BluePrint Engines

Visit our community sponsor

Thanks Thanks:  0
Likes Likes:  0
Results 1 to 18 of 18

Thread: State Farm insurance

  1. #1
    RR20AC's Avatar
    Join Date
    Jul 2015
    Location
    Puyallup/WA
    Posts
    394
    Post Thanks / Like
    Blog Entries
    1

    State Farm insurance

    How did you use State Farm insurance. My local agent tells me I can't insure through them without and appraisal and proof of how much labor it would take to build one of these. I have heard on the forum that State Farm was a good place to go. They have been my insurance carrier for 40 yrs?
    20th Anniversary MK4 Roadster, #8752, 18 of 20, Delivered 12/03/15, 1st Start 01/28/2017, off to paint 4/13/2017, Forte 351w/ Holley EFI, Forte throttle linkage, TKO 600/Forte Hyd. Clutch, UniSteer Electra Steering, RT's turn Signals, many Breeze parts, Paint by the Jeff Miller. Finished on 10/08/2017. 500 mile inspection on 10/21/2017, 3000 mile inspection on 1/14/19.

  2. #2
    ej95Cobra's Avatar
    Join Date
    Aug 2014
    Location
    Central Virginia
    Posts
    87
    Post Thanks / Like
    Like you I have had State Farm for over 40 years. When I asked for a stated value policy they offered a historic vehicle policy. While offering low cost, the historic vehicle policy had limitations on use such as driving to car shows, parades and other club sanctioned events. I wanted to use my car for more than their policy covered and didn't want state farm to have any opportunity to deny coverage if I used the car as I wanted. I ended up with Haggerty to insure my roadster. Haggerty was most accommodating, helpful and understand the way most owners want to drive their cars.

  3. #3
    Out Drivin' Gumball's Avatar
    Join Date
    Feb 2011
    Location
    Blackberry Township, IL
    Posts
    2,653
    Post Thanks / Like
    Insured with State Farm as a specialty / historic vehicle. There are some limitations, but no worse than my state imposes on "antique vehicle" license plates / registration. It's an agreed value policy and I did have to submit an appraisal and pictures.
    Later,
    Chris

    "There are no more monsters to fear, and so, we have to build our own."
    Mk3.1 #7074

  4. #4
    RR20AC's Avatar
    Join Date
    Jul 2015
    Location
    Puyallup/WA
    Posts
    394
    Post Thanks / Like
    Blog Entries
    1
    Thanks, I have a quote from haggerty and mid west. Just wanted to stay with the same company but not possible.
    20th Anniversary MK4 Roadster, #8752, 18 of 20, Delivered 12/03/15, 1st Start 01/28/2017, off to paint 4/13/2017, Forte 351w/ Holley EFI, Forte throttle linkage, TKO 600/Forte Hyd. Clutch, UniSteer Electra Steering, RT's turn Signals, many Breeze parts, Paint by the Jeff Miller. Finished on 10/08/2017. 500 mile inspection on 10/21/2017, 3000 mile inspection on 1/14/19.

  5. #5
    Senior Member
    Join Date
    Aug 2016
    Location
    Northern VA
    Posts
    653
    Post Thanks / Like
    Give MidWest Classics a call. I just insured with them. Best price and easiest process. Also, they are a forum vendor.

  6. #6
    Senior Member Avalanche325's Avatar
    Join Date
    Nov 2011
    Location
    Jax Beach, FL
    Posts
    2,103
    Post Thanks / Like
    Even with the same company, every state is different. What State Farm insures in one state, they will refuse in another.

    My opinions:
    You do not want a "stated value" policy. You get to pay premiums on what ever value you state (Let's say $60,000 for your hand built top-notch Cobra replica). If you write your car off, the insurance company can pay you out on what THEY determine your car is worth. (Here's $25,000 for your cheesy kit car) You want "Agreed upon" value.

    You want specialty insurance for your specialty car. The last thing that you want is an adjustor that deals with Camrys all day.

    A lot of us go though Midwest.

  7. #7
    Sgt.Gator's Avatar
    Join Date
    Apr 2013
    Location
    Bend, Oregon
    Posts
    1,652
    Post Thanks / Like
    State Farm denied my 818R. They said they would insure an 818S.
    Midwest (the forum vendor) is happy to insure the 818R.
    "Good Judgement comes from Experience. Experience comes from Bad Judgement"
    Owner: Colonel Red Racing
    eBAy Store: http://stores.ebay.com/colonelredracing
    818R ICSCC SPM
    2005 Subaru STI Race Car ICSCC ST and SPM
    Palatov DP4 - ICSCC Sports Racer

  8. #8
    Senior Member
    Join Date
    Jul 2013
    Location
    Prairieville, Louisiana
    Posts
    973
    Post Thanks / Like
    They gladly insure mine. No miles restrictions, no destination restrictions and agreed value of 30k. To have a value any higher than that requires an appraisal, I just haven’t gotten that done yet. I will eventually but I got less than that in it.
    '33 Hot Rod
    Ordered: 3/25/17. Delivered: 5/6/17. 1st start: 8/24/18

    MK4 Roadster
    Ordered: 7/10/13. Delivered: 8/20/13. Completed: 10/26/15.
    I did everything except spray it. She ain't perfect, but she's mine.

  9. #9
    Papa's Avatar
    Join Date
    Dec 2016
    Location
    Parker, CO
    Posts
    5,594
    Post Thanks / Like
    I have American National Property and Casualty (ANPAC). I previously insured a 1970 El Camino with Agreed Value insurance at a great rate of ~$300 per year for full coverage with the agreed value. After I purchased my FFR kit, I called and set up a build-in progress policy for the invoice cost of my parts. After purchasing my engine I called and modified the value of my policy to include the engine purchase price. Once the car is completed and registered for road use, I'll convert to an agreed value policy (appraisal required at that point).
    My Build Thread: http://thefactoryfiveforum.com/showt...ter-Build-9754
    (Most viewed Roadster build thread on this forum!)

    Delivered: 6/17/2017
    First Start: 12/30/2017
    Completed: 12/7/2019
    Legal: 1/30/2020

    Member of the Mile-Hi Cobra Club
    Dave's Cobra YouTube Channel: https://www.youtube.com/channel/UCbk...npK1UZHj4R-bYQ
    Agora 1:8 Scale Cobra Build: https://thefactoryfiveforum.com/show...l-Build-Thread

  10. #10
    Senior Member wareaglescott's Avatar
    Join Date
    Apr 2016
    Location
    Auburn, AL
    Posts
    2,146
    Post Thanks / Like
    Been with USAA myself for 25 years. They would not touch it. I went with Midwest with a set value policy. I am pleased. Of course I haven't need the insurance yet so who knows how it will work out if I ever do.
    MK4 #8900 - complete kit - Coyote, TKO600, IRS - Delivered 6/28/16 First Start 10/6/16 Go cart - 10/16/16 Build completed - 4/26/17 - 302 days to build my 302 CI Coyote Cobra - Registered and street legal 5/17/17
    Build Thread http://thefactoryfiveforum.com/showt...e-build-thread
    PHIL 4:13 INSTAGRAM - @scottsrides

  11. #11
    Junior Member
    Join Date
    Oct 2014
    Posts
    22
    Post Thanks / Like
    Everyone has a different story when it comes to insurance hey? My experience with acquiring insurance in Alberta is as follows.
    My insurance broker says that Haggerty won't insure Cobra replicas because of their propensity for crashing. Funny... they have a picture of a Cobra in their advertising.
    My broker found my insurance for my unfinished MK IV (inspected and registered, no paint), 10,000 km / year (6000 mile) limit, $40,000 value with Intact Insurance for a $265.00 / year premium (I can't remember my deductible)
    I had to give them every receipt that I have to define value.
    They want an appraisal when car is finished to come up with a more accurate replacement value (and adjust premium I would imagine)
    I wish that I could get insurance that cheap for lesser value vehicles I own that I drive less than 10,000 km / year.
    And like Scott stated...it's all good until we find out how they treat us in the event of a claim.

  12. #12
    Papa's Avatar
    Join Date
    Dec 2016
    Location
    Parker, CO
    Posts
    5,594
    Post Thanks / Like
    I can absolutely vouch for ANPAC's claim treatment after having claims resulting from two teenage drivers (one minor - $2.5K claim and one total loss - $12K claim) and two acts of God; one tornado - $27K claim and one hail storm - $6K claim. The first three were in a one year span! I'm still shocked that they didn't drop me.
    My Build Thread: http://thefactoryfiveforum.com/showt...ter-Build-9754
    (Most viewed Roadster build thread on this forum!)

    Delivered: 6/17/2017
    First Start: 12/30/2017
    Completed: 12/7/2019
    Legal: 1/30/2020

    Member of the Mile-Hi Cobra Club
    Dave's Cobra YouTube Channel: https://www.youtube.com/channel/UCbk...npK1UZHj4R-bYQ
    Agora 1:8 Scale Cobra Build: https://thefactoryfiveforum.com/show...l-Build-Thread

  13. #13
    Senior Member
    Join Date
    Oct 2015
    Posts
    324
    Post Thanks / Like
    Quote Originally Posted by wareaglescott View Post
    Been with USAA myself for 25 years. They would not touch it. I went with Midwest with a set value policy. I am pleased. Of course I haven't need the insurance yet so who knows how it will work out if I ever do.
    Thats weird??? I called them and got a quote... Ive been with them for about 20 years...

  14. #14
    Senior Member Avalanche325's Avatar
    Join Date
    Nov 2011
    Location
    Jax Beach, FL
    Posts
    2,103
    Post Thanks / Like
    Quote Originally Posted by awd-turbo View Post
    Thats weird??? I called them and got a quote... Ive been with them for about 20 years...
    Are you in the same state as wareaglescott?

  15. #15
    Member
    Join Date
    Jun 2012
    Location
    Beavercreek, Oregon
    Posts
    48
    Post Thanks / Like
    I had (key word there is had) State Farm on both of my Factory Five cars. They somehow found a you tube video (or something) that had the race car in it (FFR4662SP). They sent me a letter saying that they would no longer insure it (rat ba$tards). My agent called and said it's out of his hands. They have video proof the car is being used in competition events. I told them there is no insurance while racing and if something did happen they would never ever hear about. Said they didn't care. Were worried someone would find out it was insured and they would have to fight the litigation. The only reason I had it insured in the first place is, I will occasionally go out on the country roads in my neighborhood and bed brakes or do some light testing. The street car is still insured with them. $30K agree value and yes I have to send pictures. I've had State Farms forever. 5 cars, trailers, 2 houses, my business......they don't seem to care about. Be aware.....big brother is watching!

  16. #16
    Member
    Join Date
    Jan 2017
    Location
    Melbourne, Florida
    Posts
    53
    Post Thanks / Like
    A lot of this depends on which state you're in. However most will find that insurance companies that specialize in collector and kit cars do much better. Hagerty's, Grundy's, and Southern Home to name just a few. However, they ARE NOT insurance companies but brokers. For example Grundy's is written by Philadelphia Ins. Co. This is NOT a problem. Coverage is excellent and most of their policies have $0 deductible collision and comprehensive coverage. I have 12 cars covered by Grundy's, including my Mk IV FFR. Coverage and cost will be much better than State Farm in most cases. They have liberal use terms and their coverage premiums stay pretty steady. I used to have State Farm too, had them for over 40 years but when they refused to cover my 69 Corvette for its current appraised value, I looked around. They did me a big favor. I went with Geico on my everyday driving vehicles and took Hagerty's for my two collector cars. As I added collector cars, I switched to Southern and finally to Grundy's. I carry $500K liability and Uninsured Motorist, agreed value on the cars. I have to carry maximum liability limits due to my umbrella policy requirements.

  17. #17
    RR20AC's Avatar
    Join Date
    Jul 2015
    Location
    Puyallup/WA
    Posts
    394
    Post Thanks / Like
    Blog Entries
    1
    Thanks for all the information everyone. Robbin at Midwest was most helpful and now is covering my car.
    20th Anniversary MK4 Roadster, #8752, 18 of 20, Delivered 12/03/15, 1st Start 01/28/2017, off to paint 4/13/2017, Forte 351w/ Holley EFI, Forte throttle linkage, TKO 600/Forte Hyd. Clutch, UniSteer Electra Steering, RT's turn Signals, many Breeze parts, Paint by the Jeff Miller. Finished on 10/08/2017. 500 mile inspection on 10/21/2017, 3000 mile inspection on 1/14/19.

  18. #18
    1965daytona's Avatar
    Join Date
    Oct 2012
    Location
    Miami, Fl.
    Posts
    37
    Post Thanks / Like
    I had the same problem with State Farm Ins. here in Miami, Fl. Have my home and 2 other cars with them. When I told them I wanted to insure my new FF Coupe, they gave me the run-around. Decided to go with Robbin @ Midwest.
    Herb

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Stewart Transport

Visit our community sponsor