Modified cars are considered 'cool'. If you are thinking of modifying your car to make it look cool, you need to consider the modifications in your modified car insurance premiums and contract as well. As soon as you modify your car, you will need to modify your insurance policy since insurance policy is given to a particular car with certain specification. If these specifications are altered or modified, you will need to get your contract modified accordingly or maybe get a new one.

Insurance for a modified car used to difficult to get till some time back but things have changed in recent past. Insurance companies are willing to provide you an insurance policy for your car but there will be lot many factors which will come into play to come up with your insurance cost. These include but not limited to drivers age, sex, lovability, profession, income etc. It will also depend on the car details and how the car is modified.

As far as insurance companies are concerned, the modified cars are categorized into two types - show cars and street racing cars. And they calculate the insurance premium amount based on these criteria. Show cars are likely to do extremely low mileage meaning they will be much less driven. And usually, they are driven very carefully and in sunny warm weather. Since they are show cars, they are less likely to be stolen and are kept very nicely in a garage. Due to these reasons the insurance amount for these modified cars is not high.

The case is opposite for street racing cars. As the name denotes, these cars are meant for speed and racing. Therefore they are more likely to get abused and have accidents. They are more likely to be driven fast and in all kinds of weather. These kinds of cars are driven by "boy racers". All these reasons lead to high insurance premiums since they are at a very high risk of being involved in an accident and also being stolen. The premium will depend on how much the car has been modified, the power, age of the car etc. The modified car insurance for your drivers will also be a bit high due to age factor.

This brings to the topic of how the car is actually modified. The car can be modified in various ways and at many levels. Small modifications include things like filling alloy wheels will not increase the value of premium to a large extent. Adding security measure like alarm system, GPS etc will help you reduce the insurance amount. Major modifications and engine modifications are certainly going to increase the premium amount to a large extent since they increase the likelihood of the vehicle to be involved in an accident. There are certain other modifications like filling of exhaust systems, lowering the suspension etc which are covered on case to case basis. All these modifications may lead to increase in likelihood of the vehicle is stolen.

It is important to disclose all the modification while applying for an insurance policy. There is always a temptation to hide a few facts just to avoid increase in premium amounts but I guess this is not a wise thing to do. In case you are involved in an accident, then these things will show up in the accident report. And the insurance company can decline the whole payout which is going to be a big loss for your. Apart from that, this is also considered to be a fraud in legal terms.

But you can still get a good deal while you are shopping for modified car insurance. As mentioned earlier, the insurance companies look at the risk profile of the driver to determine the insurance cost. If you have a clean driving history, you should get some rebate. Car insurance for modified cars is available online. Just fill up the details of yourself and the car in detail and you can get quotes. You can compare the quotes and other terms and conditions before deciding upon the modified car insurance which best suits your need and budget.