Modifications & impact on insurance
Discussion
Only owning a almost boggo standard 997, I wanted to know from guys that have 'modified' their cars as to what level of modifications (and types) start to fundementally affect the insurance cost ?
Are there certain types of mods that just automatically send costs thru the roof (ie power increases etc) ?
How specific do you need to be to an insurance company regarding the "mods" ?
I assume the specialist insurers in the Stickies, above, would probably be better experienced to quote on such cars ?
Are there certain types of mods that just automatically send costs thru the roof (ie power increases etc) ?
How specific do you need to be to an insurance company regarding the "mods" ?
I assume the specialist insurers in the Stickies, above, would probably be better experienced to quote on such cars ?
Edited by CampingGaz on Monday 26th May 20:36
Not sure on the cost of modifications to Porsches but I own a modified TT and I pay about 400 a year with all mods declared. My power increase (around 80 bhp) added 20 quid to the premium with other mods having absolutely no effect on insurance. My Boxster (completely standard) insurance is more expensive.
I think the trick is to use a broker used to these things (I use Greenlight). The underwriter in my case has been the same for almost 10 yrs now counting all the cars I had with them. You need to declare absolutely everything but that's not a bad thing in itself, i.e. it's the easiest way of remembering all that was done!
With insurance personal circumstances do make a difference though.
I think the trick is to use a broker used to these things (I use Greenlight). The underwriter in my case has been the same for almost 10 yrs now counting all the cars I had with them. You need to declare absolutely everything but that's not a bad thing in itself, i.e. it's the easiest way of remembering all that was done!
With insurance personal circumstances do make a difference though.
Depends upon your policy at the end of the day. On some of the specialist policies you can actually do quite a lot without any effect on your premium (generally only big power increases cause increased premiums). Conversely, many mainstream companies will sting you for minor bits and pieces or refuse outright to even quote.
To put some more context to this - How do you deal with this while looking to buy in the pre-owned market?
I have been out looking to replace my current car and have seen a couple that are modified and was trying to include or discount them without messing the buyers about. I would not want to be classed a 'tyre kicker'.
The insurers won't quote without v explicit details (as opposed to stating it's a 'x' model' and gaining a quote).
I assumed there would be some 'linear' scale - ie non-std wheels +x%, aero kit +y%, remapped +z% etc.
In my mind (rightly or wrongly) a modified car demands a far greater premimum.... maybe more than I can afford and hence affects the potential purchase.
I have been out looking to replace my current car and have seen a couple that are modified and was trying to include or discount them without messing the buyers about. I would not want to be classed a 'tyre kicker'.
The insurers won't quote without v explicit details (as opposed to stating it's a 'x' model' and gaining a quote).
I assumed there would be some 'linear' scale - ie non-std wheels +x%, aero kit +y%, remapped +z% etc.
In my mind (rightly or wrongly) a modified car demands a far greater premimum.... maybe more than I can afford and hence affects the potential purchase.
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