Motor - Insuring High Performance

High performance vehicles can be seen regularly on movies, video games and even have television shows dedicated to their modification and design.

And we’re beginning to see more of them on the roads in the UK, as enthusiasts spend money on modifying them for the purposes of showing.

From alloy wheels to specialist paintwork, owning a high-performance car can be an expensive hobby, and finding suitable insurance for vehicles with modifications and large engine sizes can be an expensive part of their ownership.

Many manufacturers offer car insurance policies for their own vehicles. With customers now able to get a car insurance quote and arrange cover while in the showroom.

When looking to insure a high performance car it’s best to shop around. Insurers will assess the value of such vehicles using trade guides in order to get an idea of the average price of the vehicle.

However these don’t take into account any modification work that might have been added to the car and this may even affect enthusiasts’ policies, as total loss values may not reflect any additional modification expenditure.

Policyholders may find themselves having to fork out a little more in order to cover any modifications they want to make to their vehicles. Most standard policies contain specific maximum limits of compensation which apply to after-market accessories.

Modifications can take vehicles out of the mainstream, although they can be seen as not adding significant value to a vehicle. Raising the question of how much you’ve spent on modifications to an insurer could make vehicles seem underinsured and any claims would be likely to be reduced through averaging clauses.

It is advisable to research car insurance before any modifications are made, checking that alloy wheels, body kits and other modifications are covered by a standard policy before rushing out and buying any kits.

By: D Collins