Insurance for Vehicle Under Construction

[Alan_C]

All the fires on the West Coast have been a concern and I want to get insurance on my build during construction. Anyone have good experience recently buying insurance for their build and parts? We have our DD and homeowners insurance through Farmers.



I contacted the agent for Midwest Classic Insurance who underwrites collector cars, but he is not listening and quoted me for a full insurance policy at $511 a year.



I also sent in a inquiry to Grundy Insurance as many have said their regular insurance rates have been reasonable.



Thanks

[GWL]

It should fit under your homeowners insurance. That is what USAA did, for me, for 10 years. Just contact your insurance agent and talk to them.

George

[FF33rod]

Try Hagerty, they insure under construction

Steve

[Papa]

ANPAC (American National Property And Casualty) covered me under construction with value based on invoices of parts. I don't recall the exact premium, but is was very reasonable. Most homeowner's policies will only cover up to a specific amount on contents without a rider. Check your policy! Mine was $500 for parts, just a bit shy of the $45K in parts sitting in my shop during the build.

[chmhasy]

Check with Robin at www.midwestclassicins.com

You also want insurance in the event that you friend get hurt while working on your car.

[JimLev]

Check with Robin at www.midwestclassicins.com

You also want insurance in the event that you friend get hurt while working on your car.

I spoke with Robin 2 months ago. They do offer insurance to cover the car while you are building it.

[Alan_C]

Check with Robin at www.midwestclassicins.com

You also want insurance in the event that you friend get hurt while working on your car.

I did as I noted in my post. His quote was as if the car was driveable, far too expensive.

[Alan_C]

I thought I would provide an update. In the end, Robbin at Midwest provided the insurance underwritten by American Collectors Insurance. Because the build is only 50% complete, I was offered coverage at $35K, not full value at $50K. I am OK with that, much better to be insured at 70% than nothing and take a complete loss. Along the way, I switched both my home and auto insurance to State Farm from Farmers which saved over $400 and with better coverage. With State Farm they have pretty good roadside assistance as part of the policy, so I am dropping AAA after 35 years of membership. Just can't justify an extra $130 a year for AAA. I will need to go out and get some kind of identity theft insurance, should not be very expensive.
For the Mustang project, the coverage is $201 a year. This is only for fire and theft. No collision, uninsured or underinsured motorist, etc. As the project progresses, the coverage amount can be increased. Once the car is running and driveable, I can add coverage for that as well.