If the policy limits a person to 2-5 thousand miles per year, how is this proven, monitored ? How and when would a person have to verify miles driven for the year?

If the collector car policies are OK with" pleasure drives," why don't the policies state "can be driven when ever policy holder wants"?

Every time I pull out of the garage it's a pleasure drive.

 

Very good questions. You will not get a straight answer though. The ambiguity is in their favor. Dan

 

Every 6 months State Farm used to ask for an odometer reading.

You may or may not be asked ea yr when renewing a classic policy what your odometer reading is
Glad they dont ask me as mine hasnt worked for the last 20 yrs.

 

The mileage issue would only come up with NCM if you made a claim and you were over the mileage.

So I put the 88 on NCM at like 127K, and 3K a year driving. If I had a wreck two years later and was over 133K at that time, then they may not cover. They don't call to check, and it only comes up if you want to change something, they'll ask the current mileage.

 

It is actually an extremely straight answer.

As others have mentioned we have your starting odometer. If there is an accident our claims will receive an odometer reading.

Using simple math, you start the policy with 10,000 miles on the odometer and you have the 3,000 mile plan. At the end of year 1 you should be at 13,000 miles or less. Year 2 you should be at 16,000 miles or less. Year 3 you should be 19,000 miles or less.

 

Thank you Adam. Can you please answer his second question also. Dan

 

Sorry, collector vehicle insurance is different than standard auto insurance. There are usage guidelines, and attached you will find the collector vehicle policy overview.

 

This is the sticking point where we won't get a real answer. All policies (that I've seen) state they don't want you to use the vehicle for everyday use driving to places like: work, school, errands, shopping, etc... On one website, I actually read "We want you to be able to take your car to work -- to show friends, or to drive it and enjoy it." By contrast, they also want to make sure owners aren't using these low-cost policies to insure the same level/type of driving you do with your "other cars".

On the surface we might think (and know) we'll treat these car differerently than our "daily sedan". But there may be other risks -- because it's a higher performance car. They can't sound like it's OK to take more risks (driving style/speed) and they can't allow the same "risk" as a normal policy. Otherwise, you should PAY for that -- based on actuarial calculations used to determine "normal car" risk and rates. So....they need to encourage and state they are wanting you to drive it more carefully (at least as-if you only took it to shows) like a collector would treat a car owned purely as an investment.

It doesn't matter how you want to drive and how you treat your Corvette, they are other "bozos" just waiting to run into you. That risk is higher in parking lots, intersections, and places where vehicle paths cross. They know that and want to take every precaution THEY can to limit their liability. That helps avoid paying claims where it looks like you're not taking extra care -- to earn the right of a lower-cost "collector" policy.

The biggest question is: What is a collector? Some rich people buy cars as an investment -- to acrue value over time. Others (like most of us) may consider ourselves collectors by driving it less or keeping it longer than a "normal car". If you sat down and tried to think of verbage to describe if/how your collector car insurance policy should read, you'd probably have a hard time. To me, you'd think anything should fly as long as you have a "primary driver" insured by a traditional policy AND....you don't race it.

Even with that said, I suspect Auto-x-ers think their hobby is pretty darn safe considering they are in parking lots with safety cones. But, it's probably not covered there either. The point is to keep you driving the car safely and away from others -- and SHOW it to others. You know....OOGLE IT! LOL

Remind me again how often how often members of this forum have made fun of "garage queens" owners over the years!