Insurance Question - Woes.
Thread Starter
Melting Slicks
Joined: Jun 2009
Posts: 2,343
Likes: 4
From: Anderson SC
Insurance Question - Woes.
OK.. now that my '68 is road worthy. I'm running into an insurance issue.
Hagerty will not underwrite my car because there are TWO licensed drivers in the house and we only have ONE other car (a Grand Marquis).
Hagerty will not take into account that (1) My wife is disabled and rarely uses the car anyway, (2) That I have a motorcycle available for the rare times that I need to go to the store and she does have the car.
So..... does anyone know other options to get relatively cheap coverage on a limited use antique vehicle?
Thanks!
-W
Hagerty will not underwrite my car because there are TWO licensed drivers in the house and we only have ONE other car (a Grand Marquis).
Hagerty will not take into account that (1) My wife is disabled and rarely uses the car anyway, (2) That I have a motorcycle available for the rare times that I need to go to the store and she does have the car.
So..... does anyone know other options to get relatively cheap coverage on a limited use antique vehicle?
Thanks!
-W
Race Director
Joined: Nov 2006
Posts: 19,445
Likes: 353
From: Athens GA
St. Jude Donor '12-'13, '15- '16-'17-'18-'19, '21
OK.. now that my '68 is road worthy. I'm running into an insurance issue.
Hagerty will not underwrite my car because there are TWO licensed drivers in the house and we only have ONE other car (a Grand Marquis).
Hagerty will not take into account that (1) My wife is disabled and rarely uses the car anyway, (2) That I have a motorcycle available for the rare times that I need to go to the store and she does have the car.
So..... does anyone know other options to get relatively cheap coverage on a limited use antique vehicle?
Thanks!
-W
Hagerty will not underwrite my car because there are TWO licensed drivers in the house and we only have ONE other car (a Grand Marquis).
Hagerty will not take into account that (1) My wife is disabled and rarely uses the car anyway, (2) That I have a motorcycle available for the rare times that I need to go to the store and she does have the car.
So..... does anyone know other options to get relatively cheap coverage on a limited use antique vehicle?
Thanks!
-W
One cheap option - buy a winter rat and insure it. Just as thought.
Good luck
Bman (Dennis)
Drifting
Joined: Aug 2005
Posts: 1,443
Likes: 65
From: Wauconda IL
There are tons of collector car insurance companies out there and you only asked the one?
I have American Collectors and they never asked how many drivers or other cars were in my household.
You declare the car to insure and the authorized driver(s)- End of story.
If you have an accident and someone else is behind the wheel other than who is stated on your policy, that's your issue- The insurance simply won't cover the claim.
Check elsewhere.
Elm
I have American Collectors and they never asked how many drivers or other cars were in my household.
You declare the car to insure and the authorized driver(s)- End of story.
If you have an accident and someone else is behind the wheel other than who is stated on your policy, that's your issue- The insurance simply won't cover the claim.
Check elsewhere.
Elm
Thread Starter
Melting Slicks
Joined: Jun 2009
Posts: 2,343
Likes: 4
From: Anderson SC
All I knew about (from reading here) was Hagerty.
So keep the suggestions coming please.
-W
Last edited by Clams Canino; Apr 19, 2012 at 12:51 PM.
Race Director
Joined: Jun 2000
Posts: 10,036
Likes: 667
From: FL
Call Adam at National Corvette Museum Insurance.
http://www.ncminsurance.com/
They got me a policy underwritten by American modern Insurance Group. Very reasonable rates and I can drive my car to work a couple of times a week.
http://www.ncminsurance.com/
They got me a policy underwritten by American modern Insurance Group. Very reasonable rates and I can drive my car to work a couple of times a week.
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Team Owner
Joined: Jan 2006
Posts: 37,637
Likes: 3,114
From: Crossville TN
I have Hagerty...but check with the NCM insurance (National Corvette Museum) that is now available. At least, just to see if they will write you a collector car's insurance policy on it. They are a sponsor vendor on this Forum, I believe, and several Forum members have gone with them.
Drifting
Joined: Jun 2006
Posts: 1,912
Likes: 12
From: Schaumburg (Chicago) Illinois
I have the supposedly expensive State Farm. I have 3 other regular drivers. I think the key is that my 68 is insured together with the regular drivers. The adder for the 68 is about $100 per year. That's for both liability AND collision. Although I haven't renewed it in a few years due to the frame off. That in itself is probably stupid because if it disappears I am SOL. I need to call my insurance guy.
Intermediate
Joined: Mar 2012
Posts: 38
Likes: 0
From: Broussard La
Ive been wondering the same thing...Im 44 and have a 82 and just Liability on it is 1200 a year. Does this seem High? It does to me but Geico and others are around the same. I dont drive it alot but dont want to have to watch mileage all the time either should I check out some of these Insurance companies yall have mentioned? thx
Racer
Joined: Jan 2007
Posts: 427
Likes: 1
The insurance is based on 'who would might be driving' the car. Knowing the licensed drivers in the home establishes the calculated rates. As the insurance company would not know for certain who would be driving the car, they would want to know all the drivers of the household for rating information to determine the premium.
I would work with your agent/broker and tell them all details about the car and who will be driving it. 'ezobens' nailed it. This may create an endorsement that you will be the only driver but that would be useful in the ability to calculate the correct premium and provide insurance for liablity and coverage in the event of a loss.
Be up front and ask lots of 'what if questions'. It is always a poor time to learn how insurance works after a loss.
I would work with your agent/broker and tell them all details about the car and who will be driving it. 'ezobens' nailed it. This may create an endorsement that you will be the only driver but that would be useful in the ability to calculate the correct premium and provide insurance for liablity and coverage in the event of a loss.
Be up front and ask lots of 'what if questions'. It is always a poor time to learn how insurance works after a loss.
Team Owner
Joined: Jan 2006
Posts: 37,637
Likes: 3,114
From: Crossville TN
You cannot compare collector car insurance with the standard family car policy. They are two entirely different things. Specifically, the family policy WILL NOT provide you with "Agreed Value" insurance for a 40 year-old car. Thus, if you total it, that car will be valued at the "Black Book" (average wholesale) rate...about $2000 for a 1970's-80's car.
Do your research so that you know the difference. Or, do like many have done: buy the cheap stuff; then total your car; THEN find out that you don't get any money back.
P.S. And, if you know that you aren't going to have a 'total loss' accident...why buy insurance in the first place?
Do your research so that you know the difference. Or, do like many have done: buy the cheap stuff; then total your car; THEN find out that you don't get any money back.
P.S. And, if you know that you aren't going to have a 'total loss' accident...why buy insurance in the first place?
Race Director
Joined: Sep 1999
Posts: 11,360
Likes: 382
From: Plano TX
That said, collector car ins with agreed value is still much better.
Melting Slicks
Joined: Aug 2008
Posts: 2,200
Likes: 3
From: Lehigh county Pennsylvania