Insurance: classic vs. antique vs. standard Options

[JerryP]

Anybody use classic or antique insurance? I'm in PA with a '72 2.0. Grundy Worldwide says no coverage going to school, work or on errands. Anybody know the pro's and con's of this insurance? I want to know if I should dump my standard insurance and save about 75%. I don't use the car as a commuter but I would like to be covered if I get spanked by a Buick in the Home Depot parking lot. Ideas? Thanks.

[seanery]

That coverage wouldn't do it for me. I like to USE my car. It sounds like you are covered only during pleasure drives and car events. Not enough coverage for me.

[tat2dphreak]

Hagerty insurance

I've heard great things about them, and plan to use them when my car makes it's triumphant return to the roads!

[seanery]

this is what Hagerty said about insurance for me:
what's wierd is they didn't ask for any personal info about me (IMG:style_emoticons/default/confused24.gif)

[tat2dphreak]

I know... that's weird, but they assume a clean driving record, and won't insure you without a clean record... they do limit miles, but it's not very restrictive... something like 7K miles per year... I only put 10K on my daily driver per year! and the 914 will not be a daily commuter car...

[seanery]

7k a year is no problem. I'm sure between both cars I don't even do 10k a year now (unless I drive to LA or SF in one)

[seanery]

I just called my SF agent to ask them about Hagerty. I gave her the #s listed above, they are the bare minimum state levels of inssurance.

[tesserra]

Hagerty is a good company to support.
They have "scholarships" for old car restoration. They support restoration and feel that a car sent to the junkyard smasher is a piece of history, and potential premium, forever lost.
They insure my Woodboat and have a great approach to classic vehicles.


George

[JerryP]

I used 6500 as agreed value and got a $90 per year premium with Hagerty. Grundy has a 2500 mile/year limit on classic insurance. If 7k is correct and you can drive at night, I'm in. Thanks guys.

[tat2dphreak]

call them to double check about the milage limits, I'm going by what a friend heard... but I'm sure it's more than 2500 miles! that's Nuckin' Futs!


but I've known a few people use hagerty... I would err on the side of caution... assume you are going to have to buy another 914 if you wreck this one... I allowed for 12K... if they only agree on 10K... you are still in decent shape.

[seanery]

double check that your coverage is adequate-those #s were too low if you caused a serious accident....I know, we never think it could be our fault, but it could...

[seanery]

I bumped up the coverage #'s (you have to do that manually) to get them closer to my State Farm coverage.
This is what I got, still, it seems like a good deal.

[seanery]

I just got off the phone with them.

1.They like to see mileage ~2500/year for the car
2.Driving to the grocery and it gets hit is OK, but they would rather you not drive it to/from work and for chores, etc...
3.They need a pic of each car to insure
4.They need a copy of your daily driver car's insurance policy.
5.Yearly premium to be paid in full.

I think that's about it. Sounds like a decent price and deal to me.

[JerryP]

cool...I didn't see that you could manually change the coverage on their website. I did just call Hagerty though and they told me they are not concerned with actual mileage as much as how the car is used. They only write you a policy if there is already one car for every driver in the household.

[seanery]

I forgot two more things:
1. Driving from IN-SF for West Coast Classic is ok, no problems with the 4200 miles
2. They will insure a race car-not while it's on the track, but during storage and travel.

[tat2dphreak]

so it's the car's "use" more than the mileage... that's a hell of a deal if you ask me! I only will drive around (sonic on Saturdays (IMG:style_emoticons/default/laugh.gif) ) and maybe occasionally to work or to MUSR or parents house(300 miles) I'd be shocked if I put 2.5K on in 1 year!

[RustyWa]

When I talked with Hagerty....they said they did not like you using it for errands or driving it to work. That was enough for me to pass on them. Sounds like depends on the agent you talk with, might get different answers.

[ninefourteener]

I have dealt with this..... and I chose to go with just "regular" full-coverage. There's no mileage restriction, and with classic insurance... they said that the car has to be either in a garage, or in plain site, at all times.

That means if I go to Wal-Mart to pick up toilet paper in the teener, and someone smacks into me, I'm not covered because I wasn't actially "watching" the car.

The downside? If I total it, they will not want to cover the entire value of the car.... which means I may have to take them to court. Thats why I have an in-depth video of the car, and two different appraisals at $9000, and $9600 respectively. I highly doubt I'll total it.. I drive it like grandma, especially with my daughter in the car.. so I think I'll be ok.

The upside?? I have full coverage on a 2002 Acura RSX, and full coverage on a 72 2.0. I have towing, rental reimbursement on both, and I'm a 28 year old single male....... I pay about $110 a month.... not too bad (IMG:style_emoticons/default/smile.gif)

Just my 2 cents

[DuckRyder]

I just called my SF agent to ask them about Hagerty. I gave her the #s listed above, they are the bare minimum state levels of inssurance.

You do realize that SF writes a "Collector Car policy" (At least in most States)

Watch "Stated Value" policies, they are not always "Agreed Value". If you buy an agreed value policy the declarations page should say some thing like:

"Vehicle value is 9500.00" - "Limit of Physical damage coverage is 9500.00"

If it says something like:

"Estimated vehicle value is 9500.00, settle on ACV"

The estimated value won't do you much good, but the company will charge premium based on it.

Now, about the limits:

[RANT on]

Riding around with minimum limits this day in age is absolutely foolish. I would not leave the house in anything without 100/300/100 limits AT LEAST! All my stuff has 500,000 single limits.

One little lapse in attention or misjudgment could ruin your entire life. You could quite accidentally be involved in an incident and get a hundreds of thousands of dollars judgment against you, seen it happen too many times, Trust me, it'll be bad enough mentally and physically without the added stress of how you are going to pay the $275,000.00 excess judgment.

[RANT off]

[tat2dphreak]

1st off... on the "usage" it's not like you have to tell them WHERE you were going or what you were doing when it happened... if you ask them, then yes, they will care if you use it for going to work... because they will assume that you will do that often... if I get smacked in a parking lot while getting a quick thing and they ask... just say "I was having one of my rare drives and I remembered I was out of flour tortillas, so I decided to stop off..." (IMG:style_emoticons/default/wink.gif)

hagerty does have to agree on how much you are covered for... that way someone can't insure a Pinto for 20K and get a brand new car from the deal. the tool on the web is just to give you an idea...

ninefourteener... I think you misunderstand... the $120 hagerty quotes is for a YEAR... not a month... but 110/month is not bad at all... I had my Chrysler(POS), my wife's Civic, and the old teener on and with reneters insurance... it was $150..
35 of which was the teener... 35 *12= 420 /year that is why I am going with the hagerty... I don't drive it enough to warrant $420/year

it's not bad, and if you can afford it, have both!!! THAT is the way to go!