Modifications added to vehicles are a common practice observed by car enthusiasts around the world. Whether you decide to customize with added woofers, perform a sparkling new paint job or simply give the vehicle a new look, there is something that you must think about before jumping onto the bandwagon of car modifications.
Customizing your vehicle brings with it a number of ramifications related to your automobile insurance coverage. And just in case you happen to be wondering how, here is everything you need to know about adding additional features to your car and its effect related to auto insurance coverage. Let’s take a look.
What kind of modifications will a standard auto insurance coverage plan cover and not cover?
Whenever you attempt to modify your car, always keep in mind that this will surely affect your auto insurance coverage plan. Modifying your vehicle in a manner that uses aftermarket parts are usually excluded from a majority of the standard policies available so be aware from the beginning.
A number of insurers tend to regard a common automobile as being modified when the body, the chassis and the frame undergo customization. This includes a customized paint job whose value extends beyond thousands or when the overall performance of the vehicle is enhanced.
Most auto insurers do not pay for the modifications done by a client. There is a major exception to this clause and that includes the tires or the rims of the vehicle. This must be shown with adequate proof of receipts and it must be noted that only a certain sum of money can be reimbursed when a loss settlement is on the cards.
What sort of considerations should you make before attempting to make customization?
The following two types of coverage are great options for cases where loss claims have been filed. They include the following:
Supplemental coverage is great at giving users good protection against any modifications or customization. This includes aftermarket components.
Classic/collect able auto insurance
In cases where your policy plan isn’t sufficient in terms of covering and protecting your reimbursements made to your vehicle, the collect able auto insurance plan can do great justice. This is because you can now receive your claims from an insurer whose specialization entails customized cars.
Common insurance considerations to make before opting to modify your car
It’s so important to read your existing policy in a thorough manner. This way, you’re well aware of any exclusion as well as any exceptions that are to be made. Let’s not forget how important it is to take your insurer into confidence before attempting to make any customization attempts on your vehicles, before you sign the policy terms or even during the policy term. Last but not least, never ever hide customization from your insurer. If you happen to be caught in the middle of an auto accident, you will only receive the amount for which your car sums up to be before any modification was made in the first place.