Has anyone tried to insure their car yet? Any problems?

[indiana818]

I am ready to start my build and was thinking about insurance and the value of the car.
Any ideas?

[Erik W. Treves]

yep..USAA. did it over the phone. Will be swapping to State Farm and will do "stated value" or "declared value" policy like I do for my Cobra. Best recommendation is look over on the roaster forum..too easy

[Mechie3]

I can't remember which is which but stated value vs agreed upon value are different. One pays out the actual value of the car the other uses value to define premiums but allows the insurer to adjust the payout as they see fit according g to their calculations of worth.

[AZPete]

On the FFR Roadster forum Midwest Classic is a very popular insurer - http://www.midwestclassicins.com/
And, it's a forum vendor! I used them for my roadster but never smashed it so . . . it was money wasted, eh?
For more info, search insurance among the other FFR forums and you'll see lots.

[Jeff Kleiner]

I'm in Indiana also and have an agreed value policy for my roadster with State Farm as does the owner of another one I just built. No useage or mileage limitations. $30-$35K coverage runs <$500 annually. Let me know if you need title & registration information; we have it easy here in comparison to many other states.

Jeff

[metalmaker12]

Amica $700 a year for full coverage on 35k in R.I

[Mechie3]

http://www.grandsportregistry.com/CIL-0904_09-GrandSportRegistry-Stated_vs_Agreed_Value.pdf

There it is. Stated value is the one you don't want. Agreed value is the one you do want.

Jeff what coverage limits do you have? I have high limits on my other cars for medical/property ($500k) so even the insurance on my street cars is more than $500/yr, all worth less than $28k.

[Jeff Kleiner]

Craig,
Same limits as all of the daily drivers; $300K PD, $500K PI & medical, $250 deductable on collision and comp., uninsured motorist and towing. It is less expensive than any of our other vehicles (Ram 2500 4X4, Dakota 4X4 and Subie Forester) aside from the horse trailer.

BTW, I just checked the latest billing while getting the limitation info above and the 6 month premium is $178.

Jeff

[JeromeS13]

yep..USAA. did it over the phone. Will be swapping to State Farm and will do "stated value" or "declared value" policy like I do for my Cobra. Best recommendation is look over on the roaster forum..too easy

Erik, was this straight through USAA, or through their "collector car" insurance provider, American Collector's Insurance?

Thanks!

[Zodiac]

I've called a bunch of places myself and from what I found out since it's a kit car they limit your mileage to about 3,000-7,500 miles a year with agreed value depending on the insurance company. Anyone know of any decently priced companies to insure it for a daily driver with agreed value and hopefully less than $1,000 a year?

[Triathletedave]

Some of the Cobra owners I know use Aviva (or a subsidiary) to insure their kit cars. They seem to do a lot of kit cars, and they actually know what an Factory Five is, so that should help with the process.

[Goldwing]

I saw this thread looking for headlight info, and noticed my insurer isn't mentioned yet. I went through the National Corvette Museum in KY. The one that made the news with the sinkhole earlier this year. They seemed the most interested in the business of the several places I contacted. Stated value while under construction. Once complete, goes to agreed value with mileage tiers. (If I didn't get those two terms switched around, lol).

Found them in the GTM forum.