The cost of insuring your kit car will depend on the model and size of your vehicle and the reason you use it. When speaking to one of our friendly advisors on the phone, you will be asked the body type and engine and whether you use your vehicle for leisure or work purposes such as commuting.
Typically, cover will be more expensive if you have a larger vehicle with a bigger engine because this increases the risk of being involved in an accident.
Furthermore, if you use your kit car to leisurely drive around your neighbourhood on weekends, it will cost less than someone who faces a lot of risk by driving in a rally.
The more modifications you add to the vehicle, the more costly it will be to insure as you have to consider the additional cost of repairing and replacing key parts such as lights, alloys and custom paint job.
It will be significantly more expensive to insure young drivers, especially those under 21 as they have less experience on the road and are considered high-risk by insurers.
To save money on your insurance, there are premiums available if you belong to a vehicle owners’ club such as the Westfield Sports Car Club. You should also consider adding security features to protect your kit car such as keeping it in a garage overnight or making sure that there are adequate locks and alarms to avoid it getting stolen.
At Call Wiser, we work with a number of kit car insurance specialists so that we can find the best quote for you. We have access to a number of introductory offers to keep prices down and can also help you calculate your excess so that you pay as little as possible.
Based in Andover, Hampshire, our team of insurance advisors is waiting to take your call. Speak to someone today by calling 0333 003 3270.
All new policies with Call Wiser come with free claim assistance, breakdown cover, handbag and wallet, helmet cover and mobile phone cover too. In addition to fire, flood and theft, kit cars come with specialist cover including:
Build up cover
This insures your kit car as soon as you have ordered the parts, so you can still claim even if your car is lost or stolen before it was fully assembled. This price of cover should usually be 1-2% of the vehicles value.
Goods in transit
You can get cover for any goods that are damaged or lost in transit. Enthusiasts will buy expensive parts from all over the world for their vehicle so having this cover is essential.
Agreed value cover
You may want to agree the value of your vehicle with your insurer. Unlike most cars which depreciate in value, a kit car can actually be worth more over time because of its uniqueness and the more modifications you add to it. So by agreeing a value beforehand, you can get full compensation for its worth in the event of theft, fire or other damage.
Salvage retention cover
This allows you to buy back the wreckage of your vehicle if it is involved in an accident and use the parts to build a new kit car.
If you built the car yourself, there is no need to pay for insurance if it is going to be sent to a garage to be fixed. If you can fix any damages yourself, you can get ‘parts only cover’ to replace key parts and no labour – saving you around 30% on your overall premium.
If you want to take your self-made model off-road, like onto tracks or fields, you can get specific cover just for this. Insurers do not consider this high risk as you are not likely to collide with big cars or pedestrians.
If your vehicle is simply for show purposes, you can get cover to pay for any damages that occur when transporting the vehicle or when it is on show or at an exhibition.
A kit car is a vehicle assembled from scratch using a variety of bought-parts. Typically created in a garage, the buyer sources various parts from one place or a number of places and puts them all together to create a functioning car. You are essentially getting all the kit you need to build your own car. They are characteristically low, convertible and used for leisure purposes including:
Popular kit cars in the UK that we insure include Westfield, Robin Hood, Beauford and Caterham, which costs around £15,000 to buy the parts, you need.
Similar to this are ‘replica cars’ which have the appearance of a luxury car like a Porsche, Ferrari or Aston Martin but the body is usually made up of different components and someone with the technical know-how has built the high performance car at a lower cost.
To legally drive a kit car on UK roads, drivers must pass an Individual Vehicle Approval (IVA) test, which is inspected by the Vehicle and Operator Services Agency. This costs just under £200 and checks that the vehicle is safe to drive in public.
Once you have passed the test, you will need to complete a V627/1 form and a V355/4 form to register the number plate. When complete, you will not require an MOT for another three years however; you must pay tax for the vehicle every year.
If you do not drive your creation on UK roads and only keep it in the garage, you can get a Statutory Off Road Notification which you submit to the DVLA and states that you do not drive on public roads. This will make you exempt from paying for insurance and road tax.
You can get laid up insurance which covers your vehicle for unforeseen circumstances when it is not driven, such as fire, flooding or something falls in your garage and damages the vehicle. Alternatively, you can get home insurance whereby you list your kit car as one of your contents.
Call Wiser is a trading name of Be Wiser Insurance Services Ltd. Registered in England No. 6097813. Be Wiser Insurance Services Ltd are Authorised and Regulated by the Financial Conduct Authority 465471