Insurance cover whilst classic car is undergoing restoration
Discussion
I'm in the process of doing a complete restoration on my classic car and having completely stripped the boodyshell (with the exception of suspension and wheels), have sent the rolling shell off to a small specialist bodyshop to have a number of new panels welding in and then have a bare metal respray.
In the event of something untoward happening - bodyshop burns down, company goes bust, workshop broken into and car stolen etc. my car would [should] be covered by the bodyshop's insurance policy - but what if it had lapsed or certain terms had not been complied with and the insurers refused to pay out?
I assumed that i would be covered by the classic car policy that i have on my car, but having checked with my insurer it isn't!
I then asked my broker who specialises in classic cars if i could change to another insurer so that i was covered. Unfortunately he said none of the comapnies he deals with include such cover, as its down to the bodyshop to have adequately insurance.
Does anyone know of a classic car policy that does include cover when car is undergoing restoration at a business premises?
I would imagine that the bodyshop is responsible for customer's cars whilst it their care, and if something happened and they didn't have suitable insurance then i'd be able to pursue them for any finacial loss i suffer. Fine in theory, but a number of high value classics might easily exceed the net worth of the business owner...................
NB. I've no reason to doubt the integrity of the company doing the work, or that they wouldn't have sufficient insurance cover, if i did i wouldn't have entrusted my car to them. But insurance is there to give peace of mind if the worst were to happen and i prefer to pay a little bit of money for the peace of mind that i won't lose a lot of money if the unthinkable were to happen.
In the event of something untoward happening - bodyshop burns down, company goes bust, workshop broken into and car stolen etc. my car would [should] be covered by the bodyshop's insurance policy - but what if it had lapsed or certain terms had not been complied with and the insurers refused to pay out?
I assumed that i would be covered by the classic car policy that i have on my car, but having checked with my insurer it isn't!
I then asked my broker who specialises in classic cars if i could change to another insurer so that i was covered. Unfortunately he said none of the comapnies he deals with include such cover, as its down to the bodyshop to have adequately insurance.
Does anyone know of a classic car policy that does include cover when car is undergoing restoration at a business premises?
I would imagine that the bodyshop is responsible for customer's cars whilst it their care, and if something happened and they didn't have suitable insurance then i'd be able to pursue them for any finacial loss i suffer. Fine in theory, but a number of high value classics might easily exceed the net worth of the business owner...................
NB. I've no reason to doubt the integrity of the company doing the work, or that they wouldn't have sufficient insurance cover, if i did i wouldn't have entrusted my car to them. But insurance is there to give peace of mind if the worst were to happen and i prefer to pay a little bit of money for the peace of mind that i won't lose a lot of money if the unthinkable were to happen.
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