Modified Car Insurance
So you’re thinking about building a cool modified street car; but before you get started, you need to consider your car insurance premiums. Insurance for a modified street car used to be hard to come by, but things have changed a bit. However, one thing that hasn’t changed is the way in which insurance companies determine the insurance premium for your vehicle. It’s all about the risk profiles of the driver and the car; and insurance companies tend to determine your risk profile by placing you as a driver into categories like gender, age, income, etc. and the same goes for your car.
As far as car insurance companies are concerned, there are two types of modified street cars: show cars and street race cars. Show cars are likely to do extremely low mileage, usually in warm sunny weather, and are usually drives very carefully. They are also less likely to be stolen, and more likely to be garage parked at night. All of this is good new for your insurance broker. A street racer however is a different story. These cars are more likely to be abused, involved in accidents, driven in all weather, driven fast and at high RPM, stolen, parked in the street, and driven by ‘boy racers’. As a result the insurance companies have to charge a large enough premium to cover any possible claim. How much the insurance increases deepens upon the type of modification. Continue Reading »Modified Car Insurance
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