Foundation Series upcharge and insurance coverage.

[Friday]

I have a few collector vehicles that I use an "agreed value" coverage. That gives me monetary coverage on something that essentially might have no value in a modern KBB valuation.

Since we know eventually the Foundation Series will conclude (?) and the next wave will be the standard pricing models, has any current FS CT owner have any experience on how the extra $20k would be insurance covered going forward? Is it considered a "limited edition"? Is the $20K not covered in the FS CT valuation at all? If a FS CT is totaled after the standard pricing comes out, the insurance companies are likely to ignore the FS premium?

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[mark555055c]

This is not a collector vehicle, so insurance companies will likely mostly ignore the 20k premium even if you have defined the vehicle value.

My guess is they will take into account comparable vehicles in the area, so if there are some FS units for sale in the area and are demanding a premium, it could help the value.

 

[Friday]

I wonder if some sort of add-on GAP insurance may help cover any FS valuation loss longer term.

 

[jf64k]

FWIW:

When I called to add my FS AWD, my insurance company asked if I had the "FS package".

The agent said they base the pricing on what's included from the factory (e.g. insurance will be slightly less for non-FS CT's). So my pricing was based on the sticker price.

 

[Friday]

FWIW:

When I called to add my FS AWD, my insurance company asked if I had the "FS package".

The agent said they base the pricing on what's included from the factory (e.g. insurance will be slightly less for non-FS CT's). So my pricing was based on the sticker price.

Thanks! Real world info is gold.
I did see in my research that State Farm offers what they call "Payoff Protection +" as a type of gap insurance. I have no idea how much that adds to the overall insurance bill at this time.

 

[CyberWala]

It’s just like any other car.

FS is a 80k/100k msrp car with 20k worth of options.

Just like how a BMW X7 40i starts at 83,500, but can be optioned out to over 100k

The extra options you pay (typically) don’t translate to much value in the used car market. This is one of the data points the insurance company will use to get your current car value at market price.

If the Foundation Series is actually worth the 20k premium is up to the buyer. We still don’t know what options the base 80k/100k awd/beast will have.

 

[Lasttoy]

I'm crazy 81 yr old. I'm paying off the truck. Get only enough liability to get plates. Florida insurance is so high my 2 Teslas are sooo expensive.
We have no home affordable insurance. Car is off the roof
I'll only have bare liability
Yes I'm crazy. Never caused a accident. So I'm not buying Full coverage. Yes in crazy

 

[Art138]

I'm crazy 81 yr old. I'm paying off the truck. Get only enough liability to get plates. Florida insurance is so high my 2 Teslas are sooo expensive.
We have no home affordable insurance. Car is off the roof
I'll only have bare liability
Yes I'm crazy. Never caused a accident. So I'm not buying Full coverage. Yes in crazy

When did you order? AWD or Beast? At least cover 2k deductible……panel damage/replacement will be expensive.

 

[Lasttoy]

Made $1000 last week

 

[fgaryamy]

I have a few collector vehicles that I use an "agreed value" coverage. That gives me monetary coverage on something that essentially might have no value in a modern KBB valuation.

Since we know eventually the Foundation Series will conclude (?) and the next wave will be the standard pricing models, has any current FS CT owner have any experience on how the extra $20k would be insurance covered going forward? Is it considered a "limited edition"? Is the $20K not covered in the FS CT valuation at all? If a FS CT is totaled after the standard pricing comes out, the insurance companies are likely to ignore the FS premium?

Technically it's not a premium. You're paying for an upgraded version of the truck which has real value, presumably at a discount :>)

 

[fgaryamy]

When did you order? AWD or Beast? At least cover 2k deductible……panel damage/replacement will be expensive.

I think he's smart. At the insurance rates you pay, you'll come out ahead. Buy an index stock (QQQ, SPY) with the premium savings each month and fix your own physical damage. You'll come out ahead if you're even just an average driver. If you ever need to fix the CT , sell the stock for the money. You'll really come out ahead if you never have an at-fault wreck. Just buy your liability...too many crazies out there that will sue you.

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