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Tell then. The reason you buy insurance is so they will pay up when/ if you crash.
By not telling them of the mods your insurance in invalid so you have thrown away the money you paid the company for a piece of paper that is invalid.
Have you tried another insuracne company Liverpool Victoria let you do unlimited mods I belive for free as long as the cars CC doesnt change and you tell them about it.
I would tell my insuracne company about any mods to my car. It may seen stupid you might say telling them about a chip as I could remove in the case of most crashes but since my last crash cost £3k o fix I couldnt afford to pay to fix it if the insurance company didnt pay up.
Aso if the insurance company dont pay up they could tell the police that you were driving round uninsured which leads you into bigger problems.