If you own a high performance or modified car or are considering buying one then you will probably already know that your motor insurance premiums are going to be higher than insuring a standard car. This is down to a calculated increase in risk of theft or accident and a likelyhood of higher repair costs and this will be reflected by the insurance quotes you receive.
There are many specialist performance car insurers available from those specialising in custom or modified vehicles with custom paintwork, alloy wheels, body kits, modified interiors and tuned engines to insurers who produce unique cover for individual manufacturers of high perfomance cars such as Lamborghini, Jaguar, Ferrari, Mercedes and Maserati. Buying an insurance policy designed specifically for the type of car you drive will guarentee that you are receiving the correct level of cover.
AccessoriesStandard insurance policies are calculated with trade guides used as a reference, unfortunately the guides do not take into account the value of any additional expenditures made after purchase. In other words any money invested in modifying your vehicle is unlikely to be reflected by the payout you will recieve from your insurance policy in the event that your modified vehicle is written off. Indeed when it comes to additional after-market accessories, most policies will have a fixed maximum limit of compensation, making it best to check whether the value of such items will be covered by your insurer before you go ahead and purchase them.
BodyworkBodywork modifications and custom paint jobs are often the most pleasing changes you can make to your vehicle as well as the most noticable. Unfortunately for those of you who choose to do this, you must be aware that whether the changes are considered an improvment is entirely up to the individual. The general motor trade are very wary of cusomistaion work and may in many circumstances view the modifications as a reduction in the value of the vehicle.
Buying OnlineBuying insurance online is often faster and cheaper, even for high performance vehicles because the process is automated and this reduction in costs is reflected in the quotes you receive. Be aware though, that even though it is cheaper a high performance or modified car will be more expensive to insure than a standard vehicle