When you modify your car, most of the time it will increase the value of your vehicle. To insure a modified car, you must add additional coverage or purchase a separate policy.
Almost every insurance company will offer optional coverage for aftermarket parts and modifications. With this coverage, you will be assisted in paying for repairs or replacements if the car is damaged. Usually, the premium for a policy like this would be about 10% of the value of the modifications.
There are also a few different types of policies that you could invest in. Such as a Custom Car Insurance Policy. This policy may be harder to find, but some insurance providers offer coverage for modified vehicles. If you have a classic car, some insurance companies will offer classic car insurance.
When you're modifying your car, make sure to look at your insurance before doing so. Some changes may already be covered by your insurance plan, but some may not be. This could mean that not only are you investing money into the car, but also raising your premiums. If this is something that you do not budget for, it could come back to hurt you in the future. When you make any changes to your vehicle, give your insurer or broker a call and they can help you figure out what policy is best for you.
For any questions please call AZ Insurance Team at (480) 535 5709
Independent insurance brokerage located in Tempe, AZ. We offer auto insurance, homeowners insurance, life insurance, renters insurance, commercial insurance…
Disclaimer: Coverage will vary on state, insurance company, and type of policy.
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