Restoration insurance

[steve3.8]

Has anyone experienced insuring their car during restoration?.I have just started restoration of my 3.8 fhc which i have stored for 8 years but never insured before,its now in a bare shell /parts dismantled state with many new and restored parts.Do i need to get an independent valuation?-it would be a pain to get all the parts out of storage [garage loft] to prove its worth but maybe thats necessary,Steve

[Heuer]

First thing to check is to see if it is covered by your home insurance as a 'collectible'. Depending on value you may need to specify it separately or at least inform the company. I have all sorts on my home insurance - shotguns, tin toys, enamel garage signs, petrol pump, cocktail shakers, flintlock pistols etc. Car insurance is only a legal requirement for use on the road.

If you home insurance company refuse cover then give Footman James a call and they will no doubt be able to advise on a bespoke 'Under Restoration' policy to meet your needs. Insurance may only cover you for fire and theft but usually accidental damage in your care is included.

[christopher storey]

David's advice is sensible. Are you a member of JEC/JDC? These, particularly JEC, are the place to go for valuation, which you will definitely need. I suggest you have a talk with graham Searle of the JEC who does all their vals and will give you sound advice 0117 969 8186

[MarkE]

Steve
I have cars insured with Footman James on an off-road policy with an agreed value, though no 3rd party was required to approve the value.

A word of caution though. A chum recently had his garage, where he was restoring his car, broken into. The thieves made off with all of his new and restored smaller bits and pieces...total replacement cost well over ?5000. At first the insurance company refused to pay up, saying that as the parts were not fitted to the car, they were not covered as part of the car. He argued that many classic cars were laid up for the purpose of being restored, in which case, parts would be off the car! He eventually received the full replacement value, but it took months and a lot of hassle....just what you don't need after a break-in.

If you do try Footman James, ask them specifically about this issue...I'd be very interested in their response as I have a few cars in various states of undress!!