What is Kit car insurance?
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The question “what is Kit car insurance?” is easily answered. It is a special type of car insurance that can be taken out by individuals who are building up a specialist car from kit form, therefore the name, Kit car. As the car is a specialised model and not one that falls into any category, you have to ensure that you have the correct level and type of insurance that would protect the car in all situations. A Kit car takes time to build up, it is not a model that you walk into the showroom, choose and then drive out in. Therefore you need to ensure that the Kit car would be covered from the very first part that you order and receive.
When asking “what is Kit car insurance?” you have to be aware that not all insurance companies will offer specialist insurance. As Kit car insurance is so different from the regular insurance offered by insurance companies you cannot take out standard insurance. Some of the parts of the insurance policy would be similar to those in Kit car insurance but then there are also many specialist parts.
A Kit car can be anything from a basic model to the most extravagant and if you are adding many expensive accessories and parts to the car then you need to be covered. Therefore when considering taking out Kit car insurance you would have to check to see if the car was covered by an agreed value. Here you would state what the actual car was worth and if it should need replacing, what is the maximum sum insured (which is the ceiling amount that would be payable by the insurance company to you).
You can however choose the level of cover that is taken out to protect your Kit car. You are able to choose from third party only, third party fire and theft and fully comprehensive. Fully comprehensive is of course the most complete form of Kit car insurance.
So what is fully comprehensive Kit car insurance? This would provide all the benefits that regular fully comprehensive would usually give car owners such as breakdown cover and paying for damages to your car and the third parties. It would also provide payout in the event of death to either yourself or spouse if in the car with you. More importantly it would provide you with insurance in the case of accident up to the agreed value if the car was written off.
Just as important is salvage retention, if you have spent a lot of money on collecting the parts of the car. If the car is damaged and the insurance company believes that it is a write-off, if you have salvage retention in the policy, then in most cases you can buy back the wreckage. This would allow you to take off the parts that were salvageable and use them when making a start at putting together a new Kit car. In some cases the law may state that the car is beyond being salvaged and in this case you would not be allowed to buy it back.
Hopefully the information above will have given you an insight into the question “what is Kit car insurance?” By going with a specialist Kit car insurance company you will be able to get more information and advice on insuring your Kit car and get the best deal possible on your policy.
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