I've had first hand experience with a total loss. My company was JC Taylor and the policy was an "agreed value policy". More than ten years ago, driving my 1974 Porsche 914 down a mountain road with a sharp curve at the bottom, I lost control on an unseen oil slick (the next two cars to come down also lost control), slid into a tree ruining the vehicle (I was not hurt). Two days later a very courteous and professional appraiser labeled it totaled, five days later the check arrived for the "agreed value". JC Taylor also telephoned giving me the first chance to purchase the vehicle for the salvage price. The police report blamed the accident on "road conditions" and I was not cited. JC Taylor did not cancel my policies on my other vehicles. Years later, when I went to insure my resto-modded '55 F100, the question was asked "did it have its original engine". When I explained it didn't (302 sbf), they said they did not offer coverage on it. I have an "agreed value policy" on the F100 with Grundy International. If you check Grundy's web page defining what "agreed value coverage" is, I think you'll find that is the only type of policy to get.

 

The exclusion for most specialty vehicle insurance policies is "personal use". The vehicle cannot be used as daily transportation, used for errands, or in place of another vehicle while that vehicle is in the shop.

The unlimited mileage is only for covered events as listed in the policy, i.e. pleasure driving, parades, cruises, etc.

Grundy is dirt cheap. That's why I've been with them. Before I went with Grundy, I looked into Haggerty, JC Taylor, and a few others. I've found Grundy to have the best policy coverage, price and less limitations.

 

Thanks for all the great replies guys.

 

What's your <a href="http://www.2insure4less.com">insurance quote</a> at? Total coverage? Did you decide who you're going with? I have allstate right now but I'm concerting switching. Any suggestions?

Cheers,
Joe

 

Based on the feedback, I asked Grundy for a detailed quote. The online quote for a $20400 agreed value and $300,000 coverage for an "original" truck was $165 per year. I'll post back after the details are ironed out.

I need to make sure power disc brakes, power steering and a few other minor mods are still considered "original" and not "modified". The modified quote online was ~$350 per year.

 

Panelman, your word is gold for me so I checked in with Grundy, did an on-line quote. Came in at $130 per year, about $300 cheaper than what I have, and with collision vs not. Their website goes on and on about how Grundy likes to drive their collector cars, so there's no limit on where or how far you drive it. Then I called them to firm up a few questions.

TLB is correct, absolutely no limit on miles, it's just that they won't cover 99% of my usage! They will not cover using the vehicle for "errands", as a "backup" car, and only for "occassional" drives to work. The agent I talked to said errands were a higher risk to them than driving it to work, and absolutely prohibited (she actually used the example of using it to run down to the hardware store to get a bolt --- one of my common trips in the '52). If I didn't have two other cars (primary and backup) for driving to work, they wouldn't cover the '52 at all.

Maybe some folks can live with that, but I can't... Damn it, I already spent the savings, too!

 

Ross, you have my phone number. Call me if you'd like and I'll explain more to you. There's always a possible loop hole.

Just as another comparison, the 51 Panel was, at one time, insured through State Farm as a regular vehicle. The cost was approximately $300/year with $100 collision and comprehensive coverage.