What Is Kit Car Insurance And What Does It Cover?
When you’ve spent so much time, energy and money building your Kit Car, you need to make sure you’ve got an insurance policy that covers everything you require, whether that be agreed valuation, salvage retention, limited mileage, build up cover or even vehicle modifications. As your vehicle isn’t standard, then the insurance required to cover it isn’t either.
Kit Car Insurance Explained
Kit cars are not like normal cars, and as such require specialist insurance cover to protect them. Kit car policies can cover all the usual risks associated with a car such as being stolen, fire and damage as a result of being involved in a road accident, however they can also include features relevant only for kit cars including build up cover, which protects your kit car as soon as the parts arrive which means that if your car or any parts were lost or stolen before you had finished fully assembling it, then you would be able to make a claim on your policy.
Some kit car insurers also offer protection for parts that are damaged or lost in transit which could be very useful as these parts can be very expensive. Policies can also usually include 'agreed value' cover, so if the kit car is written off or stolen you would be paid out the agreed valuation, rather than just the market value amount as you would on a standard car insurance policy. This could be important because it is difficult to put a price on a kit car, especially if it has also had modifications added to it. Kit cars also do not always depreciate in value over time, instead sometimes increasing in value, and so by taking out agreed value cover, you get the reassurance that you will be paid the full value of the vehicle in the event that you need to make a claim.
Kit Car policies can also come with salvage retention cover meaning that if the worst should happen and your kit car is written off, then you can salvage the parts, which could be useful if they were expensive. Salvage retention cover allows you to buy back the vehicle wreckage and use any salvageable parts to build a new kit car, subject to the wreckage not being damaged beyond the levels where it could become a safety hazard and no roadworthy. There are also other add-on features you can include such as breakdown cover, legal expenses, overseas use, tack day, rally or exhibition use.
So what type of cover is available for kit car owners?
- Kit Car Insurance
- Modified Kit Car Cover
- Agreed Valuation Cover
- Build Up Cover
- Salvage Retention Cover
- Limited Mileage Cover
- Track Day Cover
- Exhibition Cover
- Show & Rally Cover
- Club Member Discounts
- Breakdown Cover
- Legal Expenses
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