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Motorists advised to tell insurers about modifications

Posted on Wednesday, 13 July 2011 03:38PM by Editor

Motorists advised to tell insurers about modifications

Drivers who fail to inform insurance companies of any modifications to their cars risk invalidating their policies.

That’s the warning being issued by Peter Harrison, a car insurance expert at moneysupermarket.com, after Britain’s leading price comparison website looked into the cost of modified car insurance following changes to a vehicle, like opting for a new body kit or a set of alloy wheels.

Harrison said: “It is essential any change in circumstance is communicated to your provider otherwise you risk invalidating your insurance policy. 

“Motorists should take the time to fully understand the small print of their insurance policy to ensure they are not caught out when trying to make a claim.

“It only takes a few minutes to make sure you really do have the best value policy to suit your needs. By shopping around for the best deal you can ensure you aren’t paying over the odds for your car insurance.

“The average saving using moneysupermarket.com is £280, so I urge everyone to do their research and ensure they are getting the best deal.”

Moneysupermarket’s analysis highlighted that adding a body kit could result in a 101 per cent increase in insurance premiums, while connecting a car phone or fitting alloy wheels may lead to a price hike of 44 per cent and 62 per cent respectively. It also outlined that a change in jobs will impact on how much it costs to get covered. A bus driver, for instance, pays an average of £454 per year, while a children’s entertainer pays a whopping £890, the highest amount found in the study.

Harrison added: “Motorists need to be aware that even making a small modification to a vehicle can dramatically alter the cost the premium you will pay on your insurance.

“With premiums potentially costing more than 100 per cent more, motorists should consider whether the modification is really worth the extra insurance expense as well as the cost of the actual work done to modify the car.

“However, it is worse if motorists make any substantial changes to their car and fail to inform their insurer, as they risk invalidating their insurance completely.

“It is essential drivers check the small print of their insurance policy to understand exactly what they are covered for, as many of the more common modifications such as alloy wheels may not be covered in a standard policy.

“If you do decide to modify your car, check beforehand what the cost of cover will be with your insurer and also shop around to see if you can get a better deal on your car insurance elsewhere that covers your modification.”
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