Modified Car Insurance Guide – plus up to a 20% discount for Fast Car Magazine readers!!!
With major changes like a 1JZ Toyota Supra engine and gearbox, standalone ECU, stripped interior, roll cage and bucket seats, as well as almost every conceivable change from original spec to make this a competitive drift car, it is not a car you would be able to enter the details of into an insurance price comparison site to give you a quotation. A car like this requires an insurance company who understand modified car insurance. The Skyline R32 is insured by Driftworks sponsors Sky Insurance for limited road use. The Skyline has all of it’s modifications including the engine swap listed on the insurance policy and covered on a like for like basis, the Skyline also has an agreed valuation.
Whether you own a competition spec Drift car or have simply added a set of alloy wheels to your own car, it is well worth reading this article in full to understand more about how modified car insurance works but also where to find the correct insurance cover for your modified car.
Why should I disclose the modifications on my car when getting a quotation and buying insurance cover?
The best way to answer this question, is with another question: Do you want your insurance cover to be worth the paper it is written on?
Insurers need to know what they are covering so it will be no surprise to learn that if you do not tell the truth about your car’s modifications then your insurance cover may be invalid. When you need to use your insurance, ie if you are at the side of the road with a damaged car, you may bitterly regret not declaring the modifications. Not only that, the UK’s Police Force are becoming wiser and wiser to non-declared modified cars.
Why take the chance? There are many insurers who will cater for and even specialise in modified car insurance, you just need to speak to the right companies.
Where should I insure my modified car?
A modified car insurance specialist like Sky Insurance. Please remember that Sky Insurance offer a Fast Car Magazine discount of up to 20%! You will jot find Sky Insurance on any internet price comparison sites, you must phone them!
What does ‘like for like’ modification cover mean?
Like for like modification cover means exactly what it says on the tin, any modifications on the car, if damaged in an accident, will be replaced with that same modification rather than the manufacturer’s standard parts. This cover will be applied up until the market value write off threshold is reached. If you have spent money modifying your car then you would be silly not to opt for like for like modification cover.
Can I insure an engine-swapped car?
Engine swapped cars are easy to insure, if you speak to the right insurance providers of course!
The insurer will loosely base your insurance premium on vehicle of which the donor engine originated and may well look for supporting modifications, eg upgraded brakes and suspension.
View the engine-swap insurance website page
Agreed valuation insurance
Some insurers will offer an agreed valuation against your vehicle at the start of your policy. This is an excellent way of having peace of mind that if your pride and joy is damaged beyond repair in an accident then you will receive your full agreed value figure back. Agreed valuations are great for modified cars but you need to be realistic with your proposed agreed valuation when going through the application process, just because you have spent £2000 on some bling bling wheels, that doesn’t mean they add £2000 to your car’s value. Your agreed value should be based on how much your car would sell for to a like minded car enthusiast.
^Team Sky Insurance/Driftworks Skyline R32 in action at BDC Round 1, April 2013. Photo Courtesy of Kevin Wilson – Smokin Images^
How to Contact Sky Insurance and claim your Fast Car Magazine Discount