Top Ways To Save On Your Auto Insurance Premium
November 8, 2022

Tips For Lowering Your Car Insurance

  • Consider raising your deductible.
  • Keep up your good driving record.
  • Drive less to qualify for a low-mileage discount.
  • Drive a car with safety features such as anti-lock brakes and airbags.
  • Install an anti-theft device.
  • Ask about our multi-policy discounts.

The Basics

An automobile policy is designed to provide you with a level of protection against property, liability, and medical costs if you are involved in an accident. Optional custom parts and equipment coverage ensures that your customized details are covered too.

Customize Your Automobile Policy Too

If you’re one of those who enjoys getting more out of his or her car than just getting to your destination, you should be aware that any customizing that you do to your vehicle impacts your auto policy. Before you add custom paint and bodywork, it’s best that you customize your auto policy.

Custom Parts and Equipment Coverage

A basic auto policy’s collision or comprehensive policy provides insurance only for the original equipment included by the manufacturer. If your vehicle has special equipment or permanently installed custom parts that alter its appearance or performance, optional custom parts and equipment coverage may be for you. Special equipment includes the following:

  • Customized paint or decals
  • Customized wheels, spoilers, suspensions, or performance-related equipment
  • Stereo or television equipment
  • Running boards, roll bars, or brush bars
  • Undercarriage lighting
  • Bed liners, camper shells, and trailer hitches

Within the limits that you select in your policy, custom parts and equipment coverage reimburses you for the actual cash value, the declared value, or the actual cost to repair—whichever is lowest.

Keep in mind that every car has a standard book value which is used to calculate the payout in the event of a total loss. You should know that insurance payments reflect what a car would be worth at the time of the loss, not what was paid for it, so the cost for modifications may be difficult to recoup in the event of a total loss.

Riding around in style is enjoyable but carries additional risks. Before making any modifications, make sure the work you’re doing does not compromise the safety of your vehicle. If you’re in an accident, and the car is deemed unsafe due to non-factory reasons, your coverage may be void. Don’t be caught without coverage—check with us first!

The Bottom Line

Before you purchase those specialty rims or customize your grille, we can help you determine the best coverage options to keep your customized ride covered. Call Midwest Insurance Group, LLC today at 262.646.5777 to learn more about all of our insurance solutions for your auto, home, and life.

Midwest Insurance Group offers Wisconsin auto insurance coverage in the communities of BrookfieldJeffersonPewaukeeWatertownMukwonago, DelafieldWaukeshaMilwaukeeOconomowoc, and Hartland.

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