insurance question for 3000gt?

[Igovert500]

I was in the same situation...dying for a 3kgt since I was 15 and saw my first. Finally at 20 I reached a financial situation where I could buy one. With Full coverage on my red vr4 in new york through Progressive its around 3,900 a year, and I have a clean driving record and took defensive driving. I plan to do some shopping around in the near future. However without the turbos, I'd expect your insurance to be significantly cheaper...good luck, you'll love the car!

[AbsurdParadox]

With my 92 VR-4, and a horrible driving record (4 tickets, two accidents [accidents weren't technically my fault, but they were ruled that way, two near misses of morons and then me dodging and hitting something[), my insurance is ~$3700 a year, or $316 a month. Expensive, but worth it.

[Xx3000GTxX]

I'm 16 and I have a 91' 3000 GT SL.....I pay around $900 every six months...pretty exspensive for my age, but then again, I'm only 16, they always place insurance high for my age...

[sd3000GT]

Hey I own a 99 base model 3000GT and pay $100 dollars a month with full coverage.

[sd3000GT]

Oh ya and I am only 18, it is with wawaneesa insurance.

[dbegley]

I happened on your conversation about insuring a 3000 GT. I just sold a 97 VR4 that was all stock. It went to Las Vegas.

On insuring your car, there is a bit of a trick you should understand before you actually put insurance on your collectible car. There are two methods of buying insurance. Method 1 says your car is insured for its Actual Cash Value. With an old car, the ACV method is not always the best way. Likely to be the cheapest method.

My 97 got backed into in a parking lot. The body shop told me I was lucky that the lady hit the passenger door instead of the fender or quarter. He found a new door. He could NOT find fenders or quarter panels. So State Farm would have totaled the car and paid me what they thought it was worth. The repairs would cost more than the vehicle was worth if it had not been the door, according to her State Farm claims guy. And the accident was really pretty minor. You could still open the door. My baby looked pretty bad with a dented door though.
Method 2 is Stated Value. You get an appraisal and insure it for that value. In the case of a total loss that is what you get. Stated Value is offered by insurance companies that tend to be more experienced in insuring cars like these or they wouldn't be offering this option. I don't think State Farm even offers a Stated Value plan.

The ACV of cars like 3000 GT is difficult to establish. Most standard car insurance companies are NOT in the business of doing a good job for collectible cars like those. Time of claim they want to pay as little as they can and move on regardless of your happiness with the claim. So they pull out their blue book and say this ridiculously low value is what it is worth.

I have both my collectible cars insured through my family auto company, Auto Owners. I am older than you guys though.