Most people that own cars that were made from kits are aware that they need to purchase insurance. However since a vehicle made from a “car kit” is different from your average car, most people assume that it requires a special type of insurance. If you think that you need a special type of policy for your fully assembled kit car, you’re correct. However, most of the time you are incorrect in assuming that most major providers will not be willing to offer you a policy for your vehicle.
It is important to recognize that most car kits are unique and are tough to insure because they require assembly work. If you own an extremely rare kit, it may be more expensive than average to insure. However, most insurance providers will still look at factors such as: cost of the kit to replace, your driver’s record, and they will assign you into a group based on your risk.
If you have a high level of risk based on past actions such as drunk driving, your kit car is going to be more expensive to insure than someone without convictions. So keep in mind that insurance companies do not only look at the value of your kit car when giving you quotes. Part of getting a good deal comes with being a responsible driver to keep your risk low over time.
How is Kit Car Insurance different from Standard Car Insurance?
There are some fundamental differences between kit car insurance and standard auto insurance. If you think about what a vehicle is that has been assembled from a “kit” – it poses significantly more risk to the insurer than a regular vehicle. Why? Because they generally don’t have nearly as good of crash safety ratings, the parts may be rare or expensive to replace, and they generally do not have airbags. Since they aren’t as safe as standard vehicles, the parts are rare, and they take time to assemble, they tend to be more costly to insure.
Driving your kit car part time
Most people with kit-style vehicles are only allowed to drive them during the summer months or for a limited number of miles throughout the year. If you drive your kit car less often than your standard vehicle, it is going to cost less to insure. The majority of drivers that own kit cars tend to look at temporary insurance policies – most shoot for 3 months of the year: June, July, and August. However, certain owners may add May to the equation for a 4 month policy.
Is your kit car considered “rare?”
If you live in a warm state like California, you may want to have the option of driving your kit car throughout the entire year. It is possible to get your kit car insured under a full term policy, but it isn’t recommended unless you either: don’t drive it much or have the extra money to spend on its insurance policy. The value of your kit car also will play a role in determining the price of your insurance. If you get it appraised and it is worth $100,000 and considered “rare” – this is obviously going to be tougher to replace than one worth $20,000 that is considered “common.”
What type of Kit Car Insurance should I buy?
When determining the type of kit car insurance you should buy, it is important to take the value of your vehicle into account. If your kit has been appraised and is said to be worth a lot of money, you will want to probably make sure that you have both comprehensive and collision insurance. You still need to meet your state’s required insurance amount in terms of liability and property damage coverage, but if you own an expensive kit, you will definitely want more insurance than the minimum requirements.
If you don’t have any problem with damaging your kit and think that it isn’t worth very much, you may not want to opt for a comprehensive policy. It is important for you to take the personal initiative to get your car appraised by a professional if you are unaware of the worth. After you have figured out the worth, you can sit down and think about whether you have enough money in your budget and whether it is a good idea to buy the extra insurance coverage.
Should I go with a standard provider or a specialist for my kit car?
Most people wonder whether they should go with an insurance company that specializes in car kits or whether they should go with a standard provider. The truth is that although specialists tend to be more favorable among kit car owners, they may not offer many more options than a mainstream provider. It is important to always compare quotes, types of coverage, and do research ahead of time to make sure you end up with an insurer that you are comfortable with.
Read reviews, ask around, and you should be able to come up with a few good companies that you can turn to for insurance. If you need to get quotes, be sure to use the free tool at the top of the page. In order to use it, just enter your zip code and you will get quotes from the leading insurance companies in your area. Take the time to follow up on the quotes and see whether they will be able to cover your model of kit car.