Bike enthusiast treat their bikes no less than a dear child of theirs. With countless possibilities available for customisation of bikes, it is a whole another world for these aficionados. There are different types of modifications that can be performed which range from performance modifications, to visual modification to even security modifications where sky is the limit. However, not all modifications are legal. Different rules apply as to what is considered legal and what isn’t. You need to know that before beginning. Similarly, these modifications have an impact on your insurance policy too. You need to understand how the different modifications to your bike impact the cost of your coverage.
Impact of performance-based modifications
Performance modifications are those that include altering the fuel supply, fuel efficiency, or speed-enhancing abilities and more for your bike. This may result in more chances of accidents and mishaps. Higher speed implies a higher risk that the insurer must undertake. Thus, it is something that will impact your policy when you purchase bike insurance online thereby resulting in steep premiums.
Impact of visual-based alterations
Any change to the appearance of your bike visually is termed as a visual modification. These changes not only make your bike stand out, but also increase the aesthetic value. With such prominent changes, vehicles are more prone to theft and other miscreants. Further, using a higher quality paint or wrap that increases your bikes visual appeal. These changes lead to increase in the risk that the insurer has to assume thereby increasing bike insurance price.
Impact of security-based changes
These are the changes which work in your favour by reducing the insurance premiums. Any changes that enhance your bike’s security helps to lower the chances of perils like theft damaging it. In support of these changes, some insurance companies reduce the premium in effect. However, you need to note these devices or changes need to be authorised by the automobile associations in the country.
What you should do when it comes to modifications?
Since modifications do impact the premium some negatively whereas some positively, you need to maintain a balance. If certain aesthetic improvements hamper the performance of the bike, it isn’t a smart move in the long run. On the other hand, maintaining such exquisite and rare vehicle can also be expensive.
Further, remember to inform the transport authorities about these changes. For instance, a change in the colour of your vehicle or tampering with the engine’s power output needs approval from the authorities. Once approved, make sure to report these changes to your insurer too. Not reporting these changes may result in dishonour of your claim.
Avoid making rash decisions of changing any specifics about your bike. A particular idea might excite you but may not be legal or even feasible considering your safety. Then, ensure any such thoughtful modifications are carried out by professionals having prior experience. Lastly, do not forget to check for the legality of the alternation since some of them are not allowed in specific regions. These attract not only penalties, but also punishments.
With these pointers in mind, ensure your insurer is updated at all times. A two wheeler insurance premium calculator is a nifty tool that can come to use to determine the impact of these modification on your premium. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.
