Insurance

[Scooter76]

Forgive me if I am asking this question in the wrong forum.
Does anyone have any experience with classic car insurance companies? Grundy's for one. I just got a quote for agreed value coverage ($15000) for my vette for about $127 per year. My car is not my daily driver & is garage kept. They have no mileage restrictions as some other companys do. Just sounds too cheap. Any input will be appreciated.

 

[jonstr]

It's been a while since I researched this, but one thing I recall is that you really need to understand what, when, and where they will cover you, and how that relates to how you would like to drive your car.

For example, I recall that one of the companies had no annual mileage limit, but they did have significant limitations on how you could use your car. You could only use it for shows, parades, car events, etc. For me that was no good because I like to occasionally take mine out for a leisure drive or to run an errand (only to places I'm familiar with and know there is good, open parking, of course) or maybe even to work once in a while. For my usage, I felt like they were too restrictive.

The other thing I didn't like at first is that you were required to carry full coverage at all times. You were not allowed to drop collision and liability for the winter or if you were taking the car off the road for an extended period of time. Of course, the lower rate you are paying when compared to a 'regular' insurance company may offset that. Plus that was a bigger deal for me when I lived in Illinois and I parked my car for the winter than it is now that I'm in Arizona.

I ended up going with Great American at the time. They had mileage limits (several levels), but did not restrict where, when, or how you could drive your car. I've never had a problem with them, but then I have also never had to process a claim with them either. They do require that you fully insure the car year-round, but the rates can make up for this.

Later,
Jonstr

 

[mytoy]

insurance

I am with Hagerty not sure if that is the right spelling, I have been with them for about eight years I have my vette and my 68 mustang with them never have had a problem, a friend recomended them to me he was insured with them and had a accident was very satisflied with the way they handle the claim Mytoy

 

[billybob]

I'm using a company called silver wheels, great outfit, drawbacks to some would be... you have to have had a drivers license for at least 10 years, your car is 20 years or older and you carry insurance on another vehicle not with them.

There are no restrictions, I can goto the store .. sunday drives whatever, but they assume that for the grunt work driving you use your other vehicle.

3 cars with them 217 CAN $ a year even my little beat up 75 is covered for 25k

Bill

 

[Tom73]

Have three cars with Hagerty. Great company. But you must remember their restrictions and abide by them.

tom...

 

[smurfvet]

I have a policy with J.C. Taylor that has the mileage and "general use" restrictions- don't take it out as a regular driver, etc. The followup for the yearly insurance cards is poor, and the company seems a "little overbooked" or has too few people in the office. I dealt with the company directly for 20 years, with no problems. In the late 90's, they seemed to slow down. Now I go thru my regular car insurance agent and let him yell at them for the insurance cards.

I might be looking at other opportunities based on what I read here.

 

[irf]

I just signed up with Haggerty. I've heard great things about them from a lot of Vette owners.

 

[Tom73]

I'm with American Collectors Insurance, $120 a year for 15K agreed value, 2500 miles, no deductibles, full replacement cost!

Not bad. Just ran yours through the Hagerty on line quote and it came up with $152/year. That also for 15K agreed value, no deductibles, full replacement, but with no milage restrictions.

tom...

 

[itilldo]

Just got done looking for insurance for my vette. Man, am I really disappointed with Grundy, American, Leland West and Hagerty's.

I have a '94 vette with full ground effects. No dice on insurance, if it isn't full factory stock, they are not interested. It is a beautiful car, well done, nice stripes, etc. Perfect driving record, no tickets, no accidents, 45 years old.

Seems thatthey are only interested in corvettes with appreciating value. Ironic that most of these policies are for agreed value, meaning that if you insure your car with them for $25K, have an accident and total car, it appreciates in value, that you are going to get $25K for your $30K Vette. So, in my short experience in reviewing and dealing withthese companies, about 13 pages of information to each one each time you submit, be aware of what you are getting.

With Leland, they had my information for 8 days, I called them and then they told my that my car did not qualify, only after they had pics of car the entire time. Seems like someone wasn't paying attention.

Hate to go on, but my vette is still sitting in the garage for the last 4 weeks with no time on the road and this is getting a little frustrating. Just thought thatthis info might save others some frustration.

So, if anyone can help or have any ideas, please let me know.

 

[Driftwood]

I drive mine almost daily so I didn't look into any special insurance. I just added it to my State Farm auto insurance. They just wanted to know the value to insure it for and have a few pics for their record. It added about $120 yearly.

 

[fasterthanu]

I have state farm, full coverage, $25K on mine, for $128 a year, and I am 24. They have no mileage restriction. You can go out for cruises on a nice night with no hassels =P

 

[Tom73]

Just got done looking for insurance for my vette. Man, am I really disappointed with Grundy, American, Leland West and Hagerty's.

I have a '94 vette with full ground effects. No dice on insurance, if it isn't full factory stock, they are not interested. It is a beautiful car, well done, nice stripes, etc. Perfect driving record, no tickets, no accidents, 45 years old.

Don't know about the others but for Hagerty's it is too new. They insure classic/collector cars, not new cars and not drivers. Your '94 is way too new.

Seems thatthey are only interested in corvettes with appreciating value. Ironic that most of these policies are for agreed value, meaning that if you insure your car with them for $25K, have an accident and total car, it appreciates in value, that you are going to get $25K for your $30K Vette. So, in my short experience in reviewing and dealing withthese companies, about 13 pages of information to each one each time you submit, be aware of what you are getting.

That is why you need to keep up with the value of your car and update your policy as needed.

tom...