IT has become increasingly popular to enhance vehicles with accessories and gadgets that dramatically enhance the speed, look or driving experience of that vehicle.
However, car owners should ensure they are aware of the implications these enhancements can have on their car insurance, as they have the potential to either reduce or inflate the monthly premium.
This is according to Helen Szemerei, chief executive officer of IntegriSure, who says fitting certain extras, such as alarm systems, tracking systems and anti-hijacking systems, can reduce the monthly car insurance premium because they lower the insured’s risk profile.
“It’s therefore very important to declare these additions to your insurer in order to enjoy the benefits of lowered premiums,” she says.
On the other hand, Szemerei warns that, although it is tempting when ordering a new car to include all the latest gadgets, it is important to remember that some items are expensive to replace and could lead to an increased insurance premium.
Furthermore, Szemerei says, because many added extras on a vehicle have a long lifespan, and the motor insurance policy is generally based on the current value of the car, it is advisable to cover valuable extras separately “because, in the event of a claim, these values will not depreciate and will be covered in full”.
These extras could include rims, tinted windows and sound systems. -Mercury Motoring