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insuring a daily driver classic

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

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

Messages Page 2 of 2

#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?

#11 of 15 Re: classic daily driver [mustangooobaby] by Mr_Shiftright HOST

Jun 28, 2009 (1:14 pm)

Replying to: mustangooobaby (Jun 28, 2009 12:48 pm)
If you don't want a mileage restriction you'll have to go with a "mainline" insurance company. Most of these mainline companies (they are not classic car specialists) will only write you a Stated Value policy, which means they will pay you UP TO the stated value you both agree upon. So there's that loophole.
 
The classic car insurers, while they do have restrictions (must be garaged, limits on mileage, must not be your only car), offer an AGREED UPON value policy, which means that you'll get a check for whatever value has been agreed upon, no questions.
(presuming you follow their rules).
 
Some mainline insurance companies might ask you for an appraisal, and this is probably a very good idea for you to agree to do that.
 
Here's a JD Power study of insurance companies. As you can see, there are very few standouts.
 
Insurance Company Ratings by JD Power
 

#12 of 15 Re: classic daily driver [mustangooobaby] by fintail

Jun 28, 2009 (1:32 pm)

Replying to: mustangooobaby (Jun 28, 2009 12:48 pm)
From horror stories I have heard, it is not advisable to drive a classic of any significant value as a daily driver insured through a mainstream company, as you will be offered a pittance if anything ever happens. If it is a common 67 Mustang, this shouldn't be a worry, but if a huge sum is invested in it, always keep in mind the risk of getting a fraction of what you think the car is worth should it be written off.
 
The classic insurers are much easier to work with, from what I understand - but you have restrictions as was stated. I have a policy with Hagerty, which requires the car to be garaged and not to be the primary vehicle...I think they give me 2500 miles a year, and an annual premium of $100 with an agreed value of $5000. It seems pretty fair to me.

#13 of 15 Re: classic daily driver [fintail] by Mr_Shiftright HOST

Jun 28, 2009 (1:56 pm)

Replying to: fintail (Jun 28, 2009 1:32 pm)
Well if he doesn't want mileage restrictions, he has very little choice.
 
Here's a list...maybe one of these doesn't have a mileage restriction:
 
Insurance Providers
• American Collectors Insurance Inc.
498 Kings Highway N, P.O. Box 8343
Cherry Hill, NJ 08034
800-360-2277, 856-779-7212
www.AmericanCollectors.com
 
• American Hobbyist Ins. Agency
2501 SE Aviation Way
Stuart, FL 34996
800-395-4835, 772-287-9363
www.AmericanHobbyist.com
 
• Condon & Skelly
121 E. Kings Highway, Suite 203
Maple Shade, NJ 08052
800-257-9496
www.condonskelly.com
 
• Great American Insurance
Classic Collectors Program
P.O. Box 429569
Cincinnati, OH 45242-9569
800-252-5233
www.classiccollectors.com
 
• Grundy Worldwide
P.O. Box 1957
Horsham, PA 19044
800-338-4005
www.grundy.com
 
• Hagerty Classic Insurance
P.O. Box 87
Traverse City, MI 49685
800-922-405
www.hagerty.com
 
• J.C. Taylor Antique Automobile Ins. Agency
320 South 69th St.
Upper Darby, PA 19082
800-345-8290, 610-853-1300
www.jctaylor.com
 
• Sneed Insurance
PO Box 34698
Memphis, TN 38184-0698
800-619-7827
www.sneedinsurance.com

#14 of 15 Re: classic daily driver [mustangooobaby] by euphonium

Jun 28, 2009 (1:57 pm)

Replying to: mustangooobaby (Jun 28, 2009 12:48 pm)
The higher the riskyness, the higher the premium - as it should be.
 
Will the Stang be for go or show? If show, Hagerty. If go, Any domestice carrier will take it for the reasonable applicant, but with photos if not an appraisal.
 
In both cases driver's license history is very critical.

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