madslow

im in NJ. im looking for the best insurance company that can insure a car that you tell them how much you want it insured for. lets say car itself in book value is worth only $15k but you put over $40k worth of mods on it making the overall value of the car to be $55k+. what insurance company would insure this car for its real overall value by paying the insurance for a $55k vehicle?

tektrans

iTrader: (23)

You have to do a search for "classic auto ins. coverage" and then check if they write to NJ. If you list the mods and have receipts they will cover you for them.
However, you can only use the car less than 3000 miles a year, has to be garage kept, can't be used to go to store, work etc. OH yeah, in many cases you have to have a spotless driving record.

madslow

im only planning on driving the car the most 2x a week which would be less than 150miles per week during weekends to go to meets/races. i dont have a garage but i do live in a gated community with a security guard so itll be covered, lojack, state of the art alarm, boots on all 4 wheels, autolocks on the pedals, and chained to a light post. itll basically only be let out during the summer/spring because it will have drag radials. would all this count to be able to get classic auto insurance? its not exactly a classic but more of a 93 mazda rx7 with around 40k of engine mods.

STRIPSTAR

iTrader: (4)

Na, You need Chubb Group's Agreed value auto policy. They insure newer cars for agreed value.The classic car policy is no good, cars inst old enough and you still have to have primary auto coverage to get it anyway.

STRIPSTAR

iTrader: (4)

and no one is gonna cover it for racing.

madslow

i can always say its a show car. it will just have 12" drag radials in the back and roll cage inside . but everything else will have a nice paint job (ferrari red) and clean engine bay (black painted bay) and other goodies which makes the car show worthy.

ill pay the premium for a $50+k car. the only thing im worried about is car theft over anything else. im a safe driver and ill be locking up the car during the weekdays (wheel boots on all 4 wheels, autolocks on all pedals, cut off switches, clifford alarm, lojack, car cover, etc) and only take out the car on nice sunny rain free weekends. you cant beat a tow truck though . i also live in a gated community with security guards and ill have a daily beater for everyday use.

all receipts with a sum of $50k+ will also be provided as proof of the true value of the car.

qwikz28

iTrader: (12)

find a relative out of state and insure it there.

PA Z06

Yep Tyson is correcto

tektrans

iTrader: (23)

I'm sorry, it's called "Collectors" insurance, not classic.
Any car, any year, can be a collector.

madslow

i heard progressive insures your car and asks you how much $$$ of aftermarket mods you also want insured and they base your premium on that. i think ill go progressive.

STRIPSTAR

iTrader: (4)

Progressive doesn't do NJ
Most companies will give you some added equipment coverage for a charge.

7DMACH1

www.parishheacock.com been with them for 15 years.

madslow

aww poop.

i was thinking that maybe an insurance company like geico can insure a $15k car worth $50k with mods (with receipts) and have me pay the premium for a $50k vehicle? i know insurance companies do not usually insure aftermarket mods on a 10k vehicle when the owner only pays the premium for only the 10k value of the car.

do you guys know if geico can insure a 15k vehicle with 35k worth of mods for the value of a 50k car? billing me insurance for a 50k vehicle.