Do I need Kit car insurance?
If you are building your own Kit car piece by piece and continually adding parts then you do not need to ask: “do I need Kit car insurance?” The answer is undoubtedly “yes”. Kit car insurance is a specialist insurance policy that is taken out to insure your Kit car on the road. All vehicles have to be insured to be driven on the road; they protect you, your car and the damage to the third party. Kit car insurance should have all the basics that come with normal car insurance with extras included.
You will need Do I need Kit car insurance? and the best place to find it is with a specialist who offers Kit car policies as they will be able to tailor your policy to your needs. As you are putting together a car that is unlike any other and which is tailored to your specific requirements, you will need to take out insurance to cover what your car is worth in value.
You should always give some thought to how you would replace your car if it was destroyed not only on the road but during the building process. Building a Kit car does not happen overnight and the whole process can take many months if not years to get it how you want it. Therefore asking yourself the question “do I need Kit car insurance?” from taking on the project and ordering the first parts is essential. If you have several parts in storage and have started building and they should get stolen or damaged then you would be able to claim on the policy. Not having coverage would mean you would lose the money you spent so far, along with having to start again from scratch.
Once your car was built and on the road then you would need to be able to claim back exactly what the car was worth if it should be a written-off or if it was stolen. Therefore when considering Kit car insurance you need to check to see if you have agreed values. By setting an agreed value when taking on your insurance you will be guaranteed that sum of money. As Kit cars are improved and added to over time, you need to keep an eye on the amount of insurance you have set.
When asking yourself “do I need Kit car insurance?” you will have to give some thought to when you are going to be using your car. If you plan on building a Kit car that is to be used for showing and are not going to be taking it out on the road everyday, then it could be worthwhile ensuring that you have low mileage discounts. By having low mileage discounts you set the amount of mileage you do not intend going over and then pay lower premiums. Some insurance companies offering Kit car insurance will also give you a discount on your car insurance if you belong to a specialist motoring club that is recognised by them. This is worth looking into if you want to get the cheapest deal and adequate cover on your beloved Kit car.