insurance for Zs with a lot of $$$ into them?

[zredbaron]

Hey guys.

 

Problem: insurance companies say the Zs are worth $2-3k if something were to happen. If I were to mandate that the car is covered for say $20k vice $2k, the premium jumps to over $1500 for six months. Ridiculous!

 

I have heard that there are companies that specialize in insuring antique cars and the like.

 

Any of you guys have solutions? Like most of us, I have a lot of money invested in my Z and I want to protect myself...

 

Thanks.

[Mike kZ]

I use these guys http://www.hagerty.com/ It only costs me $360 per year for $20,000 insured. That is for complete coverage with no deductible

[Guest Nic-Rebel450CA]

I use these guys http://www.hagerty.com/[/url'] It only costs me $360 per year for $20,000 insured. That is for complete coverage with no detuction

 

I'd be very interested to see the specifics of that policy (especially as I work for an insurance company). Normally you can only get that kind of price for a classic if it is driven very rarely and/or registered as a special use vehicle.

 

To answer the original question, there are a growing number of insurance companies that allow you to add coverage for modifications and accessories. There is typically a limit though, and I dont think that it would go all the way up to include $15,000 worth of add-ons, but some companies may. With 21st century, I found that I could add coverage for $5000 worth of add-ons for about $12 per month with a $100 deductible. (No, I dont work for 21st century)

 

Of course, if you just want to have liability only, and get into an accident where the other person is at fault, then you just get to follow my lead to try to get your money

[Guest smoov280zx]

Hey Nic, since you work for the insurance co., let me ask you this. My car was declared totalled by hail damage, and i was offered 2000 and they take the car, or get 1600 and keep it. Well I kept it, so now it's totalled and I only have liability. This is what it looks like now.

 

 

As you can see, its been fixed. Is there a way I can get it retitled so i can actually get full coverage on this thing?

[Guest Rusty260z]

Too bad Hagerty and most anything else specific to antique/classic cars won't let a daily driver be the insuree. My Z is gonna be my means of transportation....yet I don't feel like screwing with most insurance companies and their ideas on classic cars. I guess 21st century is something to checkout next and see if that qualifies.

[80LS1T]

You could buy another 280ZX and use that car for the title...this is kinda of illegal though You would have to atleast swap VIN plates on the door jam and the dash, I dont think you would have to swap the part on the firewall that is punched into the firewall(yeah that would be kind of hard to swap with the engine in the car.....)

 

 

Guy

[Guest Nic-Rebel450CA]

I can answer that question, but it actually has nothing to do with the fact that I work at an insurance company.

 

Getting the salvage title cleared is done through your local DMV. I am not sure if all states allow you to do so, but I know here in CA, all you have to do is contact the DMV and let them know that you would like to get a salvage title cleared. You can get your car inspected, and if it passes, then you can get the salvage title cleared. I have never done this before, so I dont know if the DMV does the inspection, or if you just have to have it inspected by a licensed mechanic. Check with your DMV for more details.

 

Also, as a note about the value of your car, check out http://www.nadaguides.com (I know that it wont help much now, but it may be usefull for future referrence)

 

I am not sure what year your ZX is, but here is the valuation of a 1981 280ZX:

http://nadaguides.com/Values/ValueCategoryReport.asp?UserID=530808060E49D&DID=38014&wSec=2&wPg=1207&CategoryId=7&MakeId=1130&VehicleId=25067&Year=1981&ColorId=

I'm still fighting over the value of my 1970 240Z that was damaged in an accident. Being that mine is a 1970 and a low VIN and has some upgrades, I am also having a professional appraisal done.

[vashonz]

GRM (or classic motorsports) had an article on collector/racecar insurance. They discussed the different types of coverage and what would be included with each one, it might be somthing to check out. You might check their website or give them a call.

[dmyntti]

To clear a salvage title in Ohio you have to fix the car then drive it to an inspection site (I believe there are three in Ohio) and have it inspected. You will need the VIN number from any car you got used parts off of and a reciept for the parts you put on. Once this is done you get a title that reads rebuilt salvage but it can be registered and insured. The state inspection sites are only interested that all of the safety devices are on the car and it is safe to drive, they don't car what it looks like.

 

For insurance on my 55 Ford i have declared value insurance with Nationwide Insurance and it isn't too expensive at all. You might check with them.

[Guest Rusty260z]

Well if anyone comes across one that will insure a vehicle w/o mileage limitations and also isn't limited to those 25 (I'm 23) or older post it up. I've looked at a ton and no luck so far.

[zredbaron]

thanks a lot, guys. that was a lot of help. are there more insurance companies like hagerty?

 

best of luck,

mark

 

PS... Mike KZ, how did you fit dual exhaust under your Z? Thats awesome!

[Moridin]

I'll get the name of it. My dad came across one for my Z. Because I don't have a bunch of money in it yet, it was only going to cost me something like $30 a month. At any time you could could update the coverage to accomodate any changes in the vehicles.