RatDog

Pretty good read.

https://www.acarplace.com/2016/03/insurance/amp/

Steve

DansYellow66

Yep, suspect a good number of people either are somewhat unaware of the common restrictions or choose to roll the dice and risk them anyway.

Redbird

You may not always understand a policy, but READ it ANYWAY!!!! Read the exclusions or limitations. Then go talk face to face with your agent.

Ron-C2

I noticed that Hagerty was not one of the insurance companies mentioned in the article.

I've insured 3 collector cars with Hagerty over the past 15 years and have had good experiences with them.

I had a Jaguar E-type stolen while at a repair garage several years ago and Hagerty was excellent at handling that claim for the full Agreed Value.

They seem to be more flexible than others about letting owners use their collector car for the occasional errand or even driving it to work every once in a while (note that they do add a small surcharge for that).

Of course, do as much research as you can before choosing a specific insurance company.

Frankie the Fink

People should read, carefully, item #3 about 1/2 way down the page about extended "road trips".....folks argue on here all the time about the restrictions with classic car insurance and then reluctantly check their policy and get some sobering insights...

Duck916

The article has some errors and makes some incorrect assumptions in some places, but it's still a good reminder. Remembering that every policy is different and state laws vary, no one should rely on internet sources for their final coverage analysis. You should read your policy. If you have questions, ask the insurer (better than asking your agent) to clarify and document the response.

Dreaming60’s

I had hagerty (no issues), but have now switched my coverage to the NCM and certainly believe I'm covered on all instances, provided I don't drive the car more than 3000 per year. The NCM knows what we do with our cars. These are not parade vehicles nor are they daily drivers. They are mostly fair weather weekend cars that seldom see more than a few thousand miles per year. Your mileage might be different.

Very interesting read though.

BH

70ptta

what insurance companies are best for the people who drive their cars more than just the weekend cruise and still will insure for an agreed value? I use a couple of my old cars as daily drivers during the good weather months and would like the best coverage for piece of mind.

RatDog

None of the Agreed Value policies I’ve looked into will insure you for daily driver errand-type driving. Believe me, I’ve checked them all.

Steve

smd001

My 62' has an agreed value policy with State Farm. An appraisal is required as are photos for their records. Had an appraisal done by a licensed appraiser who specializes in and collects corvettes. Car is insured for appraisal value. I am allowed up to (I think) 5k a year and there are no stipulations on where I drive it. They assume correctly that cars like this are driven infrequently and their owners are semi-wacko and likely love their cars more than most. It may help being a long time customer as I pretty much have all of my insurance through them. The annual rate was quite a bit less than Hagerty.

Frankie the Fink

I guarantee you that no underwriter "assumes" anything and if they are letting you driving it more, increasing risk, your premium will reflect that...

Frankie the Fink

Yes and it gets old hearing people say differently without confirming it - and, most policies will cover pleasure driving in answer to the post above yours...

CorvetteMikeB

You would probably need to forfeit the " Antique License Plate" for a "standard License Plate " to make your Classic Corvette an everyday driver. Much like people with late model exotic cars use and pay the $$$$ car insurance premiums.

RatDog

If I wanted to drive my car anywhere I wanted, all I’d have to do is drop my Agreed Value policy with NCM and add it to my wife’s C6 policy. I can drive that car anywhere I want. If I suffer a loss with that car, I’ll get reimbursed at Blue Book value which is fine with me. However, I wouldn’t be happy with a Blue Book reimbursement for my ‘67.

Steve

roadster65

I have ALL my cars insured with Shannon's, who specialise in Collector cars; they have various types of cover dependent upon use and the premiums vary according to the risk. Having said that, Shannon's are very competitively priced, more importantly they are excellent to deal with in need, and exceed expectations in their service delivery, you have unquestioned repairer of choice, and you can nominate an agreed value on your policy. - no affiliation - just my experience in dealings with them past 30 years - GV

smd001

ok well the the premium is still very reasonable especially when I compare it to what I pay for my other corvette, cars and trucks.

smd001

not going to photo copy my insurance and air my info but my policy has only a mileage restriction. How and when I put those miles on it are irrelevant. Sorry that is not a good enough confirmation.

i believe that many “assume” they should go through collector car insurers in order to get a company that “understands “ collector car values. Pretty sure and confident a tier one company like SF has things in perspective.

RatDog

From State Farm’s website (https://www.statefarm.com/insurance/...e-classic-cars)

“Here are some important conditions for classic car insurance eligibility:

• Your antique or classic car must be used on a very limited basis, such as exhibitions, club activities, and parades or similar events.”

Steve

ricks327

In our area, during the "warm weather classic car season", there are multiple car events, 7 days a week. Find one to cite prior to making your claim and the onus is on the insurance company to prove otherwise. "I was on the way to/from …...Cruise-In and stopped to get a pack of gum/carb cleaner/milk/gas/, etc." Their verbiage is too vague for them to prove otherwise and you were just out enjoying your car, not making it a daily driver. You are not trying to defraud your insurance company but to prevent from them hiding behind some obscure wording of the contract to deny a claim. "Oh, you went to a party store to get a six pack and no other purpose? Claim denied." "No, I was on the way home and the wife called that she needed tampons" . Protect yourself from the insurance premiums you are paying for the casual use of your classic car.

Vette5311

I have State Farm and have most of my life. House cars life PLI etc. On my 66 Vette they were very clear about limited use and mileage. So much so it was not an option to insure with them. Anyone without a specially policy had better read it completely and very closely. Paying very close attention to fine print and restrictions. I was taken by surprise. Just a word of caution. You may not have the coverage you think you do.