Modifying a car `could significantly increase insurance premium`

By Joel Stanier

Making modifications to your car could significantly increase the cost of a car insurance policy, according to moneysupermarket.com.

The comparison site found a number of examples in which certain modifications added to motorists` premiums: in one case, a built-in car phone added 44% to the overall price. The research also found that new alloy wheels could add 62% and having a new body kit fitted could add 101%.

And motorists could risk invalidating their insurance if they don`t inform their provider of any changes, the report added.

An insurance expert at Think Money said: "Modifying cars is a serious hobby for many people, but it`s important to stay aware of how much it could add to the overall cost of owning a car. As this research shows, insurance premiums can grow by a lot when these changes are made.

"Rather than doing the work and then informing your insurance company, it`s a good idea to call in advance to get a quote, so that you can see how it will fit into your existing budget.

"In the current financial climate, when many people are trying to cut back on their outgoings, some people may find that these modifications simply aren`t worth the additional cost on their insurance."

Tags: insurance, car insurance, insurance policy, insurance quote, moneysupermarket, car modifications

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