Will Customizing My Car Affect My Premiums?

Adding modifications to your vehicle may attract attention, but it can attract higher premiums as well. Certain modifications that can be made to your car can raise your premiums, while others have little to no impact. Depending on what you do to your vehicle will determine if it affects your auto insurance rate.

Performance modifications are likely to make your premiums go up. These are customizations made to a vehicle to increase the speed and performance. Insurance companies raise premiums for this as drivers who tune their engines are likely to drive faster. With more power at greater speeds, this makes the car high risk since it’s more susceptible to getting wrecked.

Aesthetic modifications will not make a great impact on your insurance premiums depending on what you do. These are the customizations you make to your car to add appeal. Certain modifications that improve the vehicle’s appearance could possibly cause a slight increase in your premiums, around 10% with some insurance companies. The reason for this is because a really nice looking car could attract unwanted attention, such as thieves or vandals. However, modifications such as tinted windows and alloy wheels are not likely to affect your rates much.

One key to remember if you are considering modifying your car is this; if it increases the value of the car, more than likely it will increase your premiums. Insurance companies use the value of the vehicle to calculate quotes.

If you want to customize your car, check with your auto insurance provider to see what types of modifications could affect your premiums. Ask how much of an increase it would be to make the customizations. There may be some modifications they will allow that won’t raise your premiums. If the modifications you want to make to your car raise your premiums, you may consider comparing quotes from other companies to find cheaper rates.