Too many motorcycle owners are failing to tell their insurers about modifications to their motorcycles either because they fear the changes will increase their insurance premiums, or because they don’t realise they need to. However, following a recent review, we can reveal that many of the most common modifications actually have little or no effect on premiums at all.
This contrasts with failing to tell an insurer about modifications which could result in the insurer refusing to pay when a claim is made - particularly if the modification is a factor in the claim. Many of Britain’s bikers’ favourite modifications have virtually no impact on insurance premiums. These include modifications such as crash bars, crash mushrooms, road legal after-market exhausts, huggers, up-rated braking systems and a five per cent increase in engine capacity.
Other modifications including wheels, suspension, Dynojet and tank pads may also be accepted by insurers and would result in only a moderate premium increase.
Modifications that are likely to be expensive to insure are: increasing engine capacity over five per cent, custom motorcycles and nitrous oxide injection.
Commenting on the review, Devitt’s Managing Director William Hughes said: “One of the most important principles underlying any kind of insurance is that all relevant information must be passed on to the insurance company. That’s the only way an insurer can understand precisely what risks they’re covering and calculate a fair price."
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