Car modifications could add almost £100 on the cost of your car insurance and also put you at more risk of an accident on the roads in the UK.
Motorists modifying their car could add £95 on to the cost of their car insurance as well as increase the risk of them having an accident.
News data from MoneySuperMarket reveals that drivers with a modified vehicle pay on average £95 more to insure their car.
However, almost half (45 per cent) admit that they have not notified their insurer, which puts them at risk being denied a payout if they were to make a claim.
Over a quarter (28 per cent) of motorists who have added a modification to their car have also been involved in an accident, compared to 22 per cent of those that haven’t made any changes to their vehicle.
The most popular alterations motorists are making to their cars include adding a tow bar, alloy wheels, and fitting parking sensors.
Of all alterations, the most-hated modifications are loud exhausts (64 per cent), while altered suspensions (28 per cent), spoilers (25 per cent), brash paint jobs (23 per cent), loud sound systems (23 per cent) and big bumpers (19 per cent) also featuring. Modifications can simply include things such as a sat nav.
Tom Flack, Editor-in-Chief at MoneySuperMarket, commented: “There are numerous reasons why you might want to modify your car, from improving performance to making it more aesthetically pleasing.
“While we generally think of modifications as loud exhausts and body kits, something as small as getting a parking sensor installed can count as a modification, so it’s worth notifying your insurer whenever you make any change to your vehicle.
“Different insurers have alternative views on what constitutes a modification, so it’s worth taking the time to check if any changes you make will impact your policy. If in doubt, talk to your insurer.
“While your car insurance may go up as a result of a modification, you don’t have to accept the price and stay with your current insurer.
“By shopping around, you could easily find a cheaper deal with a different insurer and save yourself up to £222 in the process.”
Published at Tue, 07 May 2019 05:56:00 +0000