Top 10 Insurance Myths Explored

Modified cars are harder to insure:

This falls under a grey area.

“Depending upon the modifications made, you may not be able to obtain coverage from anywhere but a high risk market,” said Thomas.

Some insurance companies won’t even consider insuring a modified car. However, Hagerty and other specialized insurance companies will often still cover the vehicle. Hagerty is known for insuring classics and collector cars, but they also insure modified cars.

You can also hire an insurance broker, who will help shop around to find the perfect insurance for your needs. Often they can find a smaller insurance company that will provide the coverage you need.

On the other hand, Esurance has a policy that covers up to $4,000 in customized parts and equipment. While that may not be enough for a custom paint job or forced-induction setup, it could cover audio upgrades or maybe custom wheels.