A representative from a top auto insurance provider stated that auto policy rates by the end of the year are likely to increase by up to 25%.
This is because the policy claims are on the high rate, in spite of the rise in the number of fraudulent claims.
Insurers can only meet up with the cost by increasing their premium.
Are you thinking of modifying your car, then be prepared for your policy rate to be raised higher.
Your premium can be increased up to 10% if you decide to modify your car.
Below are some car parts that can attract high premium when changed; spoilers, tinted windows, alloy wheels, adjusted engines and others.
This will make your car unique and therefore makes it attractive to burglars.
It is likely that your claim will be higher than someone who has never thought of car modification.
Insurance providers are left with no option but to increase your premium.
The reason is as a result of the high risk involved.
Research has it that three quarter of people involved in car modification are women.
Young drivers are advised not to get involved in car modification because it will affect their finance.
You need to consider the extra cost involved in car modification before you indulged in it.
To get the best car insurance that will give your car the best modification at a reduced rate, get quotes from different insurance companies and compare.
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