American Collectors Insurance????

Dwight · #1 (**permalink**) 04-18-2003, 07:34 PM

ANYONE HAVE ANY EXPERIENCE, GOOD OR BAD WITH AMERICAN COLLECTORS INSURANCE CHERRY HILL N.J.??????
THEY GAVE ME A QUOTE OF $233 A YR FOR $40,000 ON MY COBRA.

Rich · #2 (**permalink**) 04-18-2003, 07:44 PM

They told me they would NOT insure home built kits and would ask for records from the manufacturer. That sorta lets me out.

Rich

KobraKarl · #3 (**permalink**) 04-18-2003, 07:54 PM

Thats weird, I got a quote last week for 750$ for 45.000$

Rich · #4 (**permalink**) 04-18-2003, 08:20 PM

Here's an exact quote from their reply to my query:

"Indeed we do. American Collectors Insurance has a market for either original or professionally manufactured Cobra replicas that are garage kept and used on a limited basis for hobby/pleasure/club activities. We do not insure home built kits or any vehicle that is used for general use and/or timed events."

Rich

Bannon · #5 (**permalink**) 04-18-2003, 09:14 PM

I got a quote from them for $853 annually for $55,000 for my Superformance. The problem I had is that I could not drive it more than 2500 miles a year. If I had an original I would probably not drive it much but hey I'm getting a replica because I want to enjoy the car. If they could have given me a 3500 mile a year limit then I would have gone with them. Very nice people to speak with unlike Grundy who even though said they would insure me were not very friendly. Spoke with them several times, the last time they told me that I could never, ever drive it to work. (Hey I guess I should feel lucky at least they told me they would insure me, I've heard from others that they would absolutely not insure Cobra replicas.)

I finally settled on State Farm at $1300 a year. At least I can drive the car whenever I want to.

Good Luck,

JB

Cobrabill · #6 (**permalink**) 04-19-2003, 07:05 PM

I'm paying 335 a year with ACI.Car is insured for 55K.

jgrice · #7 (**permalink**) 04-20-2003, 04:46 AM

There have been several threads lately on insurance and it is true that a couple of companies are no longer insuring Cobras and I've found that others will deny coverage even with 1 5 over ticket or 2+ tickets in the HH (even if you write exclusions for kids, etc).

Just make sure when you talk to the companies you tell them up-front about driving records otherwise you could get denied after submitting all the paperwork and be back at ground zero.

I frankly have been keeping low deductibles on my cars. However with the Cobra I went with a high deductible and cut 40% of the annual cost which results in a 3 year ROI. Since I don't race and use my car as a daily the likelyhood of a claim is slim. Did the same on my wifes vette.

Jeff