Most people drive their cars from point A to point B without thinking twice about how their car looks or what people think of their vehicle. However, as car enthusiasts, it can often be torture to not add some sort of modification to your car. Whether for performance or aesthetics, changes, like hood scoops, can enhance your vehicle and show off your personality in the process. These modifications, though, can also affect your insurance rates.
Though many people do not see why modifications can affect their insurance rates, insurance companies view alterations as an increased risk; a risk that can cost them a lot of money. The danger lies in significant events such as car accidents and car thefts, where your vehicle will have an increased cost of repairing or replacing.
In the event of a car accident, an insurance company will need to repair your car with new parts. When these repairs are done, depending on the extent of the damage in the accident, an insurance company will need to cover the price of whatever parts need replacing. If your $11,000 body kit gets destroyed in a crash, for example, then the insurance will need to replace the body kit with a new one; if it is covered under your policy. For parts that are rare, this can pose an additional issue.
Car thefts can be a result of the modifications on your car. The new hood scoop that you got looks not only good in your eyes but also looks good in the eyes of a thief. If your vehicle is stolen, your insurance company will need to provide you with a check for the value of your car and parts on it.
If not installed correctly, modifications can harm your car; leading to more hassles. Some parts are not designed to work together and, without changes to another part, may break all of the components involved. Some of the most known companies do a lot of research and development to ensure that this does not happen. Be aware of this when purchasing new parts.
It is essential to think of the impact that any modifications can have on you or your car. Most times, the effect is positive, but it’s possible that modifying your vehicle can have consequences, especially in an accident or if you live in a sketchy area.
Although you may not directly be responsible for these incidents, your insurance views you as such anytime you modify your car. As a result, they may charge more for the increased risk associated with any changes to your vehicle.