kit car insurance

[Reds82]

Wanted to see if anyone has ever dealt with getting insurance on a kit car in pa? Are kit cars/ hotrods and such on your same policy or do they get a new policy like motorcycles? Right now I have state farm going to call them when I have some free time. Just wanted to see if anyone has or had a kit car and what they found was good.

[jpalamar]

I believe its the same as insuring a classic. Defferent policy though a speciality company. Basically have it appraised and get an agreed value policy.

[BrandonINS]

Originally Posted by Reds82

Wanted to see if anyone has ever dealt with getting insurance on a kit car in pa? Are kit cars/ hotrods and such on your same policy or do they get a new policy like motorcycles? Right now I have state farm going to call them when I have some free time. Just wanted to see if anyone has or had a kit car and what they found was good.

Getting insurance for a kit car in PA is not hard and does not require a specialty insurance company. What is hard is getting the proper registration from PA due to the limit on how many kit car registrations are given out a year. With the proper paperwork for the car and being street legal we can help you get insurance easliy. Feel free to contact me for more information.

[ITSTOCK]

Getting registration on kit cars is actually pretty easy, and I haven't heard of there ever being any kind of limit. So long as you pass the inspection requirements and fill out the forms properly, it's just a couple week wait at the DMV.

So now on to the question about insurance; it depends on your policy holder. Some won't insure them, and if they do under a normal policy, they are usually insanely expensive. What you want for most kit cars is an agreed upon value as stated above, unfortunately most of these have limitations on them. The agreed value policy is a set amount of money if something happens to your car, not what they deem is market value based on nada, kbb, etc. It's the same as a collectors/antique car policy.

I have an agreed upon value for $60k and it's just under $400/year, this is through Philadelphia Insurance company, through Grundy WorldWide. Through the normal grundy classic car insurance, the policy was around $1500.

The limitations for my policy are really that it has to be garaged kept and it can't be a daily driver. That's pretty much it, outside of any normal policy limitations (won't be covered while racing). Also, I believe you have to be 25, and you can't have any tickets within the past 3 years.

Grundy WORLDWIDE/Philadelphia Ins. had, by far, the best policy that I came across.

[Reds82]

Yea total value wont be that high Im looking to build a lotus seven replica or Healey 3000 replica like my grandfather had when I was a kid

[HatchSurfer3]

Originally Posted by ITSTOCK

Getting registration on kit cars is actually pretty easy, and I haven't heard of there ever being any kind of limit. So long as you pass the inspection requirements and fill out the forms properly, it's just a couple week wait at the DMV.

So now on to the question about insurance; it depends on your policy holder. Some won't insure them, and if they do under a normal policy, they are usually insanely expensive. What you want for most kit cars is an agreed upon value as stated above, unfortunately most of these have limitations on them. The agreed value policy is a set amount of money if something happens to your car, not what they deem is market value based on nada, kbb, etc. It's the same as a collectors/antique car policy.

I have an agreed upon value for $60k and it's just under $400/year, this is through Philadelphia Insurance company, through Grundy WorldWide. Through the normal grundy classic car insurance, the policy was around $1500.

The limitations for my policy are really that it has to be garaged kept and it can't be a daily driver. That's pretty much it, outside of any normal policy limitations (won't be covered while racing). Also, I believe you have to be 25, and you can't have any tickets within the past 3 years.

Grundy WORLDWIDE/Philadelphia Ins. had, by far, the best policy that I came across.

So since you went through Phila. Ins. it was cheaper than going directly with Grundy? I work in this industry so I'm curious about this if you don't mind me asking.

Originally Posted by Reds82

Yea total value wont be that high Im looking to build a lotus seven replica or Healey 3000 replica like my grandfather had when I was a kid

Let me know what you plan on building and I may be able to help you out with it. I'm an underwriter with a specialty insurance company. Not a sales guy so I'm not trying to make money off you don't worry haha.

[ITSTOCK]

Originally Posted by HatchSurfer3

So since you went through Phila. Ins. it was cheaper than going directly with Grundy? I work in this industry so I'm curious about this if you don't mind me asking.

For all else to see, this is correct.

Grundy is considerably more expensive than Grundy Worldwide.

You can probably play with the numbers on their websites for quick quotes. The real quotes are identical (or were for me).