[LuisA]

Folks,
I have read some folks in this forum complain about the premiums for the KR......I just purchased full coverage with 250k/500k limits and $500 deductible for only $691.00 PER YEAR. They offer 1500/3000/6000 miles per year. I purchased the 3000 miles option.

Service was great and painless........hopefuly it will continue this way if I ever need them (hope not!).

Heacock Classic
Angela Burnett
(800) 678-5173
aburnett@heacockclassic.com

Just passing along what I think is a great deal!

[dennis429]

LuisA, on Sep 23 2009, 01:56 PM, said:

Folks,
I have read some folks in this forum complain about the premiums for the KR......I just purchased full coverage with 250k/500k limits and $500 deductible for only $691.00 PER YEAR. They offer 1500/3000/6000 miles per year. I purchased the 3000 miles option.

Service was great and painless........hopefuly it will continue this way if I ever need them (hope not!).

Heacock Classic
Angela Burnett
(800) 678-5173
aburnett@heacockclassic.com

Just passing along what I think is a great deal!

What is the stated amount on the car

[SVTpower]

.......and they know it's a KR? I hope nothing bad ever happens because if it does and you need them........watch your premiums after they dish out money for parts like the hood or the splitter or..........your renewal envelope will be thicker. Insurance companies never give without taking back.......never

[mr4teth]

LuisA, on Sep 23 2009, 02:56 PM, said:

Folks,
I have read some folks in this forum complain about the premiums for the KR......I just purchased full coverage with 250k/500k limits and $500 deductible for only $691.00 PER YEAR. They offer 1500/3000/6000 miles per year. I purchased the 3000 miles option.

Service was great and painless........hopefuly it will continue this way if I ever need them (hope not!).

Heacock Classic
Angela Burnett
(800) 678-5173
aburnett@heacockclassic.com

Just passing along what I think is a great deal!

Interesting ..... Heacock didn't limit my miles. I wonder if I'll have a surprise next year at renewal? But yes, they are very nice people to work with and their premiums are unbeatable!

[kestrel]

Wow! I'm going to have to check into that company. I have mine insured at a stated value of sticker price through Progressive right now (my regular insurance carrier) and it is really expensive. My agent was supposed to be looking into other options, but I haven't heard from him. It's been too long and I'm going to find someone else anyway. After everything I've heard about parts costs, I didn't want there to be any problems getting a repair taken care of. Also, if I need to replace the car due to a total and prices go back up, I wanted to be covered from that end as well.

Looks like I'll be making a call to Heacock tomorrow.

Thanks for the info!!!

[LuisA]

Stated valued is what I paid $59,900.00; that IS the value of the car. At renewal, if price have gone up, I will change the stated valued. Insurance cost is not so much based on stated value but on the type of car. Example: a two seater sport car priced at $30k will have a much higher premium than a 4 door sedan valued at $40k.

Yes, they want to know your estimated yearly mileage........that is how the provide such a low premium.......based on low expousure to an accident = low mileage.

Yes, they know it is a KR......I email them the Ford and Shelby window stickers, so they also know the MSRP of the car, options and mods done by SAI.

I have spoken with many at car shows who use this insurance and none had a bad thing to say. If an accident takes place, well, I won't cross that bridge until I get there......if ever.

They also want copies of your insurance policy on your other cars. They won't provide a higher liability limit on your classic (GT500) than what you have on your other cars.

Just sharing a good insurance deal for those of you who may be interested.

The KR would have been at least double if I went with my current carrier.

[ctann]

LuisA, on Sep 24 2009, 05:58 AM, said:

Stated valued is what I paid $59,900.00; that IS the value of the car.

Guys, be careful - there is a huge difference between "stated value" and "agreed value". Stated value is just that - a statement. It is not binding, and the insurance company will still determine the "actual value" when it comes to a loss. Agreed value is a written agreement between the insurance company and the owner, and in this case there is no possibility of argument over the vehicle value. I assume that Luis has an "agreed value" policy...

I insured my S302E with Heacock as well (for agreed value of my purchase price), along with my '68 KR. I recently swapped to "Barrett Jackson Approved" by Delp/AIG (or whatever that part of AIG is calling themselves now). A little cheaper, fewer restrictions, and I liked some of their extras - such as the appreciation coverage, where they will pay up to 150% of the agreed value if the value of the vehicle has actually increased, and repair-value-loss coverage, where if a perfect repair still reduces the value of the car (common for collector cars), they will cover that difference.

As with any of these collector policies - do make sure you follow their rules, if they can prove you insured the vehicle as a collector vehicle, and then drove it as a "daily driver", you could find yourself without coverage...

DISCLAIMER: I am merely a policy holder, I have nothing to do with either company...

This post has been edited by ctann: 24 September 2009 - 09:59 AM

[LuisA]

Ctann,
In your case, you KNOW how much your 68 KR is worth.....in my case, I have no idea if my 08 KR will be worth more or less now that I took deliver (my guess is less). Once I get the actual policy, I will read the fine print and understand what value is my car insured to in case of total loss. Thanks for the heads up.

[GT500-07]

I think DELP would be cheaper and better. I have the CSX insured for $125K and the SGT insured for $65K and onlypay $900 per year. Great policy and coverage.

[kestrel]

Hi Luis,

Be thankful you don't live in Arizona! I talked to Angela today and here's what it came out to for me:

Agreed-upon Value: $65,000 (I want to recoup my taxes if a total loss)
Limits: 100/300
Deductible: $1000
Miles: 3000

Annual Premium: $1028.00

I'm still going to go with them as it's half of what I'm paying now and they seem to have good reviews. By the way, she talked to her adjuster, showed her the window stickers, and they will definitely repair the car with Shelby parts in the event of an accident. I told them how much the parts cost and they said it was no problem.

Thanks for the heads-up on the contact!!!

Joe

[svtakach62]

kestrel, on Sep 24 2009, 08:15 PM, said:

Hi Luis,

Be thankful you don't live in Arizona! I talked to Angela today and here's what it came out to for me:

Agreed-upon Value: $65,000 (I want to recoup my taxes if a total loss)
Limits: 100/300
Deductible: $1000
Miles: 3000

Annual Premium: $1028.00

I'm still going to go with them as it's half of what I'm paying now and they seem to have good reviews. By the way, she talked to her adjuster, showed her the window stickers, and they will definitely repair the car with Shelby parts in the event of an accident. I told them how much the parts cost and they said it was no problem.

Thanks for the heads-up on the contact!!!

Joe

Joe make sure they know you are a Team Shelby member It lowered my premium when I told Heacock this .

SVT

[kestrel]

svtakach62, on Sep 24 2009, 06:33 PM, said:

Joe make sure they know you are a Team Shelby member It lowered my premium when I told Heacock this .

SVT

Thanks for the tip! I'll let her know and see what happens.

[6-Speed]

kestrel, on Sep 24 2009, 06:15 PM, said:

Hi Luis,

Be thankful you don't live in Arizona! I talked to Angela today and here's what it came out to for me:

Agreed-upon Value: $65,000 (I want to recoup my taxes if a total loss)
Limits: 100/300
Deductible: $1000
Miles: 3000

Annual Premium: $1028.00

I'm still going to go with them as it's half of what I'm paying now and they seem to have good reviews. By the way, she talked to her adjuster, showed her the window stickers, and they will definitely repair the car with Shelby parts in the event of an accident. I told them how much the parts cost and they said it was no problem.

Thanks for the heads-up on the contact!!!

Joe

You can do a lot better than that with the Barrett Jackson endorsed insurance (Delp Company) with higher limits and zero deductible. Coverage is based on "agreed value" and if a mishap occurs, you choose your shop and repairs are made with original manufacturer's parts.

Call Amy toll free at 877-545-2522.

This post has been edited by 6-Speed: 24 September 2009 - 09:24 PM

[LuisA]

ctann, on Sep 24 2009, 01:58 PM, said:

Guys, be careful - there is a huge difference between "stated value" and "agreed value". Stated value is just that - a statement. It is not binding, and the insurance company will still determine the "actual value" when it comes to a loss. Agreed value is a written agreement between the insurance company and the owner, and in this case there is no possibility of argument over the vehicle value. I assume that Luis has an "agreed value" policy...

I insured my S302E with Heacock as well (for agreed value of my purchase price), along with my '68 KR. I recently swapped to "Barrett Jackson Approved" by Delp/AIG (or whatever that part of AIG is calling themselves now). A little cheaper, fewer restrictions, and I liked some of their extras - such as the appreciation coverage, where they will pay up to 150% of the agreed value if the value of the vehicle has actually increased, and repair-value-loss coverage, where if a perfect repair still reduces the value of the car (common for collector cars), they will cover that difference.

As with any of these collector policies - do make sure you follow their rules, if they can prove you insured the vehicle as a collector vehicle, and then drove it as a "daily driver", you could find yourself without coverage...

DISCLAIMER: I am merely a policy holder, I have nothing to do with either company...

Policy declaration page states: Insured Value.

[LuisA]

kestrel, on Sep 24 2009, 09:15 PM, said:

Hi Luis,

Be thankful you don't live in Arizona! I talked to Angela today and here's what it came out to for me:

Agreed-upon Value: $65,000 (I want to recoup my taxes if a total loss)
Limits: 100/300
Deductible: $1000
Miles: 3000

Annual Premium: $1028.00

I'm still going to go with them as it's half of what I'm paying now and they seem to have good reviews. By the way, she talked to her adjuster, showed her the window stickers, and they will definitely repair the car with Shelby parts in the event of an accident. I told them how much the parts cost and they said it was no problem.

Thanks for the heads-up on the contact!!!

Joe

Joe,
I am glad it worked out for you......my policy came in at $676.00 not $691.00 as previously stated.

[kestrel]

6-Speed, on Sep 24 2009, 10:21 PM, said:

You can do a lot better than that with the Barrett Jackson endorsed insurance (Delp Company) with higher limits and zero deductible. Coverage is based on "agreed value" and if a mishap occurs, you choose your shop and repairs are made with original manufacturer's parts.

Call Amy toll free at 877-545-2522.

I'll give her a call today. I just did an online quote and it came out to $421 with higher coverage and no deductible! Hopefully, it will turn out somewhere near there. Thanks!

[kestrel]

Greetings,

I got the quote from Barrett-Jackson (Delp) on Monday. I couldn't believe my eyes! Here it is:

Agreed Value: $65,000
Liability: $500,000
Uninsured/Underinsured: $500,000
Medical Payments: $10,000
Comprehensive/Collision Deductible: $0/$0

Total Annual Premium: $385.00

Needless to say, I think I'm going with them.

[LuisA]

They quoted me $478.00 with an agreed value of $80,000. She said it was $40/yr per every addittional $10,000 on value.

Have you investigated them for service, complaints in teh case of a claim?

[kestrel]

LuisA, on Sep 29 2009, 05:33 AM, said:

They quoted me $478.00 with an agreed value of $80,000. She said it was $40/yr per every addittional $10,000 on value.

Have you investigated them for service, complaints in teh case of a claim?

I haven't heard any bad things about them and several forum members are using that company. I went ahead and bound coverage with them at an agreed value of $80,000. Annual premium = $445. There is no technical mileage restriction, but the stipulations on the car are as follows:

Exotic auto means a late model motor vehicle or motorcycle of exceptional
condition, that because of its manufacture, design, high performance, limited
production, or limited availability is expected to appreciate in value. An
exotic auto is maintained primarily for use in car club activities, or for a
private collection and used only infrequently for other purposes.

1. We do not cover any loss to collector autos occurring during instruction,
drivers education, preparation, practice, testing or participation for or in any
race, speed contest, or pre-arranged handling and performance test, whether on a
closed track, public roadway or private property;
2. We do not cover any road damage to the tires of your collector auto;
3. We do not cover any loss to your collector auto arising out of the
ownership, maintenance or operation of the vehicle when it is used more than
infrequently:
a. to drive to work, school, or for errands; or
b. during the course of your business or occupation; or
c. as backup or substitute transportation for a vehicle other than a collector
auto.
4. We do not cover any loss to your collector auto caused by birds, vermin,
rodents, or insects, provided however this exclusion shall not apply to loss
caused by collision with birds or animals;
5. We do not cover any loss to your collector auto caused by inherent defect,
dampness, mildew, mold, rot or rust; temperature extremes or gradual
deterioration;
6. We do not cover loss or damage to your collector auto caused by or
resulting from reparation, restoration, conservation or retouching, unless
approved by endorsement.
7. We do not cover loss or damage to your exotic auto driven by any person
under the age of 25 years.

Basically, I can't use it as a daily driver or be covered in a race. I don't go to the drag strip or anything anyway, so that's no big deal for me.

[LuisA]

When I spoke with Amy she said 2,500 miles/year when I requested 6,000 miles/yr. I then said that 2,500 miles/yr was not enough and she said that they do not verify odometer reading.

She quoted me based on the car and address, did not ask for copies of my policy for other cars, did not ask me for driver license number....etc. So, she quoted me w/o knowing if I have a good driving record or not (of course, I do have a good one...Safe Driver).

Teh price difference is only $198/yr for very comparable coverage. Not sure if I shoudl switch or not.