What to look for when choosing component car insurance
If you are building your car bit by bit then you need specialist insurance. This would be by way of component car insurance otherwise known as kit car cover. A component car is one of a kind, you will be able to customise the car to suit your lifestyle which means that normal car insurance would not be adequate enough and you could stand to lose an enormous amount of money if the worst case scenario occurred and you lost your car.
One of the features you should look out for and consider essential when looking into taking out component car insurance is agreed values. If you have agreed values in your policy you would have your vehicle valued and this would be the amount you would get back if you were your car should be written off or stolen. Having agreed values would mean you would not lose out as each car is treated as an individual. Of course the more parts you add onto the car then you would have to have your car re-valued so that you could be sure you would not lose out.
You could also check the small print and features of any policy you were considering paying out to ensure that the policy included salvage retention rights. This means that should your vehicle be written off you would be able to reclaim any expensive parts that were undamaged. However it would be down to the insurance provider as to whether you would be able to claim back any parts. If the car was seen to be too badly damaged then you would have to give up these rights.
When looking for component car insurance you would want to ensure that your car was covered from top to bottom. You want insurance that would protect the components of your car from the moment you order them to them being delivered to your home. The parts should be covered while in storage as should the frame of the car be protected while it is being put together. If parts were to be damaged, lost or stolen whilst in transit they should also be covered by the policy.
If you plan on using your kit car for showing then you would have to check to find out if the policy you were considering covered liability cover. When attending and taking part in shows and rallies the organisers would insist that you have liability cover. This is to ensure that if any of the patrons attending the show or rally should be injured by your car they would be able to claim on your insurance.
Component car insurance for shows and rallies should also work in your favour by providing cover if the event that your car was accidentally damaged while at the show of if it were to get stolen. Of course all the usual forms of cover should be found in the policy such as windscreen damage and having recovery cover to ensure you got to where you were going or where brought home in the event of a breakdown.
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