Insurance?
#1
Elite Member
Thread Starter
iTrader: (11)
Join Date: Feb 2006
Location: Louisiana
Posts: 1,651
Total Cats: 39
Insurance?
I'm sure I'm not alone on this site in that my car is heavily underinsured for it's current state. That frankly scares the hell out of me. If I walked outside only to find an empty space where my car was the night prior, I would be out thousands.
I have no illusions of the car being a classic or a collector, but I'm looking into the possibility of finding an insurance company that will insure the car according to an "agreed value".
How do you guys have your cars insured? Any suggestions?
-Trent
I have no illusions of the car being a classic or a collector, but I'm looking into the possibility of finding an insurance company that will insure the car according to an "agreed value".
How do you guys have your cars insured? Any suggestions?
-Trent
#2
Tour de Franzia
iTrader: (6)
Join Date: Jun 2006
Location: Republic of Dallas
Posts: 29,085
Total Cats: 375
I had to get standard comprehensive coverage through state-farm, then another "racecar insurance company" covers the real replacement value, backed by receipts, for the, fire, and acts of god.
#3
Check your local phone book or internet search for collector car insurance. I have my 91 BRG insured that way. It is insured for an agreed upon value, mine is $10,000. Their are a few limitations. The car can't be your daily driver, usually restricted to 5k to 6k miles per year. You have to prove that it is kept in a locked garage and send them pics of the car from several different angles. The cost is cheaper than regular ins. Mine is $350 a year full coverage W/towing.
#8
Supporting Vendor
iTrader: (33)
Join Date: Jul 2006
Location: atlanta-ish
Posts: 12,659
Total Cats: 134
What you want is agreed upon value insurance, also called stated value. Daily driver or spare car? If DD, your choices become more limited and expensive. If spare car, call Sneed. They will have you fill out an application and send pictures. They will ask for a list of modifications. Since you have a rollbar, clearly state that it is a bolt-in bar for cosmetics, not a permanently attached roll cage.
If memory serves, my Sneed policy has an agreed value of $14K, which is about double the protection I had through my previous insurer Allstate. And the kicker is it runs about $350/yr less for the same limits. The deductibles are about the same.
If memory serves, my Sneed policy has an agreed value of $14K, which is about double the protection I had through my previous insurer Allstate. And the kicker is it runs about $350/yr less for the same limits. The deductibles are about the same.
#10
Elite Member
Thread Starter
iTrader: (11)
Join Date: Feb 2006
Location: Louisiana
Posts: 1,651
Total Cats: 39
I'm terrified of a car fire, which would be a full loss situation. Also, theft is a real concern in this neck of the woods, not so much for chop shops but for joyriders.
The car is a weekend toy, and has maybe had 1000 miles put on it all year. I will look into Sneed. Thanks for the suggestion.
The car is a weekend toy, and has maybe had 1000 miles put on it all year. I will look into Sneed. Thanks for the suggestion.
#16
Frank
#19
Supporting Vendor
iTrader: (33)
Join Date: Jul 2006
Location: atlanta-ish
Posts: 12,659
Total Cats: 134
Sneed will not insure a car with a permanently installed roll bar or cage. If you have a standard HD/AutoPower/BF bar, clearly state it as bolt in and removable in your declarations or modifications. If you have a welded in bar or cage, Sneed will not insure you.
I have a standard HardDog HardCore. Sneed's underwriters were given a description of my car as such, as well as pictures, and signed off on my policy.