insurance suggestion
- Thread starter tpraceman
- Start date
fjpikul
GT Owner
H
HHGT
Guest
Spirit
Heritage GT Owner
$1,095.40 per year premium for Ford GT.
Renewed less than 30 days ago.
$1,000.00 deductable if a collision loss.
$250.00 deductable if an uninsured motorist loss.
Renewed less than 30 days ago.
$1,000.00 deductable if a collision loss.
$250.00 deductable if an uninsured motorist loss.
donnymac
Defered Ajudication
Question - is there an agreed value coverage that would pay full agreed value no matter how small or big the ding? This would eleiminate body shop and insurance company manuvers which we all despise.
I just love insurance. :ack
I just love insurance. :ack
Neilda
GT Owner
Agreed value is (over here anyway) only applicable when the car is a loss (stolen or scrapped). Agreed value policies normally let the policy holder choose the repair shop too. So if it's a ding you can take it to the GT people rather than the Nissan people.
B O N Y
MODERATOR & FGT OWNER
Donny,
With collector car insurance they understand how special the automobile is and that you can't be expected to take it to Macco or Earl Sheib. Try our forum sponsor as DBK suggested.
With collector car insurance they understand how special the automobile is and that you can't be expected to take it to Macco or Earl Sheib. Try our forum sponsor as DBK suggested.
mlane
FORD GT OWNER
I'm paying $1200 per year (Allstate) after an original quote of $3200. I received a competive quote from AAA ($2800) and told Allstate I was switching. They came back at me with better coverage and a lot cheaper.
- Jan 10, 2008
- 183
They've never really posted, but I got a cheaper quote from Classic Auto Insurance than I did from my old State Farm.
Contact fellow GT Owner Drew @ drew@classicins.com
Tell them you are a forum member and they should get you a good deal.
Dave/Bony -
Thanks for the posts. I would be happy to help any of our fellow GT owners with a quote for their GT's or other collector cars. Just did a couple policies for a fellow owner for his 2 GT's. I am able to offer a 20% discount to those customers that have 2 or more cars valued at $151k and above. Our GT only rates are very competitive and the coverage is agreed value. We also package free roadside assistance in our policies. Includes flat bed towing etc. Repairs to all cars on the policy are done at the shop of your choice. Let me know how I can help.
Thanks,
Drew
GT35065
GT Owner
I am paying $900.00 a year with State Farm, no tickets, no accidents, 11 cars and two bikes with them. They cover additions to the car as long as you have receipts. They would pay at replacement cost, but I'm sure my idea and their idea of replacement might differ. Wouldn't be that hard to show them comparable sales from Shelby and other dealers. My coverage is $1000 deduct for collision, 50 for comp (window chips etc.)
and I carry 100/300 liability, which State Farm requires with my umbrella.
Rick
and I carry 100/300 liability, which State Farm requires with my umbrella.
Rick
Last edited:
Drew thanks for chiming in.
Please look at Spirit's post #13 and tell us what you think.
Our dear friend just recently had a misfortune where someone rear ended him and took off so he is going through what all of us hope never happens to us but then again one never knows......
- Jan 10, 2008
- 183
The post was pretty accurate. My experience has shown that most claims involving UM and your vehicle are covered under collision. However, as stated in the post, some states refer back to the um coverage, so carrying a high limit is crucial in those states.
Every state has different insurance laws and not all insurance policies are obviously apples to apples. I have talked to a few owners today and I told them that discussing insurance in a forum is tough, because not everyone carries the same coverage.
You have to ask yourself do you live in the same state, do you carry the same liability/um, or do you have agreed, acv, or stated amount policies? Many consumers do not even see the need to carry um/uim which in some states with high percentages of uninsured motorists, you are asking for trouble. We always say if you are a homeowner, carry at least 100/300 for BI & UM. I am sure many of you have umbrella policies, but for those that do not, it is wise to never dip below that level.
What state you live in makes a huge difference as well. Most states are pro consumer in insurance law, but you never know what a dumb legislator puts into law. Sometimes you get a law that looks pro consumer, but makes it tough on an insurance company to do business, thus you get decreased competition and less insurance choices.
The bottomline, as Bony stated, read the policy! Agreed value is the best policy for collector car owners. Stated value is second best (usually reserved for newer exotics - however we can offer GT owners agreed) and ACV is usually the worst. Although, a good adjuster always makes the difference, but they are a dime a dozen. Most policies come with a table of contents at renewal and it is pretty easy (for the most part - some will question this statement) to find quick answers.
My two cents based on my experience with collector policies only! Hopefully I answered your question somewhat. It is late and I have 10 month old triplets, so my brain is fried by the time they go to bed.
Cyclenirvana
GT Owner
It appears that Classic Auto Insurance does not cover any cars under 25 years of age in the state of North Carolina? Adverse state laws? I assume this means that the modern Ford GT in North Carolina is out?
I currently pay almost $1000/year for coverage for my GT through State Farm.
I currently pay almost $1000/year for coverage for my GT through State Farm.
- Jan 10, 2008
- 183
You are correct. Historically it has been a very tough state to file an insurance program in. They did a refiling of the rates there a few years ago and could not get the exotic program filed. We do however have the ability to do all year cars in South Carolina.
TACHY
GT Owner
If you currently have State Farm, stay with them. Can (unfortunately) attest: they will honor current market value, after market add ons, , and credit title and registration cost, and credit rental car if not utilized. Then they will (at least in my case) "elect not to renew" the policy. Could do a lot worse!
TACHY
TACHY
Just wanted to post that I spoke to Drew from Classic Auto Insurance about coming up with qoutes for all my vehicles. He was very knowledgible and friendly. I enjoyed talking to a fellow GT owner and will keep my fingers crossed that he can improve on my current rates. Nice to not have to explain that no it is not a Mustang but the supercar.
Classic Auto Insurance
Gentlemen,
I had an interesting and most unpleasant experience with the E-surance last week. This Internet insurance company had insured my Ford GT from the day that I purchased it at excellent rates and I was very happy with them. I have not had a ticket, an accident, or an at fault insurance claim in over 25 years.
So I get an e-mail from E-surance 10 days ago telling me that my insurance is canceled and I am no longer covered. :eek OK.......what's the deal with that? My current annual premium to insure my GT with them was $890 per year. Payments were set up to be paid automatically via credit card.
E-surance has since decided they don't want to insure Ford GTs or GT500s but Arizona law prohibits them from canceling existing policies except for nonpayment. So they didn't pull my payment, and didn't notify me until my policy had expired and the seven day mandatory grace period had elapsed. On the eighth day when there was nothing I could do about it, they sent me an e-mail telling me that I was canceled for nonpayment. NICE!! When I call them they told me that my old policy could not be reinstated and that I couldn't get a new policy because they don't want to insure Ford GTs anymore. So I asked the nice lady why they didn't just call me and tell me that they didn't want me to renew? What a Mickey Mouse way at getting rid of policyholders and policies that they don't want.
Needless to say I have canceled all other policies with E-surance and they have seen the last of me.
But as Albert Einstein once said, "In the middle of every difficulty, lies opportunity." So I called Drew at Classic Auto Insurance. I now have five automobiles insured with him and he saved me about $3000 per year!! :thumbsup Very easy to deal with, and the entire transaction was most pleasant. I'm going to have him insure my motorcycles as well.
Chip
Gentlemen,
I had an interesting and most unpleasant experience with the E-surance last week. This Internet insurance company had insured my Ford GT from the day that I purchased it at excellent rates and I was very happy with them. I have not had a ticket, an accident, or an at fault insurance claim in over 25 years.
So I get an e-mail from E-surance 10 days ago telling me that my insurance is canceled and I am no longer covered. :eek OK.......what's the deal with that? My current annual premium to insure my GT with them was $890 per year. Payments were set up to be paid automatically via credit card.
E-surance has since decided they don't want to insure Ford GTs or GT500s but Arizona law prohibits them from canceling existing policies except for nonpayment. So they didn't pull my payment, and didn't notify me until my policy had expired and the seven day mandatory grace period had elapsed. On the eighth day when there was nothing I could do about it, they sent me an e-mail telling me that I was canceled for nonpayment. NICE!! When I call them they told me that my old policy could not be reinstated and that I couldn't get a new policy because they don't want to insure Ford GTs anymore. So I asked the nice lady why they didn't just call me and tell me that they didn't want me to renew? What a Mickey Mouse way at getting rid of policyholders and policies that they don't want.
Needless to say I have canceled all other policies with E-surance and they have seen the last of me.
But as Albert Einstein once said, "In the middle of every difficulty, lies opportunity." So I called Drew at Classic Auto Insurance. I now have five automobiles insured with him and he saved me about $3000 per year!! :thumbsup Very easy to deal with, and the entire transaction was most pleasant. I'm going to have him insure my motorcycles as well.
Chip
Neilda
GT Owner
Chip, that sounds a friggin' nightmare - can you report them to the authorities for malpractice?