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2005-2009 Saleen Mustang For all S281, S302, H281 and H302 models based on the Ford S-197 Mustang platform, with the exception of the S302 PJ (see below). Be sure to specify year, model and equipment if asking for help. |
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#1
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Insurance for my Saleen
I've had the car insured with Geico since I've owned it the past 8 months. They wanted to inspect the car because of the purchase price and now they are saying that the Saleen package makes the car a restricted vehicle for them and they can no longer insure it. Anybody had this problem ? How do I get around it ? And if I can't , who do you insure your Saleen with ? Thanks for any help.
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#2
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Give Grundy Insurance a try. A friend has his 348, 930Turbo and Austin all on Geico, I am surprised they will not cover it.
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Greg Wackett |
#3
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Classic Car Insurance... possible option
Try going to a classic car insurance company... if it is not a daily driver... it might be your best bet. Give AIS a call and they might refer you or look around at car shows... there are some classic car insurers.
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Robert B. So.Cal REDFIRE 2005 #880 |
#4
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State Farm
I have my SC281 insured with State Farm. They never asked to inspect the car. My insurance runs about $1000 a year living in Laguna Niquel with no tickets or accidents in past 3 years.
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#5
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I have an agreed value policy with Heacock Classic - but there are severe restrictions on use (3k miles per year, no driving to work, etc). I have never made a claim, so can't really comment there. Rates are fantastic, but I wouldn't reccomend it for a driver car.
Chris. |
#6
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Mine is insured thru AIG which is not 21st Century, runs about $900 for full coverage a year, and even thou it's a Saleen they use the GT info to base them by, to many folks out there ready to offer you better deal, time to tell them to take a hike
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#7
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Quote:
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#8
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I discussed this at great length with USAA. USAA states that according to my policy it is a full replacement policy. So whatever it costs to replace the car. They did ask me if the car is modified and I said yes. I also made them put in the remarks section of my policy that it is a Saleen. I have been ensured that I am fully covered. Germany requires me to have $1 Million Euro coverage on all my vehicles (that's almost $2 Million dollars) It comes out to almost $1400 a year just for the Saleen. Hopefully we will never have to find out how good USAA is...
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Mike Wigton #06-409 MMR 1000S 302 Stroker, BBR Stage 2 cams 3.0 pulley 39# injectors, upgraded CAI, 20" Chrome w/275/35ZR's, 14 in Front Brakes, GT500 Heat Exchanger and Walbro Super Car dual fuel pumps, Rear bumper inlays, Shaftmaster 3.5 Alum Driveshaft, AEM Wideband A/F guage, Pypes Long tube headers X-pipe w/o Cats, Extreme chin spoiler, Steeda Tri-Ax short throw shifter, Hood Struts WMS stealth hood pins, Adj upper and lower rear control arms. tuned by Lito. |
#9
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Saleen Insurance
If Your Vehicle Is Unsured For Just A Mustang Gt Most Likely Your Not Covered. If You Call Hagerty Ins Or Grundy Ins They Will Cover You. You Will Need A Appraisel Hagerty Cost Me 800.00 A Year If Your Policy SayS Mustang Gt Thats What Your Paying For
Last edited by 04 2281sc; 03-12-2009 at 08:25 AM. |
#10
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One word of caution.
Make sure that there is a clause in the policy that states the replacement parts will be OEM. If not, you will get whatever the adjuster can find; re-manufactured, etc. Of course if it is a Saleen part that is damaged, they have no choice but to replace it with OEM. 'Coot
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2008 302 Heritage 08-0029 |
#11
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Quote:
Same thing they told me for my s281, State Farm has good rates |
#12
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Hagerty or Grundy will not work for me because at times I do drive the car to work or to run errands. The car rarely gets driven so mileage is not a problem . I have a 2006 and only have 5600 miles on it. I just don't want restriction as to where and when I can drive my car. I have talked to 3 different underwriters at Geico and they have all said the car is the problem because of the modifications. Im probably going with Liberty Mutual because they actually have a class for the Saleen and will insure it exactly and not as a GT.
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#13
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i have hagerty and i am able to drive anywhere at any time i believe
3000 miles is max for me i have a friend at liberty mutual they can not insure a saleen even after he told me that i still called and another agent told me no good luck not easy finding insurance the agent i called was foy ins in salem nh the owner drives a saleen |
#14
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With Grundy I have no limits on miles, it might be a state thing.
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Greg Wackett |
#15
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As Long As We Can Drive Them And Enjoy Them. Good Luck With The Car
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#16
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My coverage is through Mid-Century/Farmers and is listed as a GT. However, I also purchased gap coverage from the get-go to... well, cover the gap. The overall cost is still reasonable with gap being only $11/mo extra.
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#17
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Allstate ran my VIN and it came up as a mustang gt... no questions were asked... and I have gap insurence :)
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#18
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Quote:
After a claim for my '98 S281, which luckily Mercury Insurance paid without too much hassle, they added "Saleen Package" to the contract. Didn't cost me any more, and gave me peace of mind for the future... Chris. |
#19
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I'm also with State Farm and they do insure as a Mustang GT and not a Saleen. This helps with rates, but won't help if there's ever a need to file a claim. I also got the gap insurance with my Ford Credit loan to cover the difference if there's ever a total loss. The thing to keep in mind with this is that as your loan amount decreases your gap insurance will be less and less valuable. As your loan gets closer to zero their is less gap for the "gap" insurance to fill, but you're still going to wish you could get more value out of your primary insurance plan. That may be the time you want to start looking for another plan where you get coverage as a Saleen and the according valuation that goes with.
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#20
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Very good points jaiasmit and ctann. Thanks for the addtl. insight/experiences.
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