Can a Car Be Insured If It was Heavily Modified?
Automobile insurance providers are very careful to assess their clients’ safety status, as they do not want to insure people which are very likely to make claims. That is how the auto insurance market works, after all, and higher risk means higher prices for coverage. Included in the “high risk” category of factors which can increase insurance rates is the potentially high costs involved in repairing a car. With that in mind, here are a few thoughts about heavily modified vehicles.
One of the reasons why heavily modified vehicles can cost more to insure is that the added components might be worth more than the original vehicle itself. Of course, not all modifications are worth that much, and there are other factors which influence the price you of your insurance policy, such as the extent of the modifications to your vehicle, your state of residence and the insurance company which you have chosen. It is possible that the auto insurance company could have certain standards when it comes to defining modifications, which may include structural changes to the frame, chassis, and/or body of the vehicle, custom paint jobs and increases in performance.
However you put it, any changes you have made to your car need to be reported to your insurer. If your modifications were not reported or if they are illegal, they almost certainly will not be covered in case your car gets damaged. In some cases, insurance providers might also choose to null your insurance policy altogether because you modified your vehicle and did not announce them. In order to make sure that you are financially covered in case your vehicle gets damaged, you should notify your insurance company of any modification you have made.
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