Classic Car Insurance for JZ Swaps ????
07-23-12, 01:27 PM
#17
1JZ Single SC400
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I will be calling State Farm back and giving Progressive and Philadelphia a call and see what they will cover. I do have the receipts for about 90 plus percent of the work and mods. I had State farm before, but when my stepkids started to drive, they advised me the kids had to be on their OWN seperate car and MUST have full coverage. With both of them just starting it was going to be nearly 400 a month for five cars. I thought this was insane!! Now I am with GEICO with all five, and the kids are covered in any of them. Only 260 a month.
Anybody else have any more info or pricing? Thanks for the input guys..
Anybody else have any more info or pricing? Thanks for the input guys..
07-23-12, 02:07 PM
#18
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My 1970 Plymouth Cuda, agreed value insurance at $145k if something happens to it. Annual cost is $900. No mileage limitations, just the understanding that it is not driven daily.
I had called them about my 84 Supra, have about $10k into it. They wouldn't cover it because I want to drive regularly. My insurance is with State Farm, $30 / month full coverage. They provided a letter that if something happens, I just need to provide reciepts for all the $$ invested.
Same with the SC400. Blue book is low, but I have reciepts for $$ spent on it. $39 / month full coverage.
I had called them about my 84 Supra, have about $10k into it. They wouldn't cover it because I want to drive regularly. My insurance is with State Farm, $30 / month full coverage. They provided a letter that if something happens, I just need to provide reciepts for all the $$ invested.
Same with the SC400. Blue book is low, but I have reciepts for $$ spent on it. $39 / month full coverage.
07-23-12, 02:41 PM
#19
Lexus Test Driver
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i just thought of something i should have realized before... this thread is better off in ur local regional section... prices will vary on location. forget about state to state... even if ur zipcode is a little different and u live down the street ur insurance price will be significantly different then mine.
my wifes parents have five cars one of them being a 64 cobra and in miami fl there insurance was 550 or so a month... they moved to nebo nc and there insurance for the same five cars went down to 120.
tht being said prices will vary depending on location, type of coverage, alram, lojack, garage, miles u drive, paperless discount..lol sorry i had to throw tht one in there.
my wifes parents have five cars one of them being a 64 cobra and in miami fl there insurance was 550 or so a month... they moved to nebo nc and there insurance for the same five cars went down to 120.
tht being said prices will vary depending on location, type of coverage, alram, lojack, garage, miles u drive, paperless discount..lol sorry i had to throw tht one in there.
07-24-12, 03:11 AM
#20
I looked into this when I bought my SC300 5-speed. I wanted a guarantee that I could insure it for at least the going market value (NOT KBB) and ideally the value I'd put into its modification and restoration. Hagerty doesn't work with cars that are used daily but they are very good for a garage queen that is seldom driven.
I ended up sticking with my then and now current insurance company with the understanding that in the event of loss, my receipts for work performed to the vehicle as well as the going market value for rarer 5-speed SC300's (which I proved to them with classified ads and production numbers) would be covered. I was prepared to turn right around and sell the car I'd just acquired if they weren't willing to work with me. Thankfully, they did.
The older, rarer and less driven your car is generally the better chance you have of insuring it commensurate with your actual investment into it.
All said, if we had more of these cars insured with less miles put on them through full coverage with actual appraised values I don't think they would total so easily any longer. Maybe we do need to wait until many of them survive to 25 years before that's possible.
Otherwise, agreed value policies are the only alternative.
I ended up sticking with my then and now current insurance company with the understanding that in the event of loss, my receipts for work performed to the vehicle as well as the going market value for rarer 5-speed SC300's (which I proved to them with classified ads and production numbers) would be covered. I was prepared to turn right around and sell the car I'd just acquired if they weren't willing to work with me. Thankfully, they did.
The older, rarer and less driven your car is generally the better chance you have of insuring it commensurate with your actual investment into it.
All said, if we had more of these cars insured with less miles put on them through full coverage with actual appraised values I don't think they would total so easily any longer. Maybe we do need to wait until many of them survive to 25 years before that's possible.
Otherwise, agreed value policies are the only alternative.
Last edited by KahnBB6; 07-24-12 at 03:14 AM.
07-24-12, 12:13 PM
#21
As mentioned by blk&blu*j and KahnBB6, get your car appraised by a professional. You will have to provide a list of mods with prices and photos. You will want to get an agreed value policy. I had my car appraised through SpeedOptions and have an agreed value policy with Rally Insurence. For the agreed value of $82,000 my premium is $1050.00 for 12-months. The down side is there is a track exclusion.....No coverage if I wreck it at the track
gadgetsc
gadgetsc
07-24-12, 12:51 PM
#22
The best value is to get the minimum insurance that you are comfortable with and plan on a swap if that situation ever occurs.
If you have full insurance you have to buy the car back if its totaled which is something to consider, but your new shell will be paid for.
The higher value agreed stuff is just too much money compared to the retail value of these cars.
If you don't crash for a few years you will be ahead in most cases, sometimes even sooner depending on the particular year/model.
now if you are one of those people where accidents seem to find you then by all means insurance up to the max.
If you have full insurance you have to buy the car back if its totaled which is something to consider, but your new shell will be paid for.
The higher value agreed stuff is just too much money compared to the retail value of these cars.
If you don't crash for a few years you will be ahead in most cases, sometimes even sooner depending on the particular year/model.
now if you are one of those people where accidents seem to find you then by all means insurance up to the max.
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