f355bird

iTrader: (2)

This summer i should be finishing up my firebird to have it in tip top shape. Im concerned if i was to total it or it get stolen im screwed. I drive the car about 2,000 miles a year it is just my weekend car. I know blue book is probably around 2K for it but i have over 15K in it. What insurance compaines will deal with a newer custom car. I know there are plenty of newer show cars that have collectors insurance on them. Who do u yall recommend and where should i take it to get appraised?

cdartz

Grundy or Hagerty come to mind.

91blkta

www.condonskelly.com phone 1-800-257-9496
www.jctaylor.com 1-800-345-8290
www.americancollectorsins.com 1-800-257-5758
www.classicins.com 1-800-397-0765
www.grundy.com 1-800-338-4005
www.hagerty.com 1-800-922-4050

I work for an insurance company and these are one's we recommend to people with cars over 10 years with lots invested
Not sure what states they insure in but with the info I provided you should be able to find out. I'm sure they can recommend an adjuster or have a method for rating your vehicle. Thats the most overlooked thing when people put lots of $$ into a old car. With most companys your only going to get acv. They don't care you have 15,000+ dollars in parts and work.

FrankieRider2

I have had both of my '88 GTAs insured with Grundy Worldwide for three years now, and I have been pleased so far. Each car is insured at $15,000 actual cash value, and the restrictions are not very severe.... no daily driver, no racing activities, and the vehicle has to be stored in a shop or garage. That's about it.

There are no mileage restrictions, and the cost is about $470 per year for both cars for full coverage. If you don't have to use your car every day, I would recommend this type of insurance highly.

In the event that something happens to your car at the fault of another party, I'd suggest having it appraised by a certified appraiser to help protect your investment.

85 T/A WS6

I use American Collectors, no appraisal needed, $125 yr for full coverage.

You tell them how much your car is worth to you and they charge accordingly. All they ask is for a photo of your car.

I have a 1500 mile a yr restrcition and it must stay in the garage, these things I do anyway.

Cadillac

I would like to read about why someone would need to do this understanding the relationship I have with my agent and the coverage parameters with my policy.

With State Farm I asked them about the fact that my car was booking under 2K but I had well over 7K invested. Also, I do not put over 3K miles on it each year. My agent explained that this was not a problem provided I kept receipts for the work I had done, maintained a good record of the shape the car was in (I am doing this with digital pictures) and I let my agent see the car every year for renewal so she can verify it is as nice as I claim in the documentation for the policy.

In essence, I asked for a policy on a "stored car" (under 3K miles a year or something like that) with a confirmed value of 7-8K. No problem. I would assume State Farm could have done this if the value was twice or even three times that value. I could be wrong.

CaptPicardsZ28

I haven't looked into this much either but I know Ican't use grundy etc.cuz I am not keeping the car in the garage. I drive it daily to work and back,but I only drive it 4K miles a year. It's insured to drive 7500 miles a year but I have as yet to get it valued at what I have into it. I will check with state farm tho.

cc 82Z-28

iTrader: (7)

I use Nationwide Ins. for all my vehicles and for my 82 Z-28 I have an agreed policy amount on the car since it is collectable car now. I too drive it about 5-6 months of the year when the weather is nice and usually only to cruises and shows and is stored in the garage. I went to an appraiser about 3 years ago and found out that I too had way to low an amount for replacement value on the car. The appraiser said my car was valued at 17,300.00 which took me by complete surprise, I only had 6500.00 on the car at the time. He said I wouldn't necessarily be able to sell it for that but this is what it would cost for replacement given what I have done to the car and besides, I don't plan on getting rid of the car since I have owned it now for 21 years.

Cadillac

Maybe that is the key: Get an appraisal.

a mack6

iTrader: (1)

What should i do about insuring my car... Its a heritage edition RS w/ 45,000 miles and in absolutely stunning shape. NADA considers the heritage RS a classic already and it books in at NADA at around 10-13 grand depending on how you rate it. Now i hate to say it, but *** forbid something happen to the car, i doubt my insurance company would give us that much.

The car is my daily driver, but i expect to put between 6,000-7,000 miles on it a year (no winter driving). As of right now, its not inside, but my dad plans on building a garage, hopefully in the near future...

Any reccomendations as to how my car should be insured???

okfoz

Some insurance companies will let you put a stated value on a car. However you pay higher premiums. If you insure the car like I do I put insurance on it and take insurance off of it when I am not driving it.

For example. In the winter time when I am not driving my car my premium is only $100 a year, and in the summer I put full coverage on it and its about $700 a year. Since summers are reasonably short around here I usually end up paying about $350 a year. If I choose not to drive the car in the summer it would not cost me more than $100 to store it.

As far as stated value, get an appraisal, they are about $50 to $75 and well worth it. It gives you some more leverage with the insurance company if they question your "value"

John

85 T/A WS6

IMHO, get a policy where YOU decide how much your replacement value is, dont waste time or money on an appraiser, from what I read so far the figures they come up with are unrealistic anyway. They really seem to be in the ego inflation business, if they gave low appraisals they would not stay in busisness (another unsubstatiated opinion )

Nice Heritage, dont let this happen to it.

okfoz

My point is you state how much the car is worth, AND you get an appraisal. Its just an extra card in your hat. Otherwise the Ins company can cry fowl.

If you say the car is worth $14,000 and the appraiser sais its worth $20,000 thats better for you when you argue with the Ins company. If the appraiser sais its worth 10K and you say its worth 14K, then it might hurt you. But if you can afford a 20K car I think the $75 is peanuts.

John

FrankieRider2

I was just suggesting the appraisal for dealing with another insurance company.... i.e. you are involved in an accident that is someone else's fault. The appraisal should help in negotiations with the insurance as to the value of your car before it was damaged. It should help prevent you trying to be low-balled on your car's value.

If something happens to my car that is my fault or otherwise covered under comprehensive insurance (fire, weather, etc.), then they write me a check for $15,000.... no questions asked.

I submitted the photos of the cars along with photos of my shop when I applied for coverage. They agreed with me on the values and then issued the policy. A pretty simple process....

gearhead0384

iTrader: (7)

What restictions are there on it when you do drive it, is it only covered to and from car shows and/or from a mechanics shop? Also you can not take it to the track at all?

Kevin

FrankieRider2

Kevin, I was told that I "could drive it and enjoy it as a collector car whenever I wanted to".... it could just not be driven every day as a primary vehicle. When I applied for coverage, they wanted the tag number of both cars, and the tag number for my daily driver as well for their files.

The policy states specifically that any/all racing activites of any kind are excluded from coverage on the cars' policy. Pretty cut and dried....

WILL85IROC

thanks for the insurance info, i was also wondering what was covered....

89raggtopp

I have State Farm Insurance and all I did is ask them which appraisal company they would accept. They gave me the name of a local co. I took as many docs with me as possible (Aug 01) and they appraised the car at $16000 cash value. My insurance premium with State Farm did not increase and if the car is totaled or stolen they would cover it up to $16000. Try this first.

FrankieRider2

Apparently this is something new through State Farm and other insurers; I too have heard of this new style program they offer. I used to be with SF ($1800/year for the two GTAs) and when I pitched this Grundy insurance to them, my agent told me it was too good of an offer to pass up. At that time, SF only had "standard" insurance.... my agent told me I could always switch back to SF if I was dissatisfied. So far I haven't been.

But I'd tell anyone to check first with their current insurer to see if they offer a collector car-style policy.

scottmoyer

Most insurance companies do have a collector policy, however, the car needs to be of collector age. If the car is not of age yet and you want it insured at a higher amount, the insurance company will do this but at an increased price.

For example, my 93 Pace Car was pulled from Grundy last year as my wife started to drive it. Grundy had the car insured for $240/year, $20k coverage. Allstate in FL is charging me about $480/year for full coverage but at Blue Book Value. KBB gives no credit for the car being a Pace Car so it shows value at $6150. NADA shows the value at $18k-20k, but the insurance company uses blue book today, not NADA. To get $20k coverage, I needed an appraisal, pictures and a stated value policy. This coverage brings a premium of ~$85 more a year. Compare the prices now...$565 vs. $240.

Standard insurance will cover the car, but at a higher cost than Grundy will. It also allows me to drive the car every day to work and whatever if needed. The car will be going back on Collector policy soon!!

82 S/E WS6

$167.00 a year with hagerty for full coverage & maximum limits.

91blkta

Thats not to bad what kind of value? on the car (82 s/e ws6)

82 S/E WS6

It's at 5K agreed value right now, but im going to bump it to at least 10K at the next renewal. The premium wont go up much at all, about $75.00 so under $250.00 a year and thats with higher limits than they show available with their online quote.
$250/500/100 liability, the same limits for under/uninsured & $35K pip/medical.
They will match the coverage you have on your daily driver with another ins. company but will not go higher.

Adding a 2nd car is very cheap, $18.00 more per year to put my 78 Caprice Classic on the policy with the same $5K value.

A standard Ins. company would pay a lot less in a total loss/theft situation going by "book" values.
When your your 3rd gen turns 20, give them a call. 85' and back no problem, later limited/special edition models should be ok too.

Cadillac

Hagerty's "Get a Quote"

Do not even bother with a post-'85 car. Any category: Stock, Modified or Exotic.

Humbug.

82 S/E WS6

Anything less than 20 years old is rejected by hagerty's online quote system, but if you call their 800 number and talk to them I bet they would cover your 91 vert, verts are in a class all by themselves

When I tried the online quote system for my S/E, it was 19 years old and rejected. But when I called them up and explained how "special" I thought it was they agreed to cover it.

86' and later is on a case by case basis and they are not hard to convince if you do have a car that is not "common" an 88 T/A plain jane standard production model they most likely would not cover, at least not for a couple more years.

red87iroc

Hagerty WILL cover newer cars (I have a 94 TA insured with them).

Just call the 800 number, you will have to have it insured as a "modified" vehicle. They are, however, picky about what "newer" vehicles they will insure in this manner.

Not sure, but maybe I got this treatment since I have been a customer with them for a while.