Why does it cost more to insure a modified car?
To understand how much more it might cost to insure modified cars compared with those that haven't been altered, we looked at our own stats. The average top 5 premium with a clickthrough for cars with no modifications is £710.55, and for those with modifications it’s £758.49 – a difference of £47.94 more, on average**. Obviously, depending on your driving history and the modifications you choose it may well be much higher – or lower - for you.
The cost of your insurance premium is based on the probability of you making a claim. So, when it comes to modifications, insurance providers will consider the following factors:
- If the modifications increase the value of your car, then the insurance claims you make could be higher as it’s often more expensive to repair or replace parts.
- If you’ve made your car faster, it could increase the risk of you being involved in a speed-related accident.
- Your car may be at greater risk of theft, especially if you’ve had expensive tech installed, or you’ve modified its performance.
- Insurance providers could also assume that any modifications that change the car from the manufacturer’s standard settings cannot be guaranteed and may affect the car’s integrity.
- Young drivers are statistically more likely to claim on their insurance, so any modifications they make could raise their premium even more.
Don't forget, if you modify your car during the insurance term you need to notify your insurance provider about the change. This may alter the cost of the premium and you may also be charged an amendment or service fee too. Check with your provider before you start your modifications to see how it’s likely to affect your premium, so you have all the information you need to decide whether you want to go ahead.
**Based on Compare the Market data taken from 1 January 2019 to 1 April 2019.