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PJ UPTMOR 12-27-2022 05:25 PM
Insurance for a cobra
 
I am about to get insurance on my cobra. I am in the final stage and then it going to the paint shop. I am wondering if is there anything I need to know before I get insurance. Any information would be greatly appreciated. Thank Paul

Sargie 12-27-2022 05:38 PM
Quote:
Originally Posted by PJ UPTMOR (Post 1513357)
I am about to get insurance on my cobra. I am in the final stage and then it going to the paint shop. I am wondering if is there anything I need to know before I get insurance. Any information would be greatly appreciated. Thank Paul
I had Hagerty for years. It’s the most expensive that I found. Switched to American Collectors but the policy was to restrictive. Now insured with Grundy Worldwide that allows me to drive. All had restrictions with no driver under the age of 25 or 26 allowed. I list 3,000 mi. Annual mileage. Reality for me is more like 400 miles driven. All were agreed value policies with high liability protection. All have on line tools to get a cost estimate. Pretty sure all 3 cover cars and parts while under restoration. Not sure about insurance during the build. Fortunately I haven’t had a claim which is when you find out if your insurance carrier is good.

twobjshelbys 12-27-2022 07:04 PM
Did you try SEARCH for INSURANCE??? There are lots of topics with lots of pointers to agents that specialize in high-end sports cars, including/especially Cobras. Most will write an agreed value policy.

patrickt 12-27-2022 07:38 PM
Just make sure you have a fat umbrella policy sitting on top of whatever you end up buying so that when your burnout goes bad and plows into the crowd at the car show you've got enough coverage to keep your ass out of debtor's prison.:cool:

Sargie 12-27-2022 08:20 PM
Quote:
Originally Posted by patrickt (Post 1513362)
Just make sure you have a fat umbrella policy sitting on top of whatever you end up buying so that when your burnout goes bad and plows into the crowd at the car show you've got enough coverage to keep your ass out of debtor's prison.:cool:
Sage advice Patrick although he could just skip the plowing burnout…nah just get the umbrella

CompFi 12-27-2022 09:08 PM
Lots of good advice
 
+1 on the comprehensive umbrella

In addition to the above, you will find lots of good advice if you conduct a search of the forum for insurance.

For example, Robbin at Midwest is extremely knowledgeable and helpful.

But as i found, not all carriers operate in every state, in the US anyway. So, you might also try one of the big carriers, like State Farm, which also will write an agreed value policy for a classic like a Cobra.

PJ UPTMOR 12-28-2022 11:29 AM
Thank you
Glad you told me about the comprehensive umbrella. I
will talk to Robin about this.

PJ UPTMOR 12-28-2022 11:33 AM
Thank you
Glad you told me about the comprehensive umbrella. I
will talk to Robin about this.

jolsen42 12-28-2022 01:15 PM
I've had good luck with Grundy so far. No claims, but At least I have coverage. $307.00 for $55,000. agreed value.

Unique427 12-28-2022 03:19 PM
Quote:
Originally Posted by patrickt (Post 1513362)
Just make sure you have a fat umbrella policy sitting on top of whatever you end up buying so that when your burnout goes bad and plows into the crowd at the car show you've got enough coverage to keep your ass out of debtor's prison.:cool:
This verbage should be in all Mustang purchase agreements.

As for underwriters, I just called my agent about
coverage. He requested detailed photos and
a replacement value. It was insured same day
with no other pre-qualifiers.


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