Many modifications can result in increased car insurance premiums, but some can actually help to bring premiums down, experts from Quotezone.co.uk have revealed. No matter how minor the modification may be, it is essential that motorists inform their insurer if they don’t wish to invalidate their car insurance by having incorrect or outdated information.
The pandemic saw an increase in car owners making improvements to their vehicles to personalise them or make them a little different from the standard car on the road.
The increase in sales of parts to make vehicles, faster and flashier during covid restrictions was a major contributor to the rapid growth of the UK’s aftermarket automotive industry which is now valued at £28 billion.
But some modifications may cross a line of legality and not only invalidate the insurance policy but also leave the motorists liable to pay a hefty fine.
Experts from leading UK price comparison website Quotezone.co.uk, have now named the modifications that can cause car insurance to skyrocket, and those that can actually help to reduce premiums.
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Car modifications that might decrease or have no impact on car insurance premiums:
Higher performance brakes
Higher performance brakes, including high-temperature brake pads, can lead to shorter and more consistent braking in a car. Adding these to a car can sometimes reduce premiums quite significantly, whilst giving it a sports-like feel.
Parking sensors
Parking sensors are a safety feature that can reduce the risk of an accident occurring when the driver is parking the vehicle, which means adding this feature could reduce the premium.
Private numberplate
Private numberplates should not increase insurance premiums, but if they don’t comply with Government guidelines on spacing, height, and size, they can be classed as illegal and be spotted by the police.
Extra security add-ons
Anything that makes a car more secure can reduce insurance premiums, as it lowers the risk of theft – most cars come with an immobiliser but look to add a tracker and a dashcam to increase security.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.