How Do Modifications To Your Bike Affect Your Bike Insurance Policy?

In today’s times, modifying a bike is easy and not very heavy on the pockets too. There was a time when a handful of people offered bike modifications. However, with better infrastructure and technological tools, many local garages have also started offering bike modifications at reasonable rates. While some bike owners modify their two-wheelers for performance or looks, they usually tend to forget the fact that these modifications can impact the premium of their bike insurance policy. Today, we will look at different types of bike modifications and how they impact your bike insurance policy premium.

Performance-related modifications

Many bikers want to extract more juice from their machines. Hence, they modify their bikes to include a speed-boosting mechanism or a fuel-efficient system. Faster bikes mean a higher probability of a road accident. If you make frequent claims and the insurer finds such performance-boosting modifications on your bike, then he might increase the premium to accommodate the additional risk factor.

Visual modifications

Some bike owners love to work on the way their bike looks and change its colour or enhance it visually to boost its aesthetic value. However, a bike that looks attractive also becomes a bigger target for thieves. Hence, the chances of theft increase. The market value of the bike increases too. This leads to the insurer charging a higher premium for the insurance policy.

Security modifications

Apart from damages or losses due to accidents, collisions, and natural & man-made disasters, a bike insurance policy protects you against the theft of your vehicle too. Hence, if you install an anti-theft device, the insurer will see it positively and offer a discount on the premium amount. Additionally, some insurers also offer discounts if you have a covered and protected parking space for your two-wheeler. There are various modifications available that help you boost the security of your bike. These modifications work in your favour during the computation of premium.

Modifications for a differently-abled person

In cases where the bike is modified by a differently-abled person to ensure that he/she can ride it comfortably, the insurer does not increase the premium. On the contrary, many insurers offer a discount for such riders to encourage them to move around independently. It is important to explain the nature of the disability and the purpose of the modification to the insurer clearly at the time of buying the policy.

Utility-based additional fittings

It is amazing to see the number of options available to bike owners for modifying their two-wheelers. While some utility-based fittings like a luggage carrier can lead to an increase in the premium rate, changing the wheels, suspension, or tank pads have a minimal impact on the premium. Also, many insurers accept modifications like upgrading the braking system, increasing the engine capacity by up to five per cent, installing crash bars, etc. without increasing the premium.

Before you modify your bike…

  • While we understand the excitement of a bike lover to modify the two-wheeler to create a machine of his/her dreams, it is important to ensure that the modifications are compliant with the prevalent laws. Post-modification, you should be able to legally ride the bike on public roads.
  • Before getting into a modification, it is prudent to call your insurer, inform them about your plan, and check if there will be an increase in the premium rate. This can vary from one provider to another. Hence, asking beforehand is recommended.
  • If you fail to inform your insurer, then in the unfortunate event of damage or loss to the said part, the insurer can reject your claim.
  • In fact, some insurers can reject your entire claim in the event of accidental damage if you fail to inform them of any modification to the bike.

Summing Up

We have seen that bike owners are usually more passionate about their rides than car-owners. They also tend to make minor modifications to the bike for utility or aesthetics. However, it is essential to know about bike insurance to get the best deal for your bike. It is important to remember that the insurer offers protection to the bike based on its condition when you insure it. Hence, any change can positively or negatively impact the premium. Therefore, you must inform your insurer of any modification, big or small, to stay protected at all times.

When you buy a new vehicle and have already decided about the modifications that you plan to implement, you can start looking for an insurer that offers the best premium rate for such modifications. Remember, every insurer can look at the same modification differently. Hence, it is essential to research your options, compare policies, and find the one best suited to your needs. We know that you love your bike. Express it by purchasing the perfect insurance policy to cover any damages or losses. Good Luck!