Does it seem more expensive than regular insurance? I'm afraid if I was to get into a wreck my insurance company would decide to just total the car rather than rebuild. I asked them and we went in circles for an hour, They won't say what they would do, they would only make that determination at time of accident.

 

Did you have it appraised? If so that's the value that you'll fight with them over, but 9/10 they're gonna just want to cut you a check and total the car.

It looks like Geico also offers a service towards collectors type cars. May be worth checking with them.

 

There is definitely a market for insuring antique vehicles 25+ years old. The process is you get it appraised, and they insure for that amount or something along that line. That way if something occurs, they pay, and don't total.

There are several companies that do this, a friend of mine who was in the ins biz had a friend who did this years back. I'm curious if anyone around here is actually doing this, to get better details of the process of if it is reasonably priced. I think one of the caveats is you don't drive it much. less than x miles per year.

 

That's why you get a collectors car ins. co, and you get a "agreed value" policy, they all have them, Haggerty, Grundy, American Collectors, etc.

 

 

Yup, that's why you get it SA. Is it more expensive? Or are they compensating since you don't drive that much on these policies? Can you add collision only and keep liability on your other insurance for your other cars? Do you have to get an appraisal or can you just say it want to insure it for this much?

 

Cant speak for everyone, just my own personal experience. I have Grundy which is now thru Philadelphia Indemnity. The first car I insured, I had to have an adjuster come out, take pictures, etc. After that, I just called the agent and gave them the VIN with the agreed value over the phone. Have 5 vehicles with them now. An example would be a car with agreed value of 12k is $74 for comprehensive and $53 for collision, so total of $127 with no mileage restrictions. Keep in mind that these are not daily drivers.

 

Same here $125.00 a year for $12,000 agreed value, unlimited miles. for the TA,I have American Collectors Ins.it has to be Garage kept and is not a daily driver and you must show proof that you have insurance on another vehicle.

 

My car is insured thru Grundy at $21k for $170/year. That's full coverage.

 

Thanks guys. Sounds very reasonable. So it sounds like your liability coverage is on the car thru your normal auto ins? Am I reading this correctly?

 

No. With collectors/antique insurance, it's a stand alone policy that covers the car in it's entirety. The reason for the lower premium is because it's known that the potential damage due to a storm or weather related issue is minimal because the car is garaged, it won't be a daily driver, so accident possibilities are minimized, parking lot damage and theft is minimized since you won't put that vehicle in harms way, etc.

I've had one claim in 15 years on my car. How many people can say that they've owned a car for 15 years with absolutely no insurance claims. My claim was just for towing when I blew the trans