Car Insurance

[NATEHAWK]

Do anyone on the board have a stated value policy with a insurance company that will cover our mods and such? The regular day to day insurance companies dont cover these things and im looking for a company that does. Chime in fellas.....

[DOOM]

Anybody here have collector car insurance? Like hagerty for example?

[NATEHAWK]

Chime in boys us S/C boys are waiting.


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[Mr. Man]

I'm surprised your insurance guy won't or can't put a rider on your policy. Kind of thing people get for artwork or computers for the home

[NATEHAWK]

A rider please explain. Mr. Man o wise one lol.


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[justbob]

My Statefarm guy said mod away at no extra charge. No reciepts needed, but please take detailed photos. Pretty much said I would get full replacement on parts and reasonable labor costs, but the labor would only be payed if I replaced the car with another same make and model. They checked with the Illinois state underwriters and came to the conclusion that there was NO addition payment needed nor can they cancel my policy for power adders. I have heard of some companies imediately cancelling customers who told them they installed a blower or refused payment on the customers who didn't tell them and got into an accident.

Check your state laws on just what your insurance carrier "thinks" they can do or not do.http://www.mercurymarauder.net/forums/showthread.php?t=53802&highlight=state+farm

Thinkin out loud here, but shouldn't bigger brakes mean a discount for safety, or d/s safety loop, ETC? Questions to ask? Maybe walk out with a reduced rate. Never hurts to think the way they do.

[NATEHAWK]

@Justbob thanks for the ideas. I have a meeting with statefarm agent my fiancé uses so I'm going to see what they can offer as well. Because I will never use GEICO again. They $uck a$$ and bite ball$.


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[MrBluGruv]

Personally, I use a company called Home State County Mutual Insurance Co., and I get a hell of a deal. At 20 years old, I pay roughly $88 a month for full coverage while under my parents' plan. Cheapest car on the insurance actually, among an '08 Sable and '05 Ranger Edge. Pretty freakin' sweat deal if you ask me. Of course I'm not supercharged though...

[Mr. Man]

A rider as I understand it and I'm no insurance dude, is basically a way to insure extras or things that are not covered under the regular policy. Like I said before, people get riders for expensive art work, home computers and elaborate entertainment systems, and other things that are out of the normal insurers expense should there be a fire, robbery etc. Like above said pictures of what you have are also a good thing as you can show the insurance people what you have and why it needs more coverage than a basic policy. If your insurance guy doesn't have a policy you can use to insure your car try a few different companies. You will pay a premium for the rider. I would do some Internet searching or ask a company you know you are not going to go with about coverage for a race car or a car you take to the races. You would be looking at very high premiums as racing would put the insurer at very high risk.

[justbob]

Don't expect any carrier to insure it while it's at the track. Thats on your dime.

[Speed]

Nate,
Check out American Collectors (www.americancollectors.com (http://www.americancollectors.com)), I was referred to them by USAA. They will want to know what the vehicle is worth with all modifications and offer things like towing, reimbursement for car shows if you break down and etc. Drawback car will have to be in a privately locked garage and cannot be used as a primary source of transportation, even if your primary source breaks down.

[tbone]

State Farm is the BEST. I would never even consider using any other company.

[Speed]

tbone,
Will State Farm pay you based off market value of the car or what the car is worth with all the modifications? As you know many members have some serious modifications making them easily worth 20,000 or more. I'm pretty sure they would like to be compensated fully should anything happen to their beloved MM.

[Big Black Beast]

You could ask, but w/ a SC & all the go fast stuff they might raise your rates, they would probably just give you "High bluebook". You might check into "collector car insurance" where you pay to be insured for an "agreed value".

[Big Black Beast]

Because I will never use GEICO again. They $uck a$$ and bite ball$.

That's why they spend millions advertising, they wouldn't get ANY business otherwise.

[Speed]

You could ask, but w/ a SC & all the go fast stuff they might raise your rates, they would probably just give you "High bluebook". You might check into "collector car insurance" where you pay to be insured for an "agreed value".

Thats what american collectors is (collector car insurance). Hmmm...so thats why they asked me how much the car is worth,...caught me off guard.

[tbone]

tbone,
Will State Farm pay you based off market value of the car or what the car is worth with all the modifications? As you know many members have some serious modifications making them easily worth 20,000 or more. I'm pretty sure they would like to be compensated fully should anything happen to their beloved MM.

Just document everything you install. It will depreciate just like the car. If you had a total loss, they would pay you based on what they could buy a car with similar features and miles on it. For example, you could put 50K into a car, but if they find one with similar miles and similar equipment for 15K, that's all you would get. Be careful how much you invest in goodies.

[Big Black Beast]

So, gutter guard + home depot spoiler + home made CAI = $10,000!:D

[joemama]

Nate,
Check out American Collectors (www.americancollectors.com (http://www.americancollectors.com)), I was referred to them by USAA. They will want to know what the vehicle is worth with all modifications and offer things like towing, reimbursement for car shows if you break down and etc. Drawback car will have to be in a privately locked garage and cannot be used as a primary source of transportation, even if your primary source breaks down.

If you read their fine print, one condition to qualify is that the car "is not used for racing or timed events"....:bigcry:

[LeoVampire]

Progressive has a part of their policy where you can list up to $5,000.00 worth of mod's on your car but you have to have the documentation on all of it for them to cover it but it does cost extra money.

I did talk to the Grundy World wide collector car INS trying to get it but they insisted on a Garage for the car for them to cover her so I am trying to work out a deal with my landlord for ours in back. But yes they do cover all modifications on pre set value cars I had talked to them about covering minr for $70,000.00 seeing the only comperable car out there is in the GT500 or better class of mustang which cost a lot of money to buy. They said the yearly coverage would be $750.00 with zero deductables but the car can not be a daily driver you have to have another car to use for work and so forth.

I hope this info helps a few guys out.