Build Insurance - UK

Andy · 10-02-06, 02:03 PM

Hi Guys,

Im hoping someone can help me.
Im looking for what im told by various insurance agents is
called ' Build Insurance '.
As in, insurance cover while i build the beast.
Has anyone out there been through this hoop before ?
It seems even most of the specialised ' Kit Car ' insurers
i found in the back of kit car magazines, have no idea
what im on about !
Please put me out of my misery and save me a fortune
in phone calls.
Any recommendations greatly appreciated, as always.

Andy · 10-02-06, 02:33 PM

Just to add to the main post,
Does it cover Fire and Theft of unassembled and assembled parts ?
Does it cover trailer transport to say the paint shop and is it insured
while it is there ?

Thanks.

J. Salmon · 10-02-06, 03:20 PM

I was told homeowner's covered the pieces until it was a car. I'd call your homeowner's insurance company first.

Joe T · 10-02-06, 03:33 PM

I just upped the cover of the Garage contents, tools equipment etc they charged me a little bit more on the premium but its worth it.

I believe all vehicles require a registration number to be insured, due to computerisation.

Cheers

Lee · 10-02-06, 03:51 PM

I got a policy from Adrian Flux, Kit Car department. Insured based on chassis number.

Chris Hale · 10-02-06, 03:56 PM

Hi,

I have been down this road so maybe I can help, the best people I could find was Adrian Flux (08700 777120)

They will insure you for build up cover for accidental damage, fire & theft.

I did ask them if my car was covered when it went over to the engineering shop to have the exhaust made and the answer I got was NO it should be covered on their insurance, you are only covered at your address where the car is being built.

The price for me worked out about £100 for every £10,000 insured and the max amount on the policy was £25,000 but the good thing was that I could increase the insured amount as I progress the project.

Hope this helps & good luck with your build.

Chris.

Lynn · 10-02-06, 03:57 PM

No car insurance companies would give me build insurance either because I didn't have a VIN number (I don't know what the equivalent is in UK.) Like others here, I had to get a special rider on my homeowners policy.

Regards,
Lynn

Ian Anderson · 10-02-06, 04:34 PM

Charley
I can confirm I did the same as Chris
Adrian Flux for about £120 covered it to £15000 for a year at stated premises. (no trailer cover)

It also covered water damage if flooded / roof damaged by storm, fire and theft.

The insurance can also be done based on an engine identification number.

they will then use this number as areference and can cover the car on the road to an from SVA on this number (before number plates) after plates are issued they change it to the plate number for ID - they would only cover it for a few days until SVA is passed.

Cheers
Ian

Andy · 10-02-06, 06:23 PM

Thanks for your help.
Incidentaly, i tried Adrian Flux and got an absolute wanker pre menstrual girl.
She tried to tell me ' no we cant insure it in a barn, it has to be a garage '
I vainly tried to point out, that id rather kick a normal garage 4" brick wall to break in , as opposed to that of a barn, a solid 9' concrete wall, but she put the phone down, when my answer didnt match her limited brain and tick boxes she cut me off.
Anyway, i rang back in and spoke to a supervisor, who knew who she was. Must have a record of petulant behaviour. When i mentioned the initial chassis and body , unbuilt, was worth $ xxxxx i got some serious attention.
Im glad to say, he agreed bonuses are paid on insured values and it would be pointed out , infront of all, what she had lost. Bloody tiresome kids.
Now ive got that off my chest, hehe, ill follow your advice and post back, the insurance i manage to get closest to what i feel i need.
Cheers for your observations.
PS Adrian Flux are getting back to me sometime this week.

Andy · 10-05-06, 09:44 AM

Hi Guys,
I can report back on my trials now.
Adrian Flux declined me cover.
If it is an old classic car being rebuilt, they require the original registration number. If it is a kit car, they require the registration number of the donor vehicle. Since my project is a new build without a donor vehicle, neither of those scenarios apply. Thus no cover.
I then spent much time trying other companies/brokers, with no success.
I investigated ' build up ' cover, but again they needed the registration number of the donor vehicle. I just couldnt find someone with ' the right box to tick '.
Finally i found a really helpful company and the bloke there , did some investigating on my behalf. Bingo, i got a policy to insure it as a ' Laid up ' vehicle, with the possibility of increasing the agreed value, as i build it.
If anyone out there is going or goes through the same dilemma. private message me and ill send you details of who to contact.

Chris_K · 12-18-06, 02:01 AM

Has anyone in the states solved this problem?

I have gotten non-encouraging replies from my agent who ended up arguing with his underwriter over the phone. They won't cover a vehicle without it being registered and they won't cover "parts" so I can't just up my homeowner's coverage.

I asked about the agreed value insurance and that's only for a registered vehicle as well. I know I'm not the first to do this. Anyone have any pointers?

Thanks in advance,
Chris

Chris_K · 12-18-06, 05:21 AM

I finally typed in the correct words in the search engine and found THIS THREAD. I sent a local agent an email and will see what comes of it.

Chris

John W · 12-18-06, 06:03 AM

Andy,
sorry, I missed this thread before.

I have a multi car policy, and my 40 will be covered using 'laid up' cover too.

My house contents insurance covers contents of the garage, including spare parts and tools. I have to tell them about the engine & gearbox though as these are both over the single item value, until I take out the 'laid up' cover, and then all parts for the car are covered, regardless of whether bolted to the chassis or not.

I've used laid up cover for my caterham when I've not been using it. Essentially it halves the fully comp insurance cover, as they remove the third party liability required for road use.

I'm surprised you couldn't getr build up cover. I got mine for the Caterham against the chassis number, using the sales invoice for confirmation. This was a few years back now though.

One thing. You need to check what cover you will have while the car is being trailered for paint work. it is unlikely your tow-car insurance will cover it.

Cheers,
John.