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insuring a daily driver classic

15 messages,  Last post on Jun 28, 2009 at 1:57 PM

You are in the Classic Cars Forum.

What is this discussion about? Classic Cars, Coupe, Convertible, Truck, Sedan, Wagon

Messages Page 1 of 2

#1 of 15 insuring a daily driver classic by spike13

Nov 14, 2007 (4:47 pm)

I'm considering buying a classic car - 1969 Charger. While I have other newer cars, I'd still like to take this one out sometimes to regular places or to work. My insurance company will only insure the depreciated value - in other words - not nearly what it's worth. Classic car insurers won't cover it if you drive it to the store or to work, even if you only do that occasionally.
 
How are other folks covering their rides? Do you just take the risk?

#2 of 15 Re: insuring a daily driver classic [spike13] by fintail

Nov 14, 2007 (5:11 pm)

Replying to: spike13 (Nov 14, 2007 4:47 pm)
I've only taken my old car to work a couple times since I retired it from daily use several years ago - I've just risked it.
 
Now I insure it through Hagerty, I assume their 'pleasure use' type of driving includes stopping by the store etc.

#3 of 15 Re: insuring a daily driver classic [spike13] by Mr_Shiftright HOST

Nov 14, 2007 (6:20 pm)

Replying to: spike13 (Nov 14, 2007 4:47 pm)
Why won't your insurance company insure it if you get an appraisal? Maybe your sense of value is too high and that's the problem. I know that many mainline insurance companies insure classic vehicles for their full value, but most require an appraisal to do that.
 
If your insurance company is REALLY saying they don't want any classic car business ever, then I'd switch to a mainline company that will accommodate your new AND old cars.
 
As for the classic car insurers, yes, you must have a garage, you must have another car to drive, and you must limit your miles to under 2,500 a year, for club events, tours and "exercise" (perhaps that's a loop hole?).

#4 of 15 .. by low_ryder4ever

Nov 14, 2007 (10:00 pm)

drive it on the insurance, they'll never know. If something was too happen just say you were takin it out for a spin they cant do anything. Just dont go speeding around getting tickets or your screwed

#5 of 15 Re: insuring a daily driver classic [spike13] by andre1969

Nov 15, 2007 (6:03 am)

Replying to: spike13 (Nov 14, 2007 4:47 pm)
Like Fintail, I have classic car insurance with Hagerty. They're online... http://www.hagerty.com . I have three cars insured with them: a 1957 DeSoto Firedome, a 1967 Pontiac Catalina convertible, and a 1976 Pontiac Grand LeMans coupe. I think my policy is about $178 per year, total.
 
One thing that Hagerty does that's cool is they only hit you up with liability once, no matter how many cars you own. Whereas with most companies, you pay liability on each car you own, and then collision/comprehensive on top of that, I guess Hagerty figures you can only drive (and wreck) one at a time!
 
Hagerty is also pretty generous with their usage. Basically, as long as it's not your main source of transportation that you're driving back and forth to work/school all the time, you'll be fine. And driving your car to work every once in awhile on a nice sunny day, they're not going to care about that. Heck, maybe you have a friend at work that wants to see your car, or something! They also don't have a mileage limit.
 
Most of the big insurance companies, like Allstate, Nationwide, etc, aren't really set up for classic car policies. They'll let you insure it as a regular vehicle, but you'll pay through the nose and their coverage would be pretty bad.
 
I used to be insured with Allstate, and they actually did have some kind of limited use policy you could get, which saved you a little money. I had a 1969 Bonneville that rarely ran, and I had it on that policy. I think it was like $100 per year, but was liability-only.
 
Anyway, check out Hagerty, and see what they can do for you.

#6 of 15 Re: insuring a daily driver classic [andre1969] by Mr_Shiftright HOST

Nov 15, 2007 (9:21 am)

Replying to: andre1969 (Nov 15, 2007 6:03 am)
Thanks for the info andre. There doesn't seem to be an actual mileage NUMBER, but they do say:
 
"Usage. Hagerty provides coverage for vehicles that are used on an occasional basis -- e.g. club functions, exhibitions, organized meets, tours and limited pleasure driving."
 
I think the key word is "occasional"--so daily use or regular use for the same function would probably violate the policy.

#7 of 15 Re: insuring a daily driver classic by spike13

Nov 15, 2007 (10:28 am)

I called Hagerty and a few other classic car insurers - they all said the same thing - it's not insured if you take it to work.
 
While I don't want to drive it all the time, I do want to drive it other than on sunday drives -- isn't that part of the fun?
 
State Farm said they might be able to do coverage with an appraisal, so I'm waiting to hear back from them. I'll post back what my results were with them.

#8 of 15 Re: insuring a daily driver classic [spike13] by 0patience

Dec 06, 2007 (11:55 pm)

Replying to: spike13 (Nov 15, 2007 10:28 am)
I'm not certain what State Farm's policy is now, but 15 years ago, I had my 67 Camaro covered by them.
It was insured for it's market value with an appraisal and was covered for "limited" mileage. Seems to me, it was up to 3000 miles a year.

#9 of 15 insuring daily drivers by draper413

Apr 25, 2008 (3:25 pm)

how can they prove how many miles you drove on it anyway....for instance my 1968 mini cooper...i have no ideah wat the miles are on it...
Is there a way they can prove it at all...

#10 of 15 classic daily driver by mustangooobaby

Jun 28, 2009 (12:48 pm)

I have my eye on a 67 mustang but I can find insurance for it!
well not any that restricts how many miles I can drive. What insurance companies are good?

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