altopcat Posted March 31, 2008 Report Share Posted March 31, 2008 Anybody run into this scenario when insuring there Shelby. I was pleased with my quote from State Farm but could not understand why it was so cheap. The Rep said that the Vin showed it to be a Mustang GT not a Shelby. No problem I say but this car is much more costly to replace then a regular GT and I wanted to know how it would work. Well I was told that it would be priced and replaced as a regular GT. I would like to know if anybody ran into this and how they handled this situation. Link to comment Share on other sites More sharing options...
Reino Posted March 31, 2008 Report Share Posted March 31, 2008 Anybody run into this scenario when insuring there Shelby. I was pleased with my quote from State Farm but could not understand why it was so cheap. The Rep said that the Vin showed it to be a Mustang GT not a Shelby. No problem I say but this car is much more costly to replace then a regular GT and I wanted to know how it would work. Well I was told that it would be priced and replaced as a regular GT. I would like to know if anybody ran into this and how they handled this situation. Many on here have bought upgraded/extra insurance. Cant remember the exact terms but talk to the rep and tell her u need extra insurance to cover the Shelby package. Link to comment Share on other sites More sharing options...
ingram4868 Posted March 31, 2008 Report Share Posted March 31, 2008 Perhaps if you take in the Ford and Shelby window sticker along with the bill of sale they will add the Shelby package as an addendum. I know people with expensive stereo systems that have special coverage for those items and I believe they were only asked to come in for photos. Link to comment Share on other sites More sharing options...
IASHELBYGT Posted March 31, 2008 Report Share Posted March 31, 2008 Anybody run into this scenario when insuring there Shelby. I was pleased with my quote from State Farm but could not understand why it was so cheap. The Rep said that the Vin showed it to be a Mustang GT not a Shelby. No problem I say but this car is much more costly to replace then a regular GT and I wanted to know how it would work. Well I was told that it would be priced and replaced as a regular GT. I would like to know if anybody ran into this and how they handled this situation. Yes, the VINs on the SGT do not take into account the Shelby upgrade. It is valued as a stock Mustang GT. I was able to insure mine with Hagerty, through my wife, who is an insurance agent and was able to insure it for stated value. I had to send a few pictures and show my dealer invoice and SAI mod shop receipts. Hagerty has some driving limitations, so if you have a daily driver probably not the way to go. I have a stated value in the $40k's and it runs me about $1,000 per year. Dave Link to comment Share on other sites More sharing options...
clark17357 Posted March 31, 2008 Report Share Posted March 31, 2008 Anybody run into this scenario when insuring there Shelby. I was pleased with my quote from State Farm but could not understand why it was so cheap. The Rep said that the Vin showed it to be a Mustang GT not a Shelby. No problem I say but this car is much more costly to replace then a regular GT and I wanted to know how it would work. Well I was told that it would be priced and replaced as a regular GT. I would like to know if anybody ran into this and how they handled this situation. I had to go round and round with AAA for my SGT insurance because of what you said, i.e., the computer shows it as a Mustang GT. I now have it insured for the correct amount but let me tell you the danger. I live in Rancho Bernardo, California. In October, that is where President Bush visited to view what the wildfires had done to us. Literally, one week before those fires, I brought my SGT home. When we were evacuated, the SGT had to stay behind. We were lucky, the fires did not take our house. When I was finally able to talk with AAA about the car, I was told, in no uncertain terms that, had my car been lost to the fires, I would have gotten a check for a new Mustang GT but not a SGT. Make sure your insurance company has you fully protected. And then write them a letter confirming their representations so, Heaven forbid, if something happens, you do not find yourself under insured. Good luck. Jim Link to comment Share on other sites More sharing options...
sudden Posted April 1, 2008 Report Share Posted April 1, 2008 Go with the cheaper rate, just dont get in a wreck! Link to comment Share on other sites More sharing options...
ShelbyGT/GT500 Posted April 1, 2008 Report Share Posted April 1, 2008 Hi, Go to a Insurance broker that can sell any companies policy they should be able to help you. I get my insurance through a guy who sells many different policies from many different companies. When I first got insurance I ran in to the same problem when I told him the problem it took him about a week to find a company that insures cars that are hard to get and and appreciate in value. Good luck, ShelbyGT/GT500 Link to comment Share on other sites More sharing options...
shelbygt350s Posted April 1, 2008 Report Share Posted April 1, 2008 hi give HEACOCK INS a look they are allot cheaper than anyone my friend use them for his GT500 i use them on my 08 conv Link to comment Share on other sites More sharing options...
SoDakMac Posted April 1, 2008 Report Share Posted April 1, 2008 Anybody run into this scenario when insuring there Shelby. I was pleased with my quote from State Farm but could not understand why it was so cheap. The Rep said that the Vin showed it to be a Mustang GT not a Shelby. No problem I say but this car is much more costly to replace then a regular GT and I wanted to know how it would work. Well I was told that it would be priced and replaced as a regular GT. I would like to know if anybody ran into this and how they handled this situation. I have State Farm insurance on my vehicles and ran into the same issue. The agent ended up increasing the value equivalent to what the car stickered for over and above what a Mustang GT listed for in their database. He said it would have full coverage in case of a total loss. I paid MSRP for the car in a deal cut last March so that is what I wanted it covered for. Link to comment Share on other sites More sharing options...
mffarrell Posted April 1, 2008 Report Share Posted April 1, 2008 Anybody run into this scenario when insuring there Shelby. I was pleased with my quote from State Farm but could not understand why it was so cheap. The Rep said that the Vin showed it to be a Mustang GT not a Shelby. No problem I say but this car is much more costly to replace then a regular GT and I wanted to know how it would work. Well I was told that it would be priced and replaced as a regular GT. I would like to know if anybody ran into this and how they handled this situation. I will worry about my coverage for full value, if and when the value exceeds what I paid for it. :unsure: Link to comment Share on other sites More sharing options...
SGT/SC#0471 Posted April 1, 2008 Report Share Posted April 1, 2008 Same happened here I faxed the window stickers and the policy reflects the added SAI items as an extra. No problems. Link to comment Share on other sites More sharing options...
07SHELBY GT Posted April 1, 2008 Report Share Posted April 1, 2008 I took it as a blessing.Never really thought about the possibilities of problems.I guess that was dumb. Link to comment Share on other sites More sharing options...
bluebyou Posted April 1, 2008 Report Share Posted April 1, 2008 So those of you who have your SGT insured to include the Shelby add-on costs, can we ask what your payments are? I'm paying $60 a month with State Farm for my '08 SGT but I'm not covered for the Shelby package and I live in Northern California. I know it's gonna go up when I upgrade but by how much? Link to comment Share on other sites More sharing options...
jwhite1967 Posted April 1, 2008 Report Share Posted April 1, 2008 Try Grundy.com Link to comment Share on other sites More sharing options...
timmyer Posted April 1, 2008 Report Share Posted April 1, 2008 $590.00 per year for my 07 SGT insured thru Grundy at $40,000. Link to comment Share on other sites More sharing options...
Hardluck33 Posted April 1, 2008 Report Share Posted April 1, 2008 $590.00 per year for my 07 SGT insured thru Grundy at $40,000. Depends on your state, NC residents can not get insurance through Grundy. My insurance told me to keep a copy of the SAI window sticker available as I ran into the same GT problem. State Farm was much better than my company was but it was a pain to move my house and everything over... Link to comment Share on other sites More sharing options...
ilmor Posted April 1, 2008 Report Share Posted April 1, 2008 It's my position that if I provide my VIN to my insurance co., and they insure the car, I expect them to cover the car. If I do get into an accident I can prove that everything my car has is original equipment, so they will be required to cover it. If I suggest to them that they should raise my premium, I'm sure they would be happy to! Link to comment Share on other sites More sharing options...
fatboy Posted April 1, 2008 Report Share Posted April 1, 2008 mine is through Shelter somewhere around $600 a year or so. not sure if the Shelby package is covered. i guess if its not and somethin happens to my car i'll just replace it with the Bullit Mustang :burnout: but i still prefer the SGT Link to comment Share on other sites More sharing options...
clark17357 Posted April 2, 2008 Report Share Posted April 2, 2008 It's my position that if I provide my VIN to my insurance co., and they insure the car, I expect them to cover the car. If I do get into an accident I can prove that everything my car has is original equipment, so they will be required to cover it. If I suggest to them that they should raise my premium, I'm sure they would be happy to! Interestingly, when I finally got AAA on board with my car (as in they acknowleged what it is and what it cost) they surpised me by not quoting a higher premium. While each of us will decide how best to approach it, getting into a hassel with your own insurance company about what is covered and what is not covered is a tough deal because, by definition, you have just been in an accident. Personally, I do not have any experience with arguing with my own insurance company (knock on wood) and hope to keep it that way. Jim Link to comment Share on other sites More sharing options...
SWEDEMAN Posted April 2, 2008 Report Share Posted April 2, 2008 Go with the cheaper rate, just dont get in a wreck! Sudden, now that was a stupid quote from you. Pay the higher money and get it replaced if you have an accident, bottom line. Sudden....what were you thinking? Link to comment Share on other sites More sharing options...
08SGT1188 Posted April 2, 2008 Report Share Posted April 2, 2008 My ins. co. told me that if the car was totaled they would pay market value for the car.He said market valve would be what the exact car or car of equal value would sell for at the time.He said i should add replacement cost to my policy.My sister had a 2007 mustang gt she paid 29,000 new.It was hit by another car not her fault the man's ins. paid her 22,000 for the car.That was market value at the time.To replace the car was going to coast 28,000 a difference 6,000.She had replacement cost on it so her ins. co. paid her the 6,000.She got a 2008 mustang GT.They accounted for everything on her car. Link to comment Share on other sites More sharing options...
IASHELBYGT Posted April 3, 2008 Report Share Posted April 3, 2008 It's my position that if I provide my VIN to my insurance co., and they insure the car, I expect them to cover the car. If I do get into an accident I can prove that everything my car has is original equipment, so they will be required to cover it. If I suggest to them that they should raise my premium, I'm sure they would be happy to! ilmor, Not to be disrespectful...But good luck with that, your dreaming! I hope you have a great agent because when the adjuster comes in to rate after an accident...look out! My wife deals with this on a daily basis. Your premium, unless stated differently in your policy, is based on your VIN and replacement cost minus depreciation as a Mustang GT. You can schedule the Shelby package on to the value or insure it for a stated amount, but if you hope to be covered for the Shelby upfit, you better do it now rather than after an accident. My wife says to all, read your policy carefully for limitations and exclusions. Dave Link to comment Share on other sites More sharing options...
dupuyf Posted April 3, 2008 Report Share Posted April 3, 2008 Sudden, now that was a stupid quote from you. Pay the higher money and get it replaced if you have an accident, bottom line. Sudden....what were you thinking? I WILL GET MINE THUR ( HAGERTY INSURANCE ) WAY CHEAPER AND COVER THE CAR AT YOUR COST ,WILL NOT LOSE MONEY IF IT IS TOTAL LOST FD Link to comment Share on other sites More sharing options...
rpretzel Posted April 3, 2008 Report Share Posted April 3, 2008 I insure my cars through Allstate. They have a "Stated Value" option. As long as you have all your receipts, they'll cover the car and modifications. It costs a little more, of course, but if you've dumped $15K or more into the car like I have, it's worth it. Link to comment Share on other sites More sharing options...
mywickedshelby Posted April 3, 2008 Report Share Posted April 3, 2008 Bingo pretzel. My insurance renewal just came up and I am pressing the issue as we speak. Link to comment Share on other sites More sharing options...
64peter Posted April 3, 2008 Report Share Posted April 3, 2008 I have USAA. My SGT/SC is Insured as a GT Premium with aftermarket modifications. If I wreck it I need to show USAA proof (reciepts) of the Shelby Mods for any compensation over the GT Premium. When I paid the Dealer for the Car I had him give me the original Shelby Invoice that Shelby used to bill the Dealer which shows the SGT package and cost. I also have the original reciepts from the Shelby Mod Shop. I hope I will never get to the point of needing to file a claim. Pete. Link to comment Share on other sites More sharing options...
gofastguy Posted April 3, 2008 Report Share Posted April 3, 2008 It's my position that if I provide my VIN to my insurance co., and they insure the car, I expect them to cover the car. If I do get into an accident I can prove that everything my car has is original equipment, so they will be required to cover it. If I suggest to them that they should raise my premium, I'm sure they would be happy to! EXACTLY! I was starting to think that everyone here had loads of cash burning a hole in their pockets. Insurance is expensive enough without begging the agent to give you a higher rate... Link to comment Share on other sites More sharing options...
69dejavue Posted April 4, 2008 Report Share Posted April 4, 2008 It's my position that if I provide my VIN to my insurance co., and they insure the car, I expect them to cover the car. If I do get into an accident I can prove that everything my car has is original equipment, so they will be required to cover it. If I suggest to them that they should raise my premium, I'm sure they would be happy to! Ilmoor, I am just curious what the insurance company would have to do. Could they say they insured the car as it was built from Ford as that is what the vin number is? I don't know but if you do not apprize them of a higher value would they have to pay more? Link to comment Share on other sites More sharing options...
IASHELBYGT Posted April 4, 2008 Report Share Posted April 4, 2008 Ilmoor, I am just curious what the insurance company would have to do. Could they say they insured the car as it was built from Ford as that is what the vin number is? I don't know but if you do not apprize them of a higher value would they have to pay more? NO, if you give the VIN alone to a standard carrier (State Farm, All State) coverage would only be only as a Ford Mustang GT cost new, less depreciation, unless you schedule it for "stated value". In that case they'll want to see an appraisal and or receipts for any modifications. Link to comment Share on other sites More sharing options...
Reino Posted April 4, 2008 Report Share Posted April 4, 2008 NO, if you give the VIN alone to a standard carrier (State Farm, All State) coverage would only be only as a Ford Mustang GT cost new, less depreciation, unless you schedule it for "stated value". In that case they'll want to see an appraisal and or receipts for any modifications. As someone posted in another forum earlier the VIN does indicate a Shelby GT and not just a Mustang GT. The VIN should indicates Shelby GT ("T82" in the VIN ). Therefore by giving them the VIN you are telling them its a Shelby GT. Ignorance is no excuse, even on the insurance companies part. Check your own VIN, the "T82" if for Shelby GT coupe according to this and other sites http://mustangattitude.com/cgi-bin/statsex...mp;f1=vinmatrix Link to comment Share on other sites More sharing options...
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