Tailor your insurance with Kit car insurance
Your Kit car will be your pride and joy and it will be a one of its kind if you have tailored the car to your exact requirements. A kit car can be as simple or as elaborate as you want, as you are able to add whatever you desire onto your car. As such while you can tailor your car you should also tailor your insurance and this is where Kit car insurance comes in. This type of insurance is very different to the standard types of insurance you would usually take out although it can provide you with some of the same features of the standard car insurance.
One of the main features to look for when taking out Kit car insurance is agreed values. If the policy pays out agreed values this means you would not lose out as if in the worst case scenario your car was stolen or if it was written off by the insurance provider you would the money you had covered the car for. You would have to have your car valued in the first instance and this would be the agreed values sum. The agreed values would take into account for instance if you had totally customised your car with many valuable parts. One thing to take into account is that if you insure your car for an agreed value and then add on more parts you could lose out unless you had the car re-valued.
When looking into taking out your insurance you could also check for parts insurance. Your kit car parts should be insured from them leaving the factory to you receiving them. They should be protected against loss and damage whilst in transportation and should also be insured whilst stored under lock and key in your garage. In your garage the parts should be covered against loss due to fire, theft and vandalism at least. The kit car should of course also be protected under the policy during building.
Check out what protection the policy you are considering offers if you show your car or take part in rallies. You would need to ensure that accidental damage was included if you are taking your car and putting it on show. If you only take your car out a few times per year then you could consider limited mileage insurance. This can help to keep down the cost of the insurance. You would choose a limited amount of miles that you would not drive the car over and providing you stick with this you would be eligible to claim.
Also check your Kit car insurance to ensure that the policy includes salvage retention rights. If your car should be written off by the insurance provider you would then be able to claim back any expensive parts of the car that were undamaged to use again. However the severity of damage to the car at the time of it being written off would go towards determining if you would have this right. If the car was seen to be too badly damaged then the insurance provider can stop you from claiming salvage retention rights.
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