I receive a message back from my Farmers Insurance Agent on Friday, but I didn't get back in touch with him before the end of the business day. In his message, he stated that for $300 per year I'd get a collector policy with the agreed value at $20k, with 100/300 limits, and deductables of $100 for comprehensive, and $500 for collision.

I didn't get a chance to ask him about routine driving. The Farmer's policy is just about double the Grundy or Chubb quotes, but I plan to do some routine driving. Like I said before...never give your insurance company a chance to screw you....in this case I think it'd worth the extra $150 every year to have a guarantee of coverage for a routine drive. If I drive to the lumber yard on a Saturday, I wouldn't have to cook up a car show that "I was on the way to" if a fender bender happens...I'd be covered and using the vehicle within the limits of the policy. I don't plan to drive it to work ever, but I do plan to run errands on weekends.

The other part that we didn't address was that my truck doesn't have the original engine installed....so that could change things a little.

I'll let you know when I find out tomorrow.

Dan

 

OK...I talked to Farmers today. The $300 per year collector policy covers the vehicle to the agreed upon value (more or less per Ilya's comments....less if something had been removed etc.). They do allow regular driving and running errands and going on vacation, but they want the annual milage kept under 2500. They are going to check on the rate because I did let them know it is modified (351w engine).

It sounds like a pretty good idea to go the extra $150 per year to assure coverage. My plan was to have a weekend crusier and not necessarily go to a lot of car shows, so this fits pretty well.

I know it is extra money every year, but you know darn well that if your truck was stolen from the parking lot of a store or restaurant, that the collector insurance companies would be working hard to see if they could somehow get out of covering the loss. And since it is a collector policy, in the event of a total loss they wouldn't be trying to go with the original sales price minus depreciation for every year it has been on the road.

This could work!

Dan

 

I contaced a couple myself, and they all wanted me to sign a document saying I would not drive it to work, or to run errands. I don't drive it everyday to work but if I want to a couple times a week I should be allowed. I was afraid if anything ever happened they would deny my claim if I didn't show registration for a car show that same day. I ended up going with State Farm (who I use for my other vehicles), and the policy is a 7500 miles max a year policy. Costs about $30 a month. The collector car companies only allow you to drive to shows apparently. I spent a lot of time sitting around in parking lots in my younger days, and don't see myself ever doing that again.

 

I get mine from Heacock. Very reasonable and allows me 6000 miles driving a year. I had a windshield replaced this year and had no problem getting paid for it. I ordered the windshield from LMC Truck and labor was $75.00. I put one in before but since the insurance paid I let a person I know come to my house and install it.

 

I want to Thank everybody for this discussion! It makes me think I need to re-evaluate my insurance on my '56 effie. I agree with Dan. I really enjoy driving my truck, I drive my truck least 3 times a week, maybe more. On the weekends I use it for running errands. It's a grocery, hardware, and auto parts store crusier....and I love every second of it! I am not a "show" guy. (Around my area, they have gotten to be more of a high dollar competition, ego stroking affair, and I won't buy into it!) My feeling is if you can not really drive it when you want to, what's the point of owning it? All that being said. I'll think I'll talk to my local State Farm guy. He drives around in a sweet '54 chevy pick up. OK, he might drive a chevy, but at least he'll have an idea about how to insure a classic ride. Not a lot of insurance folks really do.........

 

when I called State Farm, she asked me what I paid for my 56 F100. I got a screaming deal on it, probably half of whats its actually worth.... now that is all State Farm will cover it for. So I protested and was told that I can get an appraisal and they may be able to use that to improve my total loss amount.

So.... now I have to find a freakin appraisal company.

Who knew it was soo hard to insure a classic car/truck?!

 

I am with Hagerty and have no complaints so far. My policy states that my vehicle is to be used for "pleasure" and not a daily driver. There is nothing specifically forbidding me from driving my vehicle except for hire and "daily use". It also doesn't state that I must be involved in car show activities or car club use. I know that some of you do want to drive your vehicles on a more daily basis and would probably be best to have a "normal" policy. For me, if I drive my truck 2-3 days per week (that is not daily use in my opinion) then by god my insurance better cover me in the event of an accident. Otherwise, why give me collision coverage and liability coverage? Also, how does your insurance company know every time you leave your driveway and for what purpose? If I get into an accident and have a claim (which has happened in my life), I don't tell everybody and their brother where I was going. It isn't anyone's business. Just my .02.

 

also getting an appraisal every few years can only help in a total loss event.

 

Most appraisals are overinflated.

 

I agree completely teardropty. The insurance companies should not control your life. If your policy does not fit and give you the freedom to come and go as you please you should change insurance companies no matter the price. There is no sense having these old trucks if you can't use them.

As for "your insurance company wanting to know every time you leave your driveway and for what purpose" that is exactly what some of them want. Have you ever seen Progressive Insurance's ad for Snapshot. They want to track how you use your vehicle, where you go and how fast you get there.

 

Pete, I had Progressive on my motorcycle for several years at a good rate until I found the chairman and I had different values. chuck

 

Hope you let him know why he lost a customer.

 

I put way too many miles on my 53 to even consider classic insurance. Plus the fact that none of them will cover if you tow, so I just stick with my basic liability coverage with farm bureau. If I go with state minimum coverage, it would only cost me $76 a year, but I have much more I can only imagine what the classic ins agent would say if I told them I was taking it on a 12k trip that included border crossings

 

Your wife is a smart one. The AARP might be a good place to start collecting vintage car insurance rates or just talk to them and see how they can help you get insurance as your build comes together. They’re really helpful and of course you can get a ton of quotes and information online too.

 

I have my auto and home insurance with Liberty Mutual. In order to insure my F1 at full value, they required an appraisal and that the truck be garage kept. They do say that it should be used only for occasional driving, but there is no mileage restriction.

For an appraised value of $22,500 (which I think is low, but that's another story), it costs me $767 per year.

-DV