Is anyone on classic car insurance for the S2000?
01-19-2015, 06:53 PM
#21
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Originally Posted by iamfob' timestamp='1421707764' post='23474072
I called Hagerty, for classic class insurance coverage, you have to drive less than 5000 km a year and you can't drive your car daily to work/school, etc. A lot of restrictions to qualify. The newest year they will insure is 2000 so if you have a 2000 AP1 and drive less than 5000 km a year, maybe you can qualify.
Another thing is how badly normal insurance companies value cars. They base it off blue book, and probably says my car is worth 8k or so. Completely not reflecting current values. With our cars being more rare by the year and values going up in some case, I wanted to get the car appraised and insured with a company that specializes in classic or rarer cars.
01-19-2015, 09:00 PM
#22
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I'm definitely not an expert on how insurance companies determine values, but when I bought my last few cars, my agent mentioned how they felt I payed a lot for my cars. I bought at an average market price (or lower) and they acted like I payed twice what I should have. I was like "Do you know what these go for right now?" and she was saying like $10k-ish for an AP1. Led me to believe it was based of blue book+ a bit for market value, but not actual market value, especially since prices for our cars can vary a lot depending on condition. Maybe my company is just crap.
Of course, I could be completely wrong. I felt she was under valuing the car for sure though.
Of course, I could be completely wrong. I felt she was under valuing the car for sure though.
01-20-2015, 02:30 AM
#23
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I'm definitely not an expert on how insurance companies determine values, but when I bought my last few cars, my agent mentioned how they felt I payed a lot for my cars. I bought at an average market price (or lower) and they acted like I payed twice what I should have. I was like "Do you know what these go for right now?" and she was saying like $10k-ish for an AP1. Led me to believe it was based of blue book+ a bit for market value, but not actual market value, especially since prices for our cars can vary a lot depending on condition. Maybe my company is just crap.
Of course, I could be completely wrong. I felt she was under valuing the car for sure though.
Of course, I could be completely wrong. I felt she was under valuing the car for sure though.
I had to fight for value.... they were saying $18000, with all my mods. But i ended up with a value of $23000 when I explained the value of my volks and supercharger.
and with haggerty its a US based company and they will look all over the states for value. unfortunately our cars don't hold value very well in the states.
01-20-2015, 04:19 AM
#24
Originally Posted by Jorden' timestamp='1421723886' post='23474339
to be honest, i never knew i had to disclose any car modifications to my insurance company. When i signed up for my current provider, they asked if i had stickers on the car? and if there where modifications above 5000.00. but other then that they never said i had to tell tehm about anything XD
01-20-2015, 06:05 AM
#25
I have a MY00 so I called my broker last year just to see, it was pretty straight forward, there was a age/ experience limit, you must have a DD, it needed to be within their year limit and there was a mileage limit. IIRC it was insanely cheap, like $230 for the year or something like that, but the mileage limit was just too much for me to worry about. My car rarely leaves it's parking garage but I'd rather just pay extra on the chance I want to use it, I think i did about 4000kms last year total so I probably would have been fine.
Hope that helps, sounds like you are the perfect candidate for the insurance.
Hope that helps, sounds like you are the perfect candidate for the insurance.
01-21-2015, 07:03 AM
#27
I'm sorry I can't recall, I thought it may have been Hagerty but I quickly looked on their site and it certainly was not them. I feel it may have been this company seeing as a "quick quote" gives me a $40 annual premium https://www.lant-ins.ca/, I'm sure calling would sort that out.
01-27-2015, 08:48 PM
#29
02-09-2015, 08:07 AM
#30
I've been calling around and thought I'd share what I've found so far:
1. HAGGERTY
-reqs 10 year driving experience
-<6K yearly driven
-will cover all S2000s including 2009 models
-$2500 mandatory deductible
-very mod friendly - it seems that they view any car WITHOUT engine mods as "stock" (i.e. - suspension, wheels exhaust, etc are okay)
-was happy to agree right up that my S2000 was worth $30K (or at least humour me)
-was quoted ~$1200-1300 for a downtown Toronto, so YMMV
2. BELAIR DIRECT
-fairly mod friendly though you need to send them pics of the products you wish to install
-off the bat, they did not say no to "performance mods" like suspension, exhaust, seats etc. (didn't ask about FI), but qualified with the point above
-pricey, but will give you peace of mind
3. PERSONAL, DESJARDINS, STATE FARM, MELOCHE MONNEX (as I've heard)
-won't cover any "performance mods", but might cover stuff like exhausts, CAI, etc. though not 100% sure. Anything beyond that is almost certainly not covered.
I've still to call up Gamble and Economical...so, to be updated.
1. HAGGERTY
-reqs 10 year driving experience
-<6K yearly driven
-will cover all S2000s including 2009 models
-$2500 mandatory deductible
-very mod friendly - it seems that they view any car WITHOUT engine mods as "stock" (i.e. - suspension, wheels exhaust, etc are okay)
-was happy to agree right up that my S2000 was worth $30K (or at least humour me)
-was quoted ~$1200-1300 for a downtown Toronto, so YMMV
2. BELAIR DIRECT
-fairly mod friendly though you need to send them pics of the products you wish to install
-off the bat, they did not say no to "performance mods" like suspension, exhaust, seats etc. (didn't ask about FI), but qualified with the point above
-pricey, but will give you peace of mind
3. PERSONAL, DESJARDINS, STATE FARM, MELOCHE MONNEX (as I've heard)
-won't cover any "performance mods", but might cover stuff like exhausts, CAI, etc. though not 100% sure. Anything beyond that is almost certainly not covered.
I've still to call up Gamble and Economical...so, to be updated.