Insurance is through the roof!

[MastrHU]

Now that my VIN shows up in the system, I was able to get a no kidding quote for my GT350. All I can say is wow. I expected my insurance to go up, but not to double. Just to clarify, I'm 39, have two cars (one being a 2014 BMW 335), and a clean record. I use USAA and have a $500 deductible. The GT350 is a third vehicle that will not be driven more than 4000 miles a year.

My cost is an additional $960 every six months. Prior to that, the BMW and my SUV were $880 combined. That's over $1800 every six months for insurance. Before this quote, I had a 2015 Z28 as a filler quote which cost just under $700. Better yet, my former 97 Supra w/ 600whp was a third of the cost of the GT350 (mostly due to the car's age).

So this isn't a gripe or complaint. It's a new car with 500+ HP, so the saying is, you have to pay to play. It is a warning for the younger future owners to check on your insurance rates before you pull the trigger on the purchase. Now that some car's have been built, it would be great to see some other insurance cost comparisons.

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[krt22]

Try a different company, every company has their own way to classify cars and some charge more than others for specialty vehicles.

 

[Zodiac]

I'm about to switch from USAA. They jacked up my rate this past renewal by over $140/month for no reason. Got a few quotes from other insurance companies for about $75+ less a month.

 

[Todd15Fastback]

Since this is a Shelby GT350 and you won't be driving it much, reach out to Heacock Classic and get a value stated policy.

https://www.heacockclassic.com/

I did this on my 2003 10th Anniversary Cobra when I owned it. Drove it less than 3k miles a year and it only cost me about $400 for 35k in coverage.

 

[Steeeliskt]

Now that my VIN shows up in the system, I was able to get a no kidding quote for my GT350. All I can say is wow. I expected my insurance to go up, but not to double. Just to clarify, I'm 39, have two cars (one being a 2014 BMW 335), and a clean record. I use USAA and have a $500 deductible. The GT350 is a third vehicle that will not be driven more than 4000 miles a year.

My cost is an additional $960 every six months. Prior to that, the BMW and my SUV were $880 combined. That's over $1800 every six months for insurance. Before this quote, I had a 2015 Z28 as a filler quote which cost just under $700. Better yet, my former 97 Supra w/ 600whp was a third of the cost of the GT350 (mostly due to the car's age).

So this isn't a gripe or complaint. It's a new car with 500+ HP, so the saying is, you have to pay to play. It is a warning for the younger future owners to check on your insurance rates before you pull the trigger on the purchase. Now that some car's have been built, it would be great to see some other insurance cost comparisons.

RE the Surpa: I suspect that either you did not say anything about the mods you made to the vehicle, your broker did not relay the info, or you told the carrier directly and whoever was inputting the information decided to say fuck it and not properly underwrite it.

I'm a broker in California.. can't really help you out there. If you aren't currently using a broker, find one that doesn't charge broker fees and that has access to at least 10+ carriers. Let them look at your homeowners insurance as well as sometimes it is better to bundle, sometimes not. As someone else mentioned, due to driving it low miles and the fact that it can be considered a collector car. Hagerty is another carrier that may consider this vehicle and if you can get in their program it should be much less premium cost than your current quote. Their website states "Limited use, newer vehicles that are collectible in nature and have low production numbers may be considered for our program. Examples are sports cars and special edition models."

Chubb also offers a collector car program. However, I think all of these carriers have strict guidelines and if you have any young operators in the house or anyone in household with bad driving records, it will be hard to get accepted.

Most of the collector/classic car programs you can quote yourself online, but I do highly suggest you find a local broker who has access to all of these carriers as they will have a better chance of getting you in the program than you do on your own.

Good luck!

 

[mattlqx]

$300/mo is about what my 3 current cars cost for me from State Farm for me and my wife.

 

[Stage_3]

Now that my VIN shows up in the system, I was able to get a no kidding quote for my GT350. All I can say is wow. I expected my insurance to go up, but not to double. Just to clarify, I'm 39, have two cars (one being a 2014 BMW 335), and a clean record. I use USAA and have a $500 deductible. The GT350 is a third vehicle that will not be driven more than 4000 miles a year.
My cost is an additional $960 every six months. Prior to that, the BMW and my SUV were $880 combined. That's over $1800 every six months for insurance. Before this quote, I had a 2015 Z28 as a filler quote which cost just under $700. Better yet, my former 97 Supra w/ 600whp was a third of the cost of the GT350 (mostly due to the car's age).
So this isn't a gripe or complaint. It's a new car with 500+ HP, so the saying is, you have to pay to play. It is a warning for the younger future owners to check on your insurance rates before you pull the trigger on the purchase. Now that some car's have been built, it would be great to see some other insurance cost comparisons.

Yeah,......I have a feeling once most people get their Shelby VIN's and report them to insurance, the quotes they got are probably not going to be the same as they were told over the phone. I'm "assuming" they will be higher than quoted.
But, you know what happens when you "assume". lol :headbonk: :headbonk:

 

[fuhrius]

RE the Surpa: I suspect that either you did not say anything about the mods you made to the vehicle, your broker did not relay the info, or you told the carrier directly and whoever was inputting the information decided to say fuck it and not properly underwrite it.

I'm a broker in California.. can't really help you out there. If you aren't currently using a broker, find one that doesn't charge broker fees and that has access to at least 10+ carriers. Let them look at your homeowners insurance as well as sometimes it is better to bundle, sometimes not. As someone else mentioned, due to driving it low miles and the fact that it can be considered a collector car. Hagerty is another carrier that may consider this vehicle and if you can get in their program it should be much less premium cost than your current quote. Their website states "Limited use, newer vehicles that are collectible in nature and have low production numbers may be considered for our program. Examples are sports cars and special edition models."

Chubb also offers a collector car program. However, I think all of these carriers have strict guidelines and if you have any young operators in the house or anyone in household with bad driving records, it will be hard to get accepted.

Most of the collector/classic car programs you can quote yourself online, but I do highly suggest you find a local broker who has access to all of these carriers as they will have a better chance of getting you in the program than you do on your own.

Good luck!

I'm in CA and don't use a broker....been with State Farm forever. maybe it's time for me to shop around. is this up your alley?

 

[Steeeliskt]

I'm in CA and don't use a broker....been with State Farm forever. maybe it's time for me to shop around. is this up your alley?

Very much so and I can typically beat State Farm depending on your exposures. If interested, send me a PM. I actually specialize in business insurance, but did start with personal lines so I can handle just about everything except health and life insurance (requires a separate license).

 

[1LEThumper]

http://ncminsurance.com/tag/corvette-museum-insurance/

Talk to Adam Boca and tell him Anthony sent you.

I plan on using them on my GT350 when it arrives unless they are just out of this world but mine is not going to be a daily either.

 

[nastang87xx]

Like others said, just try a different company. I currently pay only about 480 or so for 6 months on my current car. Other companies wanted nearly $1200. For a Mustang GT...

 

[MastrHU]

I just don't see the rates changing much between the larger companies like Geico, Allstate, etc... I did get a quote from Progressive which was on par with USAA. I might look into one of the collector's car insurance companies. I've read that most of those companies put strict limits on mileage. I don't want to limit my driving experience to the extent of having a full time garage queen. I honestly don't see the standard GT350 as a collectors car, so I plan to drive between 4k - 6k miles a year.

 

[Steeeliskt]

I just don't see the rates changing much between the larger companies like Geico, Allstate, etc... I did get a quote from Progressive which was on par with USAA. I might look into one of the collector's car insurance companies. I've read that most of those companies put strict limits on mileage. I don't want to limit my driving experience to the extent of having a full time garage queen. I honestly don't see the standard GT350 as a collectors car, so I plan to drive between 4k - 6k miles a year.

Well that is a problem. Like I mentioned before, call a broker, give them all of your information (one time) and then they can shop it around for you. 4k-6k miles a year is still very low. Again, speaking to a broker explain what you are looking to do, and they do all of the leg work for you. Rates can vary vastly. Example: When I was 18 and had a 2003 Mach 1 and a shitty driving record, 21st Century wanted around $17,000 every 6 months to insure me. Some carriers purposely price themselves too high because they don't want the business or have been burned on a specific age/sex/vehicle/coverage limit, etc. There are over 300 variables that go into the insurance rating algorithms and it is very complicated. It sounds like you aren't too concerned with finding a better price.

Progressive is actually one of the companies I represent, the only time I EVER quote them, is if the insured has a terrible driving record because Progressive will insure just about anyone -- just will cost you a ton in premium. Progressive is seriously not a good company to go to if you are looking for low rates and you have a good driving record/no or minor claim history.

Back to my original point, contact a broker, they know all of these things you have no idea about and can help you figure it out. Of course there are a lot of asshole brokers out there so make sure you ask questions and if they seem shady, they probably are. I have run into a few items that I needed to call other brokers for to get insurance on, explained I was an insurance broker at the very beginning of the phone call, and they still tried to pull the sheet over my eyes.

Get copies of the quotes, full policy sample contracts, ask about exclusions, etc.

It may very well be worth it for you to pay twice the premium just so you don't have to deal with anything. If that is the case, enjoy your car and dont fret over the cost :cheers:

 

[troberts]

Now that my VIN shows up in the system, I was able to get a no kidding quote for my GT350. All I can say is wow. I expected my insurance to go up, but not to double. Just to clarify, I'm 39, have two cars (one being a 2014 BMW 335), and a clean record. I use USAA and have a $500 deductible. The GT350 is a third vehicle that will not be driven more than 4000 miles a year.

My cost is an additional $960 every six months. Prior to that, the BMW and my SUV were $880 combined. That's over $1800 every six months for insurance. Before this quote, I had a 2015 Z28 as a filler quote which cost just under $700. Better yet, my former 97 Supra w/ 600whp was a third of the cost of the GT350 (mostly due to the car's age).

So this isn't a gripe or complaint. It's a new car with 500+ HP, so the saying is, you have to pay to play. It is a warning for the younger future owners to check on your insurance rates before you pull the trigger on the purchase. Now that some car's have been built, it would be great to see some other insurance cost comparisons.

I live in Louisville ky. Im with Ky farm bureau.. they hit me at 845 every 6 months but says he is trying to move some of my other cars numbers around to try and get cheaper

 

[Xonicwave]

I was with USAA for almost 20 years. I have two cars (09 Benz SL550 and 67 Mustang Fastback) and never had a problem with them. Until two years ago, my insurance went up over 20% for no reason or fault of mine and I have a clean driving record. I felt guilty shopping around, but found a company that was MUCH lower (we're talking 30% cheaper) than USAA. Of course, I switched and haven't looked back. I'm paying a little over $150/month for both cars. BTW...I'm 43 with a clean as a whistle driving record.

I sent over my VIN to my agent and am waiting the news on exactly how much mine is going to go up with my new GT350. It'll be my third card and probably won't put over 2k/year in mileage on it. I'll let ya know what I find out...fingers crossed it isn't too terribly bad.

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