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Thread: Any new insights: Insurance

  1. #1
    Junior Member
    Join Date
    May 2005
    Posts
    5

    Any new insights: Insurance

    The last thread was in Feb 2005 on this subject. Does anyone have any new insight into the best way to go about insuring a F355 replica?

    I am buying a car- I didnt build it. It was bought from someone who bought it from someone.... hence the cost of the build is unknown.

    I think it will be hard for me to get a value policy without this info.

    If I do a standard insure of a 86 Fiero and I get into an accident, what happens? Will the insurance company freak out that technically I "lied" to them about the car and possibly pull coverage on my other cars etc...

    bdo

  2. #2

    Re: Any new insights: Insurance

    The first thing you have to understand is that if you register it as a 86 Fiero and the car gets totaled, the insurance company is only going to pay out the cost to replace an 86 Fiero. If you get more than $3,000, consider yourself lucky. This is fair after all, because you are the one who supplied false information to them. What you want to do is to get the car appraised. Once you have "proof" of the value of the car, now you can start calling insurance companies. Start with your current insurance and ask them if they will cover you for a set price. Of course they will charge you more than an 86 Fiero. The other avenue, is to go get collector/show car insurance. I had my kit insured by Barlow (Los Angles, CA) and they were great and cheaper than my insurance company, but they do have some limitations.

  3. #3
    Senior Member
    Join Date
    Jan 2002
    Posts
    181

    Re: Any new insights: Insurance

    The answer to your question depends a lot on where you live. In many places you cannot register the Diablo as a Fiero but only as a shop built Diablo (purely for police reasons). I have an insurance agent friend who has no problem at all insuring a kit car, I pay $1200 CDN, unlimited mileage but with a $5000 deductable based on a value of $99,000 (In Calgary)

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