Performance Modification and Insurance Companies

[marhsava]

So what is considered a performance modification to an insurance company, for eg, does installing a downpipe be categorized as a performance modification and if so does it change your insurance preiumns?

 

[KingMikel]

So what is considered a performance modification to an insurance company, for eg, does installing a downpipe be categorized as a performance modification and if so does it change your insurance preiumns?

Yes. You install if for better performance on your vehicle. Yes, it makes your car faster, it also gives them an indication of the type of driver you are. it will increase your premium.

Only mod you can probably get away with is a K&N (high performance) filter as you can argue the lowered costs because you can clean it.

 

[marhsava]

Yes. You install if for better performance on your vehicle. Yes, it makes your car faster, it also gives them an indication of the type of driver you are. it will increase your premium.

Only mod you can probably get away with is a K&N (high performance) filter as you can argue the lowered costs because you can clean it.

do you have any idea how much your premium could increase ,like a ballpark figure

 

[Sumen]

Affects Of Car Modifications On Insurance

A modification is a great way to personalise your car and improve its performance. But, it does come with a downside -your car insurance premium can climb as steadily as your revs. Did you know that, should an installation go awry, you could forfeit your insurance coverage and/or your manufacturer warranty?

Perhaps you were thinking of extra headlights or a”souped up” engine to let your car perform at its peak. Before you do, make sure you inform your insurance provider, as you could be penalised for not informing them of any new ‘improvements’.

Why? With performance enhanced assembly parts, your car can reach high speeds far more rapidly than a standard manufactured car. This, in turn, makes you more of a risk when out on the roads.

Why Do Modifications Change Your Car Insurance?

There are two key areas that affect your car insurance premium once you have enhanced your car with modifications and aftermarket parts. These include:

1. Risk of accident – As mentioned earlier, enhancing your car’s performance means that your car will now be able to reach high speeds in a short amount of time. This poses you as a risk to insurance providers as you will be more inclined to speed.
3. Risk of theft – Some modifications, such as phone kits or performance modifications, also increase the chance of your vehicle being stolen or broken into.

Advice On Insuring a Modified Car

• Always tell insurers about all modifications made. Not declaring modifications invalidates your policy.
• Different insurers have a different view on what constitutes a modification. Always check with your provider first before modifying or purchasing a modified vehicle to see how your policy will be impacted.
• When renewing insurance for a modified car, compare quotes to see where you can get the best deal. Why? Each insurer has a different view on risk which makes a comparison a great way to find the cheapest deal as well as deal that suits your financial and lifestyle situation.

Source:http://compareguru.co.za/news/do-car-modifications-affect-your-insurance/

 

[airborne]

Yes. You install if for better performance on your vehicle. Yes, it makes your car faster, it also gives them an indication of the type of driver you are. it will increase your premium.

Only mod you can probably get away with is a K&N (high performance) filter as you can argue the lowered costs because you can clean it.

Couldn't a downpipe with moderate driving also be used as a fuel saving device?

 

[Batista]

Couldn't a downpipe with moderate driving also be used as a fuel saving device?

Yes, but they will never see it as such.You just go into the 'street racer' category