How Will Car Modification Affect Your Insurance Policy?
Ever thought of getting your car fitted with flashy headlights or turbo engines? How about replacing those boring wheels with some robust alloy wheels? It might seem tempting to get your car customised in order to gear up its performance and appearance but there is one thing we often miss considering. A small glitch – it can increase the cost of your car insurance premium. In fact if you are wondering and trying to evaluate factors that might be contributing to your car insurance costs, car modification is one of the most prime reasons. Irrespective of your age, type of car, gender and driving experience, this one factor can substantially affect your insurance cover. Even though you have got the car modified for enhancement of its features, you have to be ready to pay a higher amount of premium for it. You can check various auto insurance plans on HDFC Ergo website to check the one that suits you the most.
Car modification definition?
Any big or small modification you make to your car’s factory model to make it look different, appealing or efficient is known as modification of your car.
Wheel modification may enhance the look of your car but at the same time it may upturn its value. So, do not forget to disclose such modifications to your insurance provider.
Making any modifications to your steering wheels, seats, sound system or pedals should also be informed to your insurance company. The quality and wear and tear of these additions vary, and hence it affects your insurance premium too.
You may think that getting your car’s paint changed is the most harmless modification you can think of, but it is vital that you inform it to your insurance provider, especially if it is an extra ordinary paint job like racing designs or any other eye catching design that can significantly change the look of your car and make it stand out in the crowd. The reason is that such modifications increase the possibility of theft and as a result your premium amount increases.
Therefore, it is imperative that before getting any kind of modifications done to your vehicle, you inform your insurance provider well in advance. This will help your insurance provider calculate the impact and let you make a wise decision. Also remember that any modification you make to your vehicle may undermine your policy if you do not inform your insurance provider on time.
Disclaimer: The above information is for illustrative purpose only. For more details, please refer to policy wordings and prospectus before going ahead with the sales.