Insurance question and more

Steve Ard · 08-29-05, 03:08 PM

I am looking into insurance for a GT and was wondering if any of you have found any companies that either specialize in this type of car or have any helpful hints when talking to your current company.

Also where would I go to find what production number car the factory would have preformed the recall upgrades during the build process. The dealer I am talking to is short on knowledge of the car and long on blank stares.
Also is leather an option? I have been told both yes and no from the same dealer.
Thanks in advance, Steve

Iron Sheik · 08-29-05, 04:02 PM

I use Farmers for both my Cobra and GT40. Very reasonable prices, assuming you are not 19, with 3 DUIs.

Alex Hirsbrunner · 08-29-05, 05:33 PM

Hi Steve,

Even though this is a "new" car, you may want to contact Grundy regarding an agreed value policy (actually you can get an immediate quote on their website: www.grundy.com). I did this recently with a "new" hobby car we bought, a 2004 Mach 1, and it did save me quite a bit of money over State Farm. You cannot however, drive it to work every single day (although there is unlimited milage).

The only thing to note is if you carry an umbrella personal liability policy, some insurers will charge an additional fee for cars you own that they don't directly insure. Even so, it was still cheaper than insuring with State Farm. Let's hope the service is equally good if it is ever required!

Sorry, can't help with the "more" part.

Regards,

Al

tdm434m · 08-29-05, 06:59 PM

Grundy charges me $3500 per year. I have one out of state speeding ticket 2 years old, Wayne

Tim Kay · 08-29-05, 07:51 PM

RWJ, That sure seems high [img]/ubbthreads/images/graemlins/crazy.gif[/img] Is that due to the one ticket?

I have Farmers at limited 5,000 annual miles. $85,000 value. Approx $800 per year.

Steve Ard · 08-29-05, 08:11 PM

Thanks for the replys.
Are these #'s for a GT40 replica or a Ford GT?

Alex Hirsbrunner · 08-29-05, 09:44 PM

Hi Steve,

When I first got my policy with Grundy they required a clean record, no under 25 drivers and proof that you have secure indoor storage for the vehicle(s). If you met these qualifications then your agreed value policy with Grundy was a flat rate per $ insured (for collector vehicles).

I have my current "hobby" cars insured for a little over $50,000 agreed value total and pay under $600 (collision and $300K liability) per year total.

I recently contacted Grundy regarding my RF 40 and can expect to pay an additional $850 per year for it once it arrives. My Grundy policy is underwritten by Chubb Group.

Best Regards,

Al H.

Alex Hirsbrunner · 08-29-05, 09:47 PM

With respect to RWJ's costs, I know that my brother in FL pays way more for all forms of insurance (in some cases 3-4x) for the same insurance product/value than I do in Illinois. It's the dang hurricanes and retired drivers :-)

Al H.

Howard Jones · 08-29-05, 10:20 PM

I have a agreed value with Farmers for my GT40. 50K aprox $475 year. House, life, 2 other cars.

Tim Kay · 08-30-05, 12:20 PM

My cost is for a replica.

427Aggie · 08-31-05, 02:45 PM

Steve is not asking about a replica guys. Remeber you are in the New GT forum.

I called my agent and got a quote of $1800 every six months. Thats a clean record but higher than normal coverage for most people.

Matt

Steve Ard · 08-31-05, 04:34 PM

Thanks for the replys guys.
After a bit of checking I got what I think is a great deal on both the car and insurance (State Farm).
Also it looks like all the factory upgrades were implemented at car #448. The car I bought is car #448. As far as I can tell the suspension was changed out but done at the factory.
Steve

RaceDeck · 08-31-05, 04:52 PM

I won several cars and due to the low milage each year, you can get "show car" or exhibition catagory on your car.
Anything under 5k a year qualifies the car....I think I pay $600 a year

RaceDeck · 08-31-05, 04:53 PM

oops! I wish I "WON" several cars....I meant to say I OWN several cars

427Aggie · 08-31-05, 08:46 PM

Jorgen and Steve,

I am curious Jorgen what you limitations are with the exhibition status? What limites does the insurance carrier place on you?

Steve if you don't mind me asking what did State Farm quote? I know I got an online quote from Grundy of $2400/yr but both my state farm and grundy quotes are for
500/500/500 coverage as with all my vehicles.

Matt

Steve Ard · 09-01-05, 02:21 PM

Aggie

I am with Mercury and my limitations are 250/500. They don't want to write cars for that list for more than $100,000, so my quote was for $14,000 per year (enough to not buy the car). Kinda saying no without saying no.
I got a few pm's to try State Farm. They were $450 per year higher overall on my other cars, HOWEVER the are only $1370per year additional to add the GT.

Hope this helps. Steve

jam275 · 09-06-05, 08:22 PM

Hi Steve,

I'm in the market for a GT as well. I got a quote from State Farm for 250/500/100 coverage at around $1020 every 6 months. I'm single, 39 years old, with a clean driving record. I have my home and 2 other cars insured with them. I didn't ask for "show car" status. I"m going to buy the car to drive it!

As far as the recall cars are concerned, I think that recall date was December 20th of 2004. Based on serial numbers and production dates that are sometimes featured in ads for the cars, it looks like they were roughly on car 450 at the time. I think if you look for cars made in January or later, or with a serial number past 500 (i.e. VIN past XXXXXXXXXXX400500) you should be okay. I would be happy to hear if anyone has more accurate info.

As far as the seats are concerned, I think that leather is the standard and only option. The brochure from Ford indicates that the seats are leather as does the Ford website. It doesn't look like a normal leather seat because of the perforations (a tribute to the original).

John

BONY · 09-08-05, 08:55 AM

Got mine from GRUNDY... HAVE BEEN WITH THEM FOR YEARS, NO CLAIMS. ALSO CLEAN DRIVING RECORD, WITH NO ACCIDENTS. AGREED VALUE $182,000 = $1020 PER YEAR, NO LIMITATIONS EXCEPT BEING IN A LOCKED GARAGE AND 300/600 COVERAGE.

mikes69z · 09-09-05, 12:51 PM

Geez! I only pay $200 a year for my '69 Z/28 which is agreed value at $45K and $500K liability. I have a mileage limit of 3K a year, but for me thats not a problem. My policy is with American Collectors. You guys might want to try calling them.

MB

Steve Ard · 09-09-05, 09:34 PM

Mike, both State Farm and Hagerity are at the $200 mark for my 68GTO convert. The FORD GT is a different animal as far as insurance co. feel.