Need help insuring my Cobra w/ co. car.

[Duffinatur]

hi all,

I've run into an insurance situation that maybe someone else has seen. I drive a company truck (08 Silverado) and it's mine to use as a personal vehicle as well.

I've rec'd some great rates for insurance...if I have another car, which I don't. My ex-wife took her little gas mizer econobox Kia with her when we divorced. I'm not a "named insured" on our company policy and my employer seems reluctant to provide me with a "drive other car" endorsement. I work for a great company and have a great boss as I usually get a new truck (loaded) every two years or so. I really don't want to upset the apple cart by pressing the issue.

I've thought about buying an cheap econobox for basic insurance but it would have to be newer than 10 yrs for it to qualify. I really don't want another car sitting around that I won't drive. Not to mention that nearing the end of my build, funds are getting tight.

Does anyone have ANY suggestions. I've called many of the companies listed through the posts here in the forums, and my own Farm Bureau rep. Same answers everytime.

Thanks in advance

Duff


P.S. Will be spraying color within two weeks!!

[raclaims]

That's a tough one...you need to show that you have another full time driver...I was able to use my company cars but I own the company so perhaps it was easier that way?

I would keep calling around...it's exhausting but sooner or later you may get lucky.

[Joe@KMS]

Try Robbin. He seems to know a lot about these cars and can generally help:

robbin@midwestclassicins.com

[jagxjr5012]

You have a PM

[Midwest Classic]

This is kind of a two fold reply. First the reason that Companies will not write since you do not have a personal automobile policy is your personal use exposure on your Company vehicle. The insurance on the Company vehicle protects the Company while you are driving it. If you have an accident and the Company and you are named in a lawsuit the Company has insurance but you do not. If you had a personal automobile policy this exposure is picked up there under the other vehicle insured. This exposure for you is huge as you would not have any personal liability coverage or defense cost coverage in the event of a claim brought against you. You also do not have coverage in the event you would borrow, rent or drive another vehicle such as a friends. The drive other car option endorsement would take care of this personal situation for you but I can understand your situation with the employer. There is a policy called non-owned auto that I write for people that have a Company vehicle and do not own a personal auto but this is not the case for you. You need to correct this situation as soon as possible for your own protection. The collectible markets will not write the coverage without the DOC endorsement as they do not want to pick up your personal exposure on the Company vehicle 24/7, which they could be held accountable.

Here is a way that we can help you. If you obtain a personal automobile policy on the Cobra for liability only they would take care of the liability exposure on the Cobra as well as fill this personal need for coverage. We would then write the physical damage coverage on the car for you, the comprehensive and collision. This is the coverage that most Companies do not want to write and we do a much better job for you on this than they would.

I know there are others in your same situation, they just do not know it. They have asked about insurance on their Company vehicle and have been told there is coverage on it, sure there is to protect the Company.

I Know this is a little long winded but hope it helps.

I will be at the London Cobra Show sometime tomorrow through Saturday stop by and see me if you are at the show.

Robbin
Midwest Classic Insurance
www.cobrareplicainsurance.com
1-888-271-4000

[Duffinatur]

Thanks, Robbin, for your PM and this response.

I think I understand much better after your explanation. Unfortunately, I may not make it to the London show this year as I'm using every spare hour (and dollar) to work on the car, and I want it painted by the 4th. Not long after that I'll need comprehensive insurance.

I think I'll take your advice on the personal liability coverage, I'll call you about it in the next few days. I drive about 100 miles a day within a 50 mile radius, 5 days a week. Sounds like I might need it, and hopefully can coordinate it to work in conjunction with coverage for my Cobra if I'm understanding you correctly.

Duff

[Duffinatur]

Thanks to you as well JAGXJR5012

Duff

[gjcomb]

Duff;

I currently have insurance with the following company:

Heacock Classic (Collector car insurance)
P.O. Box 609
Burns, TN 37029
1-800-274-1804
Attn: Yvonne Daughterty
Customer Service Representative

See if she can quote you a rate. My rate is based on how many miles your car is driven per year. I have full coverage for my replica.

Also, I met this guy while at a Hot Rod show out here in California who also insures toys. I believe they also take into consideration the value of your car + time/labor that you believe you have put into the machine - i.e., other insurance companies will want to appraise your call after a certain value - these guys take the value and additional work/time into considering the ultimate value of your car to be insured. There is a limit, but not sure since I did not discuss much further.

Problem is that I am not sure whether there is coverage for the state you are in - they have locations throughout the US, but not everywhere. You can email him to see if he might be able to help you if you are interested.

NW Insurance Center, Inc.
Tom Foltz
Email: classiccars@gotinsurance.com
1-800-683-1165

George

[WarrenG]

I tried Heacock prior to going with Midwest. The Heacock reps told me that they no longer insure replicas.

[Midwest Classic]

Warren,

Now I feel cheap! I was your second contact.

[WarrenG]

Originally Posted by Midwest Classic

Warren,

Now I feel cheap! I was your second contact.

Sorry, they just happened to have a booth at VIR for the SAAC meet!

[Duffinatur]

Thanks to you all,

Got it insured on July 3rd so I could enjoy it for the holiday weekend.

It as complicated but my State Farm rep took care of all the details, plus I got the discount for the house, life, and car all being on one place.

Duff