American Modern Insurance


thegtguy

*Supporting Vendor* GT Owner
Apr 20, 2006
552
MI
Everyone wants cheaper rates I understand that. But I can tell you from fixing as many cars as we have over the last 10 years that isn’t always the best way to go. If you take the daily driver car insurance carrier route you will more than likely have issues if and when you have a claim. I can’t say how many insurance carriers want to compare these cars to Mustangs, Corvettes, or something along that line. Not saying anything bad about those cars but they are not in the same “financial” league as our cars. They will only pay what they want and they do not care about you or your car most of the time, they just want the cheapest way out. I have argued with so many adjusters that now I usually just ask for management to come out the first time. Some of our customers ask “Why can’t you replace that part? Why won’t you paint that side of the fascia? Why won’t they pay to paint the stripes? Why won’t they replace the other tire to make them match on a 200mph supercar?” and so on. I have to tell them their policy didn’t cover that, then they have to spend hours on the phone with the adjuster after I have already spent hours on the phone arguing their case. Most of the time the owner will have to pay the extra to have the part changed or for the extra work the car deserves. Sometimes I think I spend more time on the phone with adjusters than it actually takes to repair the car. Another thing they don’t understand, or care about, is the process of how the car goes together. They try to tell us how long it should take to do a certain job when this is the first GT they have ever seen. “Well the book time on a Corvette is 20 minutes.”
Because of all of that it usually takes 4-6 weeks from the time we get the car to the time we get a check to start the repair.

The specialty insurance carriers are much better. Usually it is real simple. I write up a quote, we go over it together, they understand the value (financial and emotional) of the car and we come to a reasonable agreement for the repair, check is issued and then we can start the repair.

I have my personal GT through Drew, in case I ever have a need for a claim, hoping it will be a relatively painless process from an owners and repair shop point of view. No, I do not get an advertising or referral discount from Drew either, but that would be nice. :wink

Now back to fixing cars for me.
 

GTJack

GT Owner
Mark IV Lifetime
Le Mans 2010 Supporter
Oct 1, 2006
1,729
Saddlebrooke, MO
Drew and Rich. What. They. Said. Period.
 

Indy GT

Yea, I got one...too
Mark IV Lifetime
Jan 14, 2006
2,545
Greenwood, IN
Drew and Rich. What. They. Said. Period.

Exactly Jack!

Peace of mind and knowing Drew actually KNOWS what a Ford GT vehicle is, is certainly worth more than a couple hundred dollars on a premium.
 

KMCBOSS

RED GT owner
Mark II Lifetime
Dec 3, 2006
995
Bremerton, Washington
Anyone have any idea how much it might cost to insure a 2017 FORD GT?
 

GTJack

GT Owner
Mark IV Lifetime
Le Mans 2010 Supporter
Oct 1, 2006
1,729
Saddlebrooke, MO
Anyone have any idea how much it might cost to insure a 2017 FORD GT?

1% of value.
 

FENZO

GT Owner
Mark II Lifetime
Jul 7, 2008
1,518
Lafayette, CO
How many insurance policies do any of us have that do not increase year over year or every 6 months? I can tell you based on my knowledge of the industry many of our competitors are doing the same thing.

My premium for the GT with State Farm has consistently decreased over the years as with our other vehicles (except our BMW which has stayed the same, more or less :confused). I'm not sure if that is a good thing or not as I haven't checked with them recently about value, as in if they assume it is decreasing in value. Maybe I need to check.

Also, what is your policy on track days?

Granted I haven't checked with them about this for a while either, but it used to be as long as the event was not competitive or timed I was covered.
 

Drew@ClassicAuto

*Supporting Vendor*
Supporting Vendor
Jan 10, 2008
183
My premium for the GT with State Farm has consistently decreased over the years as with our other vehicles (except our BMW which has stayed the same, more or less :confused). I'm not sure if that is a good thing or not as I haven't checked with them recently about value, as in if they assume it is decreasing in value. Maybe I need to check.

Also, what is your policy on track days?

Granted I haven't checked with them about this for a while either, but it used to be as long as the event was not competitive or timed I was covered.

My gut reaction is that they are decreasing the premium because the car is getting older and they think the car is depreciating. That is typically how the standard auto policies work. However, that is just my initial reaction. I would definitely get them on record how they would adjust the claim in the event of a total loss.

As far as track activities our policy does not cover, whether timed or not. I would say in todays insurance environment the same whole true whether a collector or standard auto policy. I do have a contact if you track the car during the course of the year that might be able to help out. This is their website, ask for Ben Phillips (https://www.theopentrack.com/).
 

shelbyelite

PERMANENTLY BANNED
May 10, 2007
1
I'm not gonna write a long post, it's all been said. Only thing you need to know is that Drew and Classic are the best. I have many customers that insure with him and they have all been extremely happy.
 
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GKW05GT

GT Owner
Mark II Lifetime
May 28, 2011
2,785
Fayetteville, Ga.
My premium for the GT with State Farm has consistently decreased over the years as with our other vehicles (except our BMW which has stayed the same, more or less :confused). I'm not sure if that is a good thing or not as I haven't checked with them recently about value, as in if they assume it is decreasing in value. Maybe I need to check.

I have the same policy with State Farm and the rate at less than $900 a year is very attractive. After reading all of these posts I forwarded this thread to my agent and asked what would be the ACV of my car. I took it to him when it was new and he documented the condition at that time and I have detailed receipts since then and multiple pictures since documenting present condition and upgrades. He told me he would get back next week with an answer. The problem as stated earlier is the excess liability policy I carry requires all vehicles to be insured. Is the 1% Jack mentioned a good "ballpark" estimate for agreed value policy?
 

Sinovac

GT Owner
Mark II Lifetime
Jul 18, 2006
5,862
Largo, Florida
Having dealt with property damage claims for over 20 years, I would not insure a GT with any company other than a collector/specialty insurer for all the reasons stated above. The Allstates/State Farms of the world treat the GT just like any other fungible.
 

GKW05GT

GT Owner
Mark II Lifetime
May 28, 2011
2,785
Fayetteville, Ga.
State farm got back with me and are requesting a detailed appraisal of my car. I told them there is none in this area I'm aware of who could give an adequate appraisal but I will look around.
 

twobjshelbys

GT Owner
Jul 26, 2010
6,189
Las Vegas, NV
State farm got back with me and are requesting a detailed appraisal of my car. I told them there is none in this area I'm aware of who could give an adequate appraisal but I will look around.

Check with Shelby. Since he moves a lot of vehicles he can give you a replacement cost (which is what you want for insurance).
 

jrader1

GT Owner
Aug 16, 2006
41
Can't say enough positive about Drew and his company. He insures all my collector cars and motorcycles. He can insure just about anything at a great fee. My toys are pretty diverse and he has been able to insure it all. He is currently insuring the following for me:
2005 Ford GT
2006 Ford GT Heritage
2005 Bentley Continental GT
1966 Shelby GT 350H
1967 Shelby GT 500
1953 Ford F100 Hot Rod
1966 Corvette Convertible L79
1967 Corvette Coupe L71
1964 Buick Riviera Rat Rod
1938 Indian Chief
2007 Harley Davidson Deluxe
2008 Harley Davidson Crossbones
1947 Indian Chief
2006 Ducati Paul Smart
2012 Ducati Monster
 

JOEA2

GT Owner
Mark II Lifetime
Aug 16, 2007
355
STATEN ISLAND,NY/SEA GIRT,NJ
I had a Claim on my Z8 and Drew handled it flawlessly!

Joe