DeTomaso Mailing List: March 1997, Message #22
     



From: MikeLDrew@aol.com

Subject: More on Insurance

Date: Mon, 3 Mar 1997 16:24:51 -0500 (EST)



Capt Mike Drew

150 Westgate Dr.

San Francisco, CA  94127



Home/FAX:   (415) 334-7860



E-mail:  MikeLDrew@aol.com





All,



I had a heck of a time getting insurance when I first purchased my Pantera.

Picture this:  You're an insurance agent, and in strolls this 22-year old

kid.  He's a single white male, living in San Francisco.  He just purchased

his first car.  It's a Pantera.  It's his only car.  Oh, by the way, he

doesn't actually have a driver's licence yet (for cars), but intends to get

one really really soon.  He's driven an automobile a total of six times in

his life (not counting Disneyland.)



AAACK!



That was me, back in '89.  Allstate quoted me $3980 a year, Farmers wanted

$4200.  USAA wouldn't cover Panteras, although they would write me a

liability-only policy for only $300 or so.  (BTW, contrary to what somebody

wrote earlier, USAA now DOES write policies on Panteras through their

specialty vehicle division, Chris Bupp (a.k.a. WhatCop@aol.com) has his car

insured through them, although I don't think their coverage is as good as

what's available elsewhere.)  I finally found an agent that would write me a

comprehensive and collision policy to go with my USAA liability policy.  The

carrier was Lloyd's of London, believe it or not, and it cost $2000 per year,

for a stated value of only $25,000.



Not having a second car is a killer when it comes to insurance.



A few months later, I came home for Christmas and just for grins, stopped by

the Allstate booth in Sears to get an updated quote.  In three months, the

price had jumped to $6000 per year!



When the car was in restoration, I only carried fire and theft insurance,

again, with a $25K stated value, from Smith and Congden insurance back east

(one of those horseless-carriage insurers)



When I purchased my GT-350 replica, I found out through the Shelby Club of an

insurance company that specialized in writing policies for the club.  Called

Parish Insurance, they have a no-BS policy that lets you drive the car any

way you want (i.e. no restrictions on leaving it unattended or driving to

work, etc.), with the only limitation being 2500 miles per year.



I honestly don't remember how the costs break down and am too lazy to look,

but I've got full coverage on the GT-350 replica ($15K stated value), full

coverage on the Contemporary 427 Cobra ($40K stated value), and

fire-and-theft coverage on the Pantera (since it's still not driveable, $40K

stated value), with 300K in liability, using Mountain View, CA as my address,

all three for only about $1100 a year.  When the Pantera comes back on the

road (later this year???), the cost will only go up by about $200.



I've been really impressed with the Parish coverage, and the people too.

They're a family outfit out of Tennessee, and their policies are

underwritten by one of the giants, Zurich-American I think.  They're very

customer-oriented, and they support the hobby by advertising in marque

publications, and writing policies for club events (they wrote the insurance

policy for the Palm Springs vintage races, for example.)  You must be a

marque club member in order to get a policy from them.  They've got an

800-number, 800-274-1804.



If you call them, tell them I sent you, or rather, their ad in the POCA

quarterly.  They've been getting fairly good response to their ad, and that

makes them happy, but when it comes to keeping an advertiser happy, more is

better!



End of plug, end of story.