Gents -
Shelby is right. The GT, just like any newer exotic is a higher risk for most auto carriers. The loss stats show higher claims ratio on newer exotics than the older antiques. Keep in mind, most standard insurance carriers (your USAA, State Farm, Allstate, etc) rate the car as if you would be driving it everyday (even if you tell them you do not). Their rate filings are not setup like a collector car program is. Now I have told a lot of people on this forum that comparing insurance premium vs another is never apples to apples. So many different factors go into rate (age, location, year of car, value you want to insure, mileage plan, etc).
Our agency feels the GT is a good risk for us (knock on wood). We own one, so we understand the unique aspect of the car. Ours is not a huge risk, only has 280 miles (I am sure I will hear about that). However, for the guys/gals on this forum that we have taken care of, we have tailored the policy to get you the best rate based on your driving habit for the car. Our prices have averaged $1100 to $1400 depending on some of the factors mentioned above. For those of you with more than just the GT as a collector car, we have collection discounts available as well, which makes the premium even more competitive.
A few risks you take between the collector policy and keeping it insured with a standard carrier. One, how are they going to pay you out if the car is totaled? On Actual Cash Value, Wholesale, or Full Retail. Our program is Agreed Value for GT owners. The value we agree on at policy inception is what you are paid. Now I know some of you drive the car on a daily basis, you are not a good fit for our program. Thus regular auto coverage suits you the best. We are flexible in mileage plans; 1000, 3000, and 6000 (unlimited in some states as well). We like this tier, as it is priced to your driving habits.
Noticed that many of your posts were from owners in California. We have a really great filing in CA that has been beneficial to those with multiple collector cars and stand alone GT. We also offer Special Client Services through AIU for you Californians that could be of service to you given the brush fire/earthquake risk. You can put all of your property on one policy (homes, regular use cars, jewelry, boats, collector cars, etc). Let me know if any of you have interest on that program.
In the meantime, if you want a no obligation quote from me, call me at 800-397-0765 or you can email me at
drew@classicins.com. Would love to help if we can. Any further questions/thoughts, you can PM me as well.
