MYGT350 Posted May 2, 2010 Report Share Posted May 2, 2010 I am new to the forum and have just received notice that my 2011 Mustang GT Premium was built last week and is waiting shipment to La Vegas. My CSM is 114. I have the following two questions regarding insurance: 1. I realize that I will need to pay for the Mustang from my Ford dealer shortly as the car is in transit to Carroll Shelby's production plant. My questions is, do I need to buy insurance now when I pay off the Ford dealer, even though it could take 1-2 months until I receive my GT350? If I do not, and something happens to the car, am I responsible for the loss? 2. When I finally do receive my GT350, where is the best place to buy insurance? I was thinking of Grundy Worldwide because the car will be a lot more expensive than the original Mustang and the VIN will only show that it is a Mustang and not a Shelby. I want to insure the car for it's true value. I would appreciate any information on these two questions. I am very happy to be a TS member and the future member of a Shelby GT350. I really enjoy reading the forum each day. Thanks to everyone in advance. Link to comment Share on other sites More sharing options...
tony356 Posted May 2, 2010 Report Share Posted May 2, 2010 I am new to the forum and have just received notice that my 2011 Mustang GT Premium was built last week and is waiting shipment to La Vegas. My CSM is 114. I have the following two questions regarding insurance: 1. I realize that I will need to pay for the Mustang from my Ford dealer shortly as the car is in transit to Carroll Shelby's production plant. My questions is, do I need to buy insurance now when I pay off the Ford dealer, even though it could take 1-2 months until I receive my GT350? If I do not, and something happens to the car, am I responsible for the loss? 2. When I finally do receive my GT350, where is the best place to buy insurance? I was thinking of Grundy Worldwide because the car will be a lot more expensive than the original Mustang and the VIN will only show that it is a Mustang and not a Shelby. I want to insure the car for it's true value. I would appreciate any information on these two questions. I am very happy to be a TS member and the future member of a Shelby GT350. I really enjoy reading the forum each day. Thanks to everyone in advance. I already asked my agent those exact questions. This was his plan to be sure I am covered. We will insure the GT Mustang immediately when signing the agreement of sale with the ford dealer. As an aside, I will register the car in the state of Pa as a 2011 Mustang and pay my sales tax and get a state issued license plate. 2nd - When the car is finished at Shelby, I will have an agreed value poplicy for that car. This is a must!!! If your current provider will not allow you to purchase agreed value insurance, find another agent/company. I will insure the completed GT350 for 80k and evaluate this amout based on the market for these cars in the future. Aside - As soon as my state issued license plate comes in for the base mustang I can go to the dmv and get my personalized plate (CSM-111) so I can pack it in my luggage when I head to Vegas for delivery. I really hope you are right that it will only take 1-2 months to build the car in Vegas. I was told 3 months. I hate to miss the whole summer of driving waiting for her to get done. Congrats and good luck. Link to comment Share on other sites More sharing options...
MYGT350 Posted May 2, 2010 Author Report Share Posted May 2, 2010 I already asked my agent those exact questions. This was his plan to be sure I am covered. We will insure the GT Mustang immediately when signing the agreement of sale with the ford dealer. As an aside, I will register the car in the state of Pa as a 2011 Mustang and pay my sales tax and get a state issued license plate. 2nd - When the car is finished at Shelby, I will have an agreed value poplicy for that car. This is a must!!! If your current provider will not allow you to purchase agreed value insurance, find another agent/company. I will insure the completed GT350 for 80k and evaluate this amout based on the market for these cars in the future. Aside - As soon as my state issued license plate comes in for the base mustang I can go to the dmv and get my personalized plate (CSM-111) so I can pack it in my luggage when I head to Vegas for delivery. I really hope you are right that it will only take 1-2 months to build the car in Vegas. I was told 3 months. I hate to miss the whole summer of driving waiting for her to get done. Congrats and good luck. Link to comment Share on other sites More sharing options...
MYGT350 Posted May 2, 2010 Author Report Share Posted May 2, 2010 I already asked my agent those exact questions. This was his plan to be sure I am covered. We will insure the GT Mustang immediately when signing the agreement of sale with the ford dealer. As an aside, I will register the car in the state of Pa as a 2011 Mustang and pay my sales tax and get a state issued license plate. 2nd - When the car is finished at Shelby, I will have an agreed value poplicy for that car. This is a must!!! If your current provider will not allow you to purchase agreed value insurance, find another agent/company. I will insure the completed GT350 for 80k and evaluate this amout based on the market for these cars in the future. Aside - As soon as my state issued license plate comes in for the base mustang I can go to the dmv and get my personalized plate (CSM-111) so I can pack it in my luggage when I head to Vegas for delivery. I really hope you are right that it will only take 1-2 months to build the car in Vegas. I was told 3 months. I hate to miss the whole summer of driving waiting for her to get done. Congrats and good luck. Thank you for your reply. The information you provided will be very helpful. I also hope we do get our cars in that timeframe but availability of supplies and Shelby new car backlog will determine our fate. Congratulations on your car and best of luck. Link to comment Share on other sites More sharing options...
SoCalSGT Posted May 4, 2010 Report Share Posted May 4, 2010 Welcome to TS! You'll find a great source of info here and lots of people willing to help with just about anything you can imagine. The spectrum of knowledge here is immense...don't be afraid to use it. Now to your insurance question, there was a fairly lengthy discussion just recently in one of the other forum categories here about insurance - carriers, coverage etc. etc. Take a look around and I think you'll find some additional info that might be helpful. Congrats on your 350. John Link to comment Share on other sites More sharing options...
DubbsFaris Posted May 4, 2010 Report Share Posted May 4, 2010 Yeah, my car is already on my policy. Its only an extra 40 per month anyway... Link to comment Share on other sites More sharing options...
mywickedshelby Posted May 5, 2010 Report Share Posted May 5, 2010 this conversation brings back memories of when my and many SGTs were built in Dearborn as Mustangs by Ford and then shipped to LV for Shelby upfit via rail.... I say add it to the policy as soon as it is in transit to LV. .....better safe than sorry....these are rare and unique cars..... you dont want to mess it all up by trying to save a few bucks skipping insurance........ Link to comment Share on other sites More sharing options...
woodworking65 Posted May 5, 2010 Report Share Posted May 5, 2010 I am new to the forum and have just received notice that my 2011 Mustang GT Premium was built last week and is waiting shipment to La Vegas. My CSM is 114. I have the following two questions regarding insurance: 1. I realize that I will need to pay for the Mustang from my Ford dealer shortly as the car is in transit to Carroll Shelby's production plant. My questions is, do I need to buy insurance now when I pay off the Ford dealer, even though it could take 1-2 months until I receive my GT350? If I do not, and something happens to the car, am I responsible for the loss? 2. When I finally do receive my GT350, where is the best place to buy insurance? I was thinking of Grundy Worldwide because the car will be a lot more expensive than the original Mustang and the VIN will only show that it is a Mustang and not a Shelby. I want to insure the car for it's true value. I would appreciate any information on these two questions. I am very happy to be a TS member and the future member of a Shelby GT350. I really enjoy reading the forum each day. Thanks to everyone in advance. Go to Barret Jackson auction site-they have collector car insurance that beats them all. Sarge :happy feet: Link to comment Share on other sites More sharing options...
eagledriver Posted May 8, 2010 Report Share Posted May 8, 2010 +1000 for Barrett Jackson Ins. My KR and Bullitt are with them and the price is unbeatable by anyone. They have typical collector car stipulations such as mileage limits and such but price wise can't be beat. I think its around $500 per year 0 deductible and $85K stated value for the KR and $40K for the Bullitt. Link to comment Share on other sites More sharing options...
2COKEMAN Posted May 8, 2010 Report Share Posted May 8, 2010 I am new to the forum and have just received notice that my 2011 Mustang GT Premium was built last week and is waiting shipment to La Vegas. My CSM is 114. I have the following two questions regarding insurance: 1. I realize that I will need to pay for the Mustang from my Ford dealer shortly as the car is in transit to Carroll Shelby's production plant. My questions is, do I need to buy insurance now when I pay off the Ford dealer, even though it could take 1-2 months until I receive my GT350? If I do not, and something happens to the car, am I responsible for the loss? 2. When I finally do receive my GT350, where is the best place to buy insurance? I was thinking of Grundy Worldwide because the car will be a lot more expensive than the original Mustang and the VIN will only show that it is a Mustang and not a Shelby. I want to insure the car for it's true value. I would appreciate any information on these two questions. I am very happy to be a TS member and the future member of a Shelby GT350. I really enjoy reading the forum each day. Thanks to everyone in advance. As soon as you pay for it, you own it therefore you must have ins. then!! Link to comment Share on other sites More sharing options...
doc scott Posted May 9, 2010 Report Share Posted May 9, 2010 You need to get coverage for the "Shelby" portion of your car;too many companys could care less about your post-title conversion, I use Hagerty,several here use Grundy,and I hear Barrett Jackson is also cost effective.You need to insure your base GT as soon as you sign papers. Ask people at the Russo and Steele auction who was resposible in that fiasco!!(Your car, Your Problem!) Best of luck Doc Scott Link to comment Share on other sites More sharing options...
SoCalSGT Posted May 9, 2010 Report Share Posted May 9, 2010 Just a quick point of clarification: At least in California, your new car - the base model anyway - is automatically covered when you purchase it for a nominal period of time. This gives you time to contact your insurance company and add it to your policy. Most companies cover it for 30 days. The post title add-ons are a different matter, however, but those won't be a big deal until Shelby is done. Just an fyi. John Link to comment Share on other sites More sharing options...
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