The Real Cost of Go-Faster Stripes!

New Study Reveals How Car Accessories Could ‘Drive up’ Your Premiums

Boy racers beware, because according to new research from price comparison website, thecomparisons.com, even the simplest of car accessories can drive up your premiums by as much as 50%.

Using information gathered from its panel of hundreds of different car insurers, thecomparisons.com has produced a ‘risk list’ of the car accessories and modifications that could end up burning a hole in your pocket.

Topping the list were ‘engine chip’ and ‘dump valve’. While both can dramatically improve a cars performance, they can also cost you a lot of money, and can increase car insurance premiums by up to 50% and 25% respectively.

Also making the list was car body kit, spoilers and even go-faster stripes, while a number of modifications – including turbo charging and nitro drives – could mean some car insurance providers would not consider insuring you at all.

Top ten costly car modifications (potential increase to annual premiums)
1) Engine Chip* – 50%
2) Dump Valve – 25%
3) Pick up/Caborlet conversion* – 25%
4) Body kit – 15%
5) Racing seats – 10%
6) Back Box* (exhaust modification) -10%
7) Lowered suspension* – 10%
8) Alloy/wider Wheels – 10%
9) Go-faster stripes – 5%
10) Rear spoiler – 5%
Turbo charging, Nitrous Oxide drive – normally unacceptable.
*some providers will not consider insuring at all

Data provided by thecomparisons.com panel members, including Express Insurance. Figures are intended as an approximate guide only.

Chris MacDonald, Director of thecomparisons.com, said: “Insurers will look at a diverse range of factors when providing a quote for a customer and even the most innocuous of accessories can drive up your premiums quite dramatically. It is important to remember, you should always register the correct specifications of your car when applying for a quote, or you could risk causing complications and delays if you do need to make a claim.”

“This really demonstrates the importance of getting a wide range of quotes, and what better way to do this than through a price comparison website?”