The insurance industry reveals what it thinks of the mods you’ve made to your MX-5
From a few little tweaks to personalise your MX-5, through to an ‘upgrade all areas’ project, you really should inform your insurer. Here’s a look at how different modifications can affect your car insurance premium
Yes, there are plenty of purists out there who prefer their MX-5 to remain exactly how it was when it first left the showroom, but to lots of others their car is a blank canvas for expressing a little of their own personality. Some new alloys here, a sports exhaust there: it’s fun to dabble.
Whatever you do to your pride and joy, though, you ought to inform your insurer. Your modifications will affect your premium, predictably in an upwards direction. And different mods will have a different impact on the price you pay for your insurance.
To get a steer on how insurers view certain modifications, we’ve spoken to Lancaster Insurance, for the past four years the official insurance partner to the MX-5 Owners Club, and a specialist classic car insurer for more than 30 years.we’ve asked the team there to look at individual mods and explain why they have a bearing on what you pay.
Before getting into the details, though, the guys at Lancaster have a few general observations about insuring your modified Mazda. A spokesperson for the specialist classic car insurance team says:‘we’d always encourage enthusiasts to speak to us directly, so we can assess the case on an individual basis.
‘We have a team of experienced in-house agents who can help arrange the right policy for you, taking your circumstances and your vehicle into consideration and assessing the risk.’
This personalisation of the insurance policy means that Lancaster is unable to provide us with exact figures for premiums or even percentage increases in premium for individual modifications, but the company’s answers should give you a steer as to what various changes to the hardware and visuals of your MX-5 might mean to your insurance cost.