[Yaw]

Insurance for young people with Modified cars is always going to be an expensive venture.
I hear you and everyone else say 'I have never had an accidents, I have never had any claims..etc'

OK I understand your thinking and feel an empathy towards you but the insurance company perspective never gets looked at and quite often the person on the phone you speak to cann not fully explain why this is so. It is not to "rip you off". Quite often the person on the phone just does not understand themselves.

I work in insurance. I have done Sales and Service, and Motor Claims and a few other roles.

The facts that often get overlooked.
To insure young drivers without modified cars the statistics do show that there is a very large percentage of Premium paid by young drivers to Claims paid due to the fault of young drivers.
To understand this another way it is not uncommon for the amount of premium paid in a finacial year to an insurer by the younger age groups, if you look at what the insurer has had to pay out on claims for people in that age group is usually at LEAST 85 cents in the dollar. So looking at it in that way you see a 15% of premium that needs to pay all the administraion cost of having these customers and staffing, to be left with not much of an actual profit.

A bit of a lesson on how insurance works is you pay into a pool of money of people to expand your liabilty across a lot of people. That is not to say they will all claim but you need to look at the average cost of claim per person that does claim and then make pricing descions based around that.

Sometime there may be certain risks that the insurer wants to exclude but by its guidelines it cannot, so they then price themselves out of the market so those risks go elsewhere.

Now when you look at specialist insurers such as Shannons, Just Cars, Young and Cool etc. You need to remember the pool of people paying premiums there are quite possibly in the same boat as you, young with a modified car.
Automatically you can see the average cost of repair rise hence a higher premium to pay.

Now the argument about what is done to the car, 'Its only lowered, Its only got extractors etc etc etc. The insurance company does not care at all if this makes the car less safe for you. The car needs to be legal to be insured for road registered which i think speaks for itself. What is the difference with Modified cars is having to source non genuine parts or modifications that are not readily available. Body Kits for 1 thing, So many different brands and manufacturers that go out of production can be a nightmare to be able to give a repaired car back as it was prior to the accident. As for suspension parts, if they are modified you cannot just get a part from super cheap or fulcrum that is standard. These are things that make fixing a modified car more expensive and harder to fix which is what increases the risk and premium.

Hopefully you get a better understanding now, I am sorry it won't help you get a cheaper price. If you want a cheaper price get a job at an insurer and get Staff discount. I get 50% staff discount on my policy I think I paid around $270 last september for comprehensive on my 2007 TX Territory.