Kit car insurance
For a genuinely unique set of wheels, kit cars are just the ticket – allowing you to choose a model that suits your style and personality, and build it exactly to your specification. From classic replicas to sporty numbers, there is a wide choice of kits on the market if you're looking for a self-build challenge.
As the car builder, you will buy a kit containing all the essential panels and mechanical parts along with a guide explaining how to assemble it all. For all the little extras, however, you're on your own – and because each kit car builder sources bits from different suppliers, and builds their car to their own unique specification, this makes it difficult for insurance companies to assess the car and set a premium. A vehicle manufactured in a factory according to manufacturer's standards is far easier to assess in terms of value and risks.
Choosing a kit car
Before you decide on your dream kit car, look into insurance options for each kit and make sure you're going to be able to find the right level of cover at a price you can afford. The manufacturer and other owners of the kit car may be able to point you in the right direction.
Types of kit car insurance
When you're searching for the right kind of insurance you will need to have a good idea of how you plan to use your kit car.
While you're building you car, you might be interested in 'Goods in Transit' cover to protect parts and tools while they're being delivered. During assembly, expensive parts may be left in your garage or workshop for lengthy periods, so 'Kit car build up cover' is essential just in case of a break-in or fire.
Once your car is ready to go on the road, you will need a proper car insurance policy. If your kit car is your hobby and you plan to use it only occasionally, it might make financial sense to take out temporary insurance to cover you just for these times. If you're using it every day as your main vehicle, on the other hand, you will need to find a proper 12-month policy. Because kit cars are difficult to place a value on (in comparison with cars straight off the production line), many insurers will only pay out the supposed 'market value' of the kit car if you write it off. To be certain of exactly how much you would receive, opt for 'Agreed valuations cover', whereby you negotiate the car's value up front, guaranteeing that the amount you paid for it does not depreciate in the event of a claim.
If you have ambitions to whip it around a race track at weekends, you'll need 'Track day cover', and if you plan to use your kit car for a special occasion such as a wedding you might want to ask your insurer about 'formal occasion cover'.
Remember that finding breakdown cover for a kit car might prove more tricky than it would for a production line car, so you could look into adding it your main kit car insurance policy.