Insurance for those owning Kit Cars, Classic or Imported Cars

Imported Car

Getting an imported car insured is a bit tough because it is likely to have been built without taking into account ‘build specifications’ of the country. Also, kits and parts of these cars have to be imported in case of accident, which requires more money. Making an estimate too is difficult, as it needs an expert, who understands the car. So, it is always likely that you pay a higher premium for your imported car than normal cars.

However, some companies offer insurance not only to imported cars but also the kit cars and classic cars. There are different types of imported car insurance depending on from where you import it. It might be different from country to country. So, it is important to discuss with the insurance companies first before importing a car. It will make you easy to ascertain how much the insurance will cost. One has to provide the insurer the detailed information about the vehicle’s specification in order to assess their suitability for the policy.

Classic Car

Normally, auto insurance companies divide classic car insurance policies in categories such as - Veteran Cars (built before 1903), Vintage Cars (constructed between 1903 and 1933) and Classics Cars (tend to be at least 15 years old).

The insurance company fixes a value of the car before giving the policy looking the condition and make of the car. The car is insured according to its value. The insurer also stipulates the maximum distance that can be traveled in a year by the car. It is important that the customer take out a guaranteed agreed valuation while insuring their classic car as the condition and antiquity of classic cars differ.

Kit Car

A kit car is generally an imitation of a popular car. The manufacturer supplies the body parts and the frame kit except an engine, wheels, transmission and other vital parts. Getting insurance for a kit car is tough and different from normal cars. Since, you have developed it on your own. So, the insurance company may not approve insurance application of this car.

It is wise to start the insurance process at the time of building the car, as many replica kits do not come cheap. It is important to check whether your car qualifies for the mileage policy once the car is on the road. However, the main point to be noted is that you declare everything about the car. The company may not pay your claim if any information is missed or found wrong.

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