Absolutely! If you have classic car insurance, you can usually add optional coverage for the duration of your restoration project. This type of coverage is designed specifically for project cars undergoing active restoration, something standard auto insurance typically doesn’t offer
How to Insure Your Restoration Vehicle or Project Car
To get coverage for your restoration vehicle, you’ll need a classic car insurance policy with optional restoration coverage. Standard policies generally don’t cover restoration. Classic car insurers offering this coverage typically require proof that your project is actively underway. Acceptable proof may include:
- Photos and videos of your restoration progress
- Receipts for parts and materials purchased
- Detailed descriptions of work completed
- Project plans and estimated timelines for completion
Progressive Classic Car by Hagerty refers to restoration coverage as “Vehicle Under Construction” (VUC) coverage. It’s temporary, and once your car is fully restored, you can remove this coverage.
Can You Increase the Limit on Restoration Insurance?
Yes! Restoration coverage often includes increasing limits because your car’s value rises as the restoration progresses. With VUC coverage through Hagerty, your limit can increase automatically by 10% every three months, up to $25,000. This eliminates the guesswork in accounting for the increased value of your classic car during restoration.
Keep in mind, insurers may have different policies on automatic limit increases or may require updates and documentation. Always check your policy’s terms.
Frame-Off vs. Frame-Up Restoration: Does It Affect Insurance?
Whether your restoration is a frame-off or frame-up doesn’t usually affect your ability to get coverage. What matters most to insurers is showing tangible progress over time. This demonstrates responsibility and that your car is a legitimate collector vehicle rather than a high-risk project.
Are Your Unique Parts and Tools Covered?
VUC coverage through Hagerty includes an automatic $750 increase in tool coverage with a $25 deductible. Optional add-ons allow coverage for automobilia and spare parts, even those not originally for your vehicle. Coverage options and limits vary, so check with your insurer.
