Insurance

[calSRQ]

Just insuring my new to me FFR - got a great rate with my company ---the good neighbor one---for stated value per appraisal. 2 days later heard back via email from underwriter "oops after reviewing the appraisal - it's not a REAL 1965 Shelby Cobra (no kidding -with proposed value at about 5% of REAL 1965 SC). Later after more research said highest possible non original cobra value is 45k.

Cal

[Got the Bug]

Call Midwest Classic. Club Cobra sponsor and easily beat my Farmers agent. Great customer service as well.

Cobra Replicas & Kit Cars

[gthompson]

I use Heacock, they cover every manufacturer of Cobra's
They use declared value, that's a good thing. Last thing that you want to do after an accident is argue over what your car was worth
They were 20%-60% cheaper than everyone else
Classic Car Insurance for Collector, Exotic and Antique Automobiles | Heacock Classic

[jhv48]

Not sure what the problem is. Sounds like a more than fair valuation to me.

Are you saying that your car is worth more than $45k? If so, just present them your bill of sale and I'm sure they will revisit the estimate. Remember, your insurance rate will partly be determined by the value of the car. So, the more you claim it's worth, the higher the premium.

Also, remember that if you take your cobra to another insurer, your "good neighbor" liability umbrella will go up substantially. So check with your agent before you finalize moving it to another company. State Farm is being more careful with replicas now because so many owners have declared that their cars were original 1965 classics rather than modern replicas.

[calSRQ]

Good suggestions -

Jim- underwriter lumping all replicas together. I wish he would find me that Kirkham for 45k...I just thought it funny that an insurance underwriter could believe they were insuring a real 65 cobra for that FMV in the first place. Their max is about 20% under my appraisal...factoring in cost, etc might still use them - but will certainly check Midwest and others.

Cal

[jhv48]

Not sure about Florida, but my SPF was valued at $65k because that was what I was taxed on by DMV. Florida must have different rules. You could always check with another agent. Most have little experience with rating replica vehicles.

You might want to search the FFR forum, there was a guy that had an engine fire on his almost completed FFR. Vehicle was insured by State Farm, declared a total loss and he got a $41k check. He was very happy with the way they handled it.

[danc30]

Originally Posted by Got the Bug

Call Midwest Classic. Club Cobra sponsor and easily beat my Farmers agent. Great customer service as well.

Cobra Replicas & Kit Cars

+ 1 for Midwest. Great rate and it is AGREED value. Which means they pay you what you both agree to before you take out the insurance, not after an accident.

Also, my policy increases 5% per year, it started at $60k and is now over $70k agreed value.

[FWB]

Originally Posted by calSRQ

Just insuring my new to me FFR - got a great rate with my company ---the good neighbor one---for stated value per appraisal. 2 days later heard back via email from underwriter "oops after reviewing the appraisal - it's not a REAL 1965 Shelby Cobra (no kidding -with proposed value at about 5% of REAL 1965 SC). Later after more research said highest possible non original cobra value is 45k.

Cal

not trying to be a downer, but, use the search function so the insurance questions don't have to become 100 page threads every two months with the same responses.

there was over 500 separate threads on insurance and appraisals etc.

jus' sayin'

[Dwight]

Midwest

call Robbin

Dwight

[calSRQ]

Originally Posted by FWB

not trying to be a downer, but, use the search function so the insurance questions don't have to become 100 page threads every two months with the same responses.

there was over 500 separate threads on insurance and appraisals etc.

jus' sayin'

Thanks - but perhaps you missed the point of the post...which was that mainline insurance companies and their underwriters are a bit clueless about the cars. I didn't ask for suggestions for other companies - I've had collector car insurance in the past, though I do appreciate the other posters who kindly offered their suggestions without judgment. I've spent the last month reading the past 5 years worth of posts in this forum and 2 others in learning about the cars, and our community. Yes I know the search function - appreciate you pointing that out...