Are you considering parts only Kit car insurance
As you will take a great deal of pride in choosing the parts and building your Kit car then you might not want just anyone repairing your car if the worst comes to the worst and your car is damaged. In this case you might give some consideration to taking out parts only Kit car insurance. This type of insurance is specifically designed to provide cover for the Kit car owner while at the same time ensuring that no one else but the owner would be able to repair the car. A discount is given which is around 30% and the policy would pay out for the cost of parts, if a claim should be made. However the discount reflects that there is no labour to pay as you will be repairing your car yourself.
For those who have built their Kit car up from scratch from day one to completion this is an excellent way to ensure that you would have control of replacing and repairing your car back to its former glory. Of course parts only Kit car insurance is a great deal cheaper in premiums. One of the highest costs usually when repairing any car is the charges that are added on for labour. Often they can be higher than some of the parts that are being replaced and so you are faced with a win-win situation. You save money and you can install your parts after the policy pays out for them.
There are many aspects you should take into account when considering insuring your Kit car. Usually if you are a member of a club you could make some great savings when applying for your car insurance. If you take out a policy with an insurance provider that offers savings for those who are a member and you want parts only Kit car insurance so you can repair your own car then some providers offers you a policy that also contains a parts only extension.
When looking into taking out your policy and you have added many expensive parts to the car then you could look into whether or not the provider offered you salvage rights. This means that if your Kit car was damaged beyond repair you would be able to salvage undamaged expensive parts to use again. You should also check to find out if you could insure for agreed values. If you can then you would have your car valued and this would be the amount of money that you would be guaranteed to get from the insurance company in the event the worst case scenario were to happen and your car was destroyed beyond repair or it was stolen. Also check for legal expenses and liability in any policy you are thinking of taking out and always read the terms and small print.