ITHERTZ66 Posted January 30, 2013 Report Share Posted January 30, 2013 Since the supercharger is not factory, it appears that insurance companies feel they can charge outrageous premiums for this modification. My '65 Mustang was valued at $30K with Heacock for about $150/year (I have another car with them, so this one didn't need the liability again...). I asked for $30K on my GT-H when I got a quote and was surprised that it was around $400. WTF? Oh yea, 1000 miles, $500 deductible. That's quite restricted and the rate for those restrictions is unreasonable. I've never had a speeding ticket or an accident and I'm 38 years old. I got an email this morning from them stating that my rate would be $670 since they see now that I have a supercharger. Are you kidding me?? Is this normal be be gouged like this for modifications? Link to comment Share on other sites More sharing options...
ilmor Posted January 30, 2013 Report Share Posted January 30, 2013 Are you sure about those rates? Are they annual or 6-month rates? $150/year?? I'm with Hagerty, with a $28k value...$686/year....perfect driving record and 57 yrs old. $100/$300, $500 deductible. Shelby GT, not GT/SC. Link to comment Share on other sites More sharing options...
Doug_GT350 Posted January 30, 2013 Report Share Posted January 30, 2013 Are you sure about those rates? Are they annual or 6-month rates? $150/year?? I'm with Hagerty, with a $28k value...$686/year....perfect driving record and 57 yrs old. $100/$300, $500 deductible. Shelby GT, not GT/SC. that sounds closer.... I looked into Hagerty for my GT/SC and it was higher than that I deleted the email but mine was closer to $1000 a year. I don't remember the value I used but I think it was $35k, no tickets, no accidents, 57 yr old. Link to comment Share on other sites More sharing options...
mywickedshelby Posted January 30, 2013 Report Share Posted January 30, 2013 Im with Grundy, no mileage limit, they known the car is sc'd, stated value of 60k, $800 a year, no deductible. they covered me on my cross country trip (9000 miles across the US & back) and my cross continent trip to Europe! no tickets, no accidents, 48 yrs old Link to comment Share on other sites More sharing options...
pottydr Posted January 30, 2013 Report Share Posted January 30, 2013 I have Anpak's Chrome insurance, they came out a did a thorough inspection and valued my 07 SGT for 83,500 and I have to keep it in my garage and less than 10,000 miles a yr, cost is 450.00 a year, other members here also have the same insurance, It also depends where you live and how many cars you have insured with them Link to comment Share on other sites More sharing options...
ITHERTZ66 Posted January 30, 2013 Author Report Share Posted January 30, 2013 I have Anpak's Chrome insurance, they came out a did a thorough inspection and valued my 07 SGT for 83,500 and I have to keep it in my garage and less than 10,000 miles a yr, cost is 450.00 a year, other members here also have the same insurance, It also depends where you live and how many cars you have insured with them Wow, that's amazing. Great rate!!!! I will contact them. Troy Link to comment Share on other sites More sharing options...
William Rodgers Posted January 30, 2013 Report Share Posted January 30, 2013 More of it has to do with where you live than anything else. Being from NY and now living in MA I think the rates your quoting are really low. I just have my car insured as a Shelby GT, I never went through the hassle of getting it insured for more. Maybe I should, maybe not. Some of the amounts above to me are ridiculous, our cars are not worth close to that so why pay insurance for that amount? Maybe I am missing something. Link to comment Share on other sites More sharing options...
mywickedshelby Posted January 30, 2013 Report Share Posted January 30, 2013 More of it has to do with where you live than anything else. Being from NY and now living in MA I think the rates your quoting are really low. I just have my car insured as a Shelby GT, I never went through the hassle of getting it insured for more. Maybe I should, maybe not. Some of the amounts above to me are ridiculous, our cars are not worth close to that so why pay insurance for that amount? Maybe I am missing something. 07 Shelby GTs go for 22-25k now......if you are lucky....your car gets stolen....you are going to be happy with that pay off? I wouldnt be. regular insurance on a 6 year old mustang is going to be pretty disappointing if you ever need to make a claim..... and god forbid you get into an accident, they will just total the car since the value/pay off is so low. and my hassle for getting a stated value from Grundy involved me listing mods verbally over the phone, they never asked for paperwork...I had it to give, but they never asked to see it. and my stated value policy costs 50% of what Geico costs for a regular mustang here in NJ with full coverage..... so for me, it worked pretty well.... Link to comment Share on other sites More sharing options...
Rev Dennis Posted January 30, 2013 Report Share Posted January 30, 2013 Heacock here. Stated value of $42K for my 07 GT/SC. Around $700 a year and 3K miles limit. 250K/500K liability. I guess I need to look around. I live in a suburb in SE PA. Link to comment Share on other sites More sharing options...
William Rodgers Posted January 31, 2013 Report Share Posted January 31, 2013 07 Shelby GTs go for 22-25k now......if you are lucky....your car gets stolen....you are going to be happy with that pay off? I wouldnt be. regular insurance on a 6 year old mustang is going to be pretty disappointing if you ever need to make a claim..... and god forbid you get into an accident, they will just total the car since the value/pay off is so low. and my hassle for getting a stated value from Grundy involved me listing mods verbally over the phone, they never asked for paperwork...I had it to give, but they never asked to see it. and my stated value policy costs 50% of what Geico costs for a regular mustang here in NJ with full coverage..... so for me, it worked pretty well.... I think you guys got me convinced, I have the Shelby on my policy with my other cars and Home through MET. I drive less than 3000 miles a year, I might try a few of your companies. Do any of you from the North-east drop full coverage in the Winter? Link to comment Share on other sites More sharing options...
HARALD KELLEY Posted January 31, 2013 Report Share Posted January 31, 2013 Hagerty for my GT-H/SC with agreed value. I am sure your car will have more than 30K after you get her all done. You may want to reconsider the amount. Car has to be parked in a garage. Milage is not an issue as long as it is not a daily driver. You do have to provide photos and they check on milage every couple of years. May want to check them out. Link to comment Share on other sites More sharing options...
mywickedshelby Posted January 31, 2013 Report Share Posted January 31, 2013 I never drop the coverage in Winter.......I hear others doing it.....but I was never enticed......it just doesnt make sense to me. god forbid something happens where its stored or in your garage......you think your home onwers policy is going to cover it? think again. besides, I hope not, but it still could get stolen.......and then you have nothing. not a very smart move in my book to save a couple of hundred dollars. Link to comment Share on other sites More sharing options...
Blown Away Posted January 31, 2013 Report Share Posted January 31, 2013 I have Anpak's Chrome insurance, they came out a did a thorough inspection and valued my 07 SGT for 83,500 and I have to keep it in my garage and less than 10,000 miles a yr, cost is 450.00 a year, other members here also have the same insurance, It also depends where you live and how many cars you have insured with them I have the same as Rick, ANPAK. Because I live in Southern California and not Central like Rick, I pay almost twice as much, a little over $800 a year. So yes, much like size, location matters... But it is worth it to have peace of mind. Dan Link to comment Share on other sites More sharing options...
slbgtsc Posted January 31, 2013 Report Share Posted January 31, 2013 I had my car with state farm valued at $60 k cost was $950 a year 250/500/100 7k miles annually I have since moved it to allied for $500 a year same coverage . Going to switch to Hagerty so I can insure for an agreed amount . Link to comment Share on other sites More sharing options...
Doug_GT350 Posted January 31, 2013 Report Share Posted January 31, 2013 I never drop the coverage in Winter.......I hear others doing it.....but I was never enticed......it just doesnt make sense to me. god forbid something happens where its stored or in your garage......you think your home onwers policy is going to cover it? think again. besides, I hope not, but it still could get stolen.......and then you have nothing. not a very smart move in my book to save a couple of hundred dollars. my policy with Erie is a 9 month policy but the car is covered all 12 months... I just can't drive it Dec, Jan and Feb. I have to look into some of these other companies, like Michael said God forbid if something were to happen I wouldn't be happy with the payout! Link to comment Share on other sites More sharing options...
William Rodgers Posted January 31, 2013 Report Share Posted January 31, 2013 my policy with Erie is a 9 month policy but the car is covered all 12 months... I just can't drive it Dec, Jan and Feb. I have to look into some of these other companies, like Michael said God forbid if something were to happen I wouldn't be happy with the payout! That is what I was talking about, not dropping all coverage, just collision/comp, those are the 2 highest and if you do not drive the car they mean nothing. I should have been more specific. Link to comment Share on other sites More sharing options...
ShelbyDW Posted February 6, 2013 Report Share Posted February 6, 2013 I just signed up with ClassicUnderwriters.com. I've got the whipple package and a few more upgrades. I put a $50K agreed value on it with $300/500 coverage. Also a $500 deductable. Annual cost is $554.00 with annual milage at 7500/yr. Nice people. Link to comment Share on other sites More sharing options...
johnrehder Posted February 6, 2013 Report Share Posted February 6, 2013 Anpac wants to charge me 657.00 for six months! No thanks. I live in Douglasville Georgia. Link to comment Share on other sites More sharing options...
EL SHELBY Posted February 7, 2013 Report Share Posted February 7, 2013 Price for the coverage is one thing, but how helpful will any of the providers be when you need to file a claim? I know from hearing Andrew's story that Hagerdy will step up. I'm not saying the others will not, just that we all need to do our homework before signing up. Link to comment Share on other sites More sharing options...
Ford Fest Posted February 7, 2013 Report Share Posted February 7, 2013 I too have stated value, but talking to my agent this is NOT the amount I would receive if the car was a total loss, but rather the maximum amount they would pay out. After hearing this I would like to see if there is an insurance company that if my car is stolen or is a total loss do to damage that I received a flat rate payment lime with a life insurance policy. As we all know it is not always easy to find a similar replacement. Link to comment Share on other sites More sharing options...
ITHERTZ66 Posted February 7, 2013 Author Report Share Posted February 7, 2013 Ford Fest, That's what Agreed value is. Agreed value is what the collector insurance policies typically are. Stated value is not what you want if you want a guaranteed payoff in a total loss. Link to comment Share on other sites More sharing options...
JeffJ Posted February 7, 2013 Report Share Posted February 7, 2013 Price for the coverage is one thing, but how helpful will any of the providers be when you need to file a claim? I know from hearing Andrew's story that Hagerdy will step up. I'm not saying the others will not, just that we all need to do our homework before signing up. I can also vouch for Grundy. When I received some paint damage on the front, they came right out and gave me a check for enough to have my entire car stripped down and fully painted. They calculated for just the work to have the paint and stripes repaired and part replacement, but that came out to enough to have the entire car done by my paint guy. Link to comment Share on other sites More sharing options...
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