Insurance questions
 

OK..So I don't get a total shock, or get myself into trouble,when it comes to insurance, I decided to ask the members for any suggestions. Now I have been told by my insurance agent, who has been great, that maybe I would want to consider an agent who specializes in classic cars, before I insure my vehicle.

I know that when it comes to classics that the insurance companies base your insurance on many different factors, how many miles you drive, your appraisal and more.

I would love to hear any suggestions, good insurance company stories and even the bad.

Thanks for your input..
Nancy

Hagerty is one good choice. You tell them how much you want it insured for and they give you a price. They'll want a few pictures to see that it's close to what you say and to make sure it's not a race car. They don't care about mileage but you must have another vehicle to drive. It can't be used as your daily driver to and from work. Also must be kept in a locked garage. I pay around $250 for $25,000 coverage. If you get vintage or historic plates that saves you either $80 or $100, can't remember which. I here Grundy's is another good choice for classic car insurance.

I use Shelter Insurance which luckily has their own line of classic car insurance. So I added it on with my truck and I get a multi car discount. I have an agreed value of 15,000 and collision repair to the same amount. It only costs me 150 a year on the Chevelle. I think I have a mileage limit of 7,500 miles a year but that's not a problem for me. Like Hank said, the car has to be kept in a locked garage and I have to have another vehicle registered and tagged. I also had to take the car to the insurance office so they could take pictures of it.

Did you have to do anything special other than supply a picture? Did they want the appraisal?

Hagerty is great and if you have a claim its easy,ask me how I know.

There are the 2 big guys, hagerty and grundy. They insure lots and lots of classics. You tell them how much your car is worth, and they insure it for that amount, no questions.

There are other policies where you even though you pay for a specified amount of value/coverage, it is still up to the adjusters to determine what your vehicle is worth, regardless of what you have it insured for...except for the fact that they will never pay out more than your named value. Obviously, these are less desirable. Some companies won't/don't insure classics.

I've used Hagerty for years...:cool:
http://www.hagerty.com/

No appraisal required for my car. I imagine if the insured value was high enough they would want an appraisal. They asked for engine pic, inside pic and I think, one outside pic.

You can go to their site and get a quote online.

Forgot about that. It's good to talk to an agent too, they really do look out for you and give you good advice. Like get vintage or historic plates and save a few bucks. They have restrictions here in MI on those plates, like driving to or from a a show or cruise in, that's it. Agent suggested printing out a list of all the cruises in the area and keeping it in the glove box. If the police pull you over pull it out. Let's see, today is Tuesday, I'm going here! Honestly, that's what she recommended although I've never been pulled over for having vintage plates.

I'm a Hagerty believer. They covered my car before it was finished. Grundy would not.

thought id revisit this thread. We are making some calls getting prices.

A quick quote from Haggerty, was 570.00 for 25 grand.

I've always thought about getting classic car insurance but the price always worried me. The last one I added to my Insurance was a '67 XR7 Cougar and it only added $87 for the whole year; It's not full coverage, it just coverage for the other cars/people but figured I could start a car fund with the extra money I was saving and they couldn't limit my driving or put restrictions on me. I hoped if I got hit the other person's insurance would cover fixing mine (fingers crossed). Since my new car is a camino they would most likely total it for $9500 regardless of how much I have into the car, so when I insure this one I'll just do the same.

With Michigan's goofy car laws, or rates are in the top five highest, in the country.

Even so I was pleasantly surprised with the 500.00 quote.

$570, I paid $225 with Hagerty for $22k insurance. I do have year of manufacture plates, like historical plates that saves $80 to $100 a year unless MI has changed the law on that.

I'm with Hank, I use Haggerty and have my car insured for 25K and it's about $230.00 and I have 1969 plates...I'd say 500 is way to high

The YOM plates are the reason for the price difference. Technically your not supposed to drive anywhere with them, only reason I can think of the difference.

Another thing I like about Hagerty is they are car people too and they know their cars.

No,YOM plates will only save $80-$100. You don't pay the full mandatory catastrophic injury fund rate. You're right, technically they're like historical plates and can only be used during or to and from an event. Never heard of anyone being pulled over for driving with them. Besides there is cruise or show everyday of the week. The Hagerty agent suggested keeping a list in the glove box. If the police do question you, pull it out and say I'm going there.

I was also told you can say you are taking it to a mechanic or shop.

Our POS govenor is trying to get that changed. She wants us to have to renew every year. SEMA sent me an email, stateing it looks like the vote will be in Nov. Contact your rep and voice your displeasure with this Bill. I can look up the bill number if you want.

Not to hijack this thread but between cars and trailers I have 8 vehicles that I insure ..... it pisses me off that the insurance companies feel a need to insure the vehicles and not the drivers ..... something is wrong with the system in that we can only drive one vehicle at a time. .... there, got that off my chest!