Insurance costs

[Three Peaks]

Well, hopefully I'll have my car on the road relatively soon and I would like to know where to go to insure it.

What are you guys paying for insurance and who are you with?

What restrictions or limitations are on your policies?

Thanks,
Bob

[jhv48]

I think I answered you on the FFR Forum.

[patrickt]

I have my Cobra's liability coverage with the same carrier that I have for my other cars and for my umbrella policy. For individuals, you pretty much want your umbrella policy to be with the same carrier that has your underlying liability coverage. I have a separate agreed value policy on the Cobra that covers collision/comp. Splitting the coverage between carriers gives me more coverage for less money. BTW, if you don't have an umbrella policy, call your agent this evening and buy one.

[Bobcat]

Here`s a 100 % agreement on Patrickt`s comment on an umbrella policy ... and they are reasonable on cost . State Farm will do $2,000,000 ( minimum you should have ) for less than $150/yr . With the way the courts and lawsuits are going to today , and the size of the judgements , by all means get the Umbrella policy !! I`ve had one for years and the premiums are rolled into my other monthly/yearly payments.

[patrickt]

...and don't be mislead by posts on this, or any other car forum, quoting a premium price for much less than you are paying. You have to know the limits of liability, the deductibles, the restrictions, and the extent of the coverage in order to do an apples to apples comparison. Also, don't do business with a carrier that is not licensed to sell insurance in your state unless you have a really good reason to do so and you really know what you're doing. Most states will let you check via the web to see if a carrier is licensed to sell P&C insurance in your state.

[62Cobra]

I tried to get a policy with my existing insurance company but after trying to get an appraisal around my area for a whaaat? I don't rightly know what to estimate that at......who makes this thing....we dont estimate kit cars!!! Ok I went to Hagarty, but they raised their rates 33% per year so after 7 years I was paying what I felt was way too much for a car I barly drove. So I left them and went to Grundy and got about the same coverage for about 1/3 the price of Hagarty.

[Zoom This]

I use Grundy's. Agreed value, 100/300k coverage for liability, no deductible, unlimited mileage, $702/year. I have a clean driving record and live in the SF Bay Area. Check 'em out.

[patrickt]

Originally Posted by 62Cobra

Ok I went to Hagarty, but they raised their rates 33% per year so after 7 years I was paying what I felt was way too much for a car I barly drove. So I left them...

Hagerty no longer places coverage on Cobra replicas. Well, at least not knowingly so.... See vehicle_replicas

[gjcomb]

Three Peaks;

You might want to give the following insurance company a call (you are in Oregon and their territory also covers that state as well as California and 17 other states:

NW Insurance Center, Inc.
17401-135t Ave NE #7
Woodinville, WA 98072

Attention: Tom Foltz
email: classicars@gotinsurance.com
ph: 425-483-5758
ph: 1-800-683-1165

This insurance company had a booth at a recent car show in the San Francisco Bay Area and I asked him about rates, since I am currently insured with Infinity Insurance Company (Heacock Classic). Seems like NW Insurance takes more consideration on determining value of your car over what Infinity currently offers. Unfortunately, I don't believe I can cancel my current insurance and switch over to NW.

The only restriction that they mention are:
No primary use of driving
Must be stored in a locked garage.

Call Tom for a quote and discuss what your car is and what you have done to it (build time, expenses, value of the car, etc.).

George

[ERA2188]

In most cases good coverage with a reasonable rate will come only from an insurance carrier that is a "classic" car specialist. Infinity / Classic collectors (800) 252-5233 or Grundy's. I previously used Infinity for my Unique for 2 years, and I just insured my new ERA with Grundy. $800 for coverage. Our other 2 cars are covered with State Farm and they wanted $1600 for the cobra on the condition that I didn't drive it more than 1400 miles a year.

[Juggernaut]

Bob, I just got insurance on mine today since it's just about finished. I went with Midwest Classic Insurance, heard a lot of good about them here on the forum. My policy is $450 a year, agreed value, 5000 mile limit, small deductible and 100/300k coverage for liability.

If you're interested, contact Robbin Terry at robbin@midwestclassicins.com

Randy

[Got the Bug]

Here's another link to a thread from last week regarding insurance.

http://www.clubcobra.com/forums/las-...ation-q-s.html

George - I went with NW Insurance for my current policy. I originally spoke to Tom and then worked with Danielle Brown. They were great to work with.

Danielle Brown
NW Insurance Center, Inc.
425/483-5758 ext 7
425/483-2016 fax
classiccars@gotinsurance.com


Only issue, is that my policy has a 3k mile per year limit. I was at 2K miles in 6 months, so I'm going to need to contact them soon to discuss. The Grundy policy that Zoom This described looks good.

[MaSnaka]

ERA2188, and Others FWIW, I am currently with State Farm and it's more like $720 for the year. I got a quote from Robbin at Classic over the email and it was just about half that amount. I am seriously thinking of changing but then my umbrella with State Farm wont cover me in the Cobra.

John

[gjcomb]

Doug;

You are right about NW Insurance and their 3k max mileage per year - forgot about that. GC

[Got the Bug]

George,

You can't beat the responsiveness and customer service of the folks at NW. I sent Danielle an email today and had a response in 10 minutes!

Insurance is also all about where you live, how old you are, your driving record, and the agreed value. Comparing rates is like comparing apples to oranges.

I'm looking at kicking up the mileage a bit on my current policy and then see where I'm at when my policy expires in June.

[thudmaster]

I'm with state farm. I have no mileage restrictions, agreed value, and they cover my house and my other car. They may be a little higher than everyone else but I'm happy. Look at my avitar, I'm on my second superformance and they are covering this one also.

[tmareina]

I've got State Farm...with an agreed value 100/300 with the car under my umbrella policy. They have had all my insurance for 30 years and it costs me about 500.00 a year. But up in the mountains I've found our policies are a little cheaper. Maybe 'cause there aren't so many people here.

Tom