I don't think any insurance company would cover a car with modified custom steering
Has anyone looked at a dollar value replacement policy for modifications? On that note if you buy an aftermarket part, get it included in your policy, how could an insurance company deny coverage? Also, I wonder if there is any Magnusson-Moss type insurance bill / law (instead of warranty coverage on aftermarket parts, insurance coverage for aftermarket parts)...I get calling your agent and asking about mods and coverage, however, unless I see something in writing a verbal is a no go either way, pro or con.
This topic like almost all others has been discussed a lot with very little definitive resolution. Perhaps @Booger weldz could provide a break down of the insurance return after everything is settled. It's definitely personal info (finances etc.) so understood in advance if the insurance debrief doesn't happen.

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