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  choosing classic car insurance, who do you have?

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Author Topic:   choosing classic car insurance, who do you have?
sigtauenus
Gearhead

Posts: 1916
From: Beaufort, SC
Registered: Jun 2000

posted 09-24-2001 02:40 PM     Click Here to See the Profile for sigtauenus   Click Here to Email sigtauenus     Edit/Delete Message   Reply w/Quote
I've been gambling with my car for a long time now and am getting ready to choose a new insurance company. GEICO and USAA, two companies that work with the military and who have insured the mustang, both do appraisals after the fact that in most cases will not accurately reflect my investment should the car be totaled or stolen. I am pretty confident an accident less than total will result in the money to rebuild the car, but I'm pretty concerned about a total accident or if my car gets stolen.

I've talked to some classic car insurance companies that let me state the value of the car and heard some things like a 2500 mi/yr restriction, I can't drive it to work, can't take it to the mall, it must be kept in a locked garage at all times, etc, but I'm not ready to give up driving the car to that extent.

Does anybody have insurance with somebody that lets you set the value of the car (in case of a total or if its stolen) yet still lets you drive the car regularly (ie, to work 2-5 days a week) for a decent premium?

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Mpcoluv
Gearhead

Posts: 1144
From: Charlotte NC usa
Registered: Apr 2001

posted 09-24-2001 05:40 PM     Click Here to See the Profile for Mpcoluv   Click Here to Email Mpcoluv     Edit/Delete Message   Reply w/Quote
I use Hagerty Classic.
Super cheap. I have never made a claim though.

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Bob429
Gearhead

Posts: 300
From: Watervliet,MI,USA
Registered: Jun 99

posted 09-24-2001 06:21 PM     Click Here to See the Profile for Bob429   Click Here to Email Bob429     Edit/Delete Message   Reply w/Quote
I also use Hagerty. Never made a claim either. Unlimited miles no deductable.There are some requirements in my policy: Must be kept locked in a garage when not in use.

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Bob
Member#39
71 J code
429 SCJ-R Sportsroof
C6 4:11

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Ken
Gearhead

Posts: 4350
From: Prospect, Ct. M&M Member No. 31 MCA Member 49299
Registered: Jun 99

posted 09-24-2001 06:48 PM     Click Here to See the Profile for Ken   Click Here to Email Ken     Edit/Delete Message   Reply w/Quote
Hagerty here too !!!

------------------
Conciousness - that annoying time between naps.

Ken
1965 Springtime Yellow Coupe
302GT40-4spd
Edlebrock RPM Air Gap
670cfm Holley Street Avenger
and much, much MORE !!!
www.mustangsandmore.com/ubb/Kens.html

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mellowyellow
Gearhead

Posts: 5919
From: So. Fl.
Registered: Aug 2000

posted 09-24-2001 07:34 PM     Click Here to See the Profile for mellowyellow     Edit/Delete Message   Reply w/Quote
I pay up the ying for ins. bcause I am in a HIGH rate area and I have stated value ins on my State Farm policy for my 65 GT cv. I had it appraised by a licensed appraiser who put a figure on it in writing. Taking that and pics to my agent, I got it insured for any kind of driving at any time, anywhere. My concern with antique policies: I could not get specific driving allowances in writing. So, I pay like a regular car and it sucs but I don't worry about it. I have 500 ded ins plus all the rest of the stuff. It's insured for the stated value of my policy which is the same as the appreaisal.

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JAAZZY
Gearhead

Posts: 752
From: Bay Area, CA
Registered: Apr 2001

posted 09-24-2001 08:05 PM     Click Here to See the Profile for JAAZZY     Edit/Delete Message   Reply w/Quote
I've just been using American Express for now because I am not yet ready to drive it all over. It's really cheap but liability only. I might have to switch to Haggerty once it is ready to go.

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AKBOSSMAN
Gearhead

Posts: 2848
From: WASILLA , AK USA M&M #743 MCA #40857
Registered: Oct 2000

posted 09-24-2001 08:53 PM     Click Here to See the Profile for AKBOSSMAN   Click Here to Email AKBOSSMAN     Edit/Delete Message   Reply w/Quote
Since mine is in pieces my home owners covers it. at least until the engine is back in.

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WAYNE CURTIS
70 GRABBER GREEN BOSS 302
01 Focus ZX3
03 Boss 281 (waiting on order form)
92 SHELBY 4X4 (K-9 IDITAROD LEAD DOG)
www.iditarodtrail.com
"If your under control then your not going fast enough" Parnelli Jones

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RonnieT
Gearhead

Posts: 733
From: Port Allen, La. 70767
Registered: Jun 99

posted 09-24-2001 10:09 PM     Click Here to See the Profile for RonnieT   Click Here to Email RonnieT     Edit/Delete Message   Reply w/Quote
I have my insurance with Allstate. The policy is a "actual cash value" policy and they have a copy of the cars appraisals on file in case anything happens. No limited on milage.

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Ronnie
69 mach1 351W-4V
70 Torino GT 351C-4v with a "shaker"
Mustangs and More Member #23

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65coupei6
Gearhead

Posts: 430
From: S.F., CA
Registered: May 2000

posted 09-24-2001 10:24 PM     Click Here to See the Profile for 65coupei6   Click Here to Email 65coupei6     Edit/Delete Message   Reply w/Quote
American Collectors Insurance.

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kcode
Gearhead

Posts: 2760
From: alvaton,ky,usa Suburb of Bowling Green, M&M #79, MCA #29208
Registered: Jun 99

posted 09-24-2001 11:25 PM     Click Here to See the Profile for kcode   Click Here to Email kcode     Edit/Delete Message   Reply w/Quote
Pete, I dropped State Farm because the wanted me to put antique plates on the coupe. I wanted my personalized plate which requires renewal annually. They wouldn't give me the policy I wanted.

I now have American National Property and Casualty-ANPAC out of Springfield ,Mo. They had a booth at a car show a few years ago selling a policy called "Chrome". I guess the owner of the company was trying to insure his 57 Chevy and no one would give him the policy he wanted. He has proven the owners of collector cars have a safer driving record the most. Rates are very reasonable for an as stated policy with no restrictions. They have all of my vehicles, for $1000/year. 65-66-01 GT Mustangs and my 96 Explorer.

Mike

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sigtauenus
Gearhead

Posts: 1916
From: Beaufort, SC
Registered: Jun 2000

posted 09-25-2001 01:42 AM     Click Here to See the Profile for sigtauenus   Click Here to Email sigtauenus     Edit/Delete Message   Reply w/Quote
Thanks for all the replies. I checked out Hagerty and they don't cover SC yet (I'm moving there in about 6 weeks).

Ok, this may be a really stupid question, but do any of you guys know if its legal to have insurance on your car from two different companies? I noticed the liability/ uninsured motorist coverage wasn't very high at Hagerty, and was thinking that I could keep the USAA coverage and also get coverage from one of these classic car insurance companies, and between the two, get all the coverage I'm looking for, especially since the classic car coverage is so cheap.

I know you (ok, your beneficiary's) get paid if you have multiple life insurance policies on yourself, but if I get in an accident, anybody know if I could make a claim against both auto insurance policies?

[This message has been edited by sigtauenus (edited 09-25-2001).]

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Toronado3800
Gearhead

Posts: 364
From: St. Louis, MO
Registered: Jul 2001

posted 09-25-2001 01:44 AM     Click Here to See the Profile for Toronado3800     Edit/Delete Message   Reply w/Quote
Thanks for the post. It answered a question I hadn't thought about in awhile. I have an inside source that recommends AGAINST using most main stream insurance companies and I will be looking on the web for Hagerty. If they don't have a web site, how do I contact them? Are they liscensed in Missouri?

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sigtauenus
Gearhead

Posts: 1916
From: Beaufort, SC
Registered: Jun 2000

posted 09-25-2001 01:51 AM     Click Here to See the Profile for sigtauenus   Click Here to Email sigtauenus     Edit/Delete Message   Reply w/Quote
The website is www.hagerty.com, and in the process of getting a free rate quote, they tell you if they cover your state.

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mellowyellow
Gearhead

Posts: 5919
From: So. Fl.
Registered: Aug 2000

posted 09-25-2001 08:49 AM     Click Here to See the Profile for mellowyellow     Edit/Delete Message   Reply w/Quote
Mike: I have a plate called "Collectible" on my 65. Fl discontinued it because they were issuing it for ALL old cars. Omar tools his 69 Chev 1/2 ton pulling a beat up trailer with his lawn stuff and he has a collectible plate. Not anymore.

I can have any plate I want in Fl. if I want to pay extra for it. I have a 67/8 mint plate for my 68 which I can send in and have the state validate it. That plate was on my 67 when it was new. I just gave away a 69/70 plate that was on a 69 Impala custom cpe that I owned. Not likely that I will be owning a 69/70 Stang. LOL!

State Farm has never issued an edict like that to me but maybe because I insure my car for daily use, they don't. It may vary by state, but I think that different agents have different interpretations.

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67Stangboy
Journeyman

Posts: 71
From: Lafayette, Indiana
Registered: Jul 99

posted 09-25-2001 10:43 AM     Click Here to See the Profile for 67Stangboy   Click Here to Email 67Stangboy     Edit/Delete Message   Reply w/Quote
I'm insured through my parents with Illinois Farmers and it costs me around $900 a year. I get unlimited miles and full coverage except for towing since its an old car. Its also a book value policy which I am thinking about chaning. I usually drop it during the winter when I dont drive it and when I am ready to drive it again I just go down to the insurance man, he figures out how much I owe him for the days I want to drive it and give him a check. Hope this helps some.

------------------
67 Coupe
I-6, 3sp
289 and T-5 on the way

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