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After reading the many threads on insurance problems I really think that we, as a group, should do something about this growing problem. We have a website that gets 32,000 hits per day and how often do we hear about wrecked roadsters? Not very often. So either the insurance companies just don't want to deal with kits or they don't mind at all.
I can think of a few things:
(1.) Support insurance companies who support us. More info below about a company who can help.
(2.) Get SEMA involved and post something to the front page of FFCars for people to write to whom ever can help us.
(3.) The kit car companies are watching this close because it will have a cause and effect on future sales. So get them involved in helping the cause.
(4.) Start our own kit car/collectors insurance company.
(5.) ???
Here's an idea for insurance: Mike Smith, Northeast Classic Auto Ins., emailed me a while back so I called him today. He agrees that cobra replicas do not have high claim numbers because people built these cars themselves and are probably MORE careful.
He wants your business. If your car is titled as a 1965 you will save about 50%. He said that a $30,000 valued replica will run about $200-$250 per year, or about double that for a car titled as a 2002 or something. The company could decide to up the rates for all FFR cars, but instead of figuring out which car is '65 and which car is a '02, they just let the title do the talking. The reason an older car is cheaper is because it is a collector car. Sorry guys in states where you have to title it as the year you built it.
His company has the normal restrictions such as miles, parking, use, etc. For a little extra he can up the miles. I think he said 6,000 miles would add about $35 to the yearly cost.
He can sign you up online in 5 minutes. You fill out the form and email him pictures and fax him the info. Quick and easy. (800)866-6440 www.classiccarinsurance.com
I know some want insurance that will allow you to drive your car like you would your other cars, but this is a good start.
Disclaimer: FFCars owners do not get any commissions and were not paid to tell you about this. We do not know this guy, so do your own research before purchasing insurance. If you buy insurance from him, do so on your own merit, not what we have to say.
- Bill
I can think of a few things:
(1.) Support insurance companies who support us. More info below about a company who can help.
(2.) Get SEMA involved and post something to the front page of FFCars for people to write to whom ever can help us.
(3.) The kit car companies are watching this close because it will have a cause and effect on future sales. So get them involved in helping the cause.
(4.) Start our own kit car/collectors insurance company.
(5.) ???
Here's an idea for insurance: Mike Smith, Northeast Classic Auto Ins., emailed me a while back so I called him today. He agrees that cobra replicas do not have high claim numbers because people built these cars themselves and are probably MORE careful.
He wants your business. If your car is titled as a 1965 you will save about 50%. He said that a $30,000 valued replica will run about $200-$250 per year, or about double that for a car titled as a 2002 or something. The company could decide to up the rates for all FFR cars, but instead of figuring out which car is '65 and which car is a '02, they just let the title do the talking. The reason an older car is cheaper is because it is a collector car. Sorry guys in states where you have to title it as the year you built it.
His company has the normal restrictions such as miles, parking, use, etc. For a little extra he can up the miles. I think he said 6,000 miles would add about $35 to the yearly cost.
He can sign you up online in 5 minutes. You fill out the form and email him pictures and fax him the info. Quick and easy. (800)866-6440 www.classiccarinsurance.com
I know some want insurance that will allow you to drive your car like you would your other cars, but this is a good start.
Disclaimer: FFCars owners do not get any commissions and were not paid to tell you about this. We do not know this guy, so do your own research before purchasing insurance. If you buy insurance from him, do so on your own merit, not what we have to say.
- Bill
