Insurance during build

[Itsallgood]

Hi guys just picked up a mk3 that is about 75 percent finished. Trying to find a company to get insurance from while I finish the build prior to registering it. I am in Pitt Meadows, B.C. Canada.
Thanks

[J R Jones]

Same question/thread came up in the last month, and it got shifted to a Canadian FF Forum. My contribution was that Hagerty coverage is offered through a Canadian agent. Google it.

[Alan_C]

Contact Robbin at MidWest Insurance. He provided insurance while my MK4 was being built back in 2013. He in now providing insurance for my Mustang restomod under construction. You may not be able to get the agreed value that you want, but not ridiculously low either. I wanted $50K on my Mustang, which is the value of the parts on site. He was able to underwrite for $35K and that will be revised each year. I was concerned that I live in a fire susceptible area, just did not want to lose my whole investment if we should have a fire. After the devastation in Paradise CA, I had to at least cover part of the value. Stuff happens as one Vintage Mustang Forum member in Colorado lost his home and project car to lightning that struck his home.

Robbin R Terry
POB 229
Auburn, IL 62615
www.midwestclassicins.com
Office - 217-438-6235
Fax – 217-438-3347
Hours 8:00am – 4:30pm CST Mon-Fri

[Itsallgood]

Spoke to Haggerty and they will not insure it. Hoping someone else has found a company to use for insurance in B.C. Canada Thanks again

[David Williamson]

I am in Alberta and BC insurance is different. I did not insure my Coupe build until it had a VIN then it was insured as a car like it was in storage. Before the VIN the house insurance said it was a car so they would not insure it and the car insurance said it is not a car until it has a VIN. I have since switched insurance companies to Intact and they could be different with the collector car side of their business.
Don't know how IBC works, you will have call and find out.
David W

[JohnK]

Look into "personal articles" policies. That may be another option for insuring it until it's a "car".

[Alan_C]

When looking for new homeowners and project car insurance last year, the discussions with agents showed that personal property insurance is good for no more than a few thousand dollars. It is intended more for tools and the like, not car parts. Auto and most collector car insurers will not insure until the car is at the 80% point, that is running and driving. I felt relieved when Robbin at MidWest Classics was able to provide about 2/3 coverage for my car and parts under construction.

[JohnK]

When looking for new homeowners and project car insurance last year, the discussions with agents showed that personal property insurance is good for no more than a few thousand dollars. It is intended more for tools and the like, not car parts.

There are stand-alone personal article policies that are separate from the personal articles coverage that is bundled in your homeowners policy. Those are intended specifically to cover high-value items like jewelry, art, high-value collections, etc. Whether or not such a policy would cover an in-process build would come down to the inclusions/exclusions in a specific carrier's policy.

[Mag]

Grundy insured mine while being built. Hagerty wouldn't.

[FF33rod]

Itsallgood
Had the same question some time ago since ICBC will only cover a finished car, one with a VIN.
It's strange that you couldn't get Hagerty Canada to do it. That is the route I was going BUT they also want your driving record and since I had an accident 3 years prior and a speeding ticket I wasn't a suitable customer :(
Intact wouldn't cover it under the house insurance either.
So in the end, I had no insurance on it....

Are you using a broker or calling as an individual? I had a broker working with Hagerty....
Sorry can't be more help. (Another local gent had the same problem with his build)

Steve

[FF33rod]

UPDATE: spoke to another buddy in White Rock who's building the roadster. His house insurance covers the full amount of auto parts under the house contents just as long as it's not a complete car. The insurance company is CHUBB,

Hope that helps a bit
Steve