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Collector car insurance?

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  • Bastosbill
    replied
    Just be aware that you are paying for a "stated value" policy, and not an "agreed value" policy.

    Big difference, and likely the reason your premiums are less.

    Cheers,
    Bill

    Leave a comment:


  • ssaylor
    replied
    Not much activity on this thread but here's my story for a new to me 1990 M3. I did get a quote from Hagerty, $650 as I recall. I ended adding the car to my Hartford policy as a collector car (smog exempt in AZ) with a stated value of $35k for $450/yr. My 325is is insured the same way with a stated value of $7500 for $400. If you're 55, check out the insurance thru AARP.

    Leave a comment:


  • Bastosbill
    replied
    I thought I would add another data point to this thread.

    I have my car insured with Hagerty as well. Grundy wouldn't even speak to me as the car is "modified", although I'm a little *miffed* that they call it that. All I have done is add DTM/Evo parts to take the car back to it's original manufactured "purpose"! It was built as a race car right?

    $30,000 agreed value for now, premium is about $600 a year. No milage limitations, but the usual "about 3000 miles a year". However, if I want to take the car across the country to one of the 'Fest's I just have to call them and let them know what I'm doing. I like that flexibility in the policy.

    Obviously, if I stuff it on the track it's a complete write-off, but that's the risk most of us take now anyway.

    Cheers,
    Bill

    Leave a comment:


  • B Marques
    replied
    AAA requires 10 yrs of driving experience. that blows

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  • monzon
    replied
    Just went to AAA today to get photos taken for a quote.

    Leave a comment:


  • ///schwartzman
    replied
    AAA coverage has worked for me on a few occasions even paid off a car that was stolen from my house in @ 45 days. And go figure the first week I took the car to work a lady backed into me in a parking lot... I get to choose where it gets fixed and the option for all new parts. All I did was provide 'comps' eBay, NADA, KBB, and receipts from my motor build (thanks Jeremiah) to establish $25,000 agreed value.

    My AAA collector car policy is $195/yr. with one ticket on my record, they said it will drop to $140/yr. when the ticket falls off.

    Modifications are allowed and were added to a worksheet for coverage.

    Limitations:
    20 years or older and/or limited production
    Stated mileage 2,500-7,500 mi./yr.
    Not used as primary vehicle

    Leave a comment:


  • BingM3
    replied
    I cannot remember the website to see insurer's company ratings but you can search, ask them who they have the policy with, then go from there. Anything A+-, B+- should be fine.

    Leave a comment:


  • B Marques
    replied
    Originally posted by alpine003 View Post
    Has anyone had any claim experiences with any of these collector car insurance companies? Companies are easy to take your money but some can be hard to deal with if an accident happens.

    TIA
    i want to know the same.

    Leave a comment:


  • klm1
    replied
    what about canadian insurance?

    Leave a comment:


  • allmotorking
    replied
    I just looked into changing my policy over to AAA and the rep told me that they valuate the worth of their insured vehicles not at blue book value but at what the going price is for a similar vehicle in your area. This is a good deal if your car is fairly stock. I should have inquired about clarification on this and how it pertains to modifications and upgrades.

    Leave a comment:


  • BingM3
    replied
    From American Collectors:

    Vehicle Qualifications
    In order to offer our customers outstanding protection at affordable rates, vehicles insured through our program must meet the following requirements:

    At least 15 years old or older (25 years in MA)
    Kept in a fully-enclosed, locked garage
    Driven for pleasure only, and not for general transportation

    Leave a comment:


  • thizzelle
    replied
    Anyone here use Grundy insurence they seem to have best rates, please let me know what you think.

    Leave a comment:


  • Narayan3
    replied
    Originally posted by e30m3power View Post
    Yes but in the event of an accident how will they differentiate the two.

    I'm asuming there must be some kind of process they go through to prove you weren't driving it to the food market.

    I would be a little afraid of that. if it happens to be on the a nice saturday and you decide to take the bimmer to the mall or something, are you covered if something hapens?
    That is true! But it will be up to them to prove that I hope! I don't plan on finding out... Also I drive my car out of the garage and the only time I get out of it is when I'm back in my garage, except when I stop at a gas station. So I'm not too worried.

    In the past, the few times I've driven it to a mechanic shop or something I've called them ahead and notified them first and they have had no problem...

    Leave a comment:


  • alpine003
    replied
    Has anyone had any claim experiences with any of these collector car insurance companies? Companies are easy to take your money but some can be hard to deal with if an accident happens.

    TIA

    Leave a comment:


  • e30m3power
    replied
    Originally posted by e30s4evr View Post
    There's no mileage limit with Grundy. I just can't drive it for errands and commute...

    Yes but in the event of an accident how will they differentiate the two.

    I'm asuming there must be some kind of process they go through to prove you weren't driving it to the food market.

    I would be a little afraid of that. if it happens to be on the a nice saturday and you decide to take the bimmer to the mall or something, are you covered if something hapens?

    Leave a comment:

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