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Originally Posted by CobraDan
The reason insurance companies started to drop Cobra owners was that most collector cars never leave the garage and if the do they are taken to a local car show therefore very few claims unlike the Cobra. I personally know of reading more than once of both the driver and the passenger of a Cobra being involved in a high speed crash killing both, plus injuries and death in the second car involved in the accidents. Now with million dollar claims the insurance companies had to drop the Cobra, how many insured Cobras does it take to make up a million dollar claim?
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The reason most regular insurance companies do not write Cobras is they do not understand them. The reason Collector car companies continue to monitor the Cobra insurance is due to high losses.
I somewhat disagree with you about other collector car owners leaving their cars in the garage. The original bone stock vehicles probably only see 1500 miles a year in many cases but the modified/Street Rod type vehicle will see anything from 2500-5000 or more miles a year. I know I drive my vehicles collectively about 4000 miles a year until this year when I have been too busy to get out as much.
It is not the number of miles that people put on vehicles that are a problem, it is the way they put them on.
Almost forgot to reply - "how many insured Cobras does it take to make up a million dollar claim?" - answer 1. But that same answer will apply to the Yugo as well.