Insuring a Factory Five

[rrisdon]

I tried to add my MK IV to our auto policy today and was told they don't do it and don't know who does. Does anyone have any suggestions on auto insurance for a Factory Five?

[Olli]

Vendor on this very forum..... http://www.midwestclassicins.com/

Olli

[Gumball]

It probably varies by state, but many main line insurers offer coverage. I have mine insured with State Farm here in Illinois - it's covered in a similar manner as any vintage car on an agreed-value basis and the premiums are very fair.

[Jeff Kleiner]

State Farm with an agreed value of $35K, same liability and medical coverage as all of our daily drivers, no usage or mileage limits for less than 300 bucks per year (it's our least expensive vehicle to insure).

Jeff

[billjr212]

I insured my 818 through NCM, also a vendor: http://thefactoryfiveforum.com/showthread.php?18681-New-Vendor!&highlight=national+corvette+museum

I believe I had used Midwest Classic back when I had my roadster.

Both good companies and both seem to receive positive comments here on the forum.

[GoDadGo]

Though I haven't insured mine yet because I'm at the Go-Kart stage, I have met with my State Farm Agent and he's ready to write a stated value policy one the car has been inspected and the title has been issued. Also, a friend of mine has his insured with Hagerty. Good Luck & Happy Motoring!

[Jeff Kleiner]

...I have met with my State Farm Agent and he's ready to write a stated value policy one the car has been inspected and the title has been issued...

Understand the difference between stated value versus agreed value and be sure you are getting what you really want. In a nutshell in the event of a total loss stated value will pay a depreciated amount while agreed value will pay the full mutually agreed upon amount that the policy was written for.

Jeff

[rmiller64]

Insured my MK IV this summer with MidWest Classics for Agreed value $35K while in Go Cart stage. Will call after final assy and increase to $45K. Robin is great to work with and I added my 1965 Mustang to the same policy and saved $ over the insurance company I had through Farmers.

[CraigS]

Check w/ you current guy. I had Allstate and they refused. I saw comments about State farm so visited. Offered all our cars and home owners. They said great, and then called the next day and said do to my FFR. oh well. I have been w/ Midwest for about 9 yrs and am very happy. He has two different companies he uses so there are some options in coverage.

[JIMOCO]

Robin at Midwest helped me greatly. I liked them because their mileage restrictions we more flexible. Haggerty's and Grundy's wanted to limit my driving to trips to and from shows. Midwest simply has a mileage limit. I also had them insure the roadster once go-karted and then increase the agreed value once I had a title and was street legal.

[Gmcole92]

USAA covered my fully...but they did mention that in some states they would only provide liability. Luckily for me, i'm in Virginia and got the same coverage as my other cars. I wouldn't say it was "cheap"...but I didn't fall off my chair then they told me my rate

[rwantin]

+1 and +2 on Midwest Classics. Very reasonable, plus they seem to understand the nature and use of these vehicles.

[Arvin]

I had mine with CHROME with agreed upon value. I then went to an independent agent and he got me with SAFECO with an agreed upon value for half the price of CHROME. I have $60,000 in coverage for $37/month.

[walt mckenna]

State Farm covered my Mark IV with same limits as my other vehicles along with agreed value and mileage restriction. The big plus for me is that they agreed to cover the vehicle while participating in HPDE.