12-23-2004, 03:45 AM
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CC Member
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Join Date: May 2003
Location: Chatham,
NJ
Cobra Make, Engine: Shelby Series 1 CSX5098 (w/ supercharger) & Diasio D962R Turbo race car
Posts: 406
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Not Ranked
State Farm requested that I obtain an independant appraisal (one from thier list) and pay a $350 appraisal fee since the car was valued over $100,000. Annual premium was just under $500/year, but the car needed to have QQ Plates in NJ.
The only other issue they required was that my garage be tied into my house alarm system (as a condition of writing the policy).
I was also able to get coverage thru Condon & Skelly for about $520/year (with less driving restrictions and conditions).
The only thing you should know about State Farm is that if you have an Umbrella Policy with them that wraps around your auto policy if they find out you are insuring the car thru another carrier, they will either cancel your unbrella policy or increase the price of the unbrella policy by 3-4 times. So check first.
JAV
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