HIGH PERFORMANCE AND RESTORATION
WHY WE HAVE THE RIGHT COVERAGE FOR YOUR SPECIALTY SHOP
We work with many different insurance carriers, most of which will only pay for customer cars on Actual Cash Value (the actual value for which the property could be sold). We do not recommend this type of insurance for shops that modify and restore vehicles. There is a tremendous cost in building or restoring vehicles, we know this and know how to properly insure. We are the largest producer in the South West for carriers that pay on an Agreed Value Basis (you and the insurance carrier agree on the value of a car and that value can be more than book value). Having a policy that pays on an Agreed Value Basis is important to you because if you take a vehicle that is worth $50,000 and put another $50,000 of parts and labor, the customer now has $100,000 invested. In the event of a loss, an Agreed Value policy will pay the full $100,000 whereas an Actual Cash Value policy will only pay what the stock vehicle is worth, minus any depreciation.
Making sure your policy does not have any exclusions on the type of work you’re doing in another aspect of choosing the right policy. Insurance policies can be hundreds of pages long and more times than not you will find the exclusions somewhere near the back (how many of you look there?). The most common exclusion we see in standard policies is the one that excludes any modifications to suspension or drive-train. That means no lift/lowering kits, no air ride, no turbos or superchargers, and no custom fabrication. That s why we work with carriers that do not have these exclusions in their policies. Our agency and carriers understand your business from the ground up.
We have built our reputation on insuring your business correctly. We understand that this is your passion, your blood, sweat, and tears, and most importantly your livelihood which is why we discuss your coverage options and explain them in terms you understand.