|
Insurance and modified cars
The Mini Cooper
has been a real success since its introduction fifty years ago. With the
launch of the new MINI now nearly a decade ago the enthusiasm for the
marque continues. The
combination of style and drivability has made it a winner with the
fashion-conscious and driving enthusiasts alike. As with many other ‘hot
hatchback’ cars, many Mini Cooper owners choose to customise their cars
with aftermarket modifications. These may include changes to the
bodywork, fitting an upgraded sound system, or making
performance-enhancing changes under the bonnet.While making
modifications to a Mini could yield more than just a few benefits, it’s
likely to have a knock-on effect on the price you pay for your
car insurance.
Modified cars are usually subject to higher premiums than those which
are factory specification. This is for a number of reasons.
Firstly, with upgraded performance comes a higher risk of being involved
in a road traffic accident. Improved parts cost more to replace, and a
car which is filled with expensive equipment also presents a bigger risk
to thieves.
Therefore, insurers will reflect the increased likelihood of you having
to make an insurance claim in the cost of your premium.
Most drivers will quite happily drive a car without modifications in
order to pay less for their insurance. However, for some enthusiasts,
going without modifications isn’t an option. There are a number of
measures drivers can take in order to keep the cost of their insurance
to a minimum.
Consider your modifications
When choosing modifications for a Mini Cooper, make sure that they are
things that you really couldn’t live without. There are certain
modifications that insurers prefer to others. For instance, fitting a
nitrous oxide burner to your car is universally frowned upon by
insurance companies.
Invest in security
Boosting your Mini’s security system with a Thatcham-approved device
will make it harder for thieves to get at your car, and the cost of your
car insurance could be reduced as a result. You could even invest in a
tracker device, which will allow your car to be located if a thief
manages to lay their hands on it.
Lock up your Mini
If
your house has a garage, make sure that your Mini is locked up
overnight. Doing so, and notifying your insurer of your good practice
will mean that your car is less likely to be targeted by thieves.
Agree to a higher voluntary excess
Agreeing to a higher voluntary excess (the contribution you make to an
insurance claim) can make your insurance cheaper. However, it should
always be kept to a level you could comfortably afford should you need
to make a claim.
Limit your mileage
Agreeing to a lower annual mileage will mean that you are less likely to
be involved in a road traffic accident, and your insurance will be
cheaper as a result.
Build up a no-claims bonus
Driving safely will help keep you out of accidents, and allow you to
demonstrate that you are not a liability on the roads. It will also mean
that you will have less likelihood of picking up any driving
convictions, which will also have a negative effect on the price of your
insurance.
Shop around
There are many companies offering car insurance, so the good news is
that there’s no shortage of choice. It’s a good idea to start your
search using a comparison website, which will allow you quickly and
easily check out the prices, features and levels of cover from many
different insurance companies by just entering a few details. Make sure
you carefully check the details of the policy before you buy, so you can
be sure that your insurance offers the coverage that you need.
|
