I'm waiting to hear back from my insurance company on what my options are since my 92 RS is less than 25 years old. If something should happen to it after the LS1/T56 swap I don't want to get screwed with a $2500 check for a 92 RS with 185k miles.

How are you guys protecting your LS investments? Thank you in advance.

 

Do you have a "daily driver", and is the car keep in a garage when not on the road?

If so - call Grundy 888-647-8639.

 

I'm using Midwest Classic Car Insurance with a declared value. If your car is a daily driver that complicates the insurance problem. I'm sure you could still get a policy with a declared value but it would be a lot more expensive.

If it's not a daily driver then get some quotes from some classic car insurance Companies. Ask specific questions about the policy coverage, driving to work, car storage, driving out of state for a car related event etc and chose the best company based upon your needs.

 

The car has NOT been a DD and always garaged since '01. Stored winters since '99. It gets driven regularly in the summer, 4-5 autoX, maybe 1 HPDE and a couple trips to the drag strip. Might put 3000 miles on a year. My current policy is a normal one with reduced rates for less that 7k miles a year.

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My insurance office (State F) called back and said that because the car is not 25+ years old or a limited production car (60k 92 RS's, didn't seem to care about combinations of options or # remaining alive) they can't offer me a stated value policy. I tried to disagree with the limited production part hoping I could outsmart my way into a loophole but I was wasting my breath on the office lady though. She is only the middle person between me and the classic/collector underwriter. She said the underwriter recommended I keep all my receipts and take lots of photos of the car and parts so if something should happen I might get a higher value. She also said I was welcome to give them some photos to send in to review. I felt less than helped or taken care of when i got off the phone.

I have a stated value policy with them for my 69 camaro. I'm happy with that. I just wish I could get the same thing for my 92.

 

I heard the same from State Farm. All they would insure my car for was $7K
Even gave them a list of components totaling over 3X that amount & still no dice.


Hagerty & Grundy offer great rates for a show car. Hagerty does not cover anything for a limited daily driver & Grundy gave me a high price (Around $1200) to cover it if used for occasional daily use.

 

My other cars are with State Farm too. I also asked them about a declared value and got the same response that you did. I'm happy with the rate I got with Midwest Classic Car Insurance. I was able to add the ability to drive to work occasionally with my policy...only do it a few times a year but its nice to know I'm covered when I do. Most other collector/classic insurance companies didn't offer anything like that. Good luck with your search!

 

I have used American Family and Nationwide in the past with my car. Both have allowed me to declare a value for the car. I currently have American Family and all they required were pictures of the exterior of the car. I have my car set at $15k and pay about $30 a month for it when I have full coverage on it. In the winter they allow you to use storage insurance which costs less than $10 a month.

 

definitely look into the specialty companies for collector cars. they are car people too and understand our predicament. i think mine is less than $400 per year for $20k of declared value. i also have no mileage restrictions.

keep in mind that none of these insurance companies will cover anything when your car is wrecked on the track.

 

Here's my take, if I may...

Relatively short backstory: My first Camaro was a 79 Berlinetta. I was insured through USAA (Dad is military Vet) and when I insured it, I asked about coverage as I made improvements as that was the whole point of buying the car. They told me (and stupid, stupid me for not getting it in writing! I was young...) that as long as I had receipts for everything then I was covered for actual value and not assumed based upon age/miles/etc.

Fast forward, I get totaled by a jerk going 80 mph on a city street (limit is 40) running a red light. And I get totally screwed. Receipts of more than $8k, and they refused every. single. one. Even took over $100 off because original radio wasn't in (had no radio at the time), and refused to give it back after I threw the stupid thing back in the car. I ended up having to take a buy back as they only wanted to give me 1600 for the car, drove it home 5 miles because they refused to tow it to my house, and sold off my brand new engine setup to pay the rest of the loan off. Sat for 3 years in my garage, eventually broke down and sold the car off and kept the majority of my parts for various other things. As a side note, my brother had a bad *** subaru he had for 3 weeks that he slid into a curb and broke some parts (which I could fix in a day), USAA totaled him out too, dragged it out 3 weeks, and screwed him as well.

Long story short: in my experience, no matter who you get insurance with, they'll screw you. Understand that if you wreck, buy the car back and salvage what you can. I've got progressive now, and while they have been pretty good to us, I don't for a minute think they'll take care of me if I have issues. I'm prepared to take a loss, and salvage everything I can...

 

I have a Grundy policy on my 96 Firebird. Insured value of $16,000 and $300,000 each - for Bodily Injury and Property Damage Liability, Uninsured and Underinsured drivers. How much? $271 per year for 2015-2016. Just need to have a daily driver and garaged when not in use. Unlimited mileage. Had a policy with them for years.

.

 

American Family here...they required an official appraisal be done on my car before I can ask them to insure it for "X" amount of dollars. The appraisal costed $200 and came up to $26k. The appraisal identified all the exact modifications and did some recent cost comparisons.

If ever my car was stolen or "totalled," I'd get a check for 26k. It didn't raise my rates much, maybe $20/month.

 

Thanks guys! I can't help but be curious how much it helps most of you with stated value policies have Z28's. If i had a Z28 or Z03 package (not a fan of the stripes anyway) I would be in like flint and never made this thread! I am going to give Grundy, Hagerty, and that Midwest company jbenge mentioned a call.

Thanks again.

 

Yes, appraisal, and a build thread here on TGO!

 

No build thread required. Maybe a hack appraisal company would go off that instead of inspecting the car and a no-name insurance company would accept it. You can try that but I don't think it would work.

 

i think he either wanted a build thread for us to enjoy.....or it was possibly a joke, not to be taken seriously.

 

Yah, it's kinda hard to tell, if its a joke or not.

 

Wow plum92_camaro that is a nice looking RS, I know you're proud of it. Just be aware the insurance companies are not here for your benefit,they are in it to make money.

 

Thank you. It does need a paint job. This pic does a good job of hiding that.

 

Ill have to check into them

Ive been riding on a gamble in the past knowing buy-back and salvage was the only recourse

 

I go through a company called J. C.Taylor, less than $400/yr full coverage, no deductible no mileage limit either. I garage it or store it anyway, so I don't remember if that was a condition. I have made a claim through them due to an exhaust pipe laying in the road, the took care of it, rate stayed the same.

You'll need to provide a picture of the car, can't be modified for racing (roll cage, like any insurance company, they're not going to cover on track incidents). They had no problem with mine being declared at $15k.

 

Grundy...

I have a 91, replacement value @ $20k and pay just under $300 a year...
After it's 25 years old, the price of insurance drops even more with Grundy.
I got one more year of $300 and the next year it drops... but I'll probably be updating the value here by December when it's all together and painted, and valued around $40k then....