I just had a friend total his Integra Type-R and the value of that car is more than what the insurance company would pay. His insurance company is Progressive.

How are you guys insuring your 20b Rx7s? Are you informing the insurance company of the value of your motor and misc parts? And are they covering the car even with these mods?

 

If you want to cover the mods, you need to get specialty car insurance that covers a "stated value", "agreed value", etc. This usually isn't very cheap, and most policies severely limit the amount of miles the car can drive each year.

Here are some examples:
http://lelandwest.com
http://www.insurance-marketplace.com/specialty.htm
http://mmins.freeservers.com/

 

I use state farm. I have a stated value of 75k for my car. It is 30 something a month. The catch is that it can only travel 8k miles per year. This is ok for me, for I already have near 20k miles in the "bank" from non-usage.

 

Red, that is exactly what I wanted to hear. I've had state farm since I was 15 and while I doubt I'm lucky enough to get a $30 per month note, I think I can still get it at under $50. I'm guessing it will be slightly higher since I'm younger than you.

Thanks for the answers. I was getting worried.

 

How did you get such a good rate at a $75K stated value? I need to get a policy like that on my 1Gen RX-7, even though it's only worth about $6-8K and driven only about 2,000 miles per year. Even with no comprehensive coverage I'm still paying over $40/mo for Florida PIP, Bodily Injury, Property Damage, and Towing.... and I'm older than you, have a good driving record, and I changed from State Farm a few years ago because it was getting too expensive, lol.

 

I have always used State Farm, and had given them quite a bit of business. I have a clean record, and have almost all possible discounts. The coverage on the car is 1mil/3/1; with a $100.00 deductible. I pay 444.08 a year for the coverage of the stated 75k. This comes out to be about 37 a month.

State Farm is awesome, and have been excellent to work with. I have had two claims with them. One was for a my Jimmy burning down at the airport, and the other was due to a sewer backup flood. The second one, I just told my insurance guy about (due to him asking how my holiday season was going); but not putting a claim on it. Next thing I know, he demands to see it and files the appraisal and work for me.

Anyhow, State Farm is just great.

 

Holy crap. I'm paying $175/month on a 1996 BMW 3-series and a 1997 Minivan. What am I doing wrong? I'm 34 and have a clean driving record too.

 

thats easy....you live in california....when I moved out of fairfield of all places, mine went down....

 

Gotcha. California sucks.

 

hrmm. i have Farmers, and live in utah, i'm going to check into this. i pay $98/month right now, do i just call and ask about "specialty" insurance?
i asked a while ago about getting it insured for more, but they just quoted a higher rate for me, saying the higher you want to set the worth of the vehicle at, the more it would be per month.
so is there a certain name its called, or is it just called "specialty" insurance?

 

Wow I have state farm as well. How did you go through the process of convincing them what the value of your vehicle is so they would insure such an amount?