insuring a high priced build
 

Hey guys I am coming to the end of a build on my mach1 the engine and tranny blew when my ex drove it drunk as hell and managed to drive miles at the redline in first and second and downshift fourth to first, bounce off a couple trees and peirce the radiator breaking the tranny and causing the pistons to turn oval shaped. I had money saved since college for a new car but in a moment of bad judgement I wanted to keep the mach and replace the engine with something cool rather than buying a used 03 cobra. After having the blown motor bored, stroked, and beefed up (including intercooled supercharger and t56magnum xl tranny) I put an extra $32,000 into the car. The car has full coverage now but if it gets stolen or if I total it I get KBB value of like 5-7grand as the car has just under 100,000miles on the chassis. I am very worried about the loss I can incur should anything happen to the car. Does anybody have experience with any of the collector car insurance companies? The kind that give you a reduced rate because they have a low yearly mileage cap and you need to show that you have a garage and another car for daily driving? I would assume that their is a way to purchase extra insurance for the value of parts replaced on the car people that have 60's era restored mustangs I would think get them insured for the colletor value not the 1960 mustang BB value. I asked my local regular insurance agent and she has no such program can anybody point me in the direction of a company that does hot rods? Thanks a lot guys your input is always appreciated.

Re: insuring a high priced build
 

I have full coverage on my car,..plus I have whats called an "agreed value policy" with haggerty. This stops the nada payoff,which the insurance company will push..now I drive mine alot, which is why I carry two policies,..if your's qualifies for the pleasure clause, you could get away with just the haggerty, and they will insure it at an agreed total re-build price

I'd try a specialty insurance like Haggerty or http://www.heacock.com/mobile/
I am currently in the process of getting insurance with Heacock. They offer special policies for collector/race/show cars. I will be receiving better coverage for less money. :)

Yeayea, I'd go the declared value approach. My uncle has it on his Porsche. Should the car be totaled or stolen, insurance pays him X amount outright.


Something about a microwave with wifi and Tapatalk.

Re: insuring a high priced build
 

I just got my car back last week after dumping **** tons of cash into it for about 2 yrs straight. I insured both our Machs through our insurance company (Cincinnati Mutual). I put it on over a year ago to cover the build incase something happened while it was at the shop or during transport to the painters, exhaust or other specialty shops. So I don't remember the specifics.

I do remember that they wanted an appraisal, I kept the value at $49,999, if I remember right we were able to avoid the appraisal by staying under $50k. We are restricted to under 4,000 miles a year which is no problem for us. The other reason we kept it under 50, is so my wife wouldn't know exactly what I've spent on it.

Re: insuring a high priced build
 

I have a rebuilt salvage title '01 Bullitt that is supercharged and built up with a lot of one-off custom pieces. I have collector's insurance through Haggerty. While I don't have a mileage limit, I cannot take the car to work nor use it as my primary transportation. It is insured for a declared value.

Re: insuring a high priced build
 

that is a GOOD idea...(on the wife not finding out what we have spent..LOL)

I have Hagerty also. Supercharged 04 Mach 1 with 11,000 miles. Declared value $21,000 plus coverage for my tools and spare parts in the garage. Long distance towing for the Mach AND the other cars that I own. No real limit on mileage but need to have an other primary vehicle. Costs $525/yr.