Insurance: classic vs. antique vs. standard Options

[jtf914]

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.

Be careful with SF, I'm insured with them, I set up an Agreed Value policy with them, and then after hearing some SF "Agreed Value" horror stories, I called and starting asking questions again. After 10 minutes of giving me the run around he says: "Well technically, we don't do "Agreed Value" policies, but we'll check the market, and fight to get you as much money as we can if something happens to your car."

(IMG:style_emoticons/default/bs.gif)

Maybe SF does them some places, hell, my agent told me mine was for two years. CYA.......

[seanery]

After talking with Hagerty, especially since they'll insure the race car. I'll switch to them. For me to insure both cars and have the highest limits they do (see my previous pic #2) was $420/year and that listed the -4 at $10,000 and the race car at $15,000. I know I've more than that in the race car, but that's what it would probably sell for in it's current condition (IMHO).

[DuckRyder]

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.

Be careful with SF, I'm insured with them, I set up an Agreed Value policy with them, and then after hearing some SF "Agreed Value" horror stories, I called and starting asking questions again. After 10 minutes of giving me the run around he says: "Well technically, we don't do "Agreed Value" policies, but we'll check the market, and fight to get you as much money as we can if something happens to your car."

(IMG:style_emoticons/default/bs.gif)

Maybe SF does them some places, hell, my agent told me mine was for two years. CYA.......

What does your declarations page say?

[ldino21]

Realize that a Hagerty Insurance policy requires that the vehicle to be insured is not your primary vehicle and that you have insurance on your Primary vehicle. They ask for company and policy number.

If this is the case for you Hagerty is a great Classic Car policy, it is not too limiting, you can put how much mileage you are actually driving the car.

If you need more info let me know!!

Lou Smaldino
Smaldino Insurance Agency

[ldino21]

With regards to Stated Value policies:

If you buy a stated value policy you need to make sure that your Stated Value is correct. Anyone can walk into an office and say I want a $20,000 Stated Value policy on my Ford Pinto and some agent might sell it to you, but that doesn't mean you are going to get $20,000 if that car gets mysteriously stolen or something.

With every insurance policy in California, YOU need to be able to prove the value of your vehicle, the best way to do this is to get an APPRAISAL!!

Pictures, receipts and Service Records help, but an Appraisal is better!!

An appraisal is considered a disinterested 3rd party when it comes to settling up with an insurance company, and it usually gives a pretty acurate value. Most Body shops, or Dealerships can point you in the direction of a good Appraiser.

Good Luck

Lou Smaldino