Well alloy wheels put my quote up on my Mondeo and if I remember rightly, so too did stating my Disco had an LPG conversion, but that's probably because it adds to the value of the vehicle? Or the replacement cost at least...
It is a complex mix of factors but you are right, your alloy wheels may affect your premium because:
- Alloy wheels will increase the value of the vehicle meaning a higher payout in a total loss situation, also in smaller claims you are much more likely to damage 22" rims with rubber-band tyres than you are standard steelies driving through a pothole or some such.
- Alloy wheels and other modifications increase your vehicles attractiveness to thieves meaning that you are at a higher risk of getting the vehicle stolen (and insurance is all based on risk as a primary factor
- People who modify cars are statistically more likely to make a claim, this is probably skewed due to teenagers who nail £5000 worth of fibreglass bodykit to a £300 hatchback - the technical term for this would be being a Moral Hazard (as opposed to a Physical Hazard, like parking your car next to a volcano).
The attitude shown here by Barmatt and some others in this thread is bang on, if you have changed or modified your vehicle in
any way no matter how small or inconsequential (even if your mate down the pub says it is totally fine) you should always tell your insurance company.
Why wouldn't you? These "Should I tell my insurance company?" questions boil down to people being scared (possibly quite rightly) that their insurance premiums will increase if they tell their insurer about something because lets face it, how much extra effort is it to tell them about it?
If you have a modified vehicle without your insurer knowing about it what is the point of paying your insurance at all? You know full well it is in the terms and conditions that they can void your policy if they find out about undisclosed modifications so you would never be able to make a claim anyway.
You come to your insurer and propose that they share the risk in insuring the vehicle, you present them with a certain risk in return they calculate how much your premium should be in return for taking on that risk. If you are being dishonest in presenting that risk then that is insurance fraud plain and simple.
If you are caught then not only will you not get your premiums back but you will have the policy voided and will have to tell all future insurers this - and believe me if you have had a policy voided you will know what a high premium looks like!
I realise this is probably an unpopular opinion to subscribe to around here but if you're caught then those are the risks you take in the perilous world of insurance fraud
