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Interested in the name of a reputable insurace company for coverage for fire/theft on a project 1960. An origional car that is now in zip lock bags and looking at several years to retore. Too much value in the parts to risk as my learning curve allows assembly. Thank you in advance for any information or experience.
Michael Somers 21033
I would check with the ones who insure classic cars, such as Grundy, Hagerty, Classic, etc. There are several others that you can find on the web with any search engine. Never tried to insure one apart like yours, but I'm sure one of them will have an answer for ya.
Terry
In the condition that your car is in, I don't think that an automotive insurer would deal with it. However, your homeowner's insurance may cover it. You may need to obtain a special endorsement under your homeowner's insurance (and pay an extra premium) to ensure coverage. In any case, I'd check with your home's insurer first.
Currently my vettes are insured with State Farm, since I occasionally take them to work (SIN). In the winter, I drop the liability and collision and just keep the comprehensive coverage. Does a non-driven car have to be together to be covered or count as a car? Interesting question.
Usually, if a car is insured as a complete, running unit, if it is subsequently dis-assembled the car and its components will remain covered under the auto insurance policy. So, if for instance, some of the parts of the car were stolen from the garage, the auto insurance comprehensive coverage would cover it.
However, I think that the difference here is that the car is not currently insured. Usually, auto insurance companies, especially the "main-stream" type like Allstate, State Farm, GEICO, etc., will want to inspect a used car prior to accepting it for coverage. This is so pre-existing damage can't be later filed as a claim and to be sure that the vehicle's condition doesn't make it too much of a risk to insure. In other words, the companies want to establish a "baseline" for exactly what it is that they're insuring. I doubt that an insurance company, especially a "main-stream" type, would accept for coverage a vehicle that is completely dis-assembled and in "bags and boxes". However, as I say, if the vehicle were previously accepted for coverage and THEN dis-assembled, the vehicle and the components are usually covered.
The specialty insurers like J.C. Taylor, Haggerty, etc. might have different standards and may well accept such vehicles. I doubt it, but it's possible. I'd be interested to learn how this whole thing works out.
I convinced Hagerty to insure my '58 when I still had a year or so left to go on the restoration. Mostly just interior and misc. other things left to do. The photos I sent them showed a mostly complete car. I'd be surprised if they would insure your car in its present state.
Try American Collectors Insurance, Inc., 1-800-360-2277. I've had my basket case insured for the value of the car (a roller when I started) plus the value of all the parts I've acquired over too many years to mention. The car was together w/o drive train and professionally appraised w/photos when first insured, and I've provided updated parts lists (with costs) and photos two or three times since when I've increased the coverage. It's insured for agreed value, at a reasonable cost, and except for a recent "discussion" regarding an increase in the total value I wanted (to which they ultimately agreed), there have been no problems. They are well aware that it's a long term restoration and seem to be OK with that. I've had no claims, so I can't speak to their record in that regard. Best of luck.
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