Who do you guys (in the US) insure your cars with?

NASA racer · 01-09-03, 03:18 PM

Is Grundy the best source or are there others for insuring a GT40 replica?

vic mastrorocco · 01-09-03, 10:07 PM

try giving Dave a call at www. parishinsurance.com they have insured both gt40's I've owned. You'll need pictures of all sides, must be garaged,no under 26 ears old driving and usally a 3000 mile per year cap.

chip · 01-10-03, 12:38 AM

I have had my Unique Cobra Replica with Parish-Heacox a9see above) since I purchased it in march of 2001, I met them at the Amelia Island FL Concours the a few weeks before the car was found and bought. They have been good with the above restrictions. The Cobra rep owners have just received a notice that premiums are going up 80% ($400 yr at present) at renewal time because of all the accidents that Cobra owners have (I've heard 50% of new owners have an accident in the first year of ownership!) Middle age guys with no high performance experience in a quirky car with more horsepower than they were ever designed for (Built, bored, stroked 427so with dual quads)

I will be insuring my GT40 with them whe it is delivered in March.

What is everyone paying?

NASA racer · 01-10-03, 02:26 PM

Thanks...those are some pretty harsh requirements, I was hoping to use the car for more than 3000 miles a year.

The point of having a REPLICA IMHO is that you can go out and enjoy driving it any time you want without worrying about it's "value".

Any other suggestions? TIA.

Bill Bayard · 01-10-03, 05:16 PM

My policy allows unlimited mileage, however, I am not permitted to leave the car unattended, and it must be garage kept. Any high/unlimited mileage policy isn't going to be cheap! Mine includes replacement value as of 2002,$300,000 liability, at $943/yr, through Chubb Group, of Warren, N.J.
Chubb writes policies for many antiques, as well as replicas.
Your local agent should be able to shop for
rates. Make him earn his commission!

chip · 01-10-03, 08:25 PM

Also note that Parish-Heacox requires that the car be driving to/from an event (show, parade) or a cruise/fun ride. NOT to be used as a commuter or as a "back up" car whlie another is in for work, and my policy states a nmax of 2300 miles a year.

Other Cobra rep ownwes have used State Farm et al for less annual $$ and restrictions. Check (sorry Ron) Club Cobra and do a search. LOTS of info on this subject there. Cobras have been partic hard hit because of their accident record. Some insurance will not accept you unless you have owned your Cobra for 2 years or more w/o an accident or claim (from memory). GT40s coverage should not be as tough.

vic mastrorocco · 01-11-03, 12:18 AM

I pay about $700.00 anually for a stated replacment value of $80,000.00. Keep in mind, a clean record, and no clams, helps keep premiums down. Also alot depends on insured location.

meat · 01-11-03, 09:58 AM

<BLOCKQUOTE><font size="1" face="Verdana, Helvetica, sans-serif">quote:</font><HR>Originally posted by chip:
"...I've heard 50% of new owners have an accident in the first year of ownership..."<HR></BLOCKQUOTE>

That's not true. If it were, there wouldn't be any Cobras on the road, rather than the 60,000 that there are.

Your pal,
Meat.

Steve Toner · 01-11-03, 12:33 PM

A lot of insurers are limiting maximum value on Cobra replicas to somewhere in the range of $25,000 because of all the claims. Hopefully, GT40 replicas will not suffer this same fate

I tried to get a quote from Motorsports Insurance Services for my GT40, and they declined because I said that I intended to use the car for occasional track days, even though I said I did not expect them to cover any damage that occurred on the track. You'd think from looking at their website that they wouldn't have a problem with it. Also, they had never heard of NASA.

chip · 01-12-03, 07:05 PM

AND how about insurance while you are building your car? Thoughts/insigts on this?

Brian · 01-12-03, 10:09 PM

Chip, Homeowners insurance covers the parts until it gets a title and becomes a motor vehicle. Mine is considered "excess personal property".

Brian

Mike Dozier · 01-12-03, 10:49 PM

Believe this was a prior thread.
99% sure you have to get a seperate rider
written to cover the parts value.

MikeD

chip · 01-14-03, 06:34 PM

Meat: Do you REALLY believe there 60,000 Cobra Replicas out there?

Steve Toner · 07-16-03, 04:01 PM

I just called Parish Heacock Insurance to find if the quote that I got from David Parish last October was still good. They told me that David Parish is no longer with the company and that they no longer insure kit cars.

They referred me to the following companies:
Condon & Skelly 1-800-257-9496
Grundy 1-800-338-4005

Grundy was mentioned above, but I'm not sure I've heard of C&S. I do have a good quote from the local ANPAC insurance agent, and I'll probably go with them.

Does anybody know what the deal is with David Parish? Is he still out there somewhere with a different company or something?

buddaben · 07-16-03, 05:45 PM

I've got my home and 4 cars with ANPAC and they're GREAT. At the end of three years, if you're claim free. they give you a check for one fourth of all the premiums paid durimg the preceedig three years. AND their rates beat Farmers

Ben

Howard Jones · 07-16-03, 09:27 PM

You must check with you agent about "under construction" status. My homeowners policy, Farmers, will not cover any parts of a motor vehicle that are attached to a car, incomplete, inop, running or,otherwise.You should have a stand alone writer to the policy covering the parts/kit until it is complete and you have the registration complete. If you have a motor sitting on the floor and it gets ripped off it would be covered. But if it is in the car it is not. By the way I pay $193 every 6 mos for 50K value, 1000 deductable. This is what it would cost me to start over again. I have not put a value on my labor. How about you guys out there how much do you pay? How much coverage?

buddaben · 07-17-03, 10:46 AM

THat's anothe thing I like about ANPAC. My GT was insured from the day I got the kit until it was completed During the construction phase the cost was extremely reasonable as the car obviously wasn't being driven. Coveragw started at $55,000 when I began to $104,500 for the completed 40.

Ben

Here's a recent pix of car.

gt40rick · 07-18-03, 06:29 AM

Mine is with State Farm. They will insure a replica with stated vale, only conditions are a 7,500 mi/year limit and the car must be in a locked garage. I am allowed to drive anwhere except that while I am driving on the track my coverage stops until I come off of the track. My GT40 is insured for $125,000 at a cost of $900/year.

Pete. · 07-18-03, 07:18 AM

This is interesting but is not relevant to Australia. C'mon
Aussies who are the good guy to insure with in OZ? [img]/ubbthreads/images/graemlins/cool.gif[/img]