Our daughter has a 92 LX hatch 306 grey interior, five speed.emerald green. New paint it saleen clone . Whole car was just redone. Lights weather strips, trim clutch, quadrant , all the normal aftermarket stuff. Comp cam with the kit headers. Off road h pipe , hurts shifter. Brand new tires on and on. Well she has about 5 grand in the car and want to find full coverage inusurance that will cover that. She is only 20 we are trying to help her out. Thanks

 

Raymond, whats up bud... I can help you somewhat here. Pretty much no one will cover, or I should say none of the big three in Florida will insure for more that the vehicle is worth (but my statement is gray at best, because they will cover). But, you have a few options. First thing you will do is call your insurance company get full coverage insurance of the value of the vehicle. Now, all other parts that were added on being the vehilce is considered modified not from the manufacturer, You have what you can do is called "Declared Value". Basically, you provide receipts to the insurance company. The thing is they do not provide full coverage of retail price on anything. Paint, cost you 4000.00, they only cover a percentage, wheels and tires, cost 2000.00 they only cover a percentage. Engine performance cost you 5000.00 they cover a percent. Its kinda their way of fucking the insured customers. Now, your other option is to purchase modified vehicle insurance, the greatest thing about this, is they cover 100% minus the deductible of the insurance premiuim. This is total vehicle cost and modifications to every little nut and bolt. Receipts are neccesary for most companys, some will go on the appraised value, of other modified vehicles that are being sold on the internet or based on company research. You can also research as well, to provide stability for coverage. Basically, If they say your vehicle is only worth 7000.00, if you provide autotrader, or ebay references for a similair sold vehicle that sold for 10000.00 the will go based on that. Thats all the good news.

Now for the bad news about modified vehicle insurance, they put a cap on mileage for the vehicle being driven, this varies from company to company, Some companys will not let the vehicle be driven more than 500 miles a year som will say no more then 5000 miles a year. I have not heard of any company that provides for anything more than 5000 miles per year. I could absolutely be wrong though.

So, this is what you can do, get full coverage insurance, and get ass reamed basically, and then talk to your insurance agent about having a declared value on the car and its modified parts. I am guessing you are already aware that you will be paying out the ass to cover a 20 year old driver in a high performance vehicle, even though the car is 16 years old. One word of advice, if she happens to get into an accident and they decide to total the vehilce out, and send you the accepted terms of the payout, tell the insurance company you want to take full ownership of the vehicle, Hopefully, you can do it early enough, and hope to hell that the shop that has the vehicle, hasnt stolen every possible part off of it and kept the grimey ass hands to themself and then you can recoup some of your losses with the retained parts.

There is more finer details that I am leaving out, but those are your two most realistic options.

Hope it helps any bud. By the way, I love her car. It damn sure is a beautiful car. Good Luck Raymond.

 

Thanks Ryan. She is just going with what the law requires. I have receipts for work done to the car so if she ever gets hit I will give them to her inusrance company. I had a Iroc stolen back in the day and they wanted to pay me $5,500. I told them that it was a 350 car and had new tires and other things. They ended up paying $7,800.

 

a few guys with crown vics have had their cars totaled, bought the cars back parted them out and made money on the deal. Say they paid $3000, totaled the car. insurance gives them $1500, and then can part out the car for $2000 (thats just stock parts), then they made $500

 

Pics of said Saleen replica?!

 

When i had my 1988 Saleen i had it insured with State Farm. i had to have an appraisel (sp?) done (at my expense) by someone they reccomended. it came out to a value of $23000

 

yea id get a stated value policy. thats what im going to do when it comes time.