So, I had a very long, pleasant, but disappointing, conversation with my insurance agent today. I had the same conversation a several years back with a different agency. I got the same basic response from both of them.
Basically, I have my 73 K5, all fiberglass body, GM crate engine, custom/new everything (yes everything from fasteners to brake lines to wiring and everything in between). Lots of custom add ons.
So far, I've invested $30k+ over 10 years of the build.
Basically, it's not insured. Even when it's done,the choices for stated value are antinque/restored/custom type insurance (like Haggerty), those policies confine your vehicle to minimal use policies (car shows, parades...etc). The other choice is regular passenger vehiclewhich allows normal usage, but and you can only add so many "customizations" above book value. Basically, she was saying, the most she could get it insured for is mabey $12k or so. And as it sits, unregistered, it's not covered under my homeowners or auto policies, even most of the major parts around not on it wouldn't be covered, and since it's not register-able yet, I can't get the secretary of state (DMV in most other states) to give me a registration. The fiberglass body replaced the steel one which means the VIN plate is bye-bye, either that or I illegally remove the vin plate (which I already actually did and ditched the body) and re-attach it to the new body....yes, that's against the law, technically,here in MI anyway, I have to get the state police to inspect my vehicle and issue a built vehicle VIN.
So, she's saying, and I've heard this before, as it sits in the garage, uncompleted it's not covered, and even when I finish it, it's not really insurable for the value I have in it. She was saying the best she'd be able to do is about $10k in "customizations" added to the book value (basically nothing). Moreover, there's no type of add-on to homeowners or auto, or no other type of policy, that will cover it. I asked about umbrella policies, what if I created some sort of "transport" business, can I get it covered that way. She wasn't just blowing me off, she knows me, and I respect her as an agent, 95% of insurance agents are do-nothing policy initiators and that's it, I really respect this agencies business practices, they do get very involved on claims and help out in alot of different ways.
Anyway, so I'm wondering, what's everyone doing for insurance of their rigs. People build $40k buggies and take them off-roading. People drop $15k engines in their more than minimal use vehicles just so they can take 'em to the track on a weekend. THere's got to be some way I can insure this uncompleted and when I finish it. There just has to, seems ludicrous to me that some insurance place doesn't offer a policy that would cover it somehow.
Does anyone know of a place that will cover a non-minimal use, custom built, stated value auto policy????
Basically, I have my 73 K5, all fiberglass body, GM crate engine, custom/new everything (yes everything from fasteners to brake lines to wiring and everything in between). Lots of custom add ons.
So far, I've invested $30k+ over 10 years of the build.
Basically, it's not insured. Even when it's done,the choices for stated value are antinque/restored/custom type insurance (like Haggerty), those policies confine your vehicle to minimal use policies (car shows, parades...etc). The other choice is regular passenger vehiclewhich allows normal usage, but and you can only add so many "customizations" above book value. Basically, she was saying, the most she could get it insured for is mabey $12k or so. And as it sits, unregistered, it's not covered under my homeowners or auto policies, even most of the major parts around not on it wouldn't be covered, and since it's not register-able yet, I can't get the secretary of state (DMV in most other states) to give me a registration. The fiberglass body replaced the steel one which means the VIN plate is bye-bye, either that or I illegally remove the vin plate (which I already actually did and ditched the body) and re-attach it to the new body....yes, that's against the law, technically,here in MI anyway, I have to get the state police to inspect my vehicle and issue a built vehicle VIN.
So, she's saying, and I've heard this before, as it sits in the garage, uncompleted it's not covered, and even when I finish it, it's not really insurable for the value I have in it. She was saying the best she'd be able to do is about $10k in "customizations" added to the book value (basically nothing). Moreover, there's no type of add-on to homeowners or auto, or no other type of policy, that will cover it. I asked about umbrella policies, what if I created some sort of "transport" business, can I get it covered that way. She wasn't just blowing me off, she knows me, and I respect her as an agent, 95% of insurance agents are do-nothing policy initiators and that's it, I really respect this agencies business practices, they do get very involved on claims and help out in alot of different ways.
Anyway, so I'm wondering, what's everyone doing for insurance of their rigs. People build $40k buggies and take them off-roading. People drop $15k engines in their more than minimal use vehicles just so they can take 'em to the track on a weekend. THere's got to be some way I can insure this uncompleted and when I finish it. There just has to, seems ludicrous to me that some insurance place doesn't offer a policy that would cover it somehow.
Does anyone know of a place that will cover a non-minimal use, custom built, stated value auto policy????
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