Insuranced for an RCR

[domtoni]

Guys,

Am I smoking something for an insurance quote of almost $1000 for an RCR for 6 months? Is this typical or what?

I live in sunny England, but the car would stay in the states, and driven only there.

Another outfit would not insure me because I don't have a daily driver less than 3 years old.

THanks
Dom

[Eric Johnson]

Dom,

I was quoted $1400 for a 12 month 100,000 policy provided by Hagerty Insurance.I live in NY

Eric

[Fran Hall RCR]

Dominic.

I am sure it depends on many factors much like insurance for any expensive high end car...

I use Hagerty for all my personal toy cars

[Gregg]

Dom, it is going to be difficult for someone to give you an accurate answer. Insurance quotes are based on a lot of factors, including but not limited to value of car, your age, your driving record, your location - down to the city. I hope this helps a little.

Edit: I see Fran has beat me to the punch.

[domtoni]

Guys,

Thanks. Haggerty, as Fran suggested, basically blew me off. State Farm was the one who gave me the quote. But if Gregg got $1400 for a one year policy, and 100K miles, then State Farm's quote was not bad.

Haggerty told me I have to have a car less than 3 years old, insured by any other provider, so that I will not be tempted to use the car for business.

Well, if I live in sunny England, and visit the states where the car would be kept, I guess that makes my U.S. visit all pleasure? I normally rent a small you know what box for daily driving. I would not be tempted to use an RCR for daily transport.

Thanks
Dom

[Alex Hirsbrunner]

Hi Dom,

You could give Grundy Worldwide a try. They insure three of my "fun" cars, one of which is an RCR (but that is for comprehensive only since it's not yet finished).

Note that the premium (with Grundy) is based purely on the agreed value of the car, not what kind of car it is. But I do have to prove/agree that:

1. I own other vehicles that are used for daily driving (but nothing I see about where the daily drivers are located).

2. The vehicles are securely stored inside.

3. No family members under 25 are allowed to drive the vehicles.

Based on my policy, the rate works out to around 600-700USD/year per $100,000 value.

One thing about State Farm that other folks may not be aware of (they insure my daily drivers) - if you have an umbrella liability policy with State Farm, they bump up the premium for your umbrella policy significantly for every car you own that is not insured with them. This includes my RCR which is up on jack stands and represents very little liability, unless it falls on a visitor .

Best Regards,

Al

[Howard Jones]

Believe it or not Farmers will cover a "hotrod" here in the states. I would sugest that you get a US drivers liscence in the state the car will be kept in as soon as possible.

My GT40 is in Northern California. I have it with them for a stated value of $50K and I am at about $400 per year. I must garage it overnight, I am the only person who can drive it, and I am limited to 5K miles per year.

I'm 50ish, clean record, and multi-car/home/life/personal liability policy. Most of the discounts come off the home portion of the policy.

Hard to beat. The rest of the premiums are competitive with other providers, + - 5% or so.

No...I don't sell insurance.

[CliffBeer]

Dominic, try Parish Heacock (Florida, online) collector car insurance. Very simple and easy and affordable. They know about gt40 replicas (they insure several). The app form is short and basic, costs about $550.00 per year for my CAV with low deductibles and no coverage caps. Four ferraris, a maser, a Lotus V8, two alfas and the CAV is a total of $5,800/yr. - can't be that!

Very good customer service, friendly, helpful, etc. Good luck and enjoy!

[Big-Foot]

I have my other collectible / Muscle cars covered through American Collectors insurance.

Full coverage stated value -0- deductible for both my 69 Camaro SS and 70 Nova SS is roughly $400 per year.

Early 50's - good driving record - good credit (your credit score is now used to help determine your risk factor) - Home owner, etc..

Welcome to American Collectors Insurance

I've not yet contacted them about insuring a Kit-Car. Just tossing them out there as another option.

[Rob]

Hi Dom,
Actually, I have found this to be an issue with any "home built" car. Not specific to GT40s. Actually, I believe it may be more difficult to insure Cobras than 40s (based on my personal experience). It seems in general if someone else built the car it is easier to insure than if you built it........

This is a good topic for discussion though...... Wonder if we as a group approach the insurance companies what kind of group rate we could get?

Who's up for a little pet project?

[domtoni]

Rob,

The group insurance thing sounds great. I would like to tie in an RCR plus my usual car rental, and see if they can do a deal for both.

If one puts more than one vehicle in the pot, then the prices have to be better.

Best
Dom