I bought a 2002 GT to use as a daily driver, because I want to use my 89 LX for shows and cruise ins. I also want to get it off the road before somebody totals it for me. I want to get agreed value insurance for it for 2 reasons. It is very inexpensive because of the low risk, and regular insurance would only pay bluebook or less in the case of a total loss. Blue book is probably around $1000. I have $4000 in the paint alone. Not to mention that I couldn't replace it for less than $6000 - $7000. I can't find a collector insurance company that will insure it because it isn't old enough. Does anybody know of a company that will?
Who has agreed value or collector insurance on a Fox body?
- Thread starter 89lxsport50
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Gixxer750
Founding Member
I am using one this year, the same one my father uses for his 25th aniversary vette. But we are in Canada. I know what your saying I will have about 8-10 in paint alone when it is done.
Notchbck93
New Member
I have state farm: they set an agreed value.
I think my buddy was rejected by state farm for the big tach on his dash, he went through haggerty I believe.
I think my buddy was rejected by state farm for the big tach on his dash, he went through haggerty I believe.
Notchbck93 said:
I currently have all my cars with State Farm. They told me they couldn't do agreed value. Haggerty said it had to be 20 years old. Grundy said they couldn't insure a Mustang newer than 1974 unless it was part of a collection.
I just found one that will insure it for $8000, and the premium is $250 per year with a 5000 mile mileage limit. They are called Parrish Heacock. A friend of mine has his Shelby covered by them. I will probably go with them, but would like to know of any others.
ryan218
In just 10 years, I'll be old enough to drive!!!!
we have agreed value on out 86 gt vert for 8,500 and on our 05 escape will for the escape its a little different like say if it gets wrecked and we still have 15,000 left to pay on it and the blue book value is only 10,000 the insurance company will pay 15,000 cost like 10 extra a month on the new escape. well worth it in the long run with the way people drive around here.
i will try to get it on my car when i get it finished cuz i will have over 5,500 in it easily plus the buying price of the car.
i will try to get it on my car when i get it finished cuz i will have over 5,500 in it easily plus the buying price of the car.
3 eyed snake
New Member
thats called GAP insurance. most newer cars have it when you sign for the deal. its suppost to be an option, but most companies require it on the loan value.... ie. FORDryan218 said:
www.americanhobbyist.com
18,500 for my 93 costs 250 a YEAR
Upping it to 30-35k when the new stuff goes in.
18,500 for my 93 costs 250 a YEAR
Upping it to 30-35k when the new stuff goes in.
Aaron
Dirt-Old 20+Year Member
GroverDill said:
Wow - I need to check them out. I'd HATE it if I only got 1-2K for my car - it's got under 60K on it and I drive it only 3K per year.
Did you do any investigating to see how they are on paying out if something DOES happen to your car? Just wondering..
We have Hagerty for both my 93 and my wife's 96. The 93 has an agreed value of $15,000 and the 96 is $20,000. Total cost for the two cars is just under $800 a year. My Hagerty agent is also the president of our SVTOA club and insures lots of late model Mustangs. With them you can't drive more than 5,000 miles a year, you must have proof that you have another car to drive and you MUST have a garage.
The Shape
Founding Member
sunil6784
Member
Oh me too me too! I want to know more! Does it replace full coverage?
It would cost me $8,000 to replace the car alone IF I could find another like it... plus I'm gonna paint it, plus $1,000 in wheels and tires.
It would cost me $8,000 to replace the car alone IF I could find another like it... plus I'm gonna paint it, plus $1,000 in wheels and tires.
My insurance co doesn't go with bluebook, they said that they will research with car dealers to see what they would sell an 89 notch for and then give me that amount, I can also do my own research and hand them the paper work.
Another and better way is to get my car evaluated and that amount will be used for the insurance. I also said that I don't do more than 5k kilometers a summer with this car so my "risk" goes down a ton and I pay something around $400 for full coverage.
Another and better way is to get my car evaluated and that amount will be used for the insurance. I also said that I don't do more than 5k kilometers a summer with this car so my "risk" goes down a ton and I pay something around $400 for full coverage.
Wow, currently I pay like $120 a month for basic coverage in Florida and I easily do not drive the mustang more than 5,000 miles a year, have a garage, and have another car. Of course, I'm also 23 so I wonder what they would quote me at?
EDIT: You need 10 year of driving experience to qualify. Nuts!
EDIT: You need 10 year of driving experience to qualify. Nuts!
The Shape said:I'm not sure how your car could get any better. Whats going in now?
Dart Iron Egale 364
AFR 205's
Spyder type intake
Custom cam
twin turbo's
Shaft roller rockers
Romac balancer
SFI Alumn flywheel
Viper T56
Weldon fuel system
Glen's performance sumped tank
MM K member
MM A arms
MM coil overs
Bilsteins all around
That counts as mo betta!
The Shape
Founding Member
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