Q&A: What is Modified Car Insurance?

Modified Car Insurance is a specialist type of insurance which requires extensive knowledge of both cars, and modifications. If you own, or are looking to own a modified car, then this type of insurance may benefit you over standard car insurance. Your ‘standard car insurance’ policy won’t necessary cover all your modifications.

We often get asked many questions when someone's enquiring about taking out a policy. So, we thought it would be a good idea to collate the more ‘frequently asked questions’, and answer them for you. We understand that it can all appear to be a bit complicated initially, but we're here to help simplify things for you...

What is Modified Car Insurance?

Modified Car Insurance is different to standard car insurance. It requires an insurance specialist with knowledge of the technicalities of car modifications, and the specifications of car parts. Adding modifications to your car can add value, increase theft risk, and make it more difficult to find replacement parts. Therefore, insurance providers term modified cars or vans as ‘non-standard vehicles’. Because of this, the insurance premiums may sometimes be higher. However, at Safely Insured, we believe Modified Car Insurance drivers are better drivers, because their cars are their pride and joy.

What are the benefits of Modified Car Insurance?

At Safely Insured, here’s just some of the benefits we can offer when it comes to insuring your car:

• Introductory discounts
• Discounts / special rates for members of our Car Clubs
• Second car discounts
• Limited mileage discounts
• ‘Like for Like’ Modification Cover
• ‘Agreed Valuation’ Modification Cover
• Breakdown Cover (upon request)

What are the most popular modifications to add to your car?

• Alloy wheels
• Body kit / Spoilers
• Exhaust upgrade
• Suspension (lowering/ stiffening)
• Induction kits
• ECU (chipping)
• Turbo conversion
• Engine swap
• Custom resprays
• Interior upgrades

FAQs (frequently asked questions)...

1. What classes as a modification?

Anything that has been altered from factory standard, or since it has left the factory. For example, something as small as a sticker will class as a modification, and your insurer should know about it.

2. Must you disclose every single modification when taking out a policy?

Yes. And you should update your insurance company accordingly, every time a modification is added to the car thereafter.

3. How can you potentially reduce the costs of a Modified Car Insurance policy?

• Obtain the 'PassPlus' qualification via the Institute of Advanced Motorists (beneficial for Young Drivers).
• Increase security features – add an alarm or immobiliser if it doesn’t already have one (particularly ones which have been categorised by ‘Thatcham’). This is one of the most effective ways of preventing car theft / break ins.
• Park your car somewhere safe – garage or driveway.
• Limit your mileage – ‘limited mileage discounts’
• Tracking devices – for vehicles with a high net-worth (such as Lamborghini or Ferrari).

4. What are the minimum requirements for 'Third Party Fire and Theft Cover'?

Under a Safely Insured policy, the minimum requirements are:

• You must be at least 19 years' old
• You must have at least 1 year NCB (No Claims Bonus)
• You must have held a full UK driving licence for a minimum of 2 years

5. What are the minimum requirements for 'Comprehensive Cover'?

Under a Safely Insured policy, the minimum requirements are:

• You must be at least 21 years' old
• You must have at least 1 year NCB (No Claims Bonus)
• You must have held a full UK driving licence for a minimum of 2 years

6. What are the issues insurance companies are faced with when it comes to modified cars?

• Value – the increased value of the car also represents an increase cost of a claim, should there be one.
• Theft
• Replacement parts – certain parts can be harder to come by than others, in addition to an increased cost if they need to be sourced from over-seas.
• Drivers risk – if a driver has installed a supercharger, the performance will be significantly higher, this subsequently makes the ‘drivers risk’ higher.

So, hopefully we have answered all your questions. If not, Contact Us for more information.

Further information: Modified Car Insurance | Performance Car Insurance | Imported Car Insurance