What to look for in kit car cover
A kit car is unlike any other; it will be made to your specifications from kit form and could include many parts that would boost up the value of the car. As such each kit car would be worth a different sum of money and so kit car cover would have to be tailored to your specific needs. There is no one policy that fits all and you would be wise to take out kit cover with a company who specialises in offering specialist insurance.
The standard insurance policy would not provide the cover you need for a car that is a one of its kind to your specifications. While some of the parts of a standard car insurance policy might be included in kit car cover, a policy would have difference factors too. One of them could be what is called agreed values. By insuring for an agreed value it would mean that you would sit down and work out the value of the car and the parts of the car and then choose this as your agreed values when insuring the car. This would mean that in the worst case scenario if your car should be damaged beyond repair or stolen then this would be the amount of money paid back to you.
While you would not want to give thought to losing your car due to any of these events it does have to be given some thought. The same would apply to considering if the kit car cover included salvage retention rights. This should be given consideration as if the car was to be written off you could be able to claim back and buy back the car. This would allow you to strip parts of value off the car to be used again. However the salvage rights could depend on the insurance company and if they deemed the car to be too badly damaged you would have to forfeit these rights.
Check any cover you are thinking of taking out to see if the parts of the car would be protected for a wide range of events. For instance the car should be insured from the moment you order the parts to the moment you take delivery of them and unpack them. They should be also insured whilst in storage under lock and key in your garage along with the car itself during the building process. Insurance should provide all the protection of a standard fully comprehensive policy which would of course include protection against such as fire, theft and recovery damage. If you show your car it should also include insurance for accidental damage whilst at a show.
If you only have your kit car for show and meetings then you could choose to take out insurance with limited mileage. This will help you to keep down the cost of the insurance providing that you do not go over the mileage limit per year. To keep down the cost of the insurance you could also choose to pay a higher excess on the kit car cover than the provider asks for.
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