Consulier insurance

[GTP#44]

I am getting ready to renew my insurance on the Consulier.
I am getting quotes all over the map.
My driving record is clean so that is not the factor.
Some quotes make me reconsider driving it at all and other make me worried if they will pay if needed.
One quote said only drive it for shows and an occasional pleasure cruise....(they are all a pleasure).
What are you guys doing for insurance on the Mosler...?
I am sure all owners will be anxious for the responses.

[player1up]

I have Gieco and when I went to get insurance they said that there was a note in their system that said they don't insure anything made by Mosler.
BUT they were obligated to insure it since I had bought it within the last 30 days... I thought that was really odd.
It's insured with an agreed value of 65k and I pay roughly the same as my Duster. I'm almost 40, married, no tickets of any kind in the last 15+ years, multi car discounts.
I have to guess that the biggest problem with the insurance companies is that they have no way of knowing what will cost to repair/replace the car. They've got no historical data for repair or replacement cost and they don't want to lose money if a claim is made.

[168glhs1986]

$65k wow. Not sure why any company would insure it for that much when it's worth less than 1/2 that. Let's hope it never comes down to a total loss situation. I have a feeling you would be hiring a lawyer and sueing them for replacement costs.

[player1up]

I'm guessing that a total loss would be from a fire or a front and rear simultaneous smash. 65k is a bit of a stretch but they asked me what it cost new...

After seeing the crash test car at the shop it looks like it breaks at the headlight and wheel openings and that can be fixed, not easy, but fixable none the less. Mine has already been banged up a bit on a couple of different occasions. Cracks around the passenger headlight, water drains that were fiberglassed over, and broken rear bumper cover painted at least once before ( slightly different shade of maroon ) .

So, what kind of repair place? ... boat shop or body shop? :lol:

[168glhs1986]

What we do have on our side in terms of value is....try to find another one to replace it. It may take $65k to pry one from our hands:).

[Reaper1]

I think that based on production numbers and advertisements for the cars when new the price argument can be made. Dunno how well it would hold up against "fair market value". Agreed upon value is a good thing, though.

It's interesting that an insurance company would single out a licensed car manufacturer that has passed all DOT testing. I wonder if they do the same for other "defunct" car companies?

If you are only going to drive it a certain amount per year and you keep it secured, you could get collector's insurance more than likely. Depending on who you would go through and what plan you would get, there may be some limitations on driving it, but the cost of the insurance could be quite a bit less than through a "regular" company. If you track the car, get track day insurance. It's not that expensive and it could save your wallet if something bad might happen on track. Keep in mind your regular insurance most likely does not cover damage that occurred on a race course. I don't know if auto-x counts.

As for repairing the composites of the car, player1up I know you know this, damage in composites are not localized, especially if the damage occurred due to a compressive force. Any sort of damage resulting in delamination of the plies (pretty much anything) needs to be inspected for damage beyond the visually affected area. What might seem like a small crack could go WAY beyond what you can see. Non-destructive testing (mostly ultrasound) is one of the easiest, quickest, and cheapest ways to accomplish this. X-ray is also a very good way to do it, but good luck finding a place that will do it on a budget any of us could afford. This type of repair isn't that critical in non-structural parts, but it will help it live longer after the repair.

For a hard wreck, the forces can be such that there are other parts of the composite structure that got damaged that are not in the area of the initial damage. Sure, the car might have been able to drive away, but how structurally sound is it really? This is part of the problem with composite structures when it comes to safety. They are only effective for *1* hit at the intended strength in the area of initial damage. After that, they will just splinter apart. Metal structures still retain strength and can more effectively handle multiple shock loads, especially in the same area over and over. Think demolition derby. A composite car would not do very well at all. Because of the possibility of damage elsewhere in the structure, it is best to test the entire structure that was affected, or replace it completely.

[thedon809]

Most cars these days are designed to just crumple from 1 good hit anyways. Rather the car absorb the impact instead of your head.

[ForzaV12]

There is no way an insurance company would pay anywhere near 65K for a total loss GTP. They would base the claim on comps-most of which hover between 12 and 20K. I insure mine with hagerty with a stated value of 20K. Cheap.

[ajakeski]

Hagerty is the best. They will even insure your extra parts and buy them from you if you're in a crash and need the parts for repair.

[supercrackerbox]

I don't have a Consulier, but I do have an agreed value policy on the GLHS through Hagerty. There's no mileage restrictions, as long as I have proof of insurance of a dedicated daily driver, and the car is stored indoors. And since it's a work in progress, they automatically increase my agreed value every six months, and it covers any parts I've bought for the car whether they're installed or not. Only costing me about $300 a year.

[Reaper1]

Man, I might have to look into that when I get my Daytona back together...unless they'll insure a non-running car under a storage plan (since I can't drive it). That's the way I have it insured right now and it's only something like $20/mo, but it doesn't cover the parts and I'm sure they wouldn't give me jack for the car.

[supercrackerbox]

Man, I might have to look into that when I get my Daytona back together...unless they'll insure a non-running car under a storage plan (since I can't drive it).

Guess I should have specified that the GLHS is still a shell on jackstands for going on three years. But if my shop burns down or gets hit by a tornado, I get $9k in my pocket.

[bfarroo]

A stated value policy is what you need to be looking for. The premiums will be somewhat based off these values and usually require an appraisal on the vehicle which would probably use the two recent E-bay sales as a starting point. If something happens they have agreed to the value and there won't be any back and forth as to it after the fact. I have my 87 Daytona insured through American Family and pay $99 a year with a 6500 stated value. As others have mentioned I have to have a Daily driven vehicle registered with them, have to garage the car, and can't daily drive it although there aren't any mileage restrictions. I'll be getting similar policies on my 91 and CSX this summer.

[supercrackerbox]

I'd avise against standard insurance companies for specialty cars. While I didn't have any special policy on my Charger other than standard full coverage, I actually had to get a lawyer involved when I filed my vandalism claim with State Farm, and when it rolled into a co-worker's truck at work one day, they totalled it out for a broken tail light. And this is a quote from a friend after his '70 Challenger T/A got hit after a car show one day:



Looks awesome! What did happen to it?
long story short i got hit leaving culvers about 2 1/2 years ago insurance paid like 10k is all with my classic car insurance through state farm . . . biggest lesson is make sure you have REAL insurance on your cars before they hit the street im in the process of going through hagerty now

[bfarroo]

In my past experience State Farm is useless. They threatened to drop us after claiming a vandalism and stolen radio after having the car insured with them for 4 years and 1000's of dollars in premiums. We dropped them as soon as the car was fixed. American family has been nothing but professional. Had our cars vandalized in our driveway a few years ago and they were here that day and immediately took care of getting both cars fixed to our satisfactory. Like I said you must have the value set and spelled out exactly in your policy.

[Chris W]

In my past experience State Farm is useless. They threatened to drop us after claiming a vandalism and stolen radio after having the car insured with them for 4 years and 1000's of dollars in premiums. We dropped them as soon as the car was fixed. American family has been nothing but professional. Had our cars vandalized in our driveway a few years ago and they were here that day and immediately took care of getting both cars fixed to our satisfactory. Like I said you must have the value set and spelled out exactly in your policy.

I believe I already tried State Farm and they told me they don't insure "Exotic cars".

I opted for stated value of $24k for $303. annually through MK Insurance. 3000 miles per year to and from car shows and "Pleasure" drives.

Chris-TU

[Johnny]

I called a lot of insurance places before I got insurance on mine. MOST said car shows and one or two pleasure drives a year.
AND if the found out you autocrossed it they would cancel you. I went with Hagerty stated value at $20k and is about $500 a year.
I was checking out www.gotinsurance.com (http://www.gotinsurance.com) and might change to them. They will not insure during an autocross but won't cancel if you run in one. It is good to get an appraisal on any rare car just incase.

I talked to Steve Foltz at a car show about insuring my GTP. He said it would be about $350 a year.

[Reaper1]

I know Forza already posted about what he uses, but I wonder what some of these other exotic car owners do about insuring their cars that they race? Like vintage race cars.

Maybe Lloys of London might be something to look at?

[GTP#44]

Thanks for all the replies..!
I went with Hagerty also like Jonny the value is 20K and the cost is right at 500.00.
I was also asking the agent what if I wanted it to be a daily driver what would be the cost.
She is still looking for somebody to write it as a daily driver .....none found yet.