I will take delivery of my 06 restomod Escalade in a few weeks and I'm still looking for insurance without much success. The insurance companies I've contacted so far will insure it as a daily driver for market value, which won't cover replacement cost. Or, they will insure it for replacement cost as a classic/modified/collector car, but it cannot be a daily driver. Does anyone know of an Insurance company that will insure a modified car that is a daily driver for actual replacement cost rather than market value? Thanks.
Still looking for car insurance
- Thread starter m1949
- Start date
Disclaimer: Links on this page pointing to Amazon, eBay and other sites may include affiliate code. If you click them and make a purchase, we may earn a small commission.
MassHoe04
Full Access Member
Maybe Grundy Insurance?
06 probably qualifies as a "classic". Not sure if they do daily drivers or just collectibles that have limitations on mileage or how much they are used...
I do know that for what they DO insure, they work with the owner to agree on actual replacement value.
Worth a phone call. The worst the can do is say no.
If they do insure something like your 06 Resto-mod, maybe Grundy could sponsor the forum and drum up even more business now that our vehicles are entering classic vehicle status.
06 probably qualifies as a "classic". Not sure if they do daily drivers or just collectibles that have limitations on mileage or how much they are used...
I do know that for what they DO insure, they work with the owner to agree on actual replacement value.
Worth a phone call. The worst the can do is say no.
If they do insure something like your 06 Resto-mod, maybe Grundy could sponsor the forum and drum up even more business now that our vehicles are entering classic vehicle status.
I checked Grundy. They rejected my application, stating they won't quote just one car.
Well, I found a company who will quote insurance for replacement value and as a daily driver for a modified 06 Escalade. It is American Classics Insurance. For the purpose of applying for insurance I set replacement value at $30K and 20k miles/yr of driving. They came back with a premium estimate that is in-line with value-to-premium rate we are now paying for a 2015 Lexus RX350. Of course, their quote is subject to underwriters review, so it will be a week or so before I know if they will insure it; and if so, what supporting documentation they require to approve a $30K replacement cost.
MassHoe04
Full Access Member
So, if I had a $1 Million Ferrari... A hard NO from Grundy?! But if I also throw in a $200 rusted-out AMC Matador (not downing anyone who owns one) for the two-fer, then they'll talk to me?
That's insane!
Just got a call back from American Classic Insurance. They DO NOT insure daily drivers. Back to the drawing board.
yup. I think its their way of getting around insuring classics and restomods people actually drive. It is insane. I can't be the only person who wants to actually DRIVE his restomodded car!
gooffeyguy
Tom
You try Haggerty?
Yes. Their website won't give me a quote. It simply states "Rejected." I'm guessing its because the year/make/model doesn't fit their criteria for a collectable/classic/modified car.
S33k3r
Full Access Member
You might try a standard policy for a daily driver, and then add an additional policy based on x, y, z... That might solve your problem
