Unlike other insurance agencies, Shift Brokers is focused on how insurance enables the lifestyles of our customers. Being a car enthusiast can cost a lot of money. There are certainly plenty of memes that help console us. So when we seek out coverage programs and offerings, we understand that part of the equation has to be making your passion more affordable – whether that’s finding lower premiums or whether that’s to help provide replacement value when things go wrong.
In this blog post we are going to dive into some of the most common ways our offerings for car enthusiasts, show cars, or those who occasional can help enable that lifestyle. We’ll explain how we see beyond just an insurance policy, we see how it enables your car more.
You’ve Modified Your Car
Solution That Enables You: Agreed Value Enthusiast Insurance Coverage Protects The Car And The Modifications
What compels us as car enthusiasts to modify our cars depends on the individual. Whether it’s performance or style, or a combination of both, modifying cars is one of the most popular way we personalize our cars. These modifications can cost thousands of dollars and most traditional insurance policies often won’t cover them at all, or if they do they may cap the value they’ll cover. In fact, some traditional insurance companies (and even collector insurance companies) will non-renew you if they know you modified your car at all.
Even if you are not at fault, you may find yourself having to explain to the other parties insurance company what modifications were in place and their value. Or, if you ask your insurance company to get involved, because modifications are typically not covered, they may decline to do so. And if the mods change your risk profile, they could even decide you aren’t a customer they want anymore. Not exactly confidence inspiring for something you love to do.
With a agreed value enthusiast insurance policy you can get permanently installed modifications covered. This can include wheels, seats, suspension kits, power adders and more. And the best part is, the value of the vehicle and the modifications are covered no matter who is at fault. So your enthusiast insurance company generally make up the value difference, even if the other insurance party refuses.
Want to learn more? Get a quote for your modified car.
You Only Drive Your Car To And From Meets
Solution That Enables You: Low Mileage Insurance Could Save You Money Without Compromising Coverage
Even if you tell your traditional insurance company your car is for pleasure use only, their underlying risk models and business is based on the idea that you will use your car regularly for commuting, errands and other typical uses. So even when they “rate it” for pleasure use, they are only taking a little bit of risk off of their models that say you’ll use it every day. In fact, so many people have abused the pleasure rating many traditional insurance companies bundle “pleasure” cars with short distance commuters. That’s not exactly going to save you money.
Enthusiast and collector coverage does the opposite. They assume you won’t use it much at all for these purposes. While many allow all kinds of typical uses, even occasional errands and commuting in some cases, they are rating up from the idea you don’t use it for these purposes. The difference in premium can be substantial, even if the difference seems minor.
So if you have a true weekend car that you really only take out for meets and other hobby activities, an enthusiast policy aimed at limited use and mileage can be a great way to save some money. Of course, most of these policies will also be agreed value and cover modifications like we discuss above. So for many enthusiasts it could mean lower premiums and better coverage.
Want to learn more? Get a quote for your weekend/meet only car.
You’ve Built A Show Only Car
Solution That Enables You: Agreed Value Coverage Means Your Show Car Is Protected
We’ve all seen the posts around social media. The pictures of a car with frantic wording about how the vehicle was stolen. There are desperate attempts to find the car, hoping to get to it before it’s parted out. The reality for many highly customized show cars, whether they are restomod, lowriders, classics, race car styled or stanced, even when you have traditional on street insurance the true replacement value of the vehicle wouldn’t be covered. And if you trailer your show car only and have no insurance, how do you protect yourself from situations like theft or fire?
If you’ve put 10s of thousands of dollars in a show, the idea that you have no recourse for things that happen is a huge gap. But it doesn’t have to be. Whether your show car is street driven or trailered only, there are insurance options available for many situations.
Want to learn more? Get a quote for show car.
You Are Taking Your Car To The Track
Solution That Enables You: Track Day Insurance Protects Your Car While On Track
If you are heading out to the track, one thing you should absolutely know is just about no on street insurance policy will cover you on a racing surface. That includes enthusiast friendly insurance companies like collector car insurance. Even a Hagerty street insurance policy won’t cover you at the track. In fact, in just about every instance it is a separate policy.
Just because your car insurance won’t cover you doesn’t mean you can’t get coverage. Enter track day insurance. Designed specifically to cover your vehicle from collision damage during an HPDE or track day. These policies can be purchased by the day, coverage for a multi-day event or even annually. There are also options to cover time trial events.
Want to learn more? Get a quote for Track Day Insurance
You’ve Purchased A JDM Or Imported Car
Solution That Enables You: Insurance From An Enthusiast Company That Not Only Will Cover You, But Actively Seeks JDM, RHD or Imported Cars
Many traditional insurance companies (and even collector companies) will not insure an imported car or a car without a traditional VIN. This can include JDM imports or kit style cars like Exocets and Ariel Atoms. Many traditional insurance companies will outright refuse. And the few that will generally will treat them as their US domestic market equivalents. Yep, that means that Mitsubishi EVO 3 is probably considered a Mirage.
So even if you can find a company to cover your vehicle, I’m sure you are already imaging what it would take to explain the vehicle to the adjuster, much less get the proper value for the vehicle. Don’t take our word for it, call your insurance company and ask them what the current value, known as Actual Cash Value, is. The reality is valuing a JDM or kit style car is just as much a part of the challenge as getting it insured.
With an agreed value enthusiast policy for your JDM, you’ll not only find a company that understands what the vehicle is, they’ll protect it and value it properly. And not just the intrinsic value, but the true replacement value.
Want to learn more? Get a quote for your JDM or other imported vehicle, or learn more about coverage options for kit and other specialty vehicles.
