Auto Insurance – Do You Wish to Modify Your Car?

A top leading insurance firm’s spokes man claims that there would be a rise of about 20% in the car insurance rates towards the ending of the year. The causes of the increment are due to the increased claims in car insurance and other numerous increase of fraudulent claims.

Increment of insurance prices is the only option that insurance companies can use in covering their cost. If you have plans of modifying your car, always remember that your rates must surely increase.

Alloy wheels, tinted windows and engine adjustments are the type of car modification that brings about 10% increase in your rate. This is due to the fact that you are beautifying your car and making it attractive by modification which could lead to theft or damages so policy providers sees this as a great risk.

In the world today many people still find it hard to believe that about one third of the car modifications are done by the women in our economy. Insurers always advice individuals especially the younger generation of drivers who are likely to modify their cars, that they should take note of the steady increase in rates. Also the insurers make them understand that the added value of modification will have great effect on their finances and therefore them advice people to make sure that they can afford this extra cost. For security reasons, insurers appeals to customers to be careful and honest with their car modifications because if they are not noted on your premium, your provider would not bother to pay you out on a claim even if there is no connection on the actual modification of the car.

Compare as many auto insurance quotes as possible. This will give you a direct access to cheap car modification policy.

Source by Victor Chukwueke

Ben Wills

I am a professional finance expert and business lover.

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