16/12/2010

By Max Clarke

Research from Confused.com has revealed bad news for drivers looking for modifications from Father Christmas this year. A 20 year old male driver adding alloy wheels to their car could see the price of their premium rise by a massive £616.

For those who are willing to pay the price of modifications, it is worth noting some insurance providers will refuse to cover cars with them and therefore drivers who choose to modify, risk a narrowing of choice. Undisclosed modifications could also lead to the invalidation of a policy. It's also important to remember that the majority of car insurance providers, who will offer a policy, do not cover the modification in the event of theft or an accident. Whilst this might seem unfair as they have to be declared on a policy and an extra premium is charged, the extra actually accounts for the fact that the modifications either make the car more desirable to thieves (alloys, body kits) or improve the performance (exhausts, lowered suspension) of the car and therefore increases risk of accidents.

Will Thomas, head of motor insurance at Confused.com said, "It may well seem like a better idea to buy a cheaper, smaller car and modify it than invest in a more expensive, newer car but this could prove to be false economy. Adding modifications at a young age may contribute to a premium price that can drive motorists off the road. 17 - 20 year olds have seen prices rise by a massive £6162 over the last 12 months so now, more than ever, it is essential to be careful with things that may end up adding more costs.

For young drivers looking for cheaper premiums, start with the classic small-engine run-around in order to build driving experience. Smaller, less powerful cars represent a smaller risk and therefore are a lot cheaper. And, whatever the type of car, it is always essential to shop around to get the best deal."