I have had my 72 insured with NCM for 3 or 4 years now and never had an issue. When I got my renewal package I was notified that they had to issue me a new policy because of a change with the company and an outline of the differences between the new vs the old was included. One paragraph jumped out as an issue and I called them about it. See below for a word for word copy of that paragraph...

The occasional pleasure use definition no longer includes a vehicle temporarily left un-garaged for less than 24 consecutive hours on the residence premises. Also, the vehicle may be located at a temporary lodging of the named insured, however this does not include a residence premises of the named insured.

The way I read this is if I was washing my car in the driveway and someone put a gun to my head and then stole the car they would not cover it. Same if it caught fire in the driveway, tree fell on it or any other incident that happened unless is was parked in the garage at the time. The guy I spoke with said I wasn't the only one that had called about this issue and this new line in the policy was to cover folks that hadn't been keeping their car in a carport or other non-enclosed structure. I could understand that if "less than 24 consecutive hours" read "more than 24 consecutive hours" maybe it's just a typo. He said that the underwriter/company would send me a better explanation via email, that was a week ago and I haven't seen anything yet. I need to either renew this policy or go with another collector car insurance agency.

Am I reading too much into this or does it really now mean what I think it does....? Anyone else seeing this on their policy....?

Brian

 

They really, really don't want you to keep the car in your own driveway! Odd exclusion. It's very poorly worded or else they are trying to exclude something without thinking of the other more common scenarios. I guess parking your car in the driveway was originally allowed under pleasure use...? So if my car gets past that 24 hours, it's fully insured under the pleasure use rule. Very odd.

 

Call them and tell them to clarify, then switch to Hagerty

 

Brian, thanks for taking my call. See the below explanation from our carrier:

We use to have garaging exclusion in the previous policy which would ONLY allow the vehicle to be ungaraged for less than 24 hours. During claim situations, adjusters found it difficult to officially validate the 24hr max timeframe. Therefore, claimants stories were commonly changing and we ultimately were paying the claims. Secondly, some customers were leaving their cars ungaraged for good reasons. For example, they were having construction or renovation on their garage.

To summarize, yes, we still strictly underwrite the vehicle being stored in a locked garage when not being used. The garaging exclusion and 24hr ungaraged allowance was removed from the policy because 1) its hard to validate 2) some situations make sense for a vehicle to be ungaraged for a limited time.
Let us know if you have any questions.

Thank you!

Adam

 

So this means you cannot travel overnight anywhere, to a car show for example, and stay at a friends house or hotel. You wouldn't be covered? It's confusing to me too.

 

100% NO, that is NOT what it means.

It means that in the former policy if you left the vehicle outside of the garage while at the residence (driveway) that the vehicle would potentially not have coverage.

On this new policy, that exclusion is no longer there and coverage would be in place while at your residence.

 

. No one should have to spend so much time figuring out policies wording ,
How much cash are you actually saving with this Co? IMHO,, Your time is likely worth more than your savings, and you'll have more peace of mind that your covered 100% of the time with a different policy,,

It brings too too many questions!!!

 

 

We can rewrite it with Hagerty. We are able to write the Hagerty program as well.

 

I'm guessing if you read the fine print on any of these collector car policies there will be questions.....? I'm pretty satisfied with the response I got from Adam with NCM. That said if I can get better coverage for less with Hagerty I might be interested. I saved $50-$75 when I originally moved to NCM.

Brian

 

I just sent you a Hagerty Quote. It is almost double what you are paying now.

 

Thank you for the explanation, Adam. Your second reply above is clearer and actually tells me that the policy has loosened the exclusion wording over the previous. I didn't get that at all from the original copy/paste of the wording by Wee - or even your first reply.

I appreciate you occasionally adding info to these types of threads; no other insurance broker has done that in my experience and that speaks to me.

 

when it is in the garage it is covered by your homeowner's insurance. that is why everybody insists on you garaging your collector car. they don't give a damn about rain-snow-bird crap...

 

The very very very first thing they teach in insurance school is that a vehicle is not covered by homeowners insurance. This is absolutely, 100%, inaccurate.

 

 

Well apparently I can't sent a PM to a vendor and I don't have facebook/instagram (never will, they are farming your data) and I don't want to ask the question publically. So I guess the question I had about a recent experience with Homeowners insurance and the payout of assets vs vehicle insurance will go unanswered.

 

We used to get a ton of PMs that just said "how much?" or wanting to make policy changes through PMs.

Shoot me an email if you would like, info@ncminsurance.com.

 

this is completely untrue. its literally 100% the opposite. a homeowners policy will almost NEVER cover an automobile