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Insurance during restore

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R

RestoreThemAll

Jedi Warrior
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Hi guys,
We're reviewing our home owners insurance, as we should do more often. We live in NY. My BJ7 is about 1/2 restored, not assembled. As I understand it my home owners insurance won't cover it in the event of a fire. Much if it is restored or new so I have over $30K in it (not including labor :G). Does anyone buy insurance for their "car parts" during the years of restoration? Should I insure it or just worry a little? What's it worth, new but completely disassembled? Use local insurance, or antique car specialist? Is there anything else in the risk area that i should be considering?

Dale
 
Dale,
You could give Grundy or Hagerty a call and inquire about the needed stage of completion. I can't see why they wouldn't want to take your money at an agreed on value and at a reduced risk to them since there is no chance of collision. You would probably have to produce pictures of the car and parts but it's worth a shot. All they can say is yes or no.

Bob
 
Most insurer's offer classic car insurance for cars under restoration.
It's not expensive and well worth the time. Ask about theft also, and or weather damage. They probably won't cover damage from rodents though.
 
I would recommend coverage during restoration. I have has good luck with State Farm. My car has FULL coverage at $296/yr, car valued at $75k.

I do have all other ins with State Farm: home, 3 other cars, etc...

Anything can happen during restoration period, so get it, or keep it insured.

Bob
 
Decades ago I got a quick lesson in insurance when persons unknown took a transmission out of my garage. Turns out it wasn't covered under the house policy and I didn't have insurance on the car it was for (since it was "just being worked on and not driven"). So, talk to an insurer and get coverage. That way you're covered for theft, earthquakes, volcanos, fire, etc. You're on your own for The Prince of Darkness.

Doug
 
Thanks guys! I'm on it first thing Monday. I'll get the car and all parts insured and ask about a few other things like tools and other toys.
Dale
 
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