can then check this with the quote you received from your existing insurer. It may then be wise to compare these quotes with specialist modified insurers who may be able to offer added benefits to policy holders. Remember to check as many insurers as possible, as this will give you the greatest chance of getting the best quote for your vehicle.

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When adding additional bodywork and internal modifications to your car, it is recommended that you also include some extra security measures. Security is a modification that can lower an insurance premium, therefore it is recommendable to add some security features to counter the other modifications made to your vehicle. If you already have insurance, check that your insurer approves these additional security measures and modifications to ensure you do are not at risk of voiding the policy.

There are lots of other factors that can also affect insurance premiums for all types of cars, including modified vehicles. For instance, if you have access to secure parking or a garage then make sure you notify your insurer, as this may knock money off your premium. Another factor that may reduce your premium is checking that the added extras within your insurance are needed. For example, breakdown cover may be included within your policy but it may be cheaper to purchase this separately. Breakdown cover can often be obtained to cover more than one car in a household making a saving on multiple policies.
Adding a more experienced driver to a policy as a second driver can also reduce a premium, as insurers equate experience to safer driving. This may be an easy way to reduce your premium. Keeping your license clean of points is also a way to ensure that your premium is not increased too much. Combining these steps should lead to a reduced premium and allow you to spend more money on the car itself.

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