Kit cars are different from the norm and so their owners should look for an insurance policy that reflects their specific requirements. If you compare car insurance online you may find that the bulk of conventional insurers won’t offer quotes for your vehicle – however, there are a handful of specialists that address the needs of kit car owners with special policy options and competitive premiums.

Why is kit car insurance different from insuring a regular vehicle?

Most car insurance companies use a number of criteria to assess premiums – these include your claims history; your personal circumstances; your address; your annual mileage; and the car you drive.

Different vehicles receive different premiums based on how much they would cost to replace/repair; their performance capabilities; and so on. Due to the unique nature of kit cars, which are often replicas of popular models but with non-standard engines, wheels, transmissions and other vitals parts, restoring them to their previous condition following an accident could be expensive for an insurer. As such, many will refuse to offer cover altogether.

However, there are a number of specialist insurers on the market that offer policies with features designed for kit car owners.

What features should a kit car owner look out for?

Some of the specialist features a kit car owner should consider include:

- Agreed valuations: Should you suffer a total loss of your vehicle – such as in the event of a write-off or theft - many car insurers will only offer a market valuation of the car. With kit cars, a market value can be difficult to determine, which could mean that your vehicle is under-valued and that you are left seriously out of pocket because the insurer’s payout does not match your expectations. However, with some specialist insurers it is possible to establish agreed valuations – this is when the valuation of the kit car is determined from the outset. It is important however, to ensure that this valuation is guaranteed.

- Breakdown cover: It can be difficult to find breakdown cover for a kit car with a standard company, so see if your insurance provider is willing to offer roadside assistance.

- Build up cover: Also known as laid-up insurance, this protects your kit car when it is not on the road, from risks such as thefts and mishaps.

- European cover: Many kit car owners take their vehicles overseas to participate in special events, so ensure you will have at least a basic level of cover in Europe and check to see how long this cover lasts for.

- Goods in transit cover: Look for protection for your kit car when you are collecting or moving it; as well as for parts and tools from manufacturers.

- Multi-vehicle cover: The majority of kit car owners own at least one other vehicle. To save time and money you may wish to tie all of the vehicles you own under the same insurance banner – this way, you pay just one premium. Many specialist insurers offer competitive discounts if you insure more than one vehicle with the company.

- Track/rally cover: Nothing beats showing off your pride and joy in an organised event such as a track race, rally or hill climb. However, you will need specialist cover if you’re planning to participate.

In addition many specialist kit car insurance companies offer a number of incentives to help reduce premiums, such as:

- Advanced driving course discounts: Completing an advanced driving course could reduce your premiums – however, consult your insurer ahead of time to see whether the premium savings make undertaking the course worthwhile.

- Limited mileage discounts: As most kit car owners only use their vehicles on special occasions, agreeing to a mileage cap could lead to significant savings as the fewer miles you travel, the lower the risk of you being involved in an accident.

- Owners’/manufacturers’ discounts: If you’re a member of an enthusiasts’ club you may be rewarded with premium reductions.

Additional ways to save on kit car insurance

Here are some additional tips that could help to reduce your premiums:

- Assess your excess: Think about the amount you could comfortably afford to pay towards a claim. Increasing your voluntary excess could lower premiums.

- Increase security: Fit Thatcham-approved security devices such as car alarms, immobilisers and trackers to limit the risk of car theft.

- Limit your engine size: Vehicles with large engines are deemed more likely to be driven at fast speeds and involved in high impact accidents, so consider limiting the engine size of your kit car.

- Park safely: Ensure your kit car is kept in a locked garage overnight, away from prying thieves and vandals.

- Pay annually: By paying car insurance premiums upfront you can avoid interest charges.