Kit car insurance - an Introduction
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If you, like many others, want a specialist car then you could choose to build your very own car by way of a Kit car. Of course, as your car is unlike any other you will need to choose your Kit car insurance very carefully. If you go for regular car insurance then you could find that you are under insured if you should totally have to re-build your car. There are many online companies who offer car insurance specifically tailored to owners of Kit cars and this is where you could look to get advice and take out your policy.
Another aspect you have to consider is if the insurance would cover your Kit car during the building process. If you were to get half way through building up the car and it was to get damaged or stolen you would need to start over. Some insurance companies offer protection for parts that are being shipped to you, so if something goes amiss and the parts are damaged or go missing then you are able to claim for them.
Therefore you have to insure your Kit car from the very beginning and throughout the whole process of building it up to actually getting in on the road. Insurance companies offering Kit car insurance should be able to offer tailor made insurance so that you can put together the policy that you need.
There are many different factors that need taking into account to cover your Kit car once it is on the road. While some features of insurance will pertain to all types of car, there are many that are specific for the Kit car. Of course you should look for 24 hour assistance; this means that if your car breaks down the company would be there to help you by recovering both you and your vehicle. You should check to see if the insurance company provides agreed values. This means that if you have made any major modifications to your Kit car or have added accessories that are costly, the car would be insured for what it is actually worth. With agreed values this is what you would get if you made a claim.
If you only plan on taking your Kit car out of the garage at certain times, say to take it to a show, then you could look for limited low mileage discounts on the insurance. This would mean that you would get cheaper premiums by setting an agreed maximum mileage when taking out the policy. This is a great way to get insurance but to keep down the costs.
If the worst should happen and your car was a write off and you wished to salvage parts, then you would need to check if you had salvage retention cover in your Kit car insurance policy. This would allow you to buy the wreckage of your car back in this event. However you have to bear in mind that in an extreme case where the car was deemed to be too badly damaged, then salvage of parts wouldn’t be possible by Law. With this in mind it is essential to read the terms and conditions through of any policy you are considering taking out before signing up for the cover.
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