What Is Modified Car Insurance?

Modified cars are the cars which have been altered from their original specification. This modification can be done for various reasons. Some people modify the car to make it look cool and some modify it to make it run faster. If you are considering to modify your car for any reason, you should know about modified car insurance as well.

The standard car insurance which you take while buying a car is for standard specification of the car. In case you decide to modify your car, there is a good chance that your car insurance policy becomes invalidated. You will either need to get your insurance policy modified or buy a new one.

The insurance companies divide the modified cars into two categories which are street racing cars and show cars. These categories have different impact on your existing insurance policy. While show cars are driven very less, these are modified to make them look ‘cool’. The mileage on these cars is very less and they are kept in a very nice way. These cars are generally kept in a locked garage. Due to all these reasons, the insurance premium of these types of cars is less.

The case of street racing cars is just the opposite of show cars. As the name suggests, the racing cars are modified to run faster. These cars are generally driven by boys for street car racing. These cars are heavily abused and are very prone to accidents. The modifications done to these cars vary from car to car. Usually, the engine is modified to increase the horse power. Since the risk of car damage increases in these cars and these cars are driven by people of lower ages, the premium amount for the insurance policy increases.

Apart from the above two variations, various people modify their cars in different ways. The most common example is the replacement of wheels to fit in alloy wheels. This is usually considered to be a minor modification and should not impact the premium amount. Some people lower the suspension or modify the exhaust system. These types of modifications call for a case to case basis evaluation by the insurance company.