Insuring a Replica during build - USA

[Randy V]

Hi Guys,

So of those of you in the USA that have your builds insured - please let me know who you are using...

I'm primarily interested in those like me who have not finished their cars and have not yet registered them...

Right now, mine is insured on my Homeowners policy as a collection of parts - since my agent can't seem to find anyone that will insure it without it being registered with a VIN.

Thanks fellas...

 

[Chris Kouba]

Hey Randy,

ANPAC was the only company I found that was willing to cover during the build. Agreed upon value, reasonable costs. If I ever get done, it seemed pretty reasonable to turn liability on as well.

The down side (if you had to find one) is that they wanted all my coverage. For me, being new to town and not having built a relationship with any particular agent, this didn't pose much of an issue. If your agent is a long standing friend or whatever, this might be a bummer.

anpac.com

Find a local agent and ask about their Chrome coverage. I think that's what I have.

 

[John]

Randy,

Hagerty Insurance Agency (800-922-4050) insured mine during the build - I could later add additional coverage.

Good luck on your build!

John

:stunned:

 

[Randy V]

Thanks guys - I'll check them out...

 

[Lloyd]

Good luck on this one. Homeowners would not cover car parts over $500. Every insurance company wouldn't insure it until it was drivable/registerable car. Until its drivable its car parts. Hagerty was the only company that would insure at 80% complete. They want pics to prove it. Once i got the motor in and the wheels on it satisfied them

LLoyd

LLoyd

 

[Bill Musarra]

Randy,
I think you will run into that problem with most. I am going to use Heacock Classic now that mine is almost ready to drive. They only want you to establish the VALUE of the car. The premiums are all based on that. I originally wanted it set at $80K. When I got the quote, we renegotiated , and I settled on $60k. The premium includes a $1000 deductible. Liability and uninsured motorist at $300k. Mileage is 3000 yearly. They threw in a $500 coverage for lost or stolen replacement parts. They also wanted pics as well. If you are near completion, give them a call. (800)678-5173 Classic Car Insurance - Heacock Classic

Bill

 

[Rob]

Randy,
I did the same. Home owners..."antique parts collection" (check your policy for coverage limit), then Haggerty once it looked like a car.

 

[Randy V]

Hi Guys,

Yeah - I have a special "Rider" on my homeowner's policy right now that cover my collection of parts. I'm going to make some calls tomorrow and see if I can't figure out something else..
My agent found one company (J.C. Taylor) that will insure it but they want to do a Full-Coverage policy for a 50k stated value for $1,100 per year. That's too much.
My American Collector's insurance on my 1969 Camaro-SS is only $220 a year for full coverage and a 35k stated value. American Collectors, however, won't bind coverage until it's "a registered car" rather than a collection of parts that may look like a car.. ((sigh))

 

[Bill Musarra]

Forgot to mention it in my last post. The company that Heacock uses is American Modern Insurance Company (Rated A+)

Bill

 

[Dutton]

Guys,

This is such a worthwhile thread for builders, I thought it worth dusting off with a quick update.

After being assured that our almost-finished RCR40 was covered by our homeowners coverage, I received a call this morning informing me that the company representative was incorrect... and that our 40 was no longer covered. Gosh, that's good news.

What really complicated things is a lack of VIN which, in the State of Washington, isn't issued until the car successfully passes vehicle inspection. For nearly all insurance companies, this is a deal breaker.

Well, I was darn glad that what's left of my memory recalled this thread. After a quick review, I had phone numbers in hand - thanks to everyone who contributed.

I contacted Heacock and Hagerty, explaining that we needed only Comprehensive coverage (fire n theft) UNTIL the last few details are complete ,which should be in the next two weeks or so. I'm not driving the car so no need for collision or liability. Yet :thumbsup:

Heacock quoted $1050 annually, Haggerty $655.

Interestingly, American Modern offered us complete coverage with $100K stated value for $675. Go figure.

 

[Rod]

State Farm added my Kirkham Cobra before it was finished and registered. They gave me a separate auto policy for it. However, I was an existing customer with home and several other autos insured with them.

 

[Jack]

Grundy indicated that they would insure mine after the engine was installed.

 

[ken1939]

Grundy is good. Most of those mentioned with acception of State Farm get "it". State farm would not insure my 39 Chevy Coupe for more than what I had paid for it, which was real low at the time.

The vin thing isnt super hard. I have been on a few other message boards, and in dealing with pre 30's cars the same issue comes up. We have a leg up with this type of kit car though. Lots of states, even the commonwealt of PA, has guidelines for kit cars, and getting a nice legal vin. I know on the PA one, it refers to the vin of the kit car. I know some of the glass body mfgs, like Downs, do have a body id number installed on them. They also have situations where they issue a rebuilt vin and special plate.

Work with your notary or registration expert and it should be good.

The Boyds of the world did make it hard for most of us honest folk, so anytime most state dmvs see a specialty car, they want to ensure they get their tax money.

 

[Jack]

I have 4 vehicles insured with State Farm. I was told the limit for insuring a kit car was a value less than 30K or they would not insure it. Cost was still more than Grundy.

 

[Dave Lindemann]

Typically, when a car is a pile of bits it is covered under your homeowners insurance - just make sure you have an adequate contents limit. "Most" insurance companies will not insure a car under an auto policy if it is in pieces/not registered. If they do be sure you are comfortabe with how it is being valued A completed car may require an appraisal to ensure that it is adequately covered. Some companies will accept receipts to determine a value but if you are building the car yourself that will not include your labor and it will likely end up being under insured.

Regards,
Dave L

 

[Dutton]

Typically is the key word, Dave. Like jewelry, quality art or good wine, you're well advised to confirm your coverage... and get it in writing!

Typically, when a car is a pile of bits it is covered under your homeowners insurance - just make sure you have an adequate contents limit. "Most" insurance companies will not insure a car under an auto policy if it is in pieces/not registered. If they do be sure you are comfortabe with how it is being valued A completed car may require an appraisal to ensure that it is adequately covered. Some companies will accept receipts to determine a value but if you are building the car yourself that will not include your labor and it will likely end up being under insured.

Regards,
Dave L

 

[Allen English]

FYI - Just be sure to have your pride and joy appraised every couple of years if you don't want any problems with your insurance if the unthinkable happens.

 

[Al Jones]

I insured my car (before it arrives) on my regular auto policy . They allow me to put liabilty only on it so I can register it.With multiple car discount it's about $120/6 mos. but hopefully will cost 0 as I will drop that upon registering the car which should occur before he payment is due. As soon as that's done I can go through the same company to their classic car insurance for comprehensive. They use Americam Modern. In the state of Connecticut,they won't put comp on till it has a VIN issued by DMV. ALL cars in CT are 'composites' if they don't have the federally licensed VIN. If anyone else has had a different experience in this state,please correct me. All the info I can gather is helpful.

 

[Aaron H.]

Mine is insured through American Family Insurance Co. for the appraised value for fire and theft. The quoted rate for full coverage once it's on the road was much lower than Haggerty or Grundy.

 

[Paul fortin]

I had to put my GT40 in my company fleet insurance put it in for replacement cost of $95,000 Chubb would not insure my 69 mustang is with Chubb for $65,000 replacement . I pay reg rates but can drive it as mush as I want and leave it in a parking lot. Those classic car insurance have too many rules .