Effect on Insurance & resell value

[AndyJM]

This is a bit of bland one but has kept me wondering... I'm planning on some additions to my A3 (rims, spoiler, lowered) and was curious whether this had any effect on insurance prices, or if you even need to let them know.

Realise I sound like a complete square but thought it was worth asking around.

And regarding an eventual sale, I suppose additions can only enhance value, while appealing to a slightly more niche market perhaps?

 

[S3Alex]

You need to inform your insurance company about pretty much anything that isn't standard,or they will invariably try to wriggle out of covering you.

Most simple mods,especially cosmetic,won't add much if anything to the costs,but lets say you fit a set of nice alloys and don't tell the company,and they then get damaged in an accident.
As you didn't inform them,they almost certainly won't be covered.

Additions virtually NEVER add value to a car.....if you want them,fit them and enjoy them,but don't ever see them as a sort of investment in future value.

 

[AndyJM]

Thanks for the info, that's what I thought! Insurance companies would jump at the chance to charge extra.

Like you say anything I added would be for personal enjoyment, cars in general are the exact opposite of an investment I suppose!

 

[S3Alex]

True.....so few actually make money!

As opposed to insurance companies that is....

 

[Yega]

If you mod the car you can only pretty much sell it for what its worth within the modding circles. When I did the Golf I sold it to a friend of mine who knew its value and all the work that I've had done to it.

 

[enc]

Pretty much only do bolt on mods these days and keep original parts do I can return it to standard when selling it. Tasteful oem mods are the exception.

 

[shadow1993]

As alex has said, you have to tell insurance companies and you will never add value to the car.

However, i told Direct line about my £1000 audio install & window tints. Insurance cost stayed the same as their policy covers up to £1000 for audio equipment as standard and window tints weren't performance enhancing so that didn't change the cost.

 

[DAN@ADRIAN FLUX]

Hi,
If you need any help with modified car insurance then please feel free to drop me a line.
Regards,
Dan.