The way insurance companies work out premiums and assess risks is a mystery to us all. In general the smaller engine you have the less you'll pay for your insurance cover. However, different companies can give a wide range of quotes so it pays to shop around.
When you do ring up for a quote, watch your attitude. Arguing will just cause you hassle and probably raise your quote a few notches. If you get put on hold don't say anything, hum along with whatever tune the have playing because some companies put you on speaker to see if your pulling a fast one.
When it comes to insuring your modified car DECLARE EVERYTHING, although it is tempting to think "oh they'll never know" the chances are if you do have an accident they will inspect your motor and find all the little bits you "forgot" to mention. If that happens say goodbye to the insurance pay out.
There are many specialist insurers who realise that just because you've modded the car, doesn't mean you're suddenly going to turn into a raving looney.
What type of Cover ?
Third Party only - Basically covers other peoples property. So if you hit someone and its your fault, their car gets repaired but yours doesn't.
Third Party, Fire & Theft. - As above but pays out if your car bursts into flames or gets nicked. It doesn't cover anything that gets stolen from the car like your stereo for instance.
Fully Comprehensive - In theory this covers you for any loss or damage whether its your fault or not. You can also "protect" your no claims discount with fully comp insurance. It costs more but it's well worth the extra money.
Ways to limit your premium
Make yourself the only driver.
Use a garage.
Fit a top alarm & immobiliser.
Build up your no claims discount.
Hang on to your NCD by getting it protected.
Avoid speed cameras & the law.
Insurance Friendly Mods.
Rule number one : DECLARE EVERYTHING!
Rule number two: Ask your insurers how a mod will affect the premium before you fit it.
Body Mods - Even a tiny rear spoiler can be classed as a "body kit". Anything which alters the exterior appearance should be declared. As long as its not too extreme the jump in premium should be small if anything.
Brakes - Uprating standard brakes, with better discs, seldom makes any difference. When you go for bigger discs and calipers then they might get a bit twitchy.
Engine Mods - Induction kits and back boxes don't often change premiums but the mere mention of "chipping" will make them very nervous and they might even refuse to insure you.
Interior Mods - As with exterior mods so long as you don't go too extreme it shouldn't affect the premium too much.
Light - Because they're safety related you'll probably have to answer lots of questions but so long as the replacements are sensible and legal you shouldn't have any problems.
Security - Mention any security device you have, alarms, immobilisers, steering locks, rotweillers and trackers. But be honest, they won't be impressed if the find out your Cat 1 immobiliser is the entry level halfords job.
Suspension - Average suspension drops of 30-40mm are fine, go much lower and they may charge you for it.
Wheels - Specialist insurers usually don't mind a nice set of alloys but just about every other insurer will put up the premium.
Finally.... remember rule number one DECLARE EVERYTHING!
