SLC Insurance (Non-Replica)

[Yos]

Thanks guys. After gathering quotes and talking to a few different folks...I think I've decided to go with Midwest Classic. Thanks Allan!

Everyone I've talked to seemed wary, or put off by the SLC. Robbin at Midwest knew exactly what I was looking for and gave me a very reasonable quote. Annual premium of $922.00...not bad. I'm working on getting it finished up now.

They'll insure it during the build as well, which was important to me. 100k worth of car/parts should be covered in every which way imaginable as far as I'm concerned.

 

[Ben]

Thanks for the update! As I recall, they will not cover track days/racing. Did you happen to ask about this?

 

[Yos]

Hey Zoey...I did ask him a few questions about that, but don't want to pass along bad info. I'll be talking to him again tomorrow...I'll clarify the exclusions and let you know.

It wasn't a major thing for me, so I didn't spend much time on it.

 

[Mesa]

Any body have some suggestions for insurance? I'm having a hard time getting the car "classified" correctly. I've spoken to Grundy and Hagerty...they act like I'm speaking Chinese when I say it's a kit car and NOT a replica.

I did finally get Hagerty to quote me, but its $3k a year... :thumbsdown:

I am very late to this thread but when I got my quote from Hagarty (years ago) I spoke to a guy that knew of the SLC, either knew Fran personally or knew of him at the least. I don't remember exactly what he said, but for sure it was no problem to get the quote and he was very enthusiastic to actually have an SLC under the Hagarty roof. Mine was for the rolling pile of parts at the time.

I will see if I can find his name, I think he was one of the major players over there.

 

[Tim]

Just started the process on this with Hagerty. Their site is simple and quick to use, though it does not allow you to deselect collision insurance. That isn't necessary until the car can make it out of the garage, so once you submit the application you can call them up and they'll immediately generate a new quote without it.

Came to $450 annual premium for a zero deductible comprehensive: floud, fire, falling debris and in my case, earthquakes

Still need to finish it up with photos of the car and documentation of my regular insurance for them to underwrite, but so far a great experience.

Tim

 

[Yos]

Wow...thanks for the info Tim. It never even occurred to me to drop collision. My final quote with Midwest came to $874/yr all in. I'll ask about changing coverage during the build.

Out of curiosity...could you tell me who you dealt with at Hagerty? I had the worst luck getting quoted there. Thanks!

 

[Tim]

Wow...thanks for the info Tim. It never even occurred to me to drop collision. My final quote with Midwest came to $874/yr all in. I'll ask about changing coverage during the build.

Out of curiosity...could you tell me who you dealt with at Hagerty? I had the worst luck getting quoted there. Thanks!

Sorry, don't know the name. I did the online application (it's remarkably easy compared to normal car insurance), called once as I was filling it out to understand how to decline collision and the lady said just complete the application and we'll switch it when you call back. Did that, called back 2 minutes later, a different lady immediately pulled up my quote, adjusted it and I had a new one in PDF in my inbox within 10 seconds. They both seemed to know exactly what needed to happen and explained it to me concisely.

 

[Troy Truglio]

I called State Farm here in VA. They would do it but only if it was build by a certified shop and not by "two guys in a garage building it?".

So then I thought, dang I have a shop and could get my ase cert. So I went on there site and took a pretest and passed. Easy questions. So maybe I will just pay the $30 test fee and get my ase mech cert so I can say I have it and get the insurance.

I am also guessing that since Fran assemblies it that might be enough for the insurance. I guess I need to see what it says when I pick it up. That would make life easy.

 

[bob d]

I got my insurance through National Corvette Museum and was around $1300 per year as a second car 2500 miles per year

 

[Wayne]

FYI: I contacted Hagerty and rec'd a premium quote of $926 for $80,000 unfinished and garaged. I also explained that other SLC owners have rec'd much lower quotes. I lowered the value to $60,000 to get apples to apples comparison. My quote was $828. The premiums vary based on geographical location,. I live in south Florida which has higher premiums then in northern Ca. I will call Midwest and others.

 

[Tim]

FYI: I contacted Hagerty and rec'd a premium quote of $926 for $80,000 unfinished and garaged. I also explained that other SLC owners have rec'd much lower quotes. I lowered the value to $60,000 to get apples to apples comparison. My quote was $828. The premiums vary based on geographical location,. I live in south Florida which has higher premiums then in northern Ca. I will call Midwest and others.

Did you take collision off? Mine was in that ballpark with collision. Once I need to trailer it to get a few things done, per CA law I'll need to add it in with a super low mileage amount and that'll be $100ish extra. You have to call them to get a quote w/o collision.

 

[Wayne]

With collision and $5000 deductible premium is $1471.
Without collision and $5000 deductible premium $763.

 

[Howard Jones]

Here's a idea for the build period. Ask your preferred insurance company what the premium would be if the the car is put into a non-op status after it's been insured. In Calif you can get the car completely registered and then change the status to Not Operated (non-op). You couldn't drive it but then it's not done and isn't ready to run anyway.

The idea is to complete the entire registration process, insure for your preferred value and then make the car status non- op thus fully insured in the garage period. Then when you finish it just change the status with the state and inform the insurance company.

I think it will work, worth a ask.

As far as track cars go you can insure it for travel on a trailer, garage loss, and theft. No running time insurance. If you break it you fix it. When I checked on this, I'll see if I can find the info, it was really cheap. Something like a couple of hundred a year for $50K.

 

[Yos]

I ended up taking a HUGE risk and hauled mine back with no insurance. As the agent so eloquently put it "you'll be driving with an $80,000 deductible". But oh well...I lucked out.

He didn't tell me until the end that they wouldn't insure the purchase price in it's current condition??? So I just decided to wing it and handle it later. If I can't insure the value I need (kit+drivetrain) then it doesn't really make sense. Of course I tried to finalize all this on the day of pick up, so I'm sure it's partially my fault. I'm just a dummy, and I envy you guys that have had no issues. I hate insurance :shout:

Until it actually becomes a "motor vehicle", my home owners will cover it in my garage anyways.

 

[Mike]

Until it actually becomes a "motor vehicle", my home owners will cover it in my garage anyways.

Be careful assuming that your homeowner policy will cover an auto or more specifically auto parts-accessories. Most homeowner policies have limiting and denial language on car parts. It is, after all, a dwelling policy.

--- Sharkey @ First Choice Claims Service