Installing performance parts or making cosmetic adjustments, modifying a bike can add value and power – but it can also add to your bike insurance premiums.
Whether you’re buying a new, modified motorcycle or you’re planning on modifying your current ride, here’s a look at how modified bike insurance works and how you can get the best price on your cover.
Modified bike insurance explained
If an insurer thinks a customer is more likely to make a claim for an accident or theft, or that their pay-out will be expensive if you make a claim, they’ll charge you more for your insurance to cover the risk.
Making modifications to your motorcycle or buying a bike which has been modified previously can result in higher insurance premiums because the risk to the insurer goes up.
For example, if you make any modifications which make the bike faster, or buy a bike already modified to make it faster, insurers might see this bike as more likely to be involved in an accident than a slower bike and charge more to insure it.
If the modifications are aesthetic only, they won’t necessarily have an effect on the bike’s performance, but they could increase the bike’s value.
Insurers may take a dim view on this because it will either become more attractive to thieves, increasing the risk of it being stolen and you filing a claim, or it will make the pay-out more expensive should you damage the bike beyond repair and force the insurer to replace it.
If you have a policy on your current bike and you make any modifications during the term of the policy, you must inform the insurer because failing to do so could invalidate your insurance.
Modified bike insurance premiums will often prove to be higher, but that’s better than finding you’re uninsured when it comes to making a claim.
Not all modifications will push up your premiums, in fact – some can actually make your insurance cheaper.
Anti-theft devices such as locks and immobilisers make it more difficult for thieves to steal your motorcycle, so the risk to the insurer is reduced and they should reward you with discounted modified bike insurance premiums.
Make sure the security modifications are insurer-approved and that you inform your insurer once they’re installed.
Shop around for cheap modified bike insurance quotes
As the cost of modified bike insurance is likely to be more expensive than standard bike cover, it pays to shop around to make sure you’re getting the best possible price.
You may already know, but motorbike insurance groups work differently to car insurance groups, as there aren’t any industry-wide standards. This means your bike could be classed as belonging to two different groups by two different insurers.
This makes it doubly important to make sure you shop around for you modified bike insurance quotes.
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