insurance

randy krout

Member
good morning
Does anyone have a line on good inexpensive Insurance for Cobras. I currently have American Collectors and I feel like they are overpriced on this car. their cobra price is twice the cost of my 66 corvette with them (makes no sense)
anyway any help is appreciated
 

Scott "Elder" Harrison

"Growing old is mandatory, growing up is optional"
Staff member
Contributing Member
Ask your regular insurance carrier.
I used to pay a fortune for collector car insurance. When I moved back to VA, I asked State Farm to insure it for stated value. They asked for pictures, gave to to their underwriting dept., and came back with a quote of 1/3 the previous cost. of course I also have all my other policies with them.
 

InProcess

Ken Caniglia "Tail Gater"
Contributing Member
Member
They didn't mention one way or the other about a change in policies. My comment was about transparency.
 

InProcess

Ken Caniglia "Tail Gater"
Contributing Member
Member
Randy, I just contacted Robin and he said email him direct. They lost one company, but write for three others.
 

sbrookeinmd

Scott Brooke
Staff member
Contributing Member
I'm on American Modern through Geico and it's cheap. Never had an issue with it.
 

Dutchmon

Paul Carroll
Contributing Member
I have been totally happy with Hagerty. You set the value, no depreciation. Pays out on set value. Unlimited free towing under 20 miles.
 

Scott "Elder" Harrison

"Growing old is mandatory, growing up is optional"
Staff member
Contributing Member
Everybody reporting their insurance carrier but not giving the premium cost or covered value.

And who has made a claim? Were you happy with the way it was handled?
 

CobraEx

Member
Ditto on American Modern. Used an agent, Mike Smith. Northeast Classic Car Insurance. Located in Connecticut. Very reasonable.
 

Scott "Elder" Harrison

"Growing old is mandatory, growing up is optional"
Staff member
Contributing Member
It's curious that none of you have stated the cost of your policy nor the covered value of the vehicle. Or whether you have ever made a claim.
Yet you rave about your insurance!

How is Randy supposed to make a decision?
 

CobraEx

Member
Fortunately no claim experience with American Modern but they have a good overall reputation. It's been my experience that very few companies are writing insurance on kit cars now days so you have to kind of take what's best available as far as reputation/cost . As most of us have experienced, insurance cost is very dependent on the state in which you reside and that state's minimum insurance requirement, as every state is different. Also, my attitude at the time was to get the minimum required insurance in order to get my car titled, registered, and safety inspected. I'm usually not in the habit of giving out too much personal info online but having said that, I valued my car at $35,000, insured with the Virginia's minimum requirements, basically liability and uninsured, at a cost of $255/year. Just need to call agents and get quotes based on your individual needs. Hope this helps.
 

TroyT

Troy Torbett
Contributing Member
Member
It's curious that none of you have stated the cost of your policy nor the covered value of the vehicle. Or whether you have ever made a claim.
Yet you rave about your insurance!

How is Randy supposed to make a decision?
I have northeast Classics. As mentioned above, the agent is Mike Smith in CT. He's great to work with. I have the same coverage as my daily drivers. for an annual premium ~ $244 with an annual limit of 3,000 miles. He also offers an annual limit of 6,000 miles with a higher premium, but not too much more. The insurance carrier is American Modern. At one time I was under a different carrier, but it got way too expensive as they no longer wanted to cover cobras. So, Mike switched me to a different carrier.
I did file a claim once when I hit a deer (DOH!) on my way to Katie's Cars and Coffee in 2012. . I went to the painter who painted the car originally and he did the repair work and payment was made based on the repair estimate. I paid the deductible and insurance covered the rest. In my view, this wasn't an expensive claim.

Hope this helps.
 
Last edited:

kitcarbp

Bill Penzes Jr
Contributing Member
I’m using Hagerty since completing my car 2 years ago. I picked them after learning about other Cobra owners on Club Cobra Forum reporting good claims experience with Hagerty. They didn’t care what State the car is registered in. I assembled my car at home, not purchased. Hagerty as I understand is more costly when comparing agreed value coverage. I sent pictures and had a policy the next day. Mine is $260 annually for $35k agreed value.
 

Dutchmon

Paul Carroll
Contributing Member
It's curious that none of you have stated the cost of your policy nor the covered value of the vehicle. Or whether you have ever made a claim.
Yet you rave about your insurance!

How is Randy supposed to make a decision?
Hey Scott, I wouldn’t recommend a carrier I wasn’t satisfied with. I was with GEICO for 33 years and they would not insure the car, nor would their underwriter partner (?). Suffice it to say, the drivers background plays a huge role in the policy cost and that can be very misleading to anyone! A little legwork is always necessary. I search for new insurance every year or so. Just saying.
 
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