Insurance

[OnyxM400]

I'm starting to look around for instance. Some systems don't have very many options when quoting online, thus the differences in coverage. So far:

$90k stated value

Hagerty (30k liability, $1k deduct, no mileage limit): $1600
Grundy (500k liability, $0 deduct, no mileage limit): $1300
StateFarm (500k liability, $1k deduct, 7500 mile limit, multi-line discount): $1550 - Subtract uninsured motorist and it drops to $1400.
ANPAC: (500k liability, $1k deduct, no mileage limit): $1500
Allstate: No Kit Cars
AAA: No Kit cars in NV (though they do in CA)

[No Lotus]

Thanks for the info. Do you know if any of these insurers specifically exclude coverage if the car is tracked?

[OnyxM400]

Hmm, not too sure about that. Didn't ask these guys. Anyone know?

[Joel]

I participated in vintage racing (real competition events) using my '62 S2 Lotus S7 for more than 10 years. During that time, I also drove the car regularly on the street and it was insured by Hagerty. Their policy specifically excludes coverage during competition/speed events but the car was fully covered for street use (including while on the tailer to and from events). I don't think you will find any US company who will insure a car for on-track events (although, judging from the PH site, there are some UK companies that will cover a car for open track day events on a per-event basis). Overall, I have been doing track events for more than 30 years, and I have always considered them to be self-insured situations. I think you will find that is the only "policy" you can count on.

[cutaway]

Thanks for the info. Do you know if any of these insurers specifically exclude coverage if the car is tracked?

I insured with Classic Automobile Insurance Agency, Inc.
. http://www.classicins.com/Contact.html I was really impressed with them. Here is about how the conversation started...

me: "Hello I would like to insure a kit car."
agent: "Where are you located?"
me: "Maryland"
agent: "What is the year make and model?"
me: "2005 Noble m400"
agent: "Ok, where did you hear about us?"
me: "1G Racing"
agent: "Oh... ok"
me: "Wait a second it sounded like you have heard of 1G racing."
agent: "Yeah, we have insured several Nobles - we haven't insured an M400 yet."

At that point, I was damn impressed. I was a hell of a lot easier not having to explain everything.

I had the same question about whether the coverage would be excluded if I ever tracked the car. The conversation went something like this...

me: "I know that wou don't insure me when I am on a racetrack, but if I track it occasionally will it void my coverage off the track?"

(at this point I am expecting the insurance agent to choke on the concept that they are insuring a race car)

agent: "We will cover you in the paddock, but the second you go past the gate to the track area, you are not covered. After you come off the track and you are in the paddock area you are covered again."

Now that is my kind of insurance company! The best part is that they allow you to modify the car for racing too. I disclosed that I wanted to plumb in a fire extinguisher, increase horsepower, and modify the car for the track - no problem at all.

On the strange side they won't insure you while parked at a public golf course. Must be some story behind that - they went out of their way to print it on the application. I don't golf - so I don't care. There is something slightly cool about insuring racecar drivers but steering clear of those wacky golfers.

The insurance took about two business days to underwrite, then they faxed me temporary insurance cards. They insured it before I got the VIN using the chassis number. It costs me about $1700 for 5,000 miles of pleasure use.

One thing that caused me to shy away from some of the other collector car insurers was that they seemed only to insure for club activities or parades.

Classic Auto Insurance does not cover me for school, work, shopping or any other kind of chore . But it does cover me for having fun, driving around, going to the track, movies, restaurants. Just have to remember not to do anything boring on the weekend and I should be good.

I highly recommend them. Talk to Drew if you call them...

Insuring the Noble turned out to be a whole lot easier than I anticipated.

[caia]

I wanted to let this group know more about Classic Automobile Insurance Agency and how we can help current or prospective Noble owners secure insurance for their cars. Our agency is one of the few that will do any year vehicle as long as the vehicle has current collectible value or potential to be a collector in the future. We insure all types of kit cars (noble, cobra replicas, lamborghini replicas, etc). As far as how we can help on your Noble, our process is very simple. You can call and get a quote over the phone (800-397-0765) or visit our website (www.classicins.com) and fill out a quote form. We have different mileage plans (1000, 3000, & 5000) and deductible options (500, 1000, 2500, 5000) to help tailor a premium that is right for you. The values of the vehicles are insured for Stated Amount. Our program allows for occasional pleasure use driving, car shows, & club events. We do not insure for regular use driving. We do not provide coverage for the vehicle while the car is on a track or being raced, however, it is covered outside of the track activities (i.e. paddock, track grounds, etc). Feel free to give me a call if you have any interest in getting a quote or you have general questions that I could answer for you. My name is Drew Yagodnik with Classic Automobile Insurance Agency, we are located in Indianapolis, IN and we insure in most states (we do not have coverage available in the following states, LA, AR, MS, SC, AK, HI, and we only have physical damage coverage only in MA) - give me a call at 800-397-0765 or visit our website (www.classicins.com)

[dino]

Progessive was willing to insure me with a good rate. I finally went with my long time carrier Allstate. My rate with no mileage restrictions or use restrictions sounds about like your rate. Also if anyone is interested, you can get track insurance from http://www.laurelde.com/

You can also get DE insurance from http://www.americancollectorsins.com/de_quali.htm if you live in the right state.

Dean T

[No Lotus]

Thanks Dean. I'll have to check out that Laurel track coverage.

[OnyxM400]

Update: State Farm for Nevada: Underwriters would not insure it. Have to go another way.

[OnyxM400]

Update: Thanks to Dean T, the Allstate office in Nevada was able to figure out how to insure the noble.

For my wife and I, $1k deductable, $500k liability full coverage, no mileage limit was $1226.92 with multi-line discount and good driver. Wow, that's cheap.

Sweet