Insurance problems

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03MachMan

New Member

Nov 25, 2004

10

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Brighton Colorado

Nov 26, 2004

#1

• Nov 26, 2004

• #1

My fathers looking for a new car, he wants an 03 cobra but is worried what his insurence will be. He's thinking of droping the cobra idea to get a GT, since he wants something with a warrenty and doesnt know how bad the insurence will be. Hes thought about collectors but drives alot and doesnt know if theirs a millage restriction. Anyone have their rates and wouldnt mind sharing.
46 Y/O driver
No tickets what so ever
Will be insured in colorado if thats any help
thanks alot

 

64Comet

Member

Sep 7, 2004

28

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6

Stuck in Lemoore CA.

Nov 26, 2004

#2

• Nov 26, 2004

• #2

Well before I bought my 04 cobra, I checked the difference in insurance from a cobra and Gt and it was a hole $8 every six months cheaper for the GT. Still considered a high horsepower car by the insurance companies, not to me, but to them. Good luck and get a cobra.

 

P

Price1

Member

May 11, 2003

109

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Dryfork, WV

Nov 26, 2004

#3

• Nov 26, 2004

• #3

I'm on the high side of the 50's and my insurance with the '01 runs $1200 a year. I live about 35 miles from downtown Philly but my insurance rates are based on semi-rural area. My driving record is spotless though. Hope this gives you some idea of insurance rates?? I don't know if this area is comparable to Colorado or not.

 

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03MachMan

New Member

Nov 25, 2004

10

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Brighton Colorado

Nov 26, 2004

#4

• Nov 26, 2004

• #4

I'm not really sure if they discount for rural areas, we live in the middle of nowhere, i mean my highschool is 18 miles from me lol. But that doesnt sound bad, is their a big diff between an 03 supercharged SVT's and the older non charged?

 

Beau

Founding Member

Jan 29, 2000

3,050

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San Diego

Nov 26, 2004

#5

• Nov 26, 2004

• #5

i dont think he'll have much of a problem if he's that old and has a perfect record.

 

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03 SVT VERT

New Member

Jun 7, 2004

154

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Nov 26, 2004

#6

• Nov 26, 2004

• #6

I'm paying $2,800 with a teen driver on the same policy, though originally my insurence company said they wouldn't take it for anything less the $9,000 having a 17 year old in the house. I had a sign legal papers saying he wouldn't touch it or my policy would be dropped, and that is how I got it down. It's so stupid, the kid is an Eagle scout, captain of a school varsity team, and maintains a 3.5gpa, he'd is probibly the only other person I trust with the car. He actually is the one who keeps it clean and changes the oil. Other kids ruin it for good kids.

 

Traveler

Founding Member

Nov 26, 2001

519

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Nov 26, 2004

#7

• Nov 26, 2004

• #7

Does he have other vehicles? If so, he's likely to get multi-car discount PLUS if he doesn't put a lot of miles on it, insuring it as a recreation or pleasure vehicle can make a difference as well. One thing you have to keep in mind is that the Cobra will retain more of its value than the GT will, so if he's interested in selling it or trading it in a few years, he'll likely not lose as much.

 

Badsnke98

Member

Nov 4, 2001

43

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Clinton Twp, MI

Nov 27, 2004

#8

• Nov 27, 2004

• #8

Collectors or Classic car insurance, driven in parades, cruises, or to and from Car Shows. That mileage is usually limited to 2K a year. With that in mind, there is an insurance company that I have for my Cobra and its $613 a year for 30K value and no deductables. 100/500 pl/pd

The 03-04 Cobra's warrenty is same as the GT's. That's everyones reason for buying it.

Regular AAA insurance for the 05 GT is $1,518 for the year, pleasure only 7.5K miles or less, but then I drop to storage only for 5 months and save about $430 of that.

 

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03 SVT VERT

New Member

Jun 7, 2004

154

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Nov 27, 2004

#9

• Nov 27, 2004

• #9

Oh, also I took a $1,000 deductable to get me down to $2,800 a year.