Another insurance question

LwCwb · #1 (**permalink**) 02-15-2004, 11:45 AM

My dad and I are currently planning to build a Unique 427 Cobra with a 427 sideoiler. The only problem is, I want to drive the car legualy when I am 16 (i am only 14 now.) Do any of you know of any insurance companys that will insure me and my dad? Any help would be GREATLY appriciated. If it helps, I live in PA.

StephenC · #2 (**permalink**) 02-15-2004, 02:02 PM

Lw:

Welcome! It's great to see a new generation of Cobra replica enthusiasts coming along.

I certainly don't want to be the bearer of bad news, but here's what you may want to consider. It's called, "Welcome to the real world".

First, most (if not all) of the "collector" insurance companies have a minimum age/driving experience requirement. This leaves the "regular" insurance companies, that will usually be MUCH more expensive.

I base the following on my experience of trying to get insurance on my 1998 'Vette so my (then) 19 year old son could drive it OCCASIONALLY. Your best bet is probably the insurance company that currently insures your family vehicles and home. Your Dad could probably get you insured on all of the family vehicles, including the Cobra replica, as a package deal. It is doubtful an insurance company will just insure the one vehicle (the replica) with you as an insured driver (WAY too much risk in their eyes). You will find, as my two sons did, that insurance on just the family car is very high for a new driver, much less the cost of insuring something like a Cobra or Vette. My 22 year-old son's insurance on his Hyundai just dropped from $2800 to $2200 (no moving violations) on his birthday last month. It's terrible for young drivers and it goes outta' sight here in Michigan if you get any tickets.

Your Dad may find that he, like some other owners, may even have problems finding insurance for himself. The insurance situation for these cars varies from area to area, but it seems to be getting harder and harder to find reasonable insurance. It will probably get worse before it gets better.

My advice, make sure you start saving now to help pay for whatever insurance your Dad is able to get. Getting insurance for an inexperienced driver in a high-powered car like you're going to build will probably not be easy and will definitely not be cheap. Don't feel bad, there are a lot of guys like me in our 40s and 50s with clean driving records that wish their insurance costs were a whole lot lower.

Good luck with your project. When you get started, make sure you keep us updated with current pictures in your gallery.

Hope this helps a little.

Update: I see there is another "Insurance" thread that just opened here at CC. Bill Wells, a very knowledgeable owner, just responded there. You may want to read his remarks and watch this thread as well.

LwCwb · #3 (**permalink**) 02-15-2004, 03:44 PM

Thanks for the info Steve. That was nothing less of what I was expecting. My dad complains about the insurance for his 99 Mustang GT. I could probably have enough fun sitting in the passenger seat as in the drivers seat. Thanks again for the info.

Mike

StephenC · #4 (**permalink**) 02-15-2004, 03:57 PM

Mike:

Don't let insurance costs or anything else stand in the way of achieving your dream. While it might not happen right away or even when you turn 16, don't lose sight of driving your Dad's replica or even owning your own.

I was 14 when I fell in love with Pontiac GTOs (one of the hot cars of my youth). It took me 27 years to finally get one, but the wait was worth it. Take a look............

http://www.clubcobra.com/photopost/s...cat=500&page=2

The great thing about our country is that if you can dream it, you generally have the opportunity to achieve it. You just gotta' be willing to work for it. Stay in school, stay off drugs and outta' trouble, work hard and buy yourself a Cobra.

It can happen.

LwCwb · #5 (**permalink**) 02-15-2004, 04:03 PM

Thats a very nice GTO you have Steve. One of my dads friends just bought a 69 GTO, numbers matching with a 4 speed for $1,000 dollars. I guess that guy was hard up for cash. Anyway, thanks again for the info. I was about 10 when I "got bitten" by the Cobras. Theres only a few where I live though. Some guy in my aera has a SPF with a 351W and another in a red FFR. Thanks again for the info.

Mike