Insurance for Custom and Unique cars
Not insured? You should be. Your steeter is a target, no matter what you do to protect it. And insurance is out there, set up to protect responsible steet machiners in good cars. You don’t even have to look long and hard to find it, as there are many companies now competing for this share of the market.
The standard wording on all the big insurance companies policies goes something like ‘an uninsurable car is one that has been modified to enhance performance’ and that doesn’t mean radically modified, it could include extractors, tyres and mag wheels. They’re very conservative. Insurance is like buying a promise. They promise to pay you out, but you have to play the game by levelling with them about anything that affects the risk they are exposed to. That boils down to not telling fibs- come clean about your driving record and claims history
How do you determine a street machine’s value? A pile of reciepts and an engineers report may tell the world how much it cost, not to mention the hundreds of hours spent, but a bloke can never sell it for the same amount. The specialised insurance companies will ask you, and work out how much you would be able to sell the car for, and then it is insured at an agreed value.
So which insurance company should you go for? Well I can’t help you there, as I don’t know your claims history or driving record, or what type of car you drive, but I can give you a few tips. Go for a company that is underwritten by a huge company. Make sure they have been in business for a while. Get an imobiliser fitted. Get first option on the wreck (salvage). Be honest about your application. You will probably be pleasantly surprised with the prices these days. Remember it’s not whether you can afford the insurance. Can you afford not to have it?