zxrlocost
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| posted on 9/8/07 at 12:13 PM |
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Insurance advice for Car builders
Hi
thought id mention to everyone a few things on insurance
first things first the amount of people who often tell me there kit whilst building is not insured is worrying
most of you have parts worth thousands in your garage whilst you are building trust me a good thief would be in your garage and out without a whipser
and it would be pretty heartbreaking to wake up to
theyd sell the bits or even re chassis plate the car and make money
get it insured under a garage build for about £50 a year or there abouts. I had an agreed value of 10 grand parts to cover me on one car
Do not be led to believe house insurance covers your proud bit of work as youll be very lucky if it does and devastated to rely on that fact if need
be!!!!!!
once youve covered your car on a garage build and its ready to be SVA'd road tested etc
phone the insurance and tell them you want to insure it for the day whilst you test SVA etc youll need to make a chassis number
(even though your supposed to get one from the DVLA Whoops!)
itll cost about 25 quid for the day theres no "it needs to be SVA'd within a fortnight none of that
you can do as many 25 quid days as you want
then once youve passed the test and registered your car your ready to insure it properly
theyll knock all the £25's off your final premium
 if you havent claimed
hope that helps
chris
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RichardK
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| posted on 9/8/07 at 12:21 PM |
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Is that the same for all insurers this £25 per day or somebody specific?
Rich
Gallery updated 11/01/2011
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zxrlocost
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| posted on 9/8/07 at 12:22 PM |
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sorry mine was with Adrian flux
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zxrlocost
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| posted on 9/8/07 at 12:22 PM |
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sorry mine was with Adrian flux
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Bluemoon
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| posted on 9/8/07 at 12:23 PM |
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Good advice, but who on this site has actually had the part built car stolen? I can believe quite a few have had tools taken.. If you have good house
insurance (check with them before taking up the policy) and photos of your tools this part should be o.k.
Dan
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zxrlocost
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| posted on 9/8/07 at 12:26 PM |
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Hi
its alright saying whos ever had there part built stolen so your gonna do yours on that fact?
some people have kits and parts theyve purchased worth thousands
phone up your house insurance tell them what youve got in your garage and see what they say!
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coozer
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| posted on 9/8/07 at 12:34 PM |
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Good point, I have a near complete car and no insurance
Can anyone recommend a decent insurance company that will be worth staying with once the build is complete?
[Edited on 9/8/07 by coozer]
1972 V8 Jago
1980 Z750
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BenB
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| posted on 9/8/07 at 12:34 PM |
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I agree. For peace of mind its a v good idea. The only thing I would say is that if you don't do the £25 a day thing and instead do the "2
weeks to give us the reg number or else" insurance then don't let the insurer cancel the build-up insurance.
When I got my on-road insurance they cancelled my build-up insurance (no refund for unused months left) then when I failed SVA although I got a credit
note for the unused part of the on-road insurance I no longer had any build-up insurance....
Not fair!!! Oh well, passed SVA eventually so I'm on-road now and fully covered....
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Bluemoon
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| posted on 9/8/07 at 01:14 PM |
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I probably should have made it clear, as you say house insurance will not cover a part built car, period.. But they might cover tools..
Dan
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ash_hammond
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| posted on 9/8/07 at 01:45 PM |
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I agree with chris,
When my car was mainly boxes of bits i did not think about insurance. However, when the car was 70% build and a started the wiring i quickly insured
her. Its not always about it being stolen - consider wiring faults that cause fires, leaving solding irons on overnight (not that i did that one
).
Ask your self the question what easier to cope with loosing £50 to £80 or £10K
Ash
.: www.mac1motorsports.co.uk | www.m1moc.com :.
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designer
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| posted on 9/8/07 at 01:59 PM |
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On any GOOD contents insurance policy the contents of a garage are covered. As long as you mention a it and give a value.
My CD collection is worth a lot more than a seven type car and is covered new for old for a nominal additional sum.
Kit insurance is another way of taking money off us.
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mcerd1
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| posted on 9/8/07 at 03:02 PM |
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quote:
Originally posted by designer
My CD collection is worth a lot more than a seven type car and is covered new for old for a nominal additional sum.
that reminds me - I've not added my CD's to my insurance yet, not that I've got that many, but it'd still take a few £k to
replace them 
I've got my car with AF on a laidup/ buildup policy - but there is no way my home insurance would cover it, its 4 miles away from the house 
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Bluemoon
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| posted on 9/8/07 at 03:15 PM |
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Hi, designer
Asked about this when we were looking for insurance, company's would cover the stuff in the garage but NOT the kit car, even after explaining
that it's a load of parts.. It's to much like a car for them to take a risk.. If you have found a company that will insure the kitcar bits
as well on the house content insurance it would be good to know who does this...
Cheers
Dan
[Edited on 9/8/07 by Bluemoon]
[Edited on 9/8/07 by Bluemoon]
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Confused but excited.
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| posted on 9/8/07 at 04:51 PM |
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quote:
Originally posted by designer
On any GOOD contents insurance policy the contents of a garage are covered. As long as you mention a it and give a value.
My CD collection is worth a lot more than a seven type car and is covered new for old for a nominal additional sum.
Kit insurance is another way of taking money off us.
Yes, provided it's average contents; few tools and a lawn mower.
I tried a lot of companies and couldn't get more than £2K coverage. My tools would cost at least £10-15K to replace. So far only two companies
have offered decent cover on out buildings.
Tell them about the bent treacle edges!
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BenB
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| posted on 9/8/07 at 06:02 PM |
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quote:
Originally posted by designer
On any GOOD contents insurance policy the contents of a garage are covered. As long as you mention a it and give a value.
My CD collection is worth a lot more than a seven type car and is covered new for old for a nominal additional sum.
Kit insurance is another way of taking money off us.
I'm alright. We got burgled and the burglars went through my CD collection and left most of them lying on the bed. Only a few were in a bag
ready to swipe (they got disturbed so left everything)......
Good to know I don't have the same taste in music as the people who buy stuff off fencers (or Ebay powersellers as they're now known).....
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chrsgrain
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| posted on 10/8/07 at 09:21 AM |
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Quick note - just been on the phone to Footman James and Adrian Flux. FJ doesn't do an agreed value policy - no good for me. AF will insure
for 30 days, then if not SVA'd and registered the policy will lapse, just have to cancel before this to get a refund.
Went with AF
Chris
Spoing! - the sound of an irony meter breaking...
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zxrlocost
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| posted on 10/8/07 at 09:43 AM |
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chris at first glance youve done it the wrong way
its garage build up you want
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