I got various rejection reasons last year when I got my SPF Cobra including:
Not in MA
Sorry, no kit cars - no replicars
Must be an original Cobra with VIN # starting in CSX (Grundy)
Physical damage only, get liability thru another company
Only if value is above $75K
I'm sure that some Cobra owners have insurance thru many companies that rejected me, but many are no longer writing insurance for Cobras or any collector cars in MA. No luck with Grundy, Haggerty, Condon & Skelley, Leland West, three local agents, State Farm, NE Classic Auto (Mike Smith), Midwest (Robbin Terry), Classic Auto Ins (Drew Yagodnik)
After about 8 hours on the phone, I hit paydirt ... thanks to recommendation of local appraiser.
American Collector Car Insurance in NJ
www.americancollectors.com
800-360-2277
They have underwriters that deal specifically with MA collector car insurance
I talked with Diane K on ext 251
Did not need appraisal, but long list of stuff and conditions that were not any problems:
Must be garaged
Optional coverage only up to coverage you have on your daily driver
Must have proof of another car as the daily driver
2,500 miles max per year
No restriction on time or where driven (any day, any function)
No racing, track or timed events coverage
Coverage - basic limits except #3 (Uninsured Motorist), #5 (Bodily Injury) and #12 (Underinsured Motorist) set at $100/300K (their max). Damage to Someone's Property #4 set at $50K
$50,000 "Agreed" Policy for Collision & Comprehensive (#7 and #9) with
$500 deductible (full coverage on glass)
Cost for year only $320.00. The lowest cost with no optional coverage would have been about $275, so for an extra 50 bucks I got the max coverage they had.
Fantastic! Especially when I got a quote of $2,364.00 for same coverage from my agent if I wanted to insure it just like a daily driver!
Their web site says it takes 12-14 business days, but that includes mailing time both ways. I did an overnight mail on a Friday and got insurance approval on Tuesday (tel call) and the RMV form in Thursday mail.
Found out another interesting tidbit. In MA, their is no such thing as AGREED Value policy. Its actually a Stated Value of $XXX, but it is not depreciated with time or usage. Therefore, it technically is an agreed amount, its just that MA terminology and laws are what drives insurance companies away from our screwed up state.
Warren