FASTdan
|
| posted on 11/2/09 at 01:54 PM |
|
|
parts only insurance
Are there any hidden downsides to a 'parts only' insurance policy? With a saving of 30% it doesn't sound like a bad idea - given
that you've built it once, if you crash it you'd probably rebuild it yourself regardless?
|
NOTE:This user is registered as a LocostBuilders trader and may offer commercial services to other users
|
|
|
Mr Whippy
|
| posted on 11/2/09 at 02:03 PM |
|
|
Hmm assuming its not twisted like a banana…I only get fully comp for the kit cars, for all the difference. In the event of a crash you’ll actually
most likely end up quids in as if they write your car off, you buy it back for peanuts, get the full value of the car to buy a replacement, then fix
the old one and end up with two cars for very little extra money on the insurance.
Fame is when your old car is plastered all over the internet
|
|
|
coozer
|
| posted on 11/2/09 at 02:07 PM |
|
|
The advantage over parts only for comp is if you fix it yourself then they will pay you the labour to fix it.
1972 V8 Jago
1980 Z750
|
|
|
Mr Whippy
|
| posted on 11/2/09 at 02:31 PM |
|
|
quote:
Originally posted by coozer
The advantage over parts only for comp is if you fix it yourself then they will pay you the labour to fix it.
oh dear I only work for £200 an hour with plenty of tea breaks  could take some time this job...a few years at least 
Fame is when your old car is plastered all over the internet
|
|
|
phoenix70
|
| posted on 11/2/09 at 03:26 PM |
|
|
quote:
Originally posted by coozer
The advantage over parts only for comp is if you fix it yourself then they will pay you the labour to fix it.
Sorry, I'm pretty sure your wrong on this one, they will not pay any labour cost, just parts, and if you are fully comp, it has to be fixed by
a registered garage
I looked at parts only last renewal time, but to be honest the amount you save, on a fairly low policy anyway ain't worth it.
Cheers
Scott
[Edited on 11/2/09 by phoenix70]
|
|
|
FASTdan
|
| posted on 11/2/09 at 04:21 PM |
|
|
The way the company I spoke to explained it was they simply pay for the parts to fix the car - your labour comes for free, hence the saving.
|
NOTE:This user is registered as a LocostBuilders trader and may offer commercial services to other users
|
2GETHER INS
|
| posted on 29/3/09 at 08:54 AM |
|
|
Parts Only Cover explained
Parts Only cover is exactly that. The Insurer in event of a claim will pay for all replacement parts, not labour.
It doesnt suit everyone however for a lot of self bit kits the owners doesnt want anyone else to touch it anyway!
It is down to individuals, there is between a 25 and 35% discount for this cover.
2Gether Insurance just advise and ask the clients their requirements we dont push any clients in any particular direction it is a choice that you have
to make.
You need to consider:
(a) Would you let anybody else rebuild/Repair your Kit
(b) Could they do it to the standard that you require
(c)Have you the time to do it if a full rebuild is required
Hope this has helped for anymore info call us on 01945 465508
|
NOTE:This user is registered as a LocostBuilders trader and may offer commercial services to other users
|
omega 24 v6
|
| posted on 29/3/09 at 11:13 AM |
|
|
I've gone parts only for the exact reasons as above^^^^. Most scratch build guys I'd imagine should be thinking along the same lines as
well.
I mean if you've made all the bits on your own then they are not available off the shelf to buy for a repairer to source.
Even IF you found a company with the time and willingness to make the parts the labour cost in bookable hours would be horrendous and the car would
most certainly become a write off.
If it looks wrong it probably is wrong.
|
|
|
