Who do you have your GT 350 Insured by?

[Bandit1]

Who do you have your GT 350 insured by? I was recently informed that my insurance would only insure the car at the Mustang GT MSRP. Any help find insurance would be greatly appreciated.

[tony356]

Who do you have your GT 350 insured by? I was recently informed that my insurance would only insure the car at the Mustang GT MSRP. Any help find insurance would be greatly appreciated.

 

 

I use Westfield Insurance but I don't think they are west of the Mississippi. You really only need to find a carrier that will insure at agreed value. I send copies of my car and shelby invoices to my agent and purchased agreed value. I believe leland west and haggerty have agreed value collector car insurance programs.

 

I insured my car as a 5.0 from the day it arrived in Vegas and had my policy switch to agreed value right before I picked up the car.

 

Good luck.

[SPRSNK]

Grundy for a value of 125k on the GT350. I have all 4 Shelby's insured through them and pay 2600/yr

[twobjshelbys]

You're going to need a "stated value" policy since, as you have observed, most standard policy writers will only insure the base value of the vehicle. Grundy is one. I insure my Shelby GT and Cobra through Chartis, which is branded as Barrett Jackson (I got my policy before that happened). You can get info from the Barrett Jackson web site The agency that represents the Chartis/BJ insurance is a full-service agency, and I moved all of my other automotive, homeowners and umbrella to Auto-Owners through them for a 1/3 savings on just those policies.

 

You will find that the specialty insurance companies will want mileage limits. I get 5000 miles a year on each although I've heard others say that they are now quoting 3000.

[DubbsFaris]

I have mine insured through Grundy for 100K. The nice thing about Grundy is they dont have a maximum mileage allowance. Get it and forget it. Only thing is they dont allow ANYONE under age 25 to drive your car. PERIOD. If you have a teenager or 20 something kid, you better hide the keys.

[shelbymotorsports]

Also keep in mind that most collector car insurance policies forbid the use of the car as a daily driver. Meaning no commuting to work in the car, not even just one time to show your co-workers as the insurance company may deny any claim if something was to happen.

 

Steve

[Bandit1]

Thanks for the information.

[gators196]

Grundy for a value of 125k on the GT350. I have all 4 Shelby's insured through them and pay 2600/yr

 

 

I called Grundy today and they said you cannot insure for more than you paid. Also they said a 100K policy is $1400/yr. Is this high? no violations on my record and I am 37.

 

Any advice would be greatly appreciated.

[tony356]

Make sure you don't purchase limited tort coverage. Do not give up your ability to sue if some damages your car and in uninsured or under insured. It looks like getting real value on a claim for these limited edition cars is very difficult when you have to make a claim. See if your state allows for diminished value. Unfortunately Pennsylvania does not allow for this without litigation which in most cases would cost more than the diminished value in the end. Don't buy cheap here - buy the best coverage available

[twobjshelbys]

I called Grundy today and they said you cannot insure for more than you paid. Also they said a 100K policy is $1400/yr. Is this high? no violations on my record and I am 37.

 

Any advice would be greatly appreciated.

 

 

Try the Barrett Jackson (Chartis). Contact info at the BJ site.

[39Mustang]

Grundy for a value of 125k on the GT350. I have all 4 Shelby's insured through them and pay 2600/yr

 

 

I would second that notion on Grundy! Have all mine insured by them at the price I want and only once did I ever have a claim which they took care of right away with no hassle unlike those idiots at Progressive

[twobjshelbys]

Honestly, you need to stay away from the Progressive and Geico and State Farm and all the other daily driver policy writers. When push comes to shove, they will not put a car like this back together. The collector car space, while it might limit annual mileage (I come nowhere near putting 5000 miles on both the Shelby and Cobra let alone that much on one). My coverage is about 800/year for both from Chartis and that includes the mandatory 100/300 regular driver policy plus the stated loss. 2600 seems quite high.

[Sherri Leicht]

I have 2 40ths and 1 vette on Grundy and it is around 2400 annually.

[DubbsFaris]

I called Grundy today and they said you cannot insure for more than you paid. Also they said a 100K policy is $1400/yr. Is this high? no violations on my record and I am 37.

 

Any advice would be greatly appreciated.

 

 

That is the exact same I paid. It doesnt matter what your age is. They charge a flat 1.4% for coverage for your first car, and then give you discounts on multiple cars. No costs or wierd formulas, and no mileage restrictions, but you cant be driving it daily, or running errands, which means if you have an accident, you were "taking it for a cruise", regardless of what you were really doing.

 

I dont understand the "cant insure for more than you paid comment." Agreed value is agreed value. If you insure it for 100k, you get 100k.

[ShelbyEra08]

I have mine insured through Grundy for 100K. The nice thing about Grundy is they dont have a maximum mileage allowance. Get it and forget it. Only thing is they dont allow ANYONE under age 25 to drive your car. PERIOD. If you have a teenager or 20 something kid, you better hide the keys.

 

 

Actually the 25 year old limit isnt really true. I am 23 and my father has a streetrod insured by Grundy, a few summers ago, we talked to a Grundy agent at a car show asking how much would it be more if I was added to the policy, then they said something like if the person had a good driving record and provide the proof the policy would not increase. I have a perfect driving record, so now I am on the policy with no increase in the monthly payments.

[DubbsFaris]

Okay, but my policy and the agent I spoke with warned me that MY policy will not insure anyone under the age of 25. I guess exceptions can be made after all.

[Torch40]

That is the exact same I paid. It doesnt matter what your age is. They charge a flat 1.4% for coverage for your first car, and then give you discounts on multiple cars. No costs or wierd formulas, and no mileage restrictions, but you cant be driving it daily, or running errands, which means if you have an accident, you were "taking it for a cruise", regardless of what you were really doing.

 

I dont understand the "cant insure for more than you paid comment." Agreed value is agreed value. If you insure it for 100k, you get 100k.

 

 

How about track time?

[MMcGuirk]

How about track time?

 

 

Track day insurance -

 

http://www.wsibinsurance.com/index.shtml

[ShelbyEra08]

Okay, but my policy and the agent I spoke with warned me that MY policy will not insure anyone under the age of 25. I guess exceptions can be made after all.

 

 

All tho like I said its a streetrod, they might not make that exception with a Muscle car....who knows never hurts to ask

[09 Red GT500]

Track day insurance -

 

http://www.wsibinsurance.com/index.shtml

 

 

Just curious, about how much is this insurance for a weekend event?

[DubbsFaris]

How about track time?

 

 

 

My understanding is as long as you are not racing, (timed competition) your policy should cover you.

 

An event with track driving is different than racing.

[slbgtsc]

Honestly, you need to stay away from the Progressive and Geico and State Farm and all the other daily driver policy writers. When push comes to shove, they will not put a car like this back together. The collector car space, while it might limit annual mileage (I come nowhere near putting 5000 miles on both the Shelby and Cobra let alone that much on one). My coverage is about 800/year for both from Chartis and that includes the mandatory 100/300 regular driver policy plus the stated loss. 2600 seems quite high.

 

 

Geico and Progressive won't touch a Shelby. However, State Farm will do stated value on classic cars and new cars like the GT350, Shelby GT. You have to let your agent know what the value is, what mods have been done etc. I several clients with classic cars, vettes, shelbys etc all insured for stated values. My SGT is insured for $60k and it is my daily driver.

 

The one thing you need to remember is keep your receipts and document with your agent what you have and what it would cost to replace.

[IASHELBYGT]

Track day insurance -

 

http://www.wsibinsurance.com/index.shtml

 

You would have to go this way because all other policies have no coverage for racing of any kind. Any damage at the track would be on your dime.

[DubbsFaris]

Well, yes and no- racing is not covered under any TIMED or COMPETITION event, but things like the bash and mid america are neither, so you should be covered. If you do have an accident out there, you could just say it happened on the street though. I see no reason to provide that information. If you hit a curb or a ditch, it could just as easily happen on a road as on a track, but the only thing you can hit on the track is a cone unless you are driving like a douche and go careening into a wall.

[IASHELBYGT]

Well, yes and no- racing is not covered under any TIMED or COMPETITION event, but things like the bash and mid america are neither, so you should be covered. If you do have an accident out there, you could just say it happened on the street though. I see no reason to provide that information. If you hit a curb or a ditch, it could just as easily happen on a road as on a track, but the only thing you can hit on the track is a cone unless you are driving like a douche and go careening into a wall.

 

I'm simply saying that racing is an exclusion in any auto policy for coverage. I disagree with your anaolgy of the situation and so does my wife who has been selling insurance for 20 years. Racing exclusions often talk about a sanctioned event. It might be hard for you to make the argument that running on the track at SAI is not a sanctioned event. You have driver training, different classes for driver experience and regulations for safety equipment. It might not be a TIMED event, but I think you'd have an uphill battle getting a company to pay the claim. Now if you misrepresented where the damage occured, like your alluding to then I guess your okay. In that case it's only insurance fraud, but whatever.