Ultima GTR build insurance
Discussion
My build (which is not an Ultima, but something very similar, being also of Lee Noble design)is covered by MSM. See http://www.msminsurance.co.uk/kitandspecialistcars...
an amusing tail, but something to consider.... when I was building my spyder i got "build" insurance, cost around £40 a year I recall. Anyway, my spyder was 90% finished and so booked it into ultima to check/finish etc.
I put the ultima on a trailer and towed it up there from portsmouth. On the way I had an "incident" ultima came off the trailer, and landed on the ermco of the A34 (I think I have the record for the longest traffic jam ever as I needed 3 pick up trucks (one for the ultima, one for my towing car and one for the trailer) as well as a crain to pick up the ultima!
Anyway.... long story later, the bill was for £10k! from ultima to put everything right! I phoned the insurance guys.... thay paid because I was booked into ultima! worth knowing!
I put the ultima on a trailer and towed it up there from portsmouth. On the way I had an "incident" ultima came off the trailer, and landed on the ermco of the A34 (I think I have the record for the longest traffic jam ever as I needed 3 pick up trucks (one for the ultima, one for my towing car and one for the trailer) as well as a crain to pick up the ultima!
Anyway.... long story later, the bill was for £10k! from ultima to put everything right! I phoned the insurance guys.... thay paid because I was booked into ultima! worth knowing!
i have just got an insurance quote from MSM. A sum insured of £50,000 will cost just £296.75 for the main cover or £402.75 including Goods in Transit insurance.
I think this is ridiculous, bearing in mind i will only start the project with around 15k worth of parts and 2k of tools and bits.
What do you guys think?
I think this is ridiculous, bearing in mind i will only start the project with around 15k worth of parts and 2k of tools and bits.
What do you guys think?
I must be missing something obvious - but why are you getting a quotation for £50,000 when the initial value is £15,000.
Insure it for £15,000 and then when you get into the build you re-insure it for a higher value.
If the company you are talking to can't do that, then they are not Kit Car Specialists, are they ?
Regards
Insure it for £15,000 and then when you get into the build you re-insure it for a higher value.
If the company you are talking to can't do that, then they are not Kit Car Specialists, are they ?
Regards
s
thotfast said:
thotfast said: an amusing tail, but something to consider.... when I was building my spyder i got "build" insurance, cost around £40 a year I recall. Anyway, my spyder was 90% finished and so booked it into ultima to check/finish etc.
I put the ultima on a trailer and towed it up there from portsmouth. On the way I had an "incident" ultima came off the trailer, and landed on the ermco of the A34 (I think I have the record for the longest traffic jam ever as I needed 3 pick up trucks (one for the ultima, one for my towing car and one for the trailer) as well as a crain to pick up the ultima!
Anyway.... long story later, the bill was for £10k! from ultima to put everything right! I phoned the insurance guys.... thay paid because I was booked into ultima! worth knowing!
Where on earth did you insure it?I put the ultima on a trailer and towed it up there from portsmouth. On the way I had an "incident" ultima came off the trailer, and landed on the ermco of the A34 (I think I have the record for the longest traffic jam ever as I needed 3 pick up trucks (one for the ultima, one for my towing car and one for the trailer) as well as a crain to pick up the ultima!
Anyway.... long story later, the bill was for £10k! from ultima to put everything right! I phoned the insurance guys.... thay paid because I was booked into ultima! worth knowing!
I want some of that!
but then they may have now joined the throng of rip-off insurers now!
Guys,
To help others here, I wondered if those who have recently found reasonably priced build insurance, maybe with trailer cover could start adding these details on here? It would certainly help me! It appears that many are charging almost road-going rates, which I find somewhat wrong and a bit steep!
BUILD INSURERS
Insurer Price
ACME Insurance 50 pence (dummy...)
To help others here, I wondered if those who have recently found reasonably priced build insurance, maybe with trailer cover could start adding these details on here? It would certainly help me! It appears that many are charging almost road-going rates, which I find somewhat wrong and a bit steep!
BUILD INSURERS
Insurer Price
ACME Insurance 50 pence (dummy...)
Gassing Station | Ultima | Top of Page | What's New | My Stuff