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Insurance cost and suggestions

Discussion in 'Terminator Talk' started by 96chargedcobra, Apr 1, 2019.

  1. 96chargedcobra

    96chargedcobra Member Established Member

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    Gentlemen!

    I will finally be back in a 03 cobra next weekend. What are you paying for insurance? I have zero tickets and the monthly seems a little bit high for the year of car. Do you recommend adding additional insurance?
     
  2. zcs626

    zcs626 Member Established Member

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    TK1299, Jameeson and Bdubbs like this.
  3. roy_1031

    roy_1031 roy1031 Established Member

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    Insurance companies won’t give you very much money for it in the event of a total loss. I’d look into a collector car policy or if it’s going to be your daily, see if your insurance offers an agreed upon value. I have a collector policy on my new cobra and it will be a nice payday if mine ever goes away tragically. I learned the hard way when insurance gave me $12k for my old 30k mile clean clean CLEAN cobra.


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  4. 96chargedcobra

    96chargedcobra Member Established Member

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    It will be a weekend car. It will not be my daily.
     
  5. 96chargedcobra

    96chargedcobra Member Established Member

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    They based that on book not the actual market?
     
  6. roy_1031

    roy_1031 roy1031 Established Member

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    I asked them to see how they’re getting that number and they sent me their clapped out comps with all of them being over 130k miles and just rode hard and put away wet. Because mine had lower miles and was clean, they raised my cars value by a whopping $1500 bucks valuing it at $13,500. They wouldn’t accept any comps outside of 100 miles of my zip either. It was an all around bad deal for me.


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  7. Adamn

    Adamn Active Member Established Member

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    I just got a quote from Grundy and they were the same price for a year of coverage as what I am currently paying for 6 months. They just asked what I wanted it valued at and gave me the quote.
    It would cost me $200 more per year with my current insurance company to have an agreed value. I’ll be switching.
     
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  8. BlckBox04

    BlckBox04 I am the liquor Premium Member Established Member

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    Definitely get collectors insurance. I have American Collectors, they're based out of my state that's how I found them.
     
  9. Jameeson

    Jameeson in the garage, stealing your e85 Premium Member Established Member

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    Collector car here too - Hagerty
    I believe I pay 75bucks/month.
    Has to be garaged and you need a daily
     
  10. TK1299

    TK1299 meh Premium Member Established Member

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    I just switched both my Cobra’s to Hagerty. Saved a bit and the restrictions aren’t an issue because of the little amount I drive them
     
  11. ccq8le

    ccq8le Well-Known Member Established Member Malt Liquor Mafia Party Liquor Posse

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    Hagerty for me also.

    While on the topic..... Anyone who has both a Vert as well as a coupe.... Is there a price difference? I have always wondered if the Vert's cost more???
     
  12. 2veloce2003

    2veloce2003 Member Established Member

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    Agreed value is the only way to protect your investment. Collector car insurance companies understand this valuation. Also a reputable appraiser of collector cars is an additional safeguard.


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  13. zcs626

    zcs626 Member Established Member

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  14. 04torchred

    04torchred Well-Known Member Established Member

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    How did you swing it with Hagerty? I noticed this on their website.

    Vehicles that we may not protect

    Offering affordable, tailored insurance with Agreed Value coverage means there are some vehicles that don’t qualify, including:


    • Daily-use vehicles
    • Camping, off-road, or utility-type vehicles
    • Late-model vehicles that have been highly customized for looks or performance (commonly referred to as “tuners”)
    • Vehicles that are highly customized for appearance and suspension (commonly referred to as "lowriders")
    • Commercial-use vehicles
    • Motorcycles or scooters
    • Replicas of the 1963-67 Shelby Cobra
    • Vehicles that are used for racing, timed events, autocross or driver's education
    • Vehicles modified with features such as a roll cage, wheelie casters, parachutes, nitrous components or modifications that permanently remove the roof and/or doors
    • Vehicles with 700 hp or greater (manufactured or modified)
    • Right-hand drive vehicles newer than 25 years, specifically those imported from Japan such as a Nissan Skyline, Toyota Supra or Toyota Land Cruiser
    • Dune buggies
    • Motorhomes or recreational vehicles
     
  15. Dusten

    Dusten Well-Known Member Established Member

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    Understand that if you race it, its not covered.

    They didn't ask me hp.
     
  16. Jameeson

    Jameeson in the garage, stealing your e85 Premium Member Established Member

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    Had to tailor what I am doing with car to meet the policy.
    They don't want to hear it may be used as a backup vehicle. More for cruises/shows/occasional drive

    Unless you buy track insurance I don't think anything will cover you. If i am racing the car and total it, it will be my problem

    Also thank you for sending - did not see that about a roll cage and good to know, that is really my next step with the car I was planning
     
  17. Comp04svt

    Comp04svt Active Member Established Member

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    I have Hagerty now, and in a month I'll most likely switch over to Grundy. Grundy is half what Hagerty is. Same coverage, same $30k agreed value, same stipulations as any collector insurance. Only difference being that I've found is Hagery has their own road side assistance program, and Grundy's is a reimbursement type deal.
     
  18. mschmidty

    mschmidty Member Established Member

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    I just switched to Grundy.

    $850/yr (no monthly pay option fyi)

    $45k agreed value. Has to be parked in your garage & not a daily driver.

    It is insured as a high performance/hp vehicle
     
  19. 98 svt

    98 svt Premium Member Premium Member Established Member

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    Is Grundy the one that only covers you if you are on your way to/from a car show etc.
    No coverage if hit in a parking lot etc?
     
  20. ZEN357

    ZEN357 Active Member Established Member

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    I was with Motorist Mutual out of Columbus and switched to All State. I saved over $200 a month with the same coverage.
     

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