Bruce2009KR Posted February 7, 2018 Report Share Posted February 7, 2018 After modifying my GT500KR I'm required to inform my insurer, Hagerty. On another board I asked what insurance companies people were using and whether you're admitting to possible modifications that produce far more than stock horsepower. The answers were all over the board with many saying keep your mods hush. God forbid someone was injured from a modified Shelby it's foreseeable that a lawsuit could ensue and should the insurance company learn (and I'm sure they would dig) of the car being modified they could easily deny the claim. If you have a modified Shelby (or even a Super Snake or Shelby1000) are you covered totally and would you mind sharing your recommendations for a company that handles fully your property and liability insurance? Thanks very much. Quote Link to comment Share on other sites More sharing options...
twobjshelbys Posted February 7, 2018 Report Share Posted February 7, 2018 If you want the cost of the upgrade to be covered in case of a loss you should tell your insurance about the change in value. Quote Link to comment Share on other sites More sharing options...
andrewnagle1964 Posted February 7, 2018 Report Share Posted February 7, 2018 my experience with Hagarty is great, they know i have a Super Charger and they required photos The big no no with them was the Nitrous, they wouldn't insure it with nitrous In 2010 my first SGT was totaled and they paid the agreed upon amount and i acutally bought it from them for $3,500 Quote Link to comment Share on other sites More sharing options...
SoCalSGT Posted February 7, 2018 Report Share Posted February 7, 2018 I would be up front with them. You just don't want to jeopardize your liability or comprehensive coverage in case of an incident. Might raise the price a bit, but the peace of mind would be worth it I would think....IMHO Quote Link to comment Share on other sites More sharing options...
william strauch Posted February 7, 2018 Report Share Posted February 7, 2018 (edited) Since the build out of ours to the Hole Shot Pkg. 980hp we have had Grundy. The agreed value had to have receipts to be within the $150k that we wanted. The other was pictures and yes that included the trunk. That reason is as stated by another about Nitrous bottles. We live in a state with exempt plates and they come with restrictions. Same as our insurance, too and from car shows, car club events and repair shops. No daily driving. The other requirement was 100k and 300k coverage on all other vehicles. It does come at a cost $1875.00 a year, but what's the cost to replace it ? Edited February 7, 2018 by william strauch Quote Link to comment Share on other sites More sharing options...
jaydub2k Posted February 8, 2018 Report Share Posted February 8, 2018 My Grundy rate is a bit over half of the quote I received from Hagerty. Hagerty publishes magazines and performs other marketing activities that may increase their rates IMO. I have not had a claim experience. Quote Link to comment Share on other sites More sharing options...
william strauch Posted February 8, 2018 Report Share Posted February 8, 2018 Hagerty is not interested in insuring newer cars. They are primarily for the "classics". Grundy does newer cars and Barrett Jackson has an insurer that does newer cars also. Hagerty was 2 - 3 times what Grundy wanted to insure our Shelby. We'll be at this years bash. Quote Link to comment Share on other sites More sharing options...
Don Johnston Posted February 8, 2018 Report Share Posted February 8, 2018 I am using Grundy for my 2011 GT350 and find it then least restrictive and uses agreed value policy. For my 66 GT350, I use State Farm classic car insurance with agreed value coverage. SF cannot do late model special factory Shelbys as there is no production code for them. GT500 from Ford can be covered, not Shelby GT or any other converted Mustang. Only common thread for both insurance policies is Shelby cannot be primary use vehicle or daily driver. And there are some no no statements about racing. Quote Link to comment Share on other sites More sharing options...
mhr1961 Posted February 8, 2018 Report Share Posted February 8, 2018 4 hours ago, 66GT350PS said: I am using Grundy for my 2011 GT350 and find it then least restrictive and uses agreed value policy. For my 66 GT350, I use State Farm classic car insurance with agreed value coverage. SF cannot do late model special factory Shelbys as there is no production code for them. GT500 from Ford can be covered, not Shelby GT or any other converted Mustang. Only common thread for both insurance policies is Shelby cannot be primary use vehicle or daily driver. And there are some no no statements about racing. I have had my 2008 Shelby GT insured through State Farm since 2010 and it is fully covered as a Shelby GT and is insured as daily driver. Quote Link to comment Share on other sites More sharing options...
groop Posted February 8, 2018 Report Share Posted February 8, 2018 My Shelby is covered by a AAA policy as a Shelby GT500. Granted, it's stock so I don't know if they would cover it with all of the high horse mods. Hagerty covers some antique motorcycles and VWs that I have and they are all 'agreed value' policies. Never had an issue. I did give them the opportunity to insure the Shelby when I first got it, but the agent on the phone was questioning the amount of miles that I planned to drive, and since I had no idea at the time, she politely told me to go elsewhere. Hagerty seemed to be far more interested if it was a weekend show-car only. Quote Link to comment Share on other sites More sharing options...
Don Johnston Posted February 8, 2018 Report Share Posted February 8, 2018 Always check what the policy states. My 66 Gt350 has SA as the manufacturer (MSO) so it is a listed producer. The 11 GT350 is a Ford Mustang independently upgraded by SA, so State Farm will not give me the value, only liability as required by my State. In Hawaii, you have to have a registered local office for the required "no fault" basis policy. I uses supplemental policy by Grundy for the value. Quote Link to comment Share on other sites More sharing options...
william strauch Posted February 9, 2018 Report Share Posted February 9, 2018 On 2/7/2018 at 10:24 PM, 66GT350PS said: I am using Grundy for my 2011 GT350 and find it then least restrictive and uses agreed value policy. For my 66 GT350, I use State Farm classic car insurance with agreed value coverage. SF cannot do late model special factory Shelbys as there is no production code for them. GT500 from Ford can be covered, not Shelby GT or any other converted Mustang. Only common thread for both insurance policies is Shelby cannot be primary use vehicle or daily driver. And there are some no no statements about racing. That's a good statement about the little clauses in the policies. No timed events or track coverages are provided. Also, Grundy didn't have a mileage restriction and our Barrett Jackson gives you a choice. You can choose 1k,3k,or 5k miles a year. Of course pricing goes significantly up with more miles. We did save $250.00 a year over our Grundy ins. by going with the 1k program through BJ. Quote Link to comment Share on other sites More sharing options...
David Hawkins Posted February 9, 2018 Report Share Posted February 9, 2018 On 2/7/2018 at 1:05 PM, william strauch said: Since the build out of ours to the Hole Shot Pkg. 980hp we have had Grundy. The agreed value had to have receipts to be within the $150k that we wanted. The other was pictures and yes that included the trunk. That reason is as stated by another about Nitrous bottles. We live in a state with exempt plates and they come with restrictions. Same as our insurance, too and from car shows, car club events and repair shops. No daily driving. The other requirement was 100k and 300k coverage on all other vehicles. It does come at a cost $1875.00 a year, but what's the cost to replace it ? $1,875.00 a year? THAT'S ALL? That is just $10 more a Month than my 2015 V6 Mustang Fastback. No Tickets, No Wrecks, The ONLY Claim I had with State Farm is a Windshield for my Transit Connect Van 1.5 Years ago and I have been with State Farm since 1997. Quote Link to comment Share on other sites More sharing options...
Bruce2009KR Posted February 10, 2018 Author Report Share Posted February 10, 2018 (edited) UPDATE on Hagerty: They called me last night to discuss further my car, driving habits, etc. All was going well until I fessed up that although it's not competitive, I mentioned that the Shelby club I was involved with has a track day. Well, that changed his tone. He said unfortunately if that's something I want to do they would not be able to offer me full coverage; only comprehensive. I read above that even Grundy has language in the policy against any "timed events." So what do people do? Take a chance and not admit they occasionally may track their car!!?? Then the next search I guess is for some company that DOES insure fully your car even if you track it from time to time. It actully just occurred to me that one can purchase track insurance. I forgot about that. Edited February 10, 2018 by Bruce2009KR Quote Link to comment Share on other sites More sharing options...
Orion Posted February 11, 2018 Report Share Posted February 11, 2018 I got so sick of dealing with regular insurance I switched to Metromile. It's a device that plugs into my SGT's under-dash plug and keeps track of miles driven and location. I pay a flat fee each month, plus 7.6 cents/ mile. I was paying over $1600 with MetLife on a 100/ 300 policy and figured out I should be able to get my payments under $100/month. I have only been driving about 5,000 miles a year. My monthly payments average about $65. All you need is a modern car with that jack. And it lets me know if I'm parked in a street sweeping zone and I can always track the location of my car on the app and see how much gas is in the tank. It should work on all modern cars with the diagnostic port. Quote Link to comment Share on other sites More sharing options...
Bookwyrm Posted February 14, 2018 Report Share Posted February 14, 2018 On 2/10/2018 at 11:01 PM, Orion said: I got so sick of dealing with regular insurance I switched to Metromile. It's a device that plugs into my SGT's under-dash plug and keeps track of miles driven and location. I pay a flat fee each month, plus 7.6 cents/ mile. I was paying over $1600 with MetLife on a 100/ 300 policy and figured out I should be able to get my payments under $100/month. I have only been driving about 5,000 miles a year. My monthly payments average about $65. All you need is a modern car with that jack. And it lets me know if I'm parked in a street sweeping zone and I can always track the location of my car on the app and see how much gas is in the tank. It should work on all modern cars with the diagnostic port. Metromile's great for any car you don't drive often, or fast. Good luck with your claim if you EVER speed in the car, though. That little device tracks driving behavior, too and they built a lot of loopholes for themselves into their fine print... Quote Link to comment Share on other sites More sharing options...
Orion Posted February 16, 2018 Report Share Posted February 16, 2018 On 2/13/2018 at 4:23 PM, Bookwyrm said: Metromile's great for any car you don't drive often, or fast. Good luck with your claim if you EVER speed in the car, though. That little device tracks driving behavior, too and they built a lot of loopholes for themselves into their fine print... I've read my contract and don't see anything saying that their Pulse device tracks your speed. Are you referring to another company's device? I know others monitor the speed and reward policy holders who stay within legal limits, but Metromile doesn't do this because it doesn't track speed, just miles driven. Any wreck you have while speeding will be pretty evident to the adjuster (or the police taking the accident report) once they inspect the car. Quote Link to comment Share on other sites More sharing options...
The Chairman Posted February 21, 2018 Report Share Posted February 21, 2018 On 2/10/2018 at 11:12 AM, Bruce2009KR said: UPDATE on Hagerty: They called me last night to discuss further my car, driving habits, etc. All was going well until I fessed up that although it's not competitive, I mentioned that the Shelby club I was involved with has a track day. Well, that changed his tone. He said unfortunately if that's something I want to do they would not be able to offer me full coverage; only comprehensive. I read above that even Grundy has language in the policy against any "timed events." So what do people do? Take a chance and not admit they occasionally may track their car!!?? Then the next search I guess is for some company that DOES insure fully your car even if you track it from time to time. It actully just occurred to me that one can purchase track insurance. I forgot about that. I use Grundy for my basic (stated value) policy, and get an event-specific policy for HPDEs (like Lockton). I had previously used Hagerty, but their rate nearly tripled a few years ago on my GT500KR. When I called and asked why, they said any car over 500 horsepower was considered an “exotic” and those rates were considerably higher. So I checked around and went with Grundy at a reasonable rate. Quote Link to comment Share on other sites More sharing options...
Bookwyrm Posted February 21, 2018 Report Share Posted February 21, 2018 On 2/15/2018 at 6:43 PM, Orion said: I've read my contract and don't see anything saying that their Pulse device tracks your speed. Are you referring to another company's device? I know others monitor the speed and reward policy holders who stay within legal limits, but Metromile doesn't do this because it doesn't track speed, just miles driven. Any wreck you have while speeding will be pretty evident to the adjuster (or the police taking the accident report) once they inspect the car. Perhaps they've changed it from when I was looking at them. It was definitely in the fine print about the device utilization at the time (this was several years ago now). I can guarantee if it's still a device that connects to the OBD port that they can track very thorough usage details of the car, however, whether they're utilizing that data or not (possibly without telling you) is another question.. Quote Link to comment Share on other sites More sharing options...
twobjshelbys Posted February 22, 2018 Report Share Posted February 22, 2018 Just got a renewal for our daily drivers with a 50% rate hike, so shopping around. All of them want to give you something that monitors driving. No way. Quote Link to comment Share on other sites More sharing options...
stngfever Posted February 22, 2018 Report Share Posted February 22, 2018 No way would I agree to any device that monitors or plugs into ODB on car! I switched my SGT to Grundy 2 years ago with nearly half the cost I was paying, with my current renewal was asked about daily vehicles and if they could quote, wouldn't you know it it too is cheaper with better coverage! Better coverage includes agreed value on all vehicles (06 F-150, 09 Focus, 12 Escape, and 07 SGT), road side assistance, towing, car rental, etc... with an annual savings just over $900! Quote Link to comment Share on other sites More sharing options...
Orion Posted February 22, 2018 Report Share Posted February 22, 2018 I switched to Metromile because it was miles-based. It doesn't track how fast or quickly I go. From their website: "The Metromile Pulse securely counts your miles to determine your total monthly bill. Pay-per-mile insurance doesn’t consider other driving factors such as how fast you drive or how hard you brake, just how many miles you drive. We take privacy seriously, and will never sell your information to third parties." This insurance is not for everyone. But I think it's unfair to insinuate that they are tracking your actions. And by using the device I can see where my car is at all times on the app. I can also see my trips and routes, which would be useful if you have children, as well as mpg, any engine codes, and if my car is parked in a street sweeping zone. I was on vacation in Hawaii and could tell that my car was safe at home, with a half tank of gas. Quote Link to comment Share on other sites More sharing options...
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