insurance
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Fleet Mechanic
Joined: Apr 2015
Posts: 1,583
Likes: 480
From: Kemptville, ON,
insurance
I did the on line thing with Hagerty for insurance. Used a truck value of 38K, drive 4000 km per year, deductible is $500. Using the mods they asked about I got a quote for about $550/year. Is that reasonable? I thought guys were paying about $250/year.
Knuckle Bandage Sales Rep
Joined: Feb 2011
Posts: 3,675
Likes: 1,238
From: Maine
$550 a year may be on target for the dollar value of your truck. Miles driven would be unlikely to affect that quote you got.
The $250 annual rates are in line with the $20,000 stock trucks. My opinion. I've used Hagerty for 15+ years and always had very reasonable premiums. But I've never had a higher value vehicle.
Tom
The $250 annual rates are in line with the $20,000 stock trucks. My opinion. I've used Hagerty for 15+ years and always had very reasonable premiums. But I've never had a higher value vehicle.
Tom
Tuned
Joined: Oct 2011
Posts: 445
Likes: 3
I looked at both big classic insurers, I didn't like either one because of how they wanted to limit me on how much and when I drive my truck. Weekends only, only to cars shows or meets and so forth. One, my off days are Mondays and Thursdays, so I want to drive and play with it on those days. I'm not putting all this money in it to just sit, I want to drive it whenever I want. Plus, it seems that there is more parts availible for these than my old '03 Corvette. So I'll take plenty of pics and get a declared value on it and get a high deductible and drive the crap out of it. That is whenever I finally get it out of the shop that it's been in for awhile. Good luck with your decision, L8R ZFLASH
Hotshot
Joined: Oct 2009
Posts: 16,153
Likes: 4,753
From: Burbank, WA
Don't forget your exchange rate. $550 Canadian is about $385 US, so there's a big chunk of the difference right there. Like Tom said, the declared value difference could make up the rest.
Logistics Pro
Joined: Jul 2016
Posts: 3,646
Likes: 816
From: Swan River Valley M.B Can
I'm not sure how Ontario is but in Manitoba the usage limitations on the cheap Antique plates are very restrictive . We didn't want any restrictions and we hadn't got an appraisal yet so we initially just licenced under all purpose @ about $600/year . Now that we have it appraised we can just leave it as is with the proof of value or explore some other options . I would much rather pay a little more than get into trouble and have insurance tell me I'm not covered .
Fleet Mechanic
Joined: Mar 2005
Posts: 1,462
Likes: 185
From: Dedham, MA
Mine is valued at $28K and my Galaxie is at $16K, total premium of $334 for both.
Is the truck actually work $38K or did you over-value it just in case something happened?
Is the truck actually work $38K or did you over-value it just in case something happened?
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More Turbo
Joined: Jun 2005
Posts: 561
Likes: 67
From: Sandpoint, in north Idaho
American Collectors Insurance thru USAA.
$30,000 agreed value
300,000/500,000
no deductible
1000 miles per year
$320.00
$30,000 agreed value
300,000/500,000
no deductible
1000 miles per year
$320.00
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Logistics Pro
Joined: Jul 2016
Posts: 3,646
Likes: 816
From: Swan River Valley M.B Can
Do you have mileage limitations - storage requirements . One thing that has been brought up ( not sure if it was here or another site ) is that some of the big names won't insure unless you have permanent structure parking - storage .
Hotshot
Joined: Oct 2009
Posts: 16,153
Likes: 4,753
From: Burbank, WA
I don't know of any collector car insurance, even from the major conventional carriers that offer a classic policy, that allow outdoor permanent parking. They always require garage storage/parking. Mileage and use restrictions may vary, but being in a garage is always one of the rules.
old and in the way
Joined: Jul 1997
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From: Lovely Hueytown Alabama
Thread Starter
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Fleet Mechanic
Joined: Apr 2015
Posts: 1,583
Likes: 480
From: Kemptville, ON,
Good question and was thinking about that today. That is what I have into the truck today. That includes all shipping fees, duty fees, dollar exchange, etc. Ya, us Canadians pay 30-40% more for everything we get from the USA. It does not include a few dollars for stuff I messed up (less that $500 I think) The big thing I was thinking about was my labour as I have done everything myself so far. Should the value be for what I have into it or should it include labour to redo it if something happens?
Knuckle Bandage Sales Rep
Joined: Feb 2011
Posts: 3,675
Likes: 1,238
From: Maine
Tom
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