Insurance for an untitled build

[Cincy123]

I was curious how folks are insuring their car during the build. State Farm will not cover the loss of an untitled car. Perhaps a homeowners policy may cover, however my situation is I’m renting a large garage for my coupe build. Love to hear how people are addressing this issue. Thanks

[JohnK]

As you said, if it was at home it would potentially be covered by a homeowners policy. If you're renting a space, consider either taking out renters insurance or a personal articles policy to cover it until it's titled.

[Chopper]

You may want to give Robbin Terry a call at Midwest Classic Insurance and discuss the options. He helped me out when I built my kit and continues to make sure we get a very good policy deal for the car on the road.

[Alan_C]

Do not be fooled, homeowners insurance will not cover a vehicle. It is intended for personal property and has low limits of coverage on the order of $5K. As mentioned in post 3, I used Robbin Terry at Midwest to insure my MK4 and current build during construction. My policy for my current project during construction is underwritten by American Collectors Insurance. Robbin is a broker and he will get you insurance appropriate for your State.
I had to add a rider to my State Farm insurance to better address the value of my tools. I have a title on my current project vehicle but State Farm would not insure it during construction as they require the vehicle to be 80% complete, running, and driving. I have $35K coverage currently as that was the highest coverage Robbin was able to underwrite at the time. Once the car is running and driving, I will then go back to Robbin and State Farm and try to get agreed value much closer to the value of the car and components.
Your thinking about getting insurance during the build is a wise move because stuff happens. A member of the Vintage Mustang Forum from Colorado lost his home and nearly complete Boss 302 Mustang tribute due to a lightning strike a few years ago. All the wild fires that have occurred out West was one of the biggest factors in my seeking out insurance.

[Skuzzy]

Never assume anything is covered by any insurance policy. Always check.

In my case, I etched a unique identifier, in every tool I have and submitted pictures to the insurance company, before they would cover all my tools. Talk about eye opening. It surprised me to find out what it would cost to replace every tool in my garage.

For the kit, I provided a copy of the paid bill along with pictures of the kit in my garage.

Every insurance company is different, if they will cover it at all.

[Kbl7td]

American collectors. They’ll insure before it is finished.

[FF33rod]

Most homeowner policies have very limited coverage of "parts" - in my case it was 5K. Check with the company. However, Hagerty will cover a car/parts in the build stage. They ask for pics to show it's an actual car and it's making progress to completion as they won't insure just parts....

Steve

[Jim1855]

The Haggerty team at London indicated that they have build insurance. I need to call them.

Jim

[niceguy]

Call Robbin Terry a call at Midwest Classic Insurance. I'm in the process of building a 1939 Ford pickup not title yet he's insuring doing the build process. As the build progresses and I'm buying parts I have ask twice for increase insurance. Need to send him pictures and invoices.

Robin great to work with, he has insured my Cobra since 2011.

[Papa]

I was able to get "Build In Progress" insurance that covered my build for kit/assembly/part invoice value. Any time I added a significant purchase (engine, etc.), I just had to send the invoice and up the coverage. As others have said, your homeowner policy may only cover "parts" for up to a maximum amount that will likely be way less than what you have spent on them. Another often unknown "feature" of most insurance providers is what is known as the "Common Cause of Loss" situation. Say your house burns down and your cars are in the garage. Your homeowner policy will cover the home, and your auto policy will cover the cars. If they are insured by the same company, you will likely only have to pay one deductible since the cause of the loss was common to both policies.