Never thought about collectibles insurance. I recently quoted my insurance for replacing the cobra with a gt500. It wasn't a heart stopper but wasn't what I was hoping for. We are talking about a much more expensive car they would be covering though.Lots of good points above. Buying a modded car (GT500 or other) is a winning proposition on the financial side (if you know you're going to mod anyway) especially if you can get info on the history of the vehicle & develop a good relationship with the seller.
Here is a practical consideration...you might have an insurance premium price advantage with a GT500. In my comparison shopping I'm saving a lot of money buying a collector car policy vs a regular auto policy. I don't know if a company like Grundy or Haggerty will insure a regular late model GT as a collector car...maybe so... Just something to consider.
That said...I have seen some killer deals on some clean, blown late model coyotes with full suspension, built rears, etc. It seems like people can't give them away....lots of beef for about 10k less than a GT500. I admit that I was tempted.
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