Modifying your vehicle can drastically effect your insurance



Modifying your vehicle can drastically effect your insurance

Did you know that modifying your vehicle can have a drastic effect on your insurance premiums and coverage?

It’s true!

If you want to avoid any unpleasant surprises, make sure to speak to your Edmonton insurance broker before you modify your vehicle or buy a used vehicle that’s been modified.


Let’s look at four factors to consider when it comes to vehicle modifications and insurance:

  1. What is a modification? In a nutshell, a modification is anything that’s added to a vehicle that isn’t factory installed. It includes anything from tinted windows and aftermarket radios and exhausts to modified powertrains, brakes and suspensions. Are you considering installing a turbo or alloy wheels and larger tires, or a roof rack, sunroof, wheelchair ramp, alarm system or back-up camera? These are all considered modifications. Even a new paint job may be considered a modification! Speak to your Edmonton insurance broker for an updated car insurance quote if you’re considering modifying your vehicle.
  2. Will modifications increase the value of your vehicle? Upgraded stereos, wheelchair ramps and fancy paint jobs are all likely to raise the value of your vehicle, making them more likely to be stolen and/or more expensive to repair or replace—therefore the possibility of higher premiums. Your Edmonton insurance broker will be able to give you an auto insurance quote for your specific vehicle.
  3. Will the modifications impact the vehicle’s safety and security? If your modifications enhance performance significantly or make your vehicle less trustworthy on the road (like a raised or lowered suspension), they could impact your premiums significantly and might even be illegal! On the other hand, modifications like aftermarket back-up cameras and alarm systems make your vehicle more secure and may lower your premiums. The only way to know with any certainty if these modifications affect your premiums is to get a car insurance quote from your Edmonton insurance broker.
  4. What if you just don’t say anything? Not a good idea! If you modify your vehicle and you’re in an accident, or the vehicle is vandalised or stolen, your claim might be denied if you haven’t reported modifications.. Talk to your Edmonton insurance broker!

Do you need an auto insurance quote from a reputable Edmonton insurance broker? Contact us at Drayden Insurance! At Drayden Insurance, we’ve been serving the insurance needs of Edmonton residents for over 50 years!

Contact us today for an auto insurance quote!

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