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Collector Car Insurance options?


art4tees
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Currently my 07 Shelby GT is covered under my GEICO policy with my other everyday car. I realize that if the worst did happen, they would only replace the value of an 07 Mustang GT, at least that is my understanding. I may be wrong, but for wthe low premium they are charging me, it must be true. I am spending $8,000.00 installing a supercharger, there by raising the replacement value of the entire vehicle. Does anyone here have Haggerty's, Heacock Classic or some other reputable reasonably priced classic car insurance that would pay full replacement value on such a car? Any advice or suggestions would be appreciated. Thanks!

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You may want to do a search on "insurance" as this has been discussed many, many times, but I have Grundy. I have been very happy with them even when I had a claim. I'm paying about $650 a year for $45K value. I should probably bump that a bit. On the same policy, I have my '65 insured and paying $85 a year. That is only for $6K value however.

Edited by JeffJ
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I have Grundy to supplement my State Farm policy on the 2011 GT350. Remember, that insurance on a "post title" Shelby like the GT350, Shelby GT and GT-H, etc. is different than on a Shelby Mustang GT500. The post title car is covered only for the Ford Mustang value, not the SAI alteration. My 1966 GT350 is covered fully by State Farm's classic vehicle policy because back them Shelby American had an MSO and its own VIN for the cars. Unfortunately many of the specialty insurance companies (Heacock, Grundy, Haggerty and others), set limits that may include no personal daily driver or business use, mileage restrictions, must be secondary vehicle (non-primary vehicle) and other annoying limitations. I do not know why when you can insure a much more valuable factory exotic or high horsepower vehicle and get standard policy coverage, but not a post title car.

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When I had my SGT, AAA covered it at 100% value because it's listed in the NADA book. The GT350 was a different story. They would only cover it for the value of a regular mustang so I had to find a specialty broker. Fortunately I found a great guy and the policy costs are what I would consider very reasonable for complete coverage. But as stated above, most of the major carriers will limit the type of driving and the annual mileage you can accrue.

 

John

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I use Hagerty. You can set you're own value and limits...and it costs less than the typical popular auto ins. companies.

 

 

 

 

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I have State Farm on my SGT (given it is a pre-titled modified car) and it is $650 a year in Chicago.

It is listed as a secondary car and must be driven less than 7,000 miles a year (I have a company car daily driver). Being stored in the winter makes the mileage requirement an easy goal.

When State Farm types the VIN into their system it is identified as a modified car and would be repaired/replaced as an SGT.

Down the road I may switch to Hagerty as SF has raised the rates in the last few years for no reason.

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I had Hagerty, insured for $50K and dropped them when they raised my rates to $1,300 per year. Right now it is insured on a standard policy for $562 per year, but am working with my agent to go with Grundy for an agreed value of $55K for $820 per year. Both Grundy & Hagerty had no deductible for Comp & Collision with limitations of no daily driver, and limits on mileage of about 3K per year.

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I use Hagerty. You can set you're own value and limits...and it costs less than the typical popular auto ins. companies.

 

 

I had Hagerty for the Cobra but when I asked about adding the GTS they wanted to limit it to 2000 miles, less than the Cobra was allowed. When the Cobra policy expired recently I switched to American Collectors through USAA. They'll accept the GTS and will allow 7500 miles, including work commuting. Cost was a little less than Hagerty.

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My 07 GT500 agreed value $35K with American Collectors is $325 a year. I have higher limits cause my regular policy has a $2 mill umbrella on top of American Collectors policy. I have alot of credits on this policy like multicar etc

Edited by mach 1 1970
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I had Hagerty for the Cobra but when I asked about adding the GTS they wanted to limit it to 2000 miles, less than the Cobra was allowed. When the Cobra policy expired recently I switched to American Collectors through USAA. They'll accept the GTS and will allow 7500 miles, including work commuting. Cost was a little less than Hagerty.

 

I have no mileage limit with Hagerty.

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My 07 GT500 agreed value $35K with American Collectors is $325 a year. I have higher limits cause my regular policy has a $2 mill umbrella on top of American Collectors policy. I have alot of credits on this policy like multicar etc

 

Are you sure that $325 is not for 6 months?

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Has anyone had success with Heacock Insurance or are they as limiting as Grundy and Haggerty?

I stopped by a Heacock table when I was at a show in Carlisle, they told me they can insure a Shelby, but they have a 2000 mileage limitation on it. When am doing insurance quotes, Hagerty quoted me 1400 a year with 5000 mileage limit, then grundy quoted me 600 a year without a mile limit Edited by ShelbyEra08
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Are you sure that $325 is not for 6 months?

Yes it is for 12 months. I used to own an independent insurance agency and we did commercial and personal insurance . I spent 30 years growing that corp and sold it and retired 5 years ago.My policy has a few credits like car club, brick home for storage,multicar and safe driver with perfect record + I have been with them for 15 years. Edited by mach 1 1970
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Yes it is for 12 months. I used to own an independent insurance agency and we did commercial and personal insurance . I spent 30 years growing that corp and sold it and retired 5 years ago.My policy has a few credits like car club, brick home for storage,multicar and safe driver with perfect record + I have been with them for 15 years.

 

 

Good deal!!!

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