Looking for Kit Car Insurance?
By definition kit cars are unique and do not conform to one of the 50 insurance groups used to rate standard vehicles.
Given the time and effort invested into kit cars, ideally you require an agreed value policy if you are looking for anything more than market value in the event of a claim. This is a quick guide to the highs and lows of insuring a kit cars and what to look out for.
More to insuring kit cars than meets the eye
Kit cars are an investment, a serious project, a labour of love (and we mean labour), always a learning journey and a real achievement. They require logic, knowledge, attention to detail and very often an ability to think around corners that not everybody possesses.
Whether you’re thinking of embarking on your first kit car build, you’re years into a project or you’re starting a fresh construction with years of experience under your belt, you’ll appreciate that there’s more to kit car insurance than simply insuring your finished roadworthy vehicle. You may also need:
Covers your kit car, parts and tools during collection from the manufacturer.
Insurance for your kit car and parts during construction.
For when your kit car is up, running and road worthy.
What your kit car insurer needs to know
When in it comes to kit cars and kit car insurance, the devil is in the detail. Make sure you tell possible insurers everything, as sometimes the slightest thing can affect your premium. Specifically, underwriters will want to know details of your:
Ways to reduce kit car insurance
Regardless of whether you have built your car from scratch, rebuilt or customised a classic kit car, reconstructed a vintage vehicle or bought a kit car you’ve fallen in love with, there are certain factors that influence replica or kit car insurance costs. These include:
Could you qualify for a reduced mileage policy?
Is your kit car solely used for leisure? Or do you race, attend rallies, track-days or off-road?
Insurers look favourably on this as it shows a likelihood to take care and pride in your vehicle.
Preferably in a locked and secure garage as this significantly reduces risk of theft or damage.
As with any insurance policy, older, careful drivers are cheaper to insure.
How difficult is your kit car to break into? Consider installing an immobiliser, alarm or tracking system and be sure to tell your insurer of any locks or security features included.
Kit car insurance and multi-vehicle policies
There is an assumption that kit car insurance can be cheaper than standard insurance, although this is usually down to kit cars being included on multi-car policies as second vehicles. Kit car policies specifically designed for second car use can be a great way to insure kit cars, although this does mean that you have to own and insure another car.
Kit Car Insurance – Useful FAQs
If you’re dealing with an insurer who understands kit cars, chances are they understand modifications and won’t get hung up on them like standard insurers do. The important thing is to declare details of all modifications as failure to do so could invalidate your policy.
It is typically difficult to determine the market value of a kit car. Ideally you need an insurer to agree cover for the vehicle’s true value, rather than only pay out market value in the event your kit car is written off. This makes it especially important to detail any modifications you make and where possible keep detailed records and receipts.
Yes, it can make a difference. Underwriters have been known to look favourably on self-built kit cars because of the labour of love that has gone into them. Statistically this can equate to a lower risk, the thinking being that you will take extra care of a vehicle you have shed blood, sweat and tears over.
Part of the glory of kit cars is that no two are the same. They come in all shapes, sizes and specifications and so it’s impossible to determine a precise ‘type’ for insurance purposes.
Yes. Some insurers will offer temporary cover which is ideal if your kit car is only intended for seasonal use. Alternatively, you could also ask about weekend cover.