Kit cars are growing in popularity and whether you bought your kit car as a project, a hobby or pre built, and simply enjoy driving it, there are particular aspects that kit car owners need to have from an insurance policy.
When looking to insure a kit car, have a think about these issues before trying to obtain any quotes:
• Agreed valuations –many insurers will only pay out the ‘market value’ of your kit car if you suffer a total loss. With a kit car, market value is often difficult to determine. Make sure you get it valued by a specialist to avoid having it undervalued and getting a nasty surprise if you need to make a claim.
• Goods In Transit cover –to cover you collecting you kit car, parts and tools from the manufacturers.
• Multi-vehicle cover – if the kit car is not your main means of transport, think about arranging a multi vehicle policy.
• Build Up Cover – do you need or want to insure your car as it is being assembled just in case of any mishaps.
• Limited Mileage discounts – the fewer miles you drive, the more you can save so think about the annual mileage you think you will drive in the car. Cover usually starts from around 1,500 miles.
• Track Day / Rally cover – this is a little more specialised and usually quoted on application.
• Owner’s Club Discounts – join a recognised owners club or enthusiasts’ forum and you could receive a discount of up to 15%, depending on the policy taken from some insurers.
Due to the type of vehicles, make sure you select experienced, specialist insurance providers when obtaining quotes.
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