Insurance for your ERA

[428street]

We'll my car is finally coming home in the next week...it's been a long wait but well worth it.

I'm concerned about insuring the car from the time it leaves ERA to the day I actually register it which could be some time...my plan was to work on this in the winter but the timing did not work out...so, can you guys let me know how you handled the insurance deal, who you have your insurance through, etc. Also, can you guys give me some idea of cost....

Thanks in advance

[Kramer]

fyi....I was told by intercity (trucking co) that the car was insured up to my door step. I then called my insurance co to see if the car was covered under my personal property b/c it was not a licensed automobile yet. I didn't get a answer that I felt comfortable with so I bought some insurance on the car...it was like $500 bucks per year. If you read all the threads you will get all the information you need on insurance.

IMO...better safe the sorry.

Kramer

[SSSammy]

Congrats on finally getting your car! Insurance varies widely state to state and among insurers, so conduct a thorough search. I use ANPAC Chrome:
http://www.anpac.com/products/p_c/chrome/default.aspx

My agent is in TX, so you just need to input your zip and see who in CT reps this line. Key advantage of this company .. up to 10,000 mi/yr. My policy is for 7,500 mi. Annual premium is about $500 on agreed value of $70K, but that is TX not CT The fish hook is that most companies require at least one daily driver also be insured with them, or their mileage restrictions are onerous. I have moved one of my other cars to ANPAC to comply after considering all alternatives.

It may matter in CT how your car is described on the "proof of insurance" document that you present to the tag office or state inspector when you apply for title. In TX, that is the first step into the minefield you have to navigate. Research this with other CT owners. Folks at ERA ought to be experts on it.

Sam

[ERA2188]

Insured my ERA prior to shipping .. just as redundant protection .. $800 for 5,500 miles per year max., and confirmation that you DO have a daily driver. Anything in excess of 5,500 miles they consider REGULAR usage at a much higher rate. Grundy Classic Car insurance. Via the internet. RD

[Chaplin]

It is going to depend on your state and which insurance companies you go with. I could not find any insurance co. in NJ willing to insure the car as a roller because they did not deem it to be a "car" until the drivetrain was installed. The only option I was left with was adding it to a personal property rider on my home owner's policy, which was a hassle and not very cost effective.

Since Intercity insured it for full value until it arrived at my door, I didn't think there was a lot of risk leaving it uninsured for a couple of weeks until I got the engine installed, so that is what I did, but I was extra careful to make sure the garage was securely locked! My policy is apx $600 year with a 3000 mile limit.

[Kramer]

fyi...for what is worth my insurance company was willing to insure b/c the car was complete even though the engine and trans was not in the car....i had to send pictures of both (the car and engine) but it was insured.

Kramer

[428street]

Thanks guys. I'll call Master Peter.

[Don]

428Street:

I insured the Cobra, Corvette and AMX with:

http://www.amig.com/products/collector-car.html

CT Agent:

Mike Smith
Northeast Classic Auto Insurance
P.O. Box 287
Monroe, CT 06468
Call 1-800-866-6440
Fax: 203-459-9791
msmith@classiccarinsurance.com

http://www.classiccarinsurance.com/

[JWheaton]

Build it faster.

I would assess the real risk to the car.
1) Fire
2) Flood
3) Theft
4) Building Collapse

versus how much time it will be undrivable.

Good luck on the build.

[Lloyd GT40]

428

welcome to the club. First don't listen to anyone who tells you homeowners will cover you, Not going to happen. I ran into the same issue no matter which company i talked to. The all said they would not insure car parts. If you can't drive it, its car parts. Hagerty is the only company that would insure it at 80% complete. Once i got the engine in i kinda of fab up some pictures to make the car look almost complete. It worked. I paid a full premium even thought the car wasn't drivable. This was July and i registered it the following May.

Hagerty insures for stated value, I produced receipts for $110k and thats what i wanted. No driving limits $1300. with $500 deductable.

Good Luck with registering it in CT.. How complete is your car?? Talk to Pete about registering the cars in CT. We have a special state when it come to registering a composite car.


LLoyd

[Don]

428Street:

The CT Registration Thread. In case you did not know, CT Composites are exempt from Emissions testing.

Connecticut: Registration, Inspection & Emissions

[Godfather]

I am also going to insure soon before my car ships. I do not know if I will find anything, but I am going to look for just comp coverage until it is ready to drive. Why would I need liability while it is locked up in the shop?
I have 2 other cars with Hagerty which will not cover a cobra, so I will be insuring all 3 later when I find another good company.

[428street]

Well I called Mike Smith at Classic Auto Insurance and no go...He said exactly what Lloyd said, no engine, not registerable, no insurance...I'm going to call my home owners but I think I'm up a creek without a paddle. We'll see...It doesn't make sense to me but then again a lot of things don't make sense...

The car is basically a roller and is exactly like Peter's car...

[Lloyd GT40]

if your agent tells you you're covered have him put it in writing. I tried to put a rider on my Homeowners couldn't do that either. Sounds like the insurance companies are missing the boat here. What are the odds of a theft or fire....

like everone said build it fast.

You might want to drop the motor in and take some pictures you can always yank it out. Motor in wheels on sounds like 80% to me. Talk to Hagerty they were the most wiling to work with me

Lloyd