Build Insurance

[Davrianman]

Hi Chaps,

Picking up my GTR kit on Sunday at the open day. Can't wait! Did any of you have build insurance for your cars (for fire, theft etc). If so could you recommend any companies?

Assembly dolly/frame is ready, just need to move the race davrian out the way to the spare garage! May see some of you on Sunday. I'm the fat bloke with a bad back, light wallet and a cheshire cat grin! :-)

Mart

[GTWayne]

Good man, the more the merrier! Any questions you may have I suggest you write them down and I am sure if asked on the day, all will be answered. Lets hope you are not to large otherwise you will not find it easy getting in and out of the Ultima. I am looking to shed at least 3 stone in readiness for slick entry/exit into/out of my GTW (it should also make the car a little quicker).

[steve_d]

MSM covered my build insurance but I'm not sure if they still offer it.

Steve

[andygtt]

MSM can no longer offer build insurance apparently, I think footman james can though.

[davrianman]

Thanks Chaps,

I called Footman James and Adrian Flux. Footman were 30% cheaper than the other, so I'm taking out a policy with them.

Out of interest, who is the best company to insure your Ultima with when on the road?

Thanks!

[stig]

davrianman said:

Thanks Chaps,

I called Footman James and Adrian Flux. Footman were 30% cheaper than the other, so I'm taking out a policy with them.

Out of interest, who is the best company to insure your Ultima with when on the road?

Thanks!

I'm insured with FJ. They were easily the best deal when I took out my policy (road that is) a couple of months ago.

[M3desmo]

Out of interest, are you intending to build your kit at home? If so, would your household policy not cover the components and therefore negate the need for separate insurance?

[stig]

M3desmo said:

Out of interest, are you intending to build your kit at home? If so, would your household policy not cover the components and therefore negate the need for separate insurance?

Given that you can easily have £30k-40ks worth of bits in the house, I think you'd need to itemise it on your policy.

[M3desmo]

My policy only requires individual items over £5000 to be itemised. Furthermore, my overall level of cover can be increased quite easily for a nominal amount.

It was really just a thought to minimize costs by using household policy instead of separate policy to cover the build. In practice it may well be cheaper to have a separate policy.

[crafty]

davrianman said:

I called Footman James and Adrian Flux. Footman were 30% cheaper than the other, so I'm taking out a policy with them.

You're going to have your parts insured....Cool..... what's your address.

[yiihaa]

M3desmo said:

My policy only requires individual items over £5000 to be itemised. Furthermore, my overall level of cover can be increased quite easily for a nominal amount.

It was really just a thought to minimize costs by using household policy instead of separate policy to cover the build. In practice it may well be cheaper to have a separate policy.

So what cover would you have when the car is almost complete but not registered?

I didn't like the idea of a brand new £45k car sitting in my garage uninsured. I don't think your household insurance would be too sympathetic when you told them that a loose assortment of £5k parts was driven off your premises.

[davrianman]

You're going to have your parts insured....Cool..... what's your address. [/quote]

Now that would be telling!

I've gone for the insurance from Footman James. £99 for the year for fire, theft and accidental damage. It's called a 'lay-up' policy so the kit / car is only insured in the garage. If you accidently damage any parts though they are also covered. Hopefully not needed, but when you have thousands of pounds worth of parts, I think it's worth it.

Thanks for the help. Hopefully meet some of you on Sunday,

Mart

[M3desmo]

Sounds like a good deal that you got there Mart. Definitely worth the minimal cost and I would admit, easier to justify to the insurance company if you were unfortunate enough to have to make a claim, than if it was being claimed on a household policy.

Two large guard dogs roaming the garden at all times, also does wonders for keeping thieving scum out!

[yiihaa]

davrianman said:

If you accidently damage any parts though they are also covered.
Mart

That sounds great, does that include being a bit too enthusiastic with the Sikaflex and making a black sticky mess over your gel coat?

[davefiddes]

yiihaa said:

That sounds great, does that include being a bit too enthusiastic with the Sikaflex and making a black sticky mess over your gel coat?

White spirit on a rag will rub that off in a minute or two...

[stig]

davefiddes said:

yiihaa said:

That sounds great, does that include being a bit too enthusiastic with the Sikaflex and making a black sticky mess over your gel coat?

White spirit on a rag will rub that off in a minute or two...

I'd recommend WD40 - not white spirit.

[steve_d]

I'd recommend brake cleaner (Naphtha) - not WD40 or white spirit.

Steve

[davefiddes]

White spirit wont melt your bodywork, the car's bodywork or generally do anything too unpleasant...

[stig]

davefiddes said:

White spirit wont melt your bodywork, the car's bodywork or generally do anything too unpleasant...

Ever got it on the polycarbonate bits....

[davefiddes]

stig said:

Ever got it on the polycarbonate bits....

Yep. Used it to wipe off stray adhesive from the masking tape on my sidescreens. That was the best part of 3 years ago and there's no problem with cracks, surface crazing or any of the other nasty things that VOCs (even meths) can do. Whatever you use, following up with soapy water is a given...