Insurance information straight from the source!

[REAL 1]

First. Are the insurance companies backing away from hot rods? They have much in common with Cobras. Many home built with tremendous horsepower.

Are the demographics of the two owner groups the same or similar?. Age, income, driving experience?

Cobras present the additonal concern in that they I believe are seen as race cars and their owners seen as being more aggressive drivers. They are I think more likely to show up at track events than hot rods. Perhaps the Ins. Co's believe this too.

Is this part of their concern? If it is I think that the exclusions found in many auto policies as to "racing" or "street racing" cover this concern.

Again, I think the main problem comes back to the fact that a vast majority of these cars are home built. There is no uniform consistency in construction and materials used. When a Corolla is made they are punched out the same every time and meet various standards of safety and construction. They are therefore a known entity to the carrier.

Part of the insurance game is estimating the risk. Known variables help. The carrier is better able to rate the risk and price the premium.

Carriers still insure old cars without many of todays safety features. Jags, MGB's, Triumphs, 427 Vettes, Chevelle 454's, GTO's. All very fast cars. So I must conclude that while power is a factor and a concern its not the REAL culprit. None of these cars also meet todays safety standards. So that can't be the REAL culprit scaring them off.

Extreme value? Nah. I'll bet they will be happy to write original Cobras. They will price the premium accordingly if you want collision and theft but they know the car was "factory built." From a road worthiness standpoint no different than an old Triumph.

I think it comes full circle to the home built issue. I don't think we can get the insurance companies to set the safety standards. I think maybe the answer is to take the safety standards from the NHRA and have a ASE mechanic inspect your car then have the NHRA issue a sticker of approval so to speak and submit that proof to the carrier. They will see that the individual car has meet certain safety and construction requirements.

If the NHRA won't work with us then we have three choices. Form an association that will issue a sticker certifying that the vehicle has meet set standards of construction and safety supported by a certifed ASE mechanics report/checklist or we can on our own have a mechanic provide a letter that the car is road worthy. Third option is to sell the Cobra and buy something else.