Building your own car from scratch can be a passion project for many car enthusiasts. While components are generally provided by manufacturers in complete kits, it’s up to the buyer to assemble the pieces properly and even source any optional extras to create the finished product.
Insurance for a kit car isn’t just limited to cover when driving it around on the road. You may also require appropriate cover for different aspects of the construction process, which can massively increase your quote. The most essential insurance needed before the kit car is even built is to protect the individual components, which can be highly valuable even when deconstructed.
Build-up cover is one of the fundamental aspects of kit car insurance to make sure that not only are the parts insured, but you’re also covered for problems that may arise during construction. This can include tool cover to protect you from loss or damage to tools and equipment potentially leaving you out of pocket.
It’s also possible to include ‘goods in transit’ cover on your policy to protect the individual parts as they’re on the way to you. As such expensive pieces of kit, the last thing you’ll want is to pay in advance for parts that become damaged, lost or stolen while in transit.
Once a kit car has been examined and approved by the Vehicle and Operator Services Agency (VOSA), it should be ready to take to the road. This comes after a test to ensure that the car is safe and fit for purpose, while also meeting the required standards to operate on public roads.
To make sure this testing stage goes smoothly, it will be handy to document and provide evidence of the build by keeping receipts and taking photos of key stages during construction. It’s also important to remember that your kit car will require registration through filling out a “Built up vehicle inspection report” (V627/1 form) and a new vehicle registration (V55/4 form) to get a number plate.
Before you finally hit the road, you’ll need an appropriate car insurance policy that covers your non-standard build. This will consist of all the usual car insurance details like your driving history, location and expected annual mileage. In addition to all the usual information, you’ll need to provide details of the type of engine and the car’s body type.
As the car hasn’t necessarily been factory built, there are no guide values ‘by the book’ as it were, making it difficult for insurers to make a quick estimate. Depending on the type of policy you choose, we can base your quote on an agreed valuation, where we can assess your kit car and agree cover for its true value.
How you intend to use your kit car will be another major factor in deciding your insurance premium. While uncommon, it’s possible that you may want to use your kit car as you would any other car for everyday leisure and commuting, potentially covering thousands of miles per year.
Most kit cars, however, are built by hobbyists and car enthusiasts to be used for exhibitions, track days and rallies. This can have a significant effect on the level of insurance cover you can receive. Temporary cover and bolt-on policies can apply to specific activities and certain time periods, so you get the right insurance for the right purposes when needed.
Belonging to an owner’s club of other kit car building enthusiasts may even be able to help you to reduce your annual premium with an appropriate discount. Club members may be considered much less likely to be dangerous drivers, potentially earning them a discount depending on the policy taken.
With Arkwright, you can rely on our specialist knowledge when it comes to providing appropriate kit car insurance. For a tailored quote that matches your specific situation, get in touch with our team today.
Call us on 01204 392 525 to speak to an adviser and to discuss getting a unique and competitive insurance quote for your kit car.