Build Insurance - a perennial problem...
Discussion
Time to have another go at this....
This is brought up again and again, and the results are sparse and ranging from the sublime to the rediculous - so it seems!
Who have managed to negotiate PURE build insurance amongst us?
Please tell us of your experience!
I would hope that we could raise a list of companies that would be worthwhile candidates?
Surey we should have a special Ultima Club deal by now, for the benefit of the cause?
cheers
This is brought up again and again, and the results are sparse and ranging from the sublime to the rediculous - so it seems!
Who have managed to negotiate PURE build insurance amongst us?
Please tell us of your experience!
I would hope that we could raise a list of companies that would be worthwhile candidates?
Surey we should have a special Ultima Club deal by now, for the benefit of the cause?
cheers
Seems like MCE as with other I have tried do not do it any more, which I find totally bemusing!
I used to be with Hagerty, but they stopped also!
I can't believe that the risk is any higher than full road-car insurance, indeed I would believe far less...so what is going on?
All I get is stonewalled when asking why!
Anyone had better luck recently?
K
I used to be with Hagerty, but they stopped also!
I can't believe that the risk is any higher than full road-car insurance, indeed I would believe far less...so what is going on?
All I get is stonewalled when asking why!
Anyone had better luck recently?
K
I am in a slightly different situation as I have a registered vehicle which the insurance companies recognise.
I have to keep the value artificially low (less than £30K) as to increase it I need a tracker fitted and certificated with Competition Car Insurance. My workshop insurance covers the remainder. This is the route I think others could take.
Look at your house contents insurance and see if it covers your garage and it's non vehicular contents. Until it is finished and registered it isn't a car. If it doesn't cover it consider the NFU Mutual which say they do but you may have to itemise the expensive bits.
Worth a try!
Paul
I have to keep the value artificially low (less than £30K) as to increase it I need a tracker fitted and certificated with Competition Car Insurance. My workshop insurance covers the remainder. This is the route I think others could take.
Look at your house contents insurance and see if it covers your garage and it's non vehicular contents. Until it is finished and registered it isn't a car. If it doesn't cover it consider the NFU Mutual which say they do but you may have to itemise the expensive bits.
Worth a try!
Paul
Don't know the exact situation in the UK, but in the Netherlands I got it insured on my normal house and appliance insurance.
I got a seperate insurance for my attached workshop.
Since it's not a car but a bunch of pieces it fell under this insurance.
Only requirement were some fireextinguishers and a flameretarding door to the house.
I got a seperate insurance for my attached workshop.
Since it's not a car but a bunch of pieces it fell under this insurance.
Only requirement were some fireextinguishers and a flameretarding door to the house.
Just got a quote from OAMPS - £613.60!!!
Seems somewhat high for an immovable set of objects that are locked up in an integral Garage!
I have heard of quotes for some of you for less for full insurance on the road FGS! Robbers!
Tried Axxa my house insurance...computer says...NO!
Rediculous situation! Two years ago I got build insurance from Hagerty for around £250..but come renewal, they did not want to know...
has there been a spate of kit-car in-mid-build-robberys that I don't know about?
Crazy...
Think you'll find that the underwriters nowadays are being very picky about what/who they cover now, that's why Hagerty's quotes went through the roof and stopped covering anything but a true classic, shame really as it's they who must have missed out on thousands 
I can't see us as being any bigger a risk than someone who owns a classic, mileage would be around the same and any accident repairs I would imagine a classic to cost far far more than ours?
I can't see us as being any bigger a risk than someone who owns a classic, mileage would be around the same and any accident repairs I would imagine a classic to cost far far more than ours?
One caveat on this subject. When your car is in someone else's shop DO NOT assume that it is insured by either your home owners or the shop owners insurance. I can not speak for the right side of the pond but on the left side this has left some people in very ugly situations after a fire ect. The other one that has occured here is the goverment comming in and padlocking a company for non payment of taxes. You will get you car back eventually but it will not be your fondest memory. I missed that one by one day manny years ago, the customer cars where held for almost 6 months before the court released them. Lee
ROWDYRENAULT said:
One caveat on this subject. When your car is in someone else's shop DO NOT assume that it is insured by either your home owners or the shop owners insurance. I can not speak for the right side of the pond but on the left side this has left some people in very ugly situations after a fire ect. The other one that has occured here is the goverment comming in and padlocking a company for non payment of taxes. You will get you car back eventually but it will not be your fondest memory. I missed that one by one day manny years ago, the customer cars where held for almost 6 months before the court released them. Lee
A fair warning and applies in the UK also. Either with Content insurance or with 'laid up' insurance(which is what they appear to use for unregistered cars, it does not cover anything outside your locked garage, and in most cases does not cover for damage or loss attributable to your activities on the car, so if you trailer, send to a 3rd party for work, or drop the engine on the body (ouch), then no payout!The only other insurance I know of is 'Special Risks' used by motor-sport
It's also highly advisable to check what your home insurance covers you for. Car parts are often not included or only covered for a very low amount. Also it makes a big difference if you workshop is attatched to your house or not. If your workshop is at the end of your garden I strongly recommend you clarify your cover. You may need a seperate policy, take photos of your workshop and all your tools in situ. Obviously keeping any reciepts you may have is vital. I can't stress strongly enough though the need to check how much you're covered for car parts & tools. If you accumulated your tool collection over many years just take some time to think how much it would cost to replace everything.
V8 Vum said:
Just got a quote from OAMPS - £613.60!!!
Seems somewhat high for an immovable set of objects that are locked up in an integral Garage!
I have heard of quotes for some of you for less for full insurance on the road FGS! Robbers!
Tried Axxa my house insurance...computer says...NO!
Rediculous situation! Two years ago I got build insurance from Hagerty for around £250..but come renewal, they did not want to know...
has there been a spate of kit-car in-mid-build-robberys that I don't know about?
Crazy...
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