Car insurance: do you want to modify your car?
The spokesperson for one of the major insurance firms says there would be an increase of around 20% in auto insurance rates by the end of the year. The causes of the increase are due to the increase in auto insurance claims and numerous other increases in fraudulent claims.
Increasing insurance prices is the only option that insurance companies can use to cover their costs. If you have plans to modify your car, always remember that your rates must surely increase.
Alloy wheels, tinted glass, and engine trims are the kind of car modification that brings about a 10% increase in your fare. This is due to the fact that you are beautifying your car and making it attractive through modifications that could lead to theft or damage, which is why policy providers see it as a huge risk.
In today’s world, many people still find it hard to believe that about a third of car modifications are done by women in our economy. Insurers always advise people, especially the younger generation of drivers who are likely to modify their cars, to take note of the steady increase in rates. In addition, insurers make them understand that the added value of the modification will have a great effect on their finances and therefore advise people to make sure they can afford this additional cost. For safety reasons, insurers appeal to customers to be careful and honest about their car modifications because if they are not noted on your premium, your provider would not bother to pay you a claim even if there is no connection to the actual modification. of the car.
Compare as many auto insurance quotes as possible. This will give you direct access to the cheap car modification policy.