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Luke,

I was talking with an individual in the replica car business and he told me something maybe you could comment on.

He said a number of insurance companies that until not long ago wrote policies for replica cars and kitcars no longer do so mainly because of a recent rash of Cobra crashes with very big ticket claims. He added for that reason some of the insurance carriers that are still writing policies for replica's will do so only if the car is built on an OEM chassis, i.e., if true tube chassis cars will be harder to insure and more expensive. He added in some states unless you are trying to insure a hotrod cruiser built on a tube frame good luck on getting insurance on anything else.

Don't shoot the messenger, just passing along what I was told. Perhaps you would would like to address this question.
Erik,
Some time back there was an article in Kit Car Magazine regarding insurance companies insuring classic and custom built cars. Hagerty was mentioned among them (they insure my Speedster) and the article stated that they would no longer insure Cobras for the reason you mentioned. It seems that these high performance cars had been finding their way into the hands of owners who are not able to control them given the performance levels that they are capable of and with sometimes disasterous (read expensive) results.

The information you provided seems to go beyond what the article stated. Would you be willing to share your sources with us?
Thanks.
John H.
John,

He posts here. Hate sounding coy but it would be best if he clarifies.

I got the impression the performance segment is targeted. I insure with Hagerty. With as reasonable as their rates are it would take a long time for them to recoupe their losses on a Cobra with a pea brain owner that results in the loss of life.

I am sure some carriers would be willing to insure high risk cars, but the owners will pay through their teeth. I doubt this would affect Speedsters made with tube frames per se as no insurer thinks of Cobra's and Speedsters as the same animal. Nevertheless, what I was told if a car doesn't have a VIN number on its chassis someday it may be harder to get insurance, especially in certain states.
Erik,
Message understood. Thanks. Speedsters seem to be pretty OK as they are not perceived, IMHO, as fire breathing monsters. Now if somebody were to drop in a 2.8 liter screamer like the one in the 525hp supercharged oval in the current issue of VW Trends and do something nasty, perhaps the view from the insurers' perspective could be changed. Bad insurance experience is just that and it ultimately costs the consumer big time. So, bros, let's be careful out there. Darn it, I didn't mean to preach, really!
In 1989 my insurance company stopped writing policies on vintage Ferraris (I had a pristine low milage 1967 330GT) due to fraud. Prices were up and some owners who had bought low insured high and then had a total loss due to fire. That was OK with me as I'd had the car for quite some time and was selling it, anyway.

Most states have options to insurance companies for liability coverage only so when using that option you take the damage/loss risk yourself.
George,

Reminds me of a guy I worked with that loved collector cars. He had a really nice XKE ragtop and claimed it was stolen from a shopping center. Well, after a search the insurance company paid off. This fellow got married, built a large house and told his wife the scam, how he had buddies steal the car and then secret it away. He and his wife had a fight and she not only busted out all the windows of the new house, she told the cops about the scam. Well, he just missed going to the slammer only when he repaid the insurance company in full, plus interest. The wife, house, and other stuff is gone but last time I saw him he was driving a nice Ferrari 308! I bet his insurance premiums are in the ouch range, Bruce, P.S. don't know if he kept the Jag!
Three-time loser: first mistake = fraud, second mistake = big mouth, third mistake = "Ferrari" 308 (Fiat V8). I'm surprised any insurance company would write him a policy if he admitted to fraud, even if he had repaid the original defrauded company.

After the 206 and 308 cars were introduced (Fiat engines) Enzo Ferrari answered a motoring press writer's question by saying, "Ferraris are twelve cylinder cars."
Insurance companies are not different then people, when the rumors of a car start flying people listen. Recently the president of the Des Moines Cobra club was killed in his car while doing something Insurance companies don't tolerate very well....street racing. BTW Des Moines, Iowa has more Insurance Companies Headquartered here then almost anywhere in the world. It would not surprise me if Cobra cars soon become very difficult to insure...
Chris, not to belabor the point, but if you want an interesting Ferrari buy one with a Colombo based V12; a 275 GT or GTS, or a 330 GTC or GTS. Easy to work on, stone reliable, and a piece of history instead of a boulevard cruiser for fat old men with gold neck chains and hair transplants.
I have yet to own my first Ferrari so I have little room to argue the point, although I vow to myself that I will own a second or third-hand car prior to my 30th birthday. In any case, there are some precedents that I believe in regarding Ferraris; they should never ever have 4 seats! Ones first Ferrari should always be red. A nice looking woman is an essential in the passenger seat.
That said I would gladly take a Dino, 308, 328, 348, 355 or 360. Each of these cars is pure and simple a Ferrari, and unfortunately they are priced significantly higher then the stepchild four seat cars. I do however respect the fact that every one is entitled to their own opinions and I guess mine is reflective of a different generation as for the gold chains and hair weaves that has to be a suburb thing.
Chris, the 206 and 226 were very pretty little cars but were born rusting to death and weak kneed in the performance department. The original 308's lacked enough power to pull a fat kid off of a tricycle, though the later 308 QV's were an improvement.

The 328 is the best of that lot (engine, and also improved creature comforts via better ventilation, defrost, etc.), and also the last to have a separate frame (348 et. al. are "unit chassis" cars).

Almost all of the pre-Fiat ownership Ferrari GT production cars were not Italian racing red (the Ferrari red cliche); they were white, black, blue, maroon, dark green, silver, etc. They also had odd numberd VIN's - Enzo was superstitious and even VIN's were only used for race cars. So a 1968 GT car with a VIN of 10001 was actually the 5000th Ferrari GT car produced.
Hey Rick,
I am working on it, I decided to go and finish up my MBA and in addition to that I have been working harder then ever so, I have yet to fix the windshield that cracked just a few days after I got the car back form the paint shop. I did not take any digital pictures of the car for that reason. Now that you asked I will try and shoot some this weekend.

A.) I hope you put some miles on your Speedster!
B.) I hope you put some hours on your boat!- Personally I have about three so far this summer!

Carpe Diem!



Chris, my SpeedsterBro...
I was giving you a hard time buddy. Finish your eddukkation. Dat's wear its at (you can see, I didn't finish mine )o:)
I was able to escape my duties as a new Dad (house & all that new non- Speedstercrap I just got myself into...) & really enjoyed the Wine Country tour. It was really awesome! The only other time I took the Speedster out was through the same Napa windy roads to the lake where I "Scarab".
On the H2o front, I was only able to take her out once as well this season, beating your 3 Hrs (o: (not by much...:o(
At least I enjoy cracking a couple of beers open when Medicine Man (Paul) comes over, as we amuse ourselves counting the cobwebs on the Speedster & Scarab, parked almost side by side in my garage.....~R
It's hard to come up with a figure this early, but I'd say we hope for it to be an option for under $1000... time will tell
As for the Club Racer, it has a short plexi windshield, custom fender mounted mirrors, a half plexi tonneau, helmet fairing (that can be converted into air induction for the REALLY big engines), and a few other small details... Just a little different style
I am tossing around the idea of going bumper-less... I love the look. I think I might take some pics w/ the bumpers on and then take mine off. Offer it either way.
Original plan was to use Chuck's 911-4 901 trans etc, but I got the typical "Chuck response" the other day... Some of you may be familiar with the response... it goes something like this... "Why the F@#K would you wanna do that!?" Can't build one on my own at the moment, or at least that's what my wife and wallet keep telling me!
So, Pat is building a wild 2165, and Sam has suggested a pretty beefy transaxle. I'm shooting for 180-200 Hp, until the pocket book (and the wife)stops crying...
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