How Modifications Affect Car Insurance Premiums

How modifications affect car insurance premiums

Most youngsters can’t wait to get behind the wheel of a car for the first time. The chance to own their own wheels and ride the roads is something most youngsters relish – and they want the hottest looking car to do it in.

However, making your car look as good as possible does come at a price – any modifications you add will hike your car insurance premiums. However, while this is bad enough for just about any driver, it takes on added significance for young drivers.

Research from a comparison website has found that under-21s opting for ‘go fast’ extras including the likes of exhaust system changes, tinted windows and spoilers could see their insurance costs hiked by as much as £6,225.

How much can modifications add to a car insurance bill?

The cost of insurance for a car that has been modified can be wide ranging depending on what modifications have been fitted to the car. For example, side skirts can add around £88 to a car insurance premium, whereas tinted windows on a Ford Focus 1.6 will add around £756 to its premiums. Some system changes can be even more far-reaching – for example flared wheel arches and wings can increase premiums by a whopping £3,500 whereas those who add a new exhaust system to the car can expect to pay an additional £6,225.

It’s not just adding your own modifications that can be costly – simply opting for a manufacturer’s highest specification when you first buy the car can also prove to be an expensive car insurance mistake.

Young drivers that opt for the sportier versions of cars such as a Vauxhall Corsa or Ford Fiesta could more than double their annual car insurance premiums. A Peugeot 206 GTI is one of the worst offenders – it adds an extra £6,485 to the premium, raising the cost of insurance from £4,638 for a regular Peugeot 206 to £11,123 for the sport version.

Why young drivers must be careful with their car insurance premiums

Though modifications can hike the cost of anyone’s car insurance premiums, young drivers must be particularly careful because they can already face sky high bills.

Even though young drivers represent a mere seven per cent of the car insurance market, they actually account for 34 per cent of dangerous driving offences and 30 per cent of those killed or seriously injured on the UK’s roads are under the age of 25. As such, insurers deem them a higher risk and premiums can be extortionate until they have built up several years’ driving experience.

How can young drivers cut their car insurance costs?

The key message for young drivers is to think about their vehicle choice. Though it’s tempting to want all of the highest modifications on a sporty new car, the fact is that this will see them punished heavily with high premiums. So why not wait a few years until you have established yourself as a competent driver in the eyes of the insurers before making these changes?

Young drivers should ideally opt for the lowest specification on a vehicle. They should look for cars with small engines and with regular car parts that are easy to repair in the event of an accident. To do this they can search for cars by their insurance group using the Association of British Insurers’ database. The lower the insurance group for the vehicle, the lower the premiums are likely to be.

If you do want to make modifications to your car despite the additional cost then at least consult your car insurance provider as you make the changes. Ask it how much each modification will add to your insurance premiums and work out whether it is something you can honestly afford.

Thankfully, there are additional ways for young people to save money on car insurance. Completing the Pass Plus for example, can help drivers save an average of £357 on their car insurance. Several insurers also offer rapid bonus schemes to help you earn a full year’s no-claims discount in your first nine or 10 months of driving; and other insurers may offer limited mileage discounts. Increasing the security of a car by parking in a garage at night, etching windscreens and installing alarms and immobilisers can also help you save.

Of course the key to finding cheap car insurance is to use a comparison website to compare deals from insurers – make sure you compare prices from specialists too if you wish to modify your car.