Agreed value insurance for an NA Miata?

I'm rapidly getting past the point where the bits bolted to the Miata are worth more than the car itself and it's also getting past the point where I'm happy to eat the additional cost.

It looks like I'd need some sort of agreed value insurance for the car that will also cover the aftermarket parts. IIRC my current insurer isn't too keen on insuring modifications on a car at all, so I guess the question is - any recommendations for an insurer that is willing to insure a modified car and insure the modifications?

Obviously I don't expect coverage if I stuff it on the track, but I'd like to have coverage in case someone decides the car would look better in their driveway than in mine.

Isn't Hagerty the insurance company that does this stuff?

if it's not your daily driver, I think hagerty will insure it. SOmeone on here posted that they had an issue getting there NA insured, but i can't remember if it was because the miata wasn't old enough, or there daily driver was too old.

Hagerty said no thanks when I asked about a stock NB Miata.

Marty

I know a guy who has a modified NA Miata insured with a company whose name rhymes with "Zagerty." Note that they're probably going to want to see the car garaged and not used for daily use.

not probably … for sure … the garage thing is a deal breaker … no garage … no ins

David S. Wallens wrote: I know a guy who has a modified NA Miata insured with a company whose name rhymes with "Zagerty." Note that they're probably going to want to see the car garaged and not used for daily use.

I asked a company, which, incidentally, also rhymed with "Zagerty" about my 94 M Edition. There were on the fence about whether they would insure it. I could only honestly say the value as it sits is probably about 5k, maybe slightly less. As far as driving goes, I was honest with them. Not really a daily, but most nice days during the summer I drive it to work. (Note: I live in Michigan, so that's about 60-80 per year) That pushed it into the "not the type of vehicle we're looking for" category. The person I talked to gave me the impression it was sort of a "sliding scale" of use, value, age and storage.

"Zargety" wouldn't ensure my modded and very limited street use '90 E30 saying it isn't a classic or rare.I now also have a modded '90 Miata in the fleet that the wife wants to drive next summer very occasionally(it'll be trailered to events). I have nice heated garage,multiple vehicles insured,no claims in 29 yrs of driving and yet no coverage for the specialty use.I'd love to hear of a better option than the standard pay thru the nose($900 for the e30) and get nothing in return usual insurance policy.

I have agreed value with State Farm, but it only allows for 1000miles per year

how the dickens did you get that ? my SF agent says they don't offer that type of ins …

'course I drive mine to and from events (no DD) so about 5000 mi per yr

but neither can I get HPD (honda performance development) to allow me to register with them … since my car does see some street use

kevlarcorolla wrote: "Zargety" wouldn't ensure my modded and very limited street use '90 E30 saying it isn't a classic or rare.

Strange... They insured my '88 E30 with pretty much no questions asked. Light mods, looked pretty much stock. I wonder if having a previous account with them had anything to do with it... Up until a few months ago, I had 3 cars insured with them, although I only have garage room for two.

I was also under the impression "Zagerty" wouldn't insure a car with a roll bar?

Ian F wrote:

kevlarcorolla wrote: "Zargety" wouldn't ensure my modded and very limited street use '90 E30 saying it isn't a classic or rare.

Strange... They insured my '88 E30 with pretty much no questions asked. Light mods, looked pretty much stock. I wonder if having a previous account with them had anything to do with it... Up until a few months ago, I had 3 cars insured with them, although I only have garage room for two.

Yeah I was shocked after filling out the online information sheet and paying the $300+ for $10000 coverage to have a rep call and tell me it was declined.All I want is coverage for what its worth,insurance agent I deal with tells me the payout for the car will be $1500 max.They are fine taking $900 a season from me though,I barely put 2000 kms a summer on it. I assume the miata will be the same being the same age and sold in larger numbers,I see older miatas all the time but might see 1 or 2 E30's all yr up here and thats being generous.

$900 a yr …. WOW…. do you have full coverage ?

my 3 cars only cost me $1000 per yr, 1 with full coverage, the other 2 with liability and comprehensive (for windshields)

I don't know... might have something to do with being in Canada? I was paying a whopping $290/yr for agreed value coverage on the E30 ($5K value), my '72 GT6 ($7K) and '64 Mini ($10K). When I dropped the E30 a few months ago, I got a credit.

When I called about insuring the E30 (I always call - never use online forms if I can avoid it - I historically get better service calling), the ex-g/f and I still had a '07 MINI convertible that we basically used like a classic car. I joked with the agent about having them insure it. She said she couldn't in PA, but it might be possible in NJ (the car was registered in her name in NJ; especially since the g/f already has cars insured with them). So it seems what they can, will and won't do can vary greatly depending on where you are.

Hmm, my car has a roll bar, and they've seen lots of pictures of it, so that's not a deal breaker.

i called three times and talked to three different people and got three different answers on the fiat.

They offered to cover my dads 04 s2000

Call a broker. They work with a range of insurance companies, including ones you've never heard of. They'll take a 5% commission and save you 25%. My current insurance company doesn't have a talking gecko as a spokesman or a fake university, but I get much better rates.

Licensed KS insurance agent here, hagerty will write some racecars, whether or not they'll go for a miata, I dunno. I would call a local agent, or hagerty direct to ask your questions. Of course once it turns a wheel on track there is no coverage. But at home, in the paddock, in the trailer, you're covered. There are specialty insurers that will insure racecars while on track too, I remember one even advertises in GRM, but I'd image they are 'spensive.

Keith Tanner wrote: Call a broker. They work with a range of insurance companies, including ones you've never heard of. They'll take a 5% commission and save you 25%. My current insurance company doesn't have a talking gecko as a spokesman or a fake university, but I get much better rates.

This.

There are quite a few companies that don't write direct to consumers that offer this coverage. AIG, Fireman's Fund, Chubb, etc. These tend to be more expensive, but depending on the broker, and who they can write it with, they can probably get you some decently competitive quotes.

carknut wrote: Licensed KS insurance agent here, hagerty will write some racecars, whether or not they'll go for a miata, I dunno. I would call a local agent, or hagerty direct to ask your questions. Of course once it turns a wheel on track there is no coverage. But at home, in the paddock, in the trailer, you're covered. There are specialty insurers that will insure racecars while on track too, I remember one even advertises in GRM, but I'd image they are 'spensive.

I know there is a company (agent in KS, maybe it was you I talked to years ago?), that will write coverage for HPDE/TT style events and the coverage was very reasonable.