Factory Five Racing Forum banner
1 - 13 of 13 Posts

·
Senior Member
Joined
·
10,171 Posts
Discussion Starter · #1 ·
I looked into my Crystal ball and it said if we don't get a insurance company to give us a national group purchase program.. FFR could be out of business. And maybe the rest of the roadster builders to....

It is getting harder and harder to insure these puppies... Is it a way we could get reasonable insurance for the 10 thousand of us that are out there.... We have a group buy for everything else.

What say you. :(
 

·
FFCobra Master Craftsman
Joined
·
8,694 Posts
I agree but there may be difficulties insuring across state lines (The Peoples Republic of Massachusetts, for example, is a little different). It certainly would be worth a few informational calls.
 

·
Senior Member
Joined
·
590 Posts
It seems the difficulty varies by state. I had no issues in TX, I used Dan Hardiman in Tyler, TX, he is with American National and they have a "chrome" policy for all collector type cars.

Here are the catches...
1. Cannot be the only car you insure with them.
2. 7500 miles per year.

My Cobra valued at $28,000 (had to provide an appraisal letter) and 98 Dodge truck, both full coverage with some extra liability coverage, were about $106 per month. Truck alone would be about $85 per month.

American National Property and Casual (ANPAC)

One thing that I should note, I never had to make a claim, so I cannot comment on that part.

Good luck and good idea.

Merry Christmas!
 

·
Senior Member
Joined
·
5,559 Posts
The states (like MA) with the "no fault" insurance, would put a monkey wrench in this plan. If there was a way around that for collector cars, though, it would be great. Klayfish is very knowledgeable in this area, so maybe he can enlighten us with possiblities (or not) for this proposition.

I would be very interested, because at this point, I only run with basic liability insurance, so if anything happens to the car, I'm screwed! Gotta love the "peoples Republic of MA"... :rolleyes:

Brian
 

·
Registered
Joined
·
151 Posts
Sounds like a great idea. I'm trying to get insurance here in ND and my choices are limited to the number of companies that do business in this state. In the last couple days, I've found a few agents willing to check into it for me so I'm optomistic that I will get it covered soon. One of these months it will be warm enough to drive it!!! I've checked out a number of web sites to find "no cobra kit cars". What makes these cars undesirable compared to other cars built from kits?
 

·
Registered
Joined
·
2,158 Posts
Al,
I tried a similar idea about 1 1/2 years ago or so, and while many people liked the idea, many were firmly opposed to it.

Due to each state having varying laws, it would be impossible to do a "group buy" in the same manner you do a group buy on shocks. The closest thing that can be done is to organize a group and show the underwriters that the cars are safe and the drivers are responsible. This is basically what the street rod crowd did when they got together and formed the National Street Rod Association, aka NSRA. We would need to do something very similar to them. We can't join the NSRA because our cars don't meet their guidelines, but I'd certainly recommend using them as a model.

In essence, it's just a simple safety checklist for each car to make sure it's properly assembled. I'm pretty sure the NSRA strongly encourages safe and responsible driving as well.

Would it gaurantee anything? Nothing in life is certain. But I can say for sure that I have heard "straight from the horses' mouth" that groups like the NSRA are recognized by insurance companies. Many underwriters specifically ask if they are members. I have no doubt that if Cobra owners showed a strong, organized group the underwriters would at least take a look and reconsider.

Steve
 

·
Non-Traditionalist (I'm not a purist, just look at
Joined
·
3,008 Posts
Steve,
I know that there were several who oppossed your idea last time, but I am certain that there are many including myself who would be willing to support an initiative such as this. What would it take to get the ball rolling on this?
-Mirko
 

·
Registered
Joined
·
2,158 Posts
Mirko,
Well, people would need to organize a group. Make the group well organized and like I said, I'd suggest using the NSRA as a guideline. Name the organization. Come up with a safety list, maybe make some contacts at SEMA. Encourage responsible driving. Then it takes time. It won't happen overnight. The group would need to have a proven track record to show that they get results.

It's probably a lot more complicated than that, but that's the nuts and bolts I think.

I'm always up for doing this. I think the NSRA has a great thing and I see no reason why Cobra owners can't do the same thing.

Steve
 

·
Premium Member
Joined
·
7,018 Posts
I have contacts at the big National & International brokerage houses. I will do some checking around and see if I can get anybody interested in putting together a program for our cars.
 

·
Non-Traditionalist (I'm not a purist, just look at
Joined
·
3,008 Posts
FFR 5163,
Please update us if you find any good news.

Steve,
Instead of trying to organize something around Cobra builders/owners, would it make sense to try to organize something around our FFROG's?
I mean if even people were really interested we already have a decent sized national informal infastructure. We'd just need to figure out to put additional structures in place that would make it.
Just an idea.
Happy Holidays
 
1 - 13 of 13 Posts
Top