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  #1 (permalink)  
Old 03-07-2018, 01:04 PM
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Default Safeco insurance

Folks,

Ive been looking for insurance for my new Cobra. I want the freedom to drive the car whenever and wherever I want and with an agreed value.

Safeco is the only company I have found that meets these requirements. Before I sign up Id like to know what experiences you Cobra owners have had with Safeco.

Thanks,
John
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  #2 (permalink)  
Old 03-08-2018, 08:05 AM
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Interesting to read this.

I`ve been with Safeco for my truck and house for about 6 years now.

I got my Cobra on the road in September last year (2017). I called them for an auto ins. quote and was told they can`t insure my vehicle cause they don't have any listings on how to insure a kit car/assembled vehicle.

I ended up going with Infinity ins. for an agreed value policy of $50K for $436 yr.

Keep in mind, I`m in Texas.
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Old 03-08-2018, 09:12 AM
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I have a stated value policy with Midwest Classic Insurance. They specialize in classic car insurance and Robbin is the best to deal with.
Midwest Classic Insurance
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Old 03-08-2018, 12:17 PM
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Another alternative you might want to check is Grundy. It seems that their criteria varies at times but I have used them for 18 years with no problems and decent pricing. I started with my Classic Roadster in 1990 while in Hawaii and added my Kirkham in 2008 in Texas. Both are about $900/yr.
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Old 03-08-2018, 01:53 PM
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Glad to see this topic pop up. Erie Insurance just told me they cannot insure my EM Cobra for a guaranteed value. All I was asking them to cover was my November 2017 purchase price.
Good to get a few company names to contact, besides Hagerty.

This site is pretty awesome. As a new guy to the world of Cobras, I learn something new with every visit.

Bill
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Old 03-09-2018, 04:22 AM
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I have Erie insurance and have had my Cobra insured with them for a stated value for years.

Maybe your agent is asking the wrong questions? I add and remove my car in the Fall/Spring without any problems, which reduces the price even more.
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Old 03-10-2018, 05:26 AM
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I checked with my Erie agent after reading your comments. She checked with Erie directly and found that Ohio is an Agreed Value state so Erie must offer this option in Ohio. PA, where I am, is not.
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Old 03-10-2018, 06:07 AM
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Interesting. I thought it was more of a company option than something related to which state you reside.
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Old 03-10-2018, 05:49 PM
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Quote:
Originally Posted by jeclarke View Post
I checked with my Erie agent after reading your comments. She checked with Erie directly and found that Ohio is an Agreed Value state so Erie must offer this option in Ohio. PA, where I am, is not.
I have my Cobra insured for liability with Erie and the comp and collision insured with Hagerty for agreed value. This was worked out by my agent.
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Old 03-11-2018, 01:32 PM
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Very Interesting!! Can you explain why this was to your advantage to have both companies involved?
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Old 03-11-2018, 08:12 PM
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Quote:
Originally Posted by jeclarke View Post
Very Interesting!! Can you explain why this was to your advantage to have both companies involved?
Hagerty didn't want to do the liability insurance but would do agreed value comp and collision.
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Old 03-11-2018, 08:17 PM
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My liability, collision, and comprehensive coverage is provided by American Collectors Insurance. It covers an agreed upon value of $40,500 with a $1000 deductible. The following restrictions apply: 1) the car cannot be my daily driver (i.e., I must own another car), 2) yearly mileage limit is 7500, 3) no timed events or racing, 4) the car must be kept in an enclosed and locked garage. Cost is $1042 per year.
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Old 03-12-2018, 10:56 PM
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There's another recent thread about insurance companies here, with lots of information and opinions:

Thinking about changing insurance companies
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Old 03-13-2018, 03:04 PM
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Quote:
Originally Posted by 520SC View Post
My liability, collision, and comprehensive coverage is provided by American Collectors Insurance. It covers an agreed upon value of $40,500 with a $1000 deductible. The following restrictions apply: 1) the car cannot be my daily driver (i.e., I must own another car), 2) yearly mileage limit is 7500, 3) no timed events or racing, 4) the car must be kept in an enclosed and locked garage. Cost is $1042 per year.
I had a 66 Corvette and 67 GTX insured for years with American Collectors. When I tried to list my ERA with them they shot me a ridiculous figure like that at me. Gave me some BS about hard to find repair parts for replicas. I left them and took all 3 cars to Midwest. Two cars are insured for $50 - 55,000 each and the other for $25,000. Annual premium for all 3 is $678/year.

You can do a lot better than that price from ACI. They are ripping you off.
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Old 03-13-2018, 04:01 PM
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The original premium was about $400, but that was with a 2500 mile limit per year. It shot up to $1000 when I asked them to change it to 7500 miles.
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Old 03-13-2018, 04:43 PM
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When I had my ERA 427 it was insured through Midwest and I wanted more miles than the standard 2500. With a $55K agreed upon value and 6500 miles a year I was at about $600 per year.
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Old 03-13-2018, 05:13 PM
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The original premium was about $400, but that was with a 2500 mile limit per year. It shot up to $1000 when I asked them to change it to 7500 miles.

I recently left after living there for 40+ years - you will be doing very well to
drive it more than the 2500 miles/year, unless you like potholes and speeding
tickets. Maybe Ewa Beach is mellower than Kailua was. JMHO.
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Old 03-13-2018, 05:18 PM
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I agree that I really should change insurance companies. The only reason I'm with American Collectors is that both Hagerty and Grundy rejected me due to a speeding citation I'd received in April 2014. The three year look-back was over in April 2017, so at that time I could have qualified for either one.
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