Car insurance is all about risk, and modifications can sometimes increase the risk of an accident or theft.
Some car modifications are riskier than others, and your insurance company will likely have different opinions on what is and isn’t risky. Here are three car modifications that you should definitely inform them about:
Upgrading Your Engine Control Unit (ECU)
As anyone who has done it knows, upgrading your engine control unit (ECU) can be a great way to improve performance and fuel efficiency.…
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Standard homeowners’ coverage, which the insurance industry refers to as an HO-3 policy, might be inadequate for your old home. The inadequacy risk is especially high if the home still has most of its original materials. Thus, you should consider alternatives to the HO-3 policy or supplement the policy with add-ons. Below are some of the options available to you.
HO-8 Policy
An HO-8 policy targets properties whose replacement values exceed their market values, as is the usual case with older homes.…
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Your auto insurance rates will likely increase after an accident. The rate increase is not a punishment from insurance companies. Rather, post-accident rate increases reflect the changed circumstances and new risk determination. Below are factors determining the possibility and extent of a rate increase after an auto accident.
Accident Cause
Your auto insurance rates are sure to rise if you cause an accident. Even a single at-fault accident increases your rates.…
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