$400/a year insurance full coverage
03-28-06, 07:54 PM
#26
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For what it's worth. I called to insure the FD. Registered in NC, told them I wanted the "tuner" program (she recommended). 10,000 miles per year, daily is a 1995 toyota. Turned me down because of too many miles per year.
I told her ok, 5,000 miles per year. Turned me down because the DD is a 1995, and too close in years to the FD. The idea being a 1995 is not reliable enough, it'll break, and I'll drive the 1994 FD. jeez. Went on to say unless I had a 2000 or better DD, I was out of luck.
I told her ok, 5,000 miles per year. Turned me down because the DD is a 1995, and too close in years to the FD. The idea being a 1995 is not reliable enough, it'll break, and I'll drive the 1994 FD. jeez. Went on to say unless I had a 2000 or better DD, I was out of luck.
03-28-06, 09:53 PM
#27
I called one of these types of places before. I met all the criteria according to the website,
Locked garaged car, low yearly mileage, modified/exotic/racecar/hotrod, decent driving record, other insured cars, I'm 30 years old etc etc and they would not cover rx7's for an agreed value. Only what the market would support which the guy one the phone said would probably be 16-18k.
I am in serious need of something better and less expensive than Progressive and my policy is up for renewal. So if you could give me a direct line to your Hagarty rep or agent instead of the generic 1-888 number that would be great.
I'd love to get a $25k policy for $400. I am paying about $200 a month for full covergae (blue book **** off and take what we give you) value with Progressive and it's getting old.
Seriously please PM me the contact info!
Locked garaged car, low yearly mileage, modified/exotic/racecar/hotrod, decent driving record, other insured cars, I'm 30 years old etc etc and they would not cover rx7's for an agreed value. Only what the market would support which the guy one the phone said would probably be 16-18k.
I am in serious need of something better and less expensive than Progressive and my policy is up for renewal. So if you could give me a direct line to your Hagarty rep or agent instead of the generic 1-888 number that would be great.
I'd love to get a $25k policy for $400. I am paying about $200 a month for full covergae (blue book **** off and take what we give you) value with Progressive and it's getting old.
Seriously please PM me the contact info!
03-29-06, 12:52 AM
#28
Originally Posted by silver93
For what it's worth. I called to insure the FD. Registered in NC, told them I wanted the "tuner" program (she recommended). 10,000 miles per year, daily is a 1995 toyota. Turned me down because of too many miles per year.
I told her ok, 5,000 miles per year. Turned me down because the DD is a 1995, and too close in years to the FD. The idea being a 1995 is not reliable enough, it'll break, and I'll drive the 1994 FD. jeez. Went on to say unless I had a 2000 or better DD, I was out of luck.
I told her ok, 5,000 miles per year. Turned me down because the DD is a 1995, and too close in years to the FD. The idea being a 1995 is not reliable enough, it'll break, and I'll drive the 1994 FD. jeez. Went on to say unless I had a 2000 or better DD, I was out of luck.
Dave, how long ago did you call? B/c Hagerty just recently started doing these highly modified vehicles. When I first called them about a year ago, they didn't even have this as an option, but told me it would be available within 6 months. So I'd give it another shot...
~Ramy
03-29-06, 03:35 PM
#33
Dave,
If I may make a slight suggesstion...check this excerpt from my post in the other threads I linked to. IMHO, you'd be wasting your time and the opportunity to insure your car for $25K, when you can *easily* insure it for $40K+. Read below.
~Ramy
If I may make a slight suggesstion...check this excerpt from my post in the other threads I linked to. IMHO, you'd be wasting your time and the opportunity to insure your car for $25K, when you can *easily* insure it for $40K+. Read below.
~Ramy
Originally Posted by FDNewbie
Lastly, and perhaps the most important point of all: how do I determine the value of my 7? Please understand that these specialty car insurance companies do NOT insure based on market value - aka, how much a car similar to yours would sell for. Because that would mean everyone would only be insuring their 7 for somewhere in the teens. That's not worth all the restrictions and hassle.
These companys insure based on REPLACEMENT value. What does that mean? How much would it take to REPLICATE your car, from scratch? How much does a same year and trim bone stock RX-7 sell for? Then, imagine you took that bone stock RX-7 to a dealership and told them "I want ALL of this done" and handed to them the list of modifications on your 7. They'd charge you for EVERYTHING, right? Parts at list price, hourly labor, any fabrication work, any polish work, paint work, E V E R Y T H I N G. Even if you performed the work yourself. The point is, how much would it cost to do it AGAIN? JUST like your car? Add the cost of the work + the cost of the car, and for most people, you're easily looking at the $40K range.
What I did was, I made a list on Excel of every single modification done to my 7, and broke it down by region (interior, exterior, audio, powertrain, etc). And I have the part in one column, and the list price in another (including shipping), and the labor associated with the install in another. Under this sheet, I have a stack of receipts, proving I purchased the parts (since they only require 4 or so pics, and it would be hard to take pics of EVERY single mod you have on the car...esp. things like a lightened flywheel, which you can't see when it's installed, etc). Yes, many parts on the receipt reflect lower than list price, but again, the receipts aren't used to state cost; merely to prove ownership of the parts. So I can do the work myself, I can get a hookup and get the parts for half off, etc, and STILL, everything would be covered for full replacement value (shop list price, and shop standard hourly labor rate). I think I might have gotten a couple of ya excited by now
So how much does this kind of coverage cost? If you were to insure your 7 for $50K, you'd be looking at $500 - $1000 a YEAR (depending on your driving record). That's it. Yes, you can believe that. The rates are so low because the risk is (or should be) very low - remember, this is a sunday/leisure car, not one you will be driving much at all - and cetainly not tracking or roadracing
These companys insure based on REPLACEMENT value. What does that mean? How much would it take to REPLICATE your car, from scratch? How much does a same year and trim bone stock RX-7 sell for? Then, imagine you took that bone stock RX-7 to a dealership and told them "I want ALL of this done" and handed to them the list of modifications on your 7. They'd charge you for EVERYTHING, right? Parts at list price, hourly labor, any fabrication work, any polish work, paint work, E V E R Y T H I N G. Even if you performed the work yourself. The point is, how much would it cost to do it AGAIN? JUST like your car? Add the cost of the work + the cost of the car, and for most people, you're easily looking at the $40K range.
What I did was, I made a list on Excel of every single modification done to my 7, and broke it down by region (interior, exterior, audio, powertrain, etc). And I have the part in one column, and the list price in another (including shipping), and the labor associated with the install in another. Under this sheet, I have a stack of receipts, proving I purchased the parts (since they only require 4 or so pics, and it would be hard to take pics of EVERY single mod you have on the car...esp. things like a lightened flywheel, which you can't see when it's installed, etc). Yes, many parts on the receipt reflect lower than list price, but again, the receipts aren't used to state cost; merely to prove ownership of the parts. So I can do the work myself, I can get a hookup and get the parts for half off, etc, and STILL, everything would be covered for full replacement value (shop list price, and shop standard hourly labor rate). I think I might have gotten a couple of ya excited by now
So how much does this kind of coverage cost? If you were to insure your 7 for $50K, you'd be looking at $500 - $1000 a YEAR (depending on your driving record). That's it. Yes, you can believe that. The rates are so low because the risk is (or should be) very low - remember, this is a sunday/leisure car, not one you will be driving much at all - and cetainly not tracking or roadracing
03-29-06, 05:12 PM
#35
A mix of both. Basically enough to convince them you have what you say you have. And you can write up your own receipts too for your own labor (eg. Dave does a lot of his own polishing, as well as installs, so he can "bill" himself and submit it as actual costs associated in making the car what it currently is). Keep in mind that lets say you buy a lot of stuff from RX7Store. You can just call 'em up and ask them to pull up a history and print all the parts you bought from them with the LIST price on it, print it on company letterhead, sign it, and mail you a copy. That'll work as a receipt too.
In general, however, you should be keeping a receipt book of everything done to your car anyway
~Ramy
In general, however, you should be keeping a receipt book of everything done to your car anyway
~Ramy
03-29-06, 05:20 PM
#36
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Originally Posted by FDNewbie
A mix of both. Basically enough to convince them you have what you say you have. And you can write up your own receipts too for your own labor (eg. Dave does a lot of his own polishing, as well as installs, so he can "bill" himself and submit it as actual costs associated in making the car what it currently is). Keep in mind that lets say you buy a lot of stuff from RX7Store. You can just call 'em up and ask them to pull up a history and print all the parts you bought from them with the LIST price on it, print it on company letterhead, sign it, and mail you a copy. That'll work as a receipt too.
In general, however, you should be keeping a receipt book of everything done to your car anyway
~Ramy
In general, however, you should be keeping a receipt book of everything done to your car anyway
~Ramy
03-29-06, 05:42 PM
#40
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On my 65 mustang fastback insured through hagerty it is cheap but there is a 6K miles a year limit on it.
If you want real cheap insurance get a bike, mine is 175$ a year for high limit liability with a dwi, now thats cheap. My truck (76 chevy 4x4, small lift, 36's) was bumped up to 449.50 a month after my "incedent"
If you want real cheap insurance get a bike, mine is 175$ a year for high limit liability with a dwi, now thats cheap. My truck (76 chevy 4x4, small lift, 36's) was bumped up to 449.50 a month after my "incedent"
03-29-06, 05:52 PM
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Very interesting stuff here guys. I personally own an 84 GSL-SE so I hope that it is a little easier to get insurance like you are speaking of.
I have over 12k invested in the motor along and this is doing all the work myself. I have a question though, how do you bill your time? Is it just a normal shop rate in the area?
I am glad that I kept an ongoing timesheet of all the hours invested in my project and all the hard copies of the reciepts...
I have over 12k invested in the motor along and this is doing all the work myself. I have a question though, how do you bill your time? Is it just a normal shop rate in the area?
I am glad that I kept an ongoing timesheet of all the hours invested in my project and all the hard copies of the reciepts...
03-29-06, 06:07 PM
#42
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Ramy for all the information you have you should be a rep for them! But you still dont have their coverage! why? a speeding ticket? that does not sound right
im 22 with 3 accidents on my record! but i do have 3 cars, the 7 and my challenger are insured threw them and i have a 1996 dodge ram with regular insurance
im 22 with 3 accidents on my record! but i do have 3 cars, the 7 and my challenger are insured threw them and i have a 1996 dodge ram with regular insurance
03-29-06, 07:01 PM
#46
Originally Posted by FDNewbie
Dave,
If I may make a slight suggesstion...check this excerpt from my post in the other threads I linked to. IMHO, you'd be wasting your time and the opportunity to insure your car for $25K, when you can *easily* insure it for $40K+. Read below.
~Ramy
If I may make a slight suggesstion...check this excerpt from my post in the other threads I linked to. IMHO, you'd be wasting your time and the opportunity to insure your car for $25K, when you can *easily* insure it for $40K+. Read below.
~Ramy
Ramy, I thought of that and when she asked how much coverage I was looking for I modestly said I was looking for 20-25k roughly. She did say that I would be given a break down sheet that would allow me to list all of the modifications done. I believe I could get more coverage but of coarse then the cost would go up. I would be happy to get 25k for my car on Ebay as is right now (not that its for sale bitches) so I don't mind taking less coverage for less cost. However it is a good point you bring up and I will most definitely at least see how much of a difference in cost we are talking. If it were minimal then why not.
I listed all my mods in the nopistons.com garage a while back and it adds it all up for you (hint hint) and its roughly at 35k I spent in modifications not counting the 16500 purchase price I paid for the car in 2001. Of coarse most of mine is under the hood. in the wheel wells and inside the cabin.
In either case I am thrilled that there are options. Also off topic you are a true politican when you post. Never to offend. Class act all the way. Ramy for mod!!
03-30-06, 03:50 PM
#47
Originally Posted by Fd3BOOST
Ramy, I thought of that and when she asked how much coverage I was looking for I modestly said I was looking for 20-25k roughly. She did say that I would be given a break down sheet that would allow me to list all of the modifications done. I believe I could get more coverage but of coarse then the cost would go up. I would be happy to get 25k for my car on Ebay as is right now (not that its for sale bitches) so I don't mind taking less coverage for less cost. However it is a good point you bring up and I will most definitely at least see how much of a difference in cost we are talking. If it were minimal then why not.
I listed all my mods in the nopistons.com garage a while back and it adds it all up for you (hint hint) and its roughly at 35k I spent in modifications not counting the 16500 purchase price I paid for the car in 2001. Of coarse most of mine is under the hood. in the wheel wells and inside the cabin.
Also keep in mind how hard it is to find mint FD's these days (yours is in excellent condition inside and out...so we're not basing prices on beat up Ebay crap).Oh, and hint well taken
In either case I am thrilled that there are options.
Also keep in mind that Grundys is an option too.
Also off topic you are a true politican when you post. Never to offend. Class act all the way. Ramy for mod!!
~Ramy
03-30-06, 05:05 PM
#48
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Damn...no love for me....I know I don't have an FD folks but come on help me out here...at least I have a FD engine...
Let me re-phrase the question...
How do I charge for my time? Do I just charge a normal shop rate? Or do I have to figure in an "at home" charge? I do not nearly have theoverheads that a shop has.
*gasp of hope*
Let me re-phrase the question...
How do I charge for my time? Do I just charge a normal shop rate? Or do I have to figure in an "at home" charge? I do not nearly have theoverheads that a shop has.
*gasp of hope*
03-30-06, 05:47 PM
#49
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I just spent about 15 mins on the phone with Alaina, who was very friendly and helpful.
I was quoted based on NJ required minimums, which I think bumps the quote up a bit.
Given 2k miles per year on the FD I got the following quotes:
At $40k value, $250 deductible, $1368/yr
At $25k, value, $250 deductible, $884/yr
At $25k value, $500 deductible, $798/yr
The middle quote is looking pretty damn good to me right now.
Rich
I was quoted based on NJ required minimums, which I think bumps the quote up a bit.
Given 2k miles per year on the FD I got the following quotes:
At $40k value, $250 deductible, $1368/yr
At $25k, value, $250 deductible, $884/yr
At $25k value, $500 deductible, $798/yr
The middle quote is looking pretty damn good to me right now
.Rich
