All About Modified Car Insurance

Modified cars, unlike run of the mill cars are prized possessions. Most custom built owners spend a lot of money, time and effort in building and maintaining their 4 wheeled dream machines. Custom made cars are gaining great popularity and these are not only expensive, but are usually held close to heart by their patrons. If you too are one of these patrons, you would obviously be interested in adequately protecting your investment. Although there are many similarities in an insurance policy of a normal and a custom built car, there are some extra features which you need to take care of. Listed below are some crucial features that you need to consider while purchasing your insurance policy, so you can cut down the costs effectively.

- If you own a modified car, your insurance requirements would be more than a generic car. Custom modified cars are fitted with special parts and equipments which are usually of high costs. Therefore pay special attention on replacement value attached to these custom parts, special paint jobs or upgrades.

- Because there is no blue book to decide the valuation of a custom modified car, such car owners are often at the mercy of the insurance companies to offer them a valuation. In such cases, many car owners often find that the insurance pay out does not cover their repair costs to rebuild their cars after an accident. It is therefore recommended that you get your custom modified car evaluated by independent experts who will advice you on the real value of your vehicle and how much coverage is needed for it.

- While making modifications, upgrades or additions to your car, remember to store the receipts for the various parts and equipments. Most insurance companies will require these receipts as proof while calculating your coverage and claim amount on your car insurance policy.

- It is important to understand that if your car falls in the category of vintage or classic vehicles, the insurance requirements for that would be totally different than modern car insurance. Vintage cars are regarded more as collector items than normal vehicles used for commutation. Therefore greater importance needs to be given on the total guaranteed payout to the owner incase the vintage car is damaged or totaled.

Apart from these issues, a typical insurance policy for a modified car is structured similar to a factory produced car. Every state has its own mandates on 3rd party liability insurance for motored vehicles. These liability clauses should cover 3rd party from injuries and death incase the insured vehicle and its driver is found to be at fault in an accident. Similarly 3rd party property is also covered from damages. Apart from liability coverage, motor insurance policies also offer coverage on medical bills for the driver and other passengers incase they are injured in an accident.

Though insurance on modified cars are expensive because of the high risks involved in modifications like Nitrous Oxide cylinders, it is imperative that all car owners should be adequately covered through insurance. An annual payment of a few hundred dollars on your car insurance policy may save you thousands of dollars in the form of medical bills, repair costs and 3rd party liability.