Yes. Any changes made to your car can have an impact on its insurance. So, it is better that you first consult the insurer before you make any changes to your car. If you don’t do that then you may be actually uninsured when you will drive the modified car. In such a case, if the modified car meets with an accident, your insurer might not pay costs for damages.
There are some changes that can raise the performance of your car and even increase its market value. Besides, your modified car may also seem good-looking to those on the road. But you need to know that changes in your car can have some dark side as well.
Some types of changes in your car can cause breakdowns or even engine performance leading to an accident. If your insurer doesn’t have knowledge of the changes that you have made in your car, it will amount to a violation of the coverage terms and conditions. So, your claim will be denied. When applying for modified car insurance, you will likely need to provide details about the specific modifications made to your car, as well as any changes to its performance or handling.
Car modifications can affect insurance rates. Changes in your car can have an effect on its safety as well as performance. And it will also have some bearing on its market price. Most of the insurers will ask you to give all the details of your car for providing coverage. So, if you hide any information about your car and it comes to filing a claim then the facts will come out. It will be treated as a fraud committed by you. In the worst case, your car policy might even be canceled.
Certain changes in your car can impact its safety and performance in a big way. If some changes have been done in its engine, suspension, tire size, etc. then they must be reported to the insurer. These can be enough to alter the performance of your car on the road. The car insurer might even ask you to get a new car policy in this case.
Your car policy may not cover new parts if they get damaged in an accident. But making changes to your car comes at a cost and that can be huge at times. There is no doubt that the changes will raise the market price of your car but it can also lead to a rise in the premium. Some parts that you buy from the market, later on, can be expensive. And they will not be covered by your regular car policy if they need to be replaced. So, the coverage cost will shoot up.
