Insurance for your modified toys

[MetallicaMatt]

I'm starting to think that I'm just going to insure the Vette through Hagerty. The previous owner dropped about $20k into it at East Coast Supercharging, as soon as he bought the car. Yeah...big bucks.

So I looked up the going rate for my car, stock, then have to factor in the extras that ECS installed. Obviously it would be cheaper to install myself, which I could, but if I'm going to get insurance, I might as well cover the installs too.

My WS6 is caged, only sees 1/4 mile passes and the 2 mile drive to the drag strip. I think I'll leave this as is, since I know if anything happens on the track, it's out of my pocket.

But what happens if I get T-Boned or something on the way to the track? Car is "totaled", but I have a cage in it? I'd just get KBB, right?

[Honda Nick]

Originally Posted by MetallicaMatt

But what happens if I get T-Boned or something on the way to the track? Car is "totaled", but I have a cage in it? I'd just get KBB, right?

In my city, you'd probably get a ticket for street racing, even if you were obeying all traffic laws and it was the other guy's fault. Any crash that involves a sports car is thought to be racing related.

[JUICED96Z]

Originally Posted by MetallicaMatt

I'm starting to think that I'm just going to insure the Vette through Hagerty. The previous owner dropped about $20k into it at East Coast Supercharging, as soon as he bought the car. Yeah...big bucks.

So I looked up the going rate for my car, stock, then have to factor in the extras that ECS installed. Obviously it would be cheaper to install myself, which I could, but if I'm going to get insurance, I might as well cover the installs too.

My WS6 is caged, only sees 1/4 mile passes and the 2 mile drive to the drag strip. I think I'll leave this as is, since I know if anything happens on the track, it's out of my pocket.

But what happens if I get T-Boned or something on the way to the track? Car is "totaled", but I have a cage in it? I'd just get KBB, right?

I know a guy here in town who had a race car untill the garage burned down with the car in it who had a good relationship with his local agent. He told him it was a race car but was just driven two miles to the track and two miles back. It was not insured to a lot but the agent was fine with what was done to the car.

If you get t-boned or something and the insurance agent comes out to look at the car then it is a 50/50 shot when they see things like the cage if you will get droped on the spot or not. The cage and harness is often what gets people. I am sure people have cut roll bar's and cages out after a wreck, just have to hope the agent or adjuster does not see the holes in the dash if it is a threw dash cage, or at least not think anything of it.


The 83 was maybe worth $1,500 stock because of it's condition and mile's, if it was in a bad wreck it would not have been worth the $1,500 or so to get it back to stock and swap in a stock SBC, I would have just droped the insurance on it and parted it out. On say an LS1 car that still has an LS1 in it if you have a spare stock motor laying around and other stock part's and the KBB value of your car is pretty high then busting butt that night to get it back to stock before the adjuster show's up would be worth it....... this will also keep you from having to buy the car back after they total it just so you can part out the mods...

Like I said, more often then not it is the cage's that bite ya.

[SSSLP2]

Last week changed from xxx ins. co.( had 500. deduck and would only pay KBB or something like )was paying 847.00 per year.
My agent said as SS was 10 years old, well cared for, low milege he moved it to
xxxx xxx Foremost ins. co. with 250. deduct, 20 k value( no book value) must watch milage ? all at 484. per year, if I wished to ins. for 25k payment would be 570.per year
Johnny

[MetallicaMatt]

I got quoted from Hagerty of ~$85/month for the vette, with a value of $50,000

Right now I just pay $40/month through State Farm, but that's during the summer...right now it's in storage so I'm paying $6/month...and I usually store for 5 months

What do you guys think?

[JUICED96Z]

For 50k that's not bad.

Is that year round even when stored?

[Phantom_LS2]

Has anyone heard of this: http://milemeter.com/

I put in all my info and it came out CHEAP!

[MetallicaMatt]

Originally Posted by JUICED96Z

For 50k that's not bad.

Is that year round even when stored?

yes. They don't lower the rate when I store it, it's always $85/month whether it's being driven or parked in my garage

[Jano4]

Originally Posted by MetallicaMatt

I got quoted from Hagerty of ~$85/month for the vette, with a value of $50,000

Even for $50k in coverage that seems really expensive for CC insurance. I was quoted $220 a year for $25k in coverage.

[JUICED96Z]

Originally Posted by Jano4

Even for $50k in coverage that seems really expensive for CC insurance. I was quoted $220 a year for $25k in coverage.

Hagerty tend's to be more because that is what they specialize in. I would trust Hagerty to give me a check for 50k over a major insurance company because with their client base being so much smaller they have a lot more to loose with an angry customer.