Club Cobra Gas-N Exhaust  

Go Back   Club Cobra > Cobra Talk Areas > ALL COBRA TALK

Welcome to Club Cobra!  The World's largest non biased Shelby Cobra related site!

  •  » Representation from nearly all Cobra/Daytona/GT40 manufacturers
  •  » Help from all over the world for your questions
  •  » Build logs for you and all members
  •  » Blogs
  •  » Image Gallery
  •  » Many thousands of members and nearly 1 million posts! 

YES! I want to register an account for free right now!  p.s.: For registered members this ad will NOT show

Nevada Classics
MMG Superformance
Main Menu
Module Jump:
Nevada Classics
Nevada Classics
Keith Craft Racing
MMG Superformance
Advertise at CC
Banner Ad Rates
MMG Superformance
MMG Superformance
MMG Superformance
July 2020
S M T W T F S
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  

Kirkham Motorsports

Like Tree1Likes

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 01-26-2019, 04:15 PM
CC Member
Visit my Photo Gallery

 
Join Date: Jul 2012
Location: Rockaway Twsp, NJ
Cobra Make, Engine: Backdraft - Coyote
Posts: 28
Not Ranked     
Default Insurrance Alternatives

I know there are quite a few threads on insurance in here but I wanted to make a new post so I can be up to date on any attractive insurance options. I have a Backdraft built in 2012. I put on 200 miles a year max. Car has only 2000 miles on it now. I'm currently insured through Midwest Classic/American Modern. No complaints with them or my broker. Never had a claim either. Me and my car reside in NJ but vehicle is registered in MT. I pay over $700 a year and feel the use I get doesn't warrant the price. I have a spotless driving record, own a home, car is stored in my garage and I'm at respectable age from an underwriting standpoint. They also won't honor stated value policies either. I'm not comfortable with that because it's the insurance company's decision to tell me what my car is worth. This makes me more nervous given the fact that Cobras represent a very thinly traded market. I think we all know that claims aren't in our best interest for the most part. I approached Grundy, Hagerty, etc. a while back and they originally quoted me almost half the price. When they found out it wasn't an "original" Cobra the price went up. I've also been told that being registered in MT and residing in another state plays a factor. This vehicle is only a pleasure driver. I'm not looking to commute with it but don't want to get denied a claim if I stop to use a bathroom or grab a cheeseburger. Any guidance you folks can give me is greatly appreciated.

Thanks
Reply With Quote
Sponsored Links
Sponsored Links
  #2 (permalink)  
Old 01-26-2019, 05:49 PM
spdbrake's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Dec 2015
Location: Lyman, SC
Cobra Make, Engine: BDR #53, 408W
Posts: 920
Not Ranked     
Default

I'm guessing the Montana registration is 1/2 the factor. Montana is #3 for the most accidents per 100k people. https://www.nwitimes.com/autos/the-m...4071634.html#2

And NJ where you live is #1 for the highest rates on the nation.
https://www.iii.org/fact-statistic/f...auto-insurance


I have Midwest Classic as well but underwritten by Infinity. Stated value was not an issue and runs approx $380 a year here in TX.
Reply With Quote
  #3 (permalink)  
Old 01-26-2019, 05:56 PM
twobjshelbys's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Jan 2009
Location: Las Vegas, NV
Cobra Make, Engine: Shelby CSX4005LA, Roush 427IR
Posts: 3,824
Not Ranked     
Default

Montana is used to avoid taxes. Many states are heavily cracking down on it.

You will never be able to insure your Backdraft for MORE than it would cost to build a new one with the same specs.

American Modern is where my GT is insured and the rates WENT DOWN!!!
__________________
Cheers,
Tony
CSX4005LA
Reply With Quote
  #4 (permalink)  
Old 01-27-2019, 02:29 AM
Ron61's Avatar
Senior Club Cobra Member
Visit my Photo Gallery

 
Join Date: Dec 2001
Location: Shasta Lake, CA
Cobra Make, Engine:
Posts: 26,268
Not Ranked     
Default

I have both of my Cobras with American Modern and they are both insured for the dam California coverage plus an agreed value on both but the original NASCAR Cobra could never be replaced as they only made a few of them to sell so they could be certified to race in NASCAR back then. And for all of that I pay only a little above $100 more a year then you stated you pay and they have always been really nice when I talk to them about something.

Ron
__________________
Ron 61
Ronnie Widener


View my Miscellaneous Gallery
Reply With Quote
  #5 (permalink)  
Old 01-27-2019, 06:38 AM
CC Member
Visit my Photo Gallery

 
Join Date: Mar 2014
Location: Hardwick, VT
Cobra Make, Engine: ERA Slabside BRG 289
Posts: 222
Not Ranked     
Default

For over 25 years I have been with Hagerty both for my current ERA Slabside as well as several restored military vehicles and trailers that I own. Always outstanding service, never a problem with claims and affordable rates.

John
ERA Slabside #3010 289 BRG

Last edited by desgros@vtlink.; 01-27-2019 at 06:40 AM..
Reply With Quote
  #6 (permalink)  
Old 01-27-2019, 07:03 AM
DanEC's Avatar
CC Member/Contributor
Visit my Photo Gallery
Gold Star Contributor
 
Join Date: Apr 2009
Location: Central, AR
Cobra Make, Engine: ERA Street Roadster #782 with 459 cu in FE KC engine, toploader, 3.31
Posts: 4,128
Not Ranked     
Default

Quote:
Originally Posted by tims210 View Post
I'm currently insured through Midwest Classic/American Modern. No complaints with them or my broker. Never had a claim either. Me and my car reside in NJ but vehicle is registered in MT. I pay over $700 a year and feel the use I get doesn't warrant the price.

Thanks
Wow - that's really high for Midwest. Must be your location or absent resident status. I pay about half that or less through Midwest in Arkansas. I did insist on a $1,000 deductible however. If Midwest is unable to give you a stated value policy in Montana then I would be beating the bushes to find someone who can.
ront49 likes this.
__________________
ERA 782 Running
https://www.youtube.com/watch?v=Cfge...b1-77fqwFRu7c]
Reply With Quote
  #7 (permalink)  
Old 01-27-2019, 10:55 AM
twobjshelbys's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Jan 2009
Location: Las Vegas, NV
Cobra Make, Engine: Shelby CSX4005LA, Roush 427IR
Posts: 3,824
Not Ranked     
Default

No matter what and who you insure with, your rate will be determined by your address. My daily driver insurance in Vegas has been a moving target since we moved here, but given the rate increases on homeowners and umbrella I'm expecting a 25% rate increase for auto. I'll do the shopping thing AGAIN! I no longer automatically renew I always rate search.
__________________
Cheers,
Tony
CSX4005LA
Reply With Quote
  #8 (permalink)  
Old 01-27-2019, 10:57 AM
twobjshelbys's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Jan 2009
Location: Las Vegas, NV
Cobra Make, Engine: Shelby CSX4005LA, Roush 427IR
Posts: 3,824
Not Ranked     
Default

Quote:
Originally Posted by DanEC View Post
Wow - that's really high for Midwest. Must be your location or absent resident status. I pay about half that or less through Midwest in Arkansas. I did insist on a $1,000 deductible however. If Midwest is unable to give you a stated value policy in Montana then I would be beating the bushes to find someone who can.
He does not reside in Montana, he's in New Jersey. The car is registered in Montana to avoid taxes. Pure and simple. No other reason.
__________________
Cheers,
Tony
CSX4005LA
Reply With Quote
  #9 (permalink)  
Old 01-27-2019, 12:12 PM
Senile Club Cobra Member
Visit my Photo Gallery

 
Join Date: Feb 2001
Location: Buffalo, NY USA, NY
Cobra Make, Engine: Time Machines Motorsports LLC- Superformance Dealer
Posts: 4,137
Not Ranked     
Default

Quote:
Originally Posted by tims210 View Post
I put on 200 miles a year max. Car has only 2000 miles on it now
Drive it. 200 miles per year is not even a tank of gas!
__________________
"I'm high all right, but on the real thing....powerful gasoline and a clean windshield..."

http://www.timemachinesauto.com/
Reply With Quote
  #10 (permalink)  
Old 01-27-2019, 12:44 PM
DanEC's Avatar
CC Member/Contributor
Visit my Photo Gallery
Gold Star Contributor
 
Join Date: Apr 2009
Location: Central, AR
Cobra Make, Engine: ERA Street Roadster #782 with 459 cu in FE KC engine, toploader, 3.31
Posts: 4,128
Not Ranked     
Default

Quote:
Originally Posted by twobjshelbys View Post
He does not reside in Montana, he's in New Jersey. The car is registered in Montana to avoid taxes. Pure and simple. No other reason.
Yeah - I understood that. He was pretty clear on his situation.
__________________
ERA 782 Running
https://www.youtube.com/watch?v=Cfge...b1-77fqwFRu7c]
Reply With Quote
  #11 (permalink)  
Old 01-27-2019, 02:40 PM
eschaider's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Feb 2006
Location: Gilroy, CA
Cobra Make, Engine: SPF 2291, Whipple Blown & Injected 4.6
Posts: 1,267
Not Ranked     
Default

I don't know, but I suspect registration in one state and garaging in another could be a contributing factor to the pricing you are seeing. The idea that an original Cobra, that is easily 10x the value of a replica, would insure for half the premium of the car with the replacement factor that is 1/10 the original's replacement value doesn't sound right.

I think that Midwest is trying to communicate with you through insurance premium pricing rather than words.


Ed
__________________
Help 'em do what they would have done if they knew what they could do.
Reply With Quote
  #12 (permalink)  
Old 01-27-2019, 02:53 PM
MKS427's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Jan 2017
Location: Glendale, AZ
Cobra Make, Engine: FFR MkIV 427
Posts: 347
Not Ranked     
Default

I would definitely recommend a declared value policy. Grundy 70K $900/year in AZ.
AND, I would highly recommend driving it more.
Reply With Quote
  #13 (permalink)  
Old 01-27-2019, 03:02 PM
twobjshelbys's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Jan 2009
Location: Las Vegas, NV
Cobra Make, Engine: Shelby CSX4005LA, Roush 427IR
Posts: 3,824
Not Ranked     
Default

Quote:
Originally Posted by eschaider View Post
I don't know, but I suspect registration in one state and garaging in another could be a contributing factor to the pricing you are seeing. The idea that an original Cobra, that is easily 10x the value of a replica, would insure for half the premium of the car with the replacement factor that is 1/10 the original's replacement value doesn't sound right.

I think that Midwest is trying to communicate with you through insurance premium pricing rather than words.


Ed
I suspect it has more to do with New Jersey and his city as the garage location than the remote registration. It's just expensive there.
__________________
Cheers,
Tony
CSX4005LA
Reply With Quote
  #14 (permalink)  
Old 02-01-2019, 12:25 PM
DanEC's Avatar
CC Member/Contributor
Visit my Photo Gallery
Gold Star Contributor
 
Join Date: Apr 2009
Location: Central, AR
Cobra Make, Engine: ERA Street Roadster #782 with 459 cu in FE KC engine, toploader, 3.31
Posts: 4,128
Not Ranked     
Default

Received my renewal today for 2019 and it increased roughly $30 to $719 for my 66 Vette, 67 GTX and ERA. So there do seem to be some market increases this year.
__________________
ERA 782 Running
https://www.youtube.com/watch?v=Cfge...b1-77fqwFRu7c]
Reply With Quote
  #15 (permalink)  
Old 02-02-2019, 05:50 AM
CC Member
Visit my Photo Gallery

 
Join Date: Dec 2017
Location: Harrison, AR
Cobra Make, Engine: BDR, 418
Posts: 161
Not Ranked     
Default Insurance

Quote:
Originally Posted by DanEC View Post
Wow - that's really high for Midwest. Must be your location or absent resident status. I pay about half that or less through Midwest in Arkansas. I did insist on a $1,000 deductible however. If Midwest is unable to give you a stated value policy in Montana then I would be beating the bushes to find someone who can.
I'm in northwest Arkansas ... Been with Grundy for several years although I've not had a claim (knock on wood), I'm satisfied with their policy and pricing...Car could only be insured for current value, actually what I paid for it. Full coverage with $500 comp and collision. $267 annually. 2004 Backdraft
Reply With Quote
  #16 (permalink)  
Old 02-04-2019, 05:51 PM
snapier's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Dec 2014
Location: Moravia, NY
Cobra Make, Engine: Superformance ford v8
Posts: 83
Not Ranked     
Default

I also have Midwest Classic (underwritten by Infinity) and live in a rural area in between Syracuse and Ithaca NY with agreed value and pay around $385 a year.
Reply With Quote
  #17 (permalink)  
Old 02-06-2019, 06:47 PM
MCoop's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Mar 2015
Location: Berlin, NJ
Cobra Make, Engine: SP0703 Ford 460 CJ
Posts: 37
Not Ranked     
Default

I have Midwest Classic for my Superformance and I reside in southern NJ. Agreed value and I drive 2500 miles annually. I pay $700.
Reply With Quote
  #18 (permalink)  
Old 02-07-2019, 09:49 AM
CC Member
Visit my Photo Gallery

 
Join Date: Mar 2014
Location: Rocklin, Ca
Cobra Make, Engine: Superformance , Roush 427SR dyno'd at 526 hp
Posts: 140
Not Ranked     
Default

Quote:
Originally Posted by MCoop View Post
I have Midwest Classic for my Superformance and I reside in southern NJ. Agreed value and I drive 2500 miles annually. I pay $700.
I also have Midwest Classic got my Superformance. Same coverage as you and I pay $750 in The Socialistic Republic of California.
Reply With Quote
  #19 (permalink)  
Old 03-01-2020, 04:20 PM
FWB's Avatar
FWB FWB is offline
CC Member
Visit my Photo Gallery

 
Join Date: Jan 2008
Location: Williamsport, PA
Cobra Make, Engine: Kellison Stallion 468 FE
Posts: 2,701
Not Ranked     
Default

I'm resurrecting a year old thread to further the insurance discussion. I have had infinity/collector classic from Midwest Classic also for the past 13 years. this weekend i got a letter from the parent company stating they will no longer be doing business in PA and are recommending policy holders move to Hagerty. looking for alternatives to Hagerty. i see someone above has Grundy, any other carriers?
__________________
Fred B
Reply With Quote
  #20 (permalink)  
Old 03-01-2020, 04:31 PM
spdbrake's Avatar
CC Member
Visit my Photo Gallery

 
Join Date: Dec 2015
Location: Lyman, SC
Cobra Make, Engine: BDR #53, 408W
Posts: 920
Not Ranked     
Default

I got the same letter. When I called though they renewed me for 2020. Next Jan I'll have find a new company.
Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -7. The time now is 09:40 AM.


Powered by vBulletin® Version 3.8.0
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.6.0
The representations expressed are the representations and opinions of the clubcobra.com forum members and do not necessarily reflect the opinions and viewpoints of the site owners, moderators, Shelby American, any other replica manufacturer, Ford Motor Company. This website has been planned and developed by clubcobra.com and its forum members and should not be construed as being endorsed by Ford Motor Company, or Shelby American or any other manufacturer unless expressly noted by that entity. "Cobra" and the Cobra logo are registered trademarks for Ford Motor Co., Inc. clubcobra.com forum members agree not to post any copyrighted material unless the copyrighted material is owned by you. Although we do not and cannot review the messages posted and are not responsible for the content of any of these messages, we reserve the right to delete any message for any reason whatsoever. You remain solely responsible for the content of your messages, and you agree to indemnify and hold us harmless with respect to any claim based upon transmission of your message(s). Thank you for visiting clubcobra.com. For full policy documentation refer to the following link: CC Policy
Links monetized by VigLink