Can I Insure A Car That’s Not Finished Yet?

December 19th, 2017

At Enthusiast Insurance it is common to hear from car owners wanting to insure their partially restored vehicle ‘once it’s finished’.

Some are quite shocked to learn they can insure practically any vehicle, even dismantled and unpainted, so long as it’s properly stored and protected against storm or malicious damage.

Enthusiast’s ‘Laid Up’ cover is also available for vehicles that are complete and running but just not being used. These range from scarce models being held as investments or perhaps part of a superannuation fund to unrestored ‘barn finds’ awaiting their return to past glory.

Worn, tired or dismantled vehicles can be difficult to value but here the team at Enthusiast have decades of experience upon which to call. Taking lots of photos is a good starting point, as is listing work already undertaken and how long ago. A 20 year-old repaint isn’t going to add much value while one that has just been completed will.

If you’re modifying a vehicle for ‘go’ or ‘show’ then a list of work that’s been done and money spent becomes particularly important. It is possible to outlay many thousands of dollars on an engine upgrade and have very little to show externally.

That said, our clients are always advised to be realistic in their expectations as it isn’t possible or practicable to insure every dollar spent on a car.

Parts that belong to the car but have been separated from it so repair work can be undertaken are covered too. They also must be stored securely and an excess will be payable if anything is damaged or stolen.

Securing the area where vehicles are stored makes good sense. While locked doors and windows do a good job of keeping human intruders out, gaps in walls and around the roof can let in all manner of wildlife which can inflict damage on precious motor vehicles.

Eventually when the vehicle is finished Enthusiast may ask for final photos or a valuation. Information like this helps ensure there’s an Agreed Value that’s acceptable to us and to the vehicle owner.

At that point and unless the car will only go anywhere on a trailer, your cover might need to be increased to include 1000 kilometres or maybe more of occasional driving.

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