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Discussion Starter #1
I'm getting ready to buy a used 2000 Saleen Supercharged Speedster 281. I'm curious if the normal insurance companies insure these vehicles....and are they a lot more to insure than a GT? I have Progressive right now, and have been happy with them, don't really want to change insurance companies - but don't see a Saleen on their website as a car to insure - do I just tell them its a GT or is it not listed b/c its a rarity? Please help me out here, I really want to know what to do before I buy the car as I don't want to get stuck in a bind.

Feel free to email me with comments if you don't want to post
andrewsduncan (at) hotmail.com
 

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It's up to you. You can have it insured just off the VIN, which will show as a GT. If you want greater coverage, you will have to ask for it.

josh
 

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I've found a good way to get an insurance company to understand what they are dealing with on a Saleen is to draw them an analogy. The analogy I used with my insurance company was to think of insuring it the same way the would a conversion van. Like a Saleen, there's nothing in a fancy conversion van's VIN that indicates it is anything other than an ordinary van. But insurance companies write policies for those all the time. Once I said that he understood that it needed more coverage that an ordinary Mustang Cobra.

To ensure there's no question in case the car is ever stolen or something, I also provided them with copies of the bill of sale and the window sticker showing the extra equipment and features the Saleen has. As long as you've been up front with them and provided them plenty of documentation, then it would be difficult for them to weasle out of covering the car if it was ever totalled or stolen (which isn't to imply that you won't have a hard time with the other guy's insurance if someone else hits it and they are at fault. You probably will.)

On mine, they force the "symbol" they assign to it to be higher than normal, so I'm basically paying Corvette insurance rates for it. Since I'm over 30 (way over 30, LOL), and have other vehicles on the policy, it adds up to only about $400 every 6 months for full coverage.
 

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Discussion Starter #4
Thanks Eric for the input and analogy, I'll probably give Progressive a call today and explain and see what they have to say.
 

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I got what's called GAP insurance. It's similar to the GAP insurance you get on a leased vehicle. It covers the difference between what your insurance company pays and what the value of the car is, in the event of a total of course. I got it through ford since my insurance company didn't sell gap insurance. My insurance company knows what I have, but it's still registered as a GT in their computers. I had to sit down with them and catalog all of the extra pieces that came from Saleen for their records, but none of it affected my coverage.
 

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You can also get what is known as a "Set Value" policy where you and the Ins. decide what the value of your car is going to be, and pay according to that figure.
 

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Discussion Starter #7
I spoke with Progressive and they gave me a ballpark after asking for mods to vehicle and the VIN number. They are supposed to get back to me. Its not as bad as I thought it would be and they valued the car at $40k. I think that is about right....depreciation - its a 2000 Saleen Speedster Supercharged, Leather recaros, chrome 18inch rims, roll bar, speedster, etc. Brand new I think its high 40's, low 50's depending on options. They quoted about $190/mo, which is similar to a quote on a new Corvette, but a bit higher. Keep in mind, I'm a 23yo male so that doesn't help. I do have a perfect driving record though....
 
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