Used cars with modifications might be harder to insure

Having a tricked-out car with 20 inch rims and expensive audio equipment attracts attention, but according to many insurance companies it’s the wrong kind of attention, making it less likely to get coverage.

According to, because the equipment in many of these used cars is worth more than the purchase price of the vehicle and because owners of these cars are often thought to drive recklessly, even if they can get insurance it’s going to cost quite a bit of money.

As an example, the company uses a 1993 Toyota Supra, which was purchased for $7,000. After adding a 600 horsepower engine, custom paint job, $30,000 in stereo components and other various modifications it’s likely the total price can be somewhere near $130,000.

“Your estimated annual premium would be $2,000 to $2,500,” says the company. “and that’s assuming you have a clean driving record.”

That’s also assuming you can get coverage at all. Jim Kreisman, owner of Insurance Agency Inc., says he’s probably not going to insure a car like that.

“We’ll insure Ferraris and Bentleys, but souped-up cars? We won’t [insure] them. They are too high risk,” he says.

Find New York Used Cars with New Jersey State Auto.