Do any of you have your vehicles insured through a company that specilizes in antique/classic vehicles, instead of just insuring them as "an additional vehicle" along with your home/auto insurance?

If so, what companies have you found to be dependable, reasonably cost, and reliable for claims.

thanks,

 

I looked into it briefly. If somebody out there knows a better answer to what I've written below, please chime in and set me straight.

If you get the classic vehicle insured for "stated value", you get to decide how much the insurance company pays out if it gets totalled and pay very large premiums for the privilege. With those policies you stand a chance of recovering the investment you put in.

If you insure it "actual cash value", you have to prove what it's worth and that can be difficult. Worst case is the value get's set something not far from the original purchase price, which is nowhere near what most of these trucks are worth.

The worst part of almost all the policies are the usage restrictions. Most of them have low annual mileage (2k-5k a year) and won't allow you to commute to work, or ever leave the truck unattended in a parking lot for that matter. They assume that the vehicle is either locked in your garage or you are sat behind the wheel, presumably with your .45 Magnum on the seat for protection against car jackers!

So, I've got mine insured to take care of liability, and have a $500 deductable on collision/comprehensive. If the truck get's totalled, I'd probably only get about 1/3 of what it's worth. If it get's stolen from the parking lot at work, I'll probably get screwed out of that 1/3 part too.

Bottom line is that everytime I drive it I'm at risk of losing money. But hearing that old Y-block rumble makes it all worthwhile.

ROB

 

My State Farm agent sold me "Classic Insurance". You set the price of the vehicle, what you think it is worth. It is a low premium if you have other cars on the same policy (mulit-vehicle) becasue they know it will be low mileage, second or third (or fourth) vehicle and you will take care of it. Perhaps it depends where you live, big city v rural.

 

also check Grundy and Haggerty insurance company...if i'm not mistaken....Grundy has unlimited mileage...

James

 

The only insurance option is public, so there's no shopping around for me

I can have either, All purpose, pleasure or antique. All purpose is $480/yr and can drive anywhere, no restrictions. Pleasure is a bit cheaper, cant drive to school or work. Antique is probably A LOT cheaper since your only allowed to drive in parades and to car shows.

 

I had Sneed, Gerber, and Robinson Insurance on my 65 Mustang 2+2 while I had it. It only cost me $130 a year for $12K worth of coverage. They let me set the value myself. It was worth more than that, but I figured I could replace it for that anyway. There was no limit on driving but it had to be garaged and I had to furnish pictures of it at the outset. Also, they require you to have TWO other vehicles in the household. I guess this is to ensure you don't use it for general transportation. I never had a claim on it.

Vern

 

I feel sorry for our Canadian Brethern. Our friends to the north are becoming more and more socialistic and hence not as much freedom of choice as lamented by Joners. Same for the health care system. I am glad that Hilliary's Universal Health Care Plan (read Government run and bueracracy loaded) did not go through. Remember, Al Gore wrote a book where he wants to get rid of the internal combustion engine!!

For the rest of us, shop around for insurance and make sure they know how much it costs to replace damaged fenders, hoods, etc. Maybe I am lucky but I had my truck for 21 years before I fixed it up and I never had a fender bender. Now that she is looking good I am afraid some goofball yakking on the cell phone will not see my 2 small round brake lights and rear end me. I shared this with my young son once, I said my biggest fear is someone will rear end me, he looks at me and says, Gee, Dad, I thought your biggest fear was drowning? Ah, youth!!

 

I just got my Haggarty renewal for my two old vehicles. Both are covered for $17K. The fee is $423/year with a 2500 mile restriction. I am switching to Grundy. Their bid was $254/year with no mileage restriction. John

 

I have a 62 Chevy II and my 56 F100 insured through Hagerty Insurance
They are Agreed Value.... you set the coverage based upon what you and the Insurance rep come up with ( both vehicles have what I stated the values were, there was no haggeling back and forth) as the vehicles value if totaled.

The provisions are as follows:

1. Must be stored in a garage (this hasn't ever been verified by Ins. Co.)
2. You must own and have insurance on another later model vehicle.
3. You cannot drive over 2000 miles a year (this hasn't ever been verified either)
4. You need to provide several pictures showing vehicles condition.

I meet all of the above criteria but I also know that they haven't asked me to PROVE
they are garage kept or that I drive them less than 2000 miles a year.

I have also checked out Grundy and they have similar requirements but they have no restrictions on mileage. They want you to have another later model vehicle to let them know that it would be your daily driver and not the classic.

Both vehicles are insured @ $8000 agreed value apiece and I pay a TOTAL of $153.00 a year ( Yes that's $76.50 each).
Not a bad deal for someone like me.... you would have to determine if its right for you.

 

I have Condon & Skelly, which is part of MetLife Insurance. I have four old vehicles, which cost me about $300 per year for the lot. It's "Stated Value" coverage. I've been modest about the values that I selected, but I probably could replace the vehicles at those values... if I did some searching. That doesn't mean a settlement would cover the amounts that I have invested.

There's a 2500-mile restriction, but they don't check, and I don't drive that far anyway. I'm not supposed to drive to work but can for other personal uses. I must have at least one other car insured in a conventional manner. They ask if the vehicles are garaged, which all of them are, but I don't think it's actually a requirement. Maybe the premiums would be higer otherwise, I don't know. They did require photos, but the insurance agent took them. I've never had a claim in 20 years, so I don't know how good their response would be if I did.

Rob

 

My Haggarty agent requires me to fill out a renewal letter every year stating the current mileage so they can calculate the number of miles driven. Grundy is indead no mileage restrictions. John

 

Well I'm one of those poor Canadian Brethern But my insurance through Silver Wheels for antique and custom cars runs me $237 a year with no mileage restriction
and full coverage with replacement value reached through a profesional appraisal done by the appraiser of my choice.Not bad for a poor Canuck I think

Chris

 

Mine is tagged on as an additional car nor primary and valued at 15K. Preimum in East Tennessee is $121 annual. no limit on mileage.


Jet Jock
"I drive a 'girly' 302 because, when I want to go fast, I go to work"

 

I have had collector cars for the past 42 years. I still own my 29 Model 'A' Ford I bought in 1962. I have always had antique/ collector insurance. For years I insured with J C Taylor. I bought a turn key Street Rod 6 years ago. At that time Taylor didn't insure Hot Rods. That's when I started looking around for affordable coverage for all my cars.

I've had Condon & Skelly, Haggerty, and now I am with Grundy. Grundy beat everyone else hands down. NO auto age restrictions, no mileage restrictions, excellent liability, and vehicles are insured with 'Agreed Value'. Stated Value in NOT the same as Agreed Value. Stated Value is the amount your vehicle is worth at the time of insuring. If you have a loss after that time your vehicle COULD be depreciated. Agreed Value in the amount you and the insurance company agree the auto is worth at the time of insuring. It stays the agreed amount unless you raise or lower the value at renewal time. You will collect the agree amount in the event of a total loss regardless. There is no depreciation.

I have 8 vehicles insured with Grundy including 2 Hot Rods (32 3 window Plymouth Coupe, 37 Ford Tudor), the 29 Ford, a 64 Falcon (bought new) , an 88 & 94 Mustang GT, a 46 Dodge 1/2 ton and a 48 Ford F1. Grundy makes it possible to have great, affordable insurance coverage.

 

Hey S Jones, I did notice in the Grundy requirements that they state "no errands" in the old cars. How sticky are they gonna be on that? If I stop to buy a soda, or a gallon of milk, is that an errand? Just curious. John