Insurance may be significantly more expensive for a performance-modified vehicle. The standard definition of a “modification” is any accessory or modification to a vehicle that differs from the car manufacturer’s standard specifications for the model and year of manufacture.
Some insurers may interpret any modification as a sign that you are a boy-racer, even if the modification has no effect on safety. We’ve heard of an example where a customer was told that even a ” gear knob” would render his car uninsurable.
We’ve found that insurers’ views on modifications can be related to age, risk and claims history. We know of a case where a 50-something male has no problems insuring his performance-modified Ranger Car.
Disclosure is particularly important when it comes to modifications. You must tell your insurer about any vehicle modifications when you’re taking out your insurance policy. If you don’t, the policy may well be void. And this isn’t just about deliberately withholding information. Even if you forget to tell the company something, you may find your insurance useless when you need it most.
Be careful when buying a Japanese imported car, because the car may have been modified. You might have a vehicle that meets the definition of a modified car even if you didn’t alter it yourself.