REAmemiya_fan

Just curious to see how many people put their FC under collector's insurance. I'm finally moving onto my own policy and after getting ridiculous quotes from the normal companies, I decided to check out Hagerty. I was quoted $408 / YEAR. Gieco was $198 / MONTH. I think it is pretty clear what choice I will be making.

With Hagerty I also have unlimited miles I can drive, up to 125mi free towing, and a few other nice things. I only drive to school and work so I'm not much of a liability. Besides after my first accident I drive as if I'm sitting on a button to launch nukes to my house. So in short no matter what I will be covered for up to $3500 worth of damage done to me before it is considered totaled. If I was reading right.

Rob XX 7

iTrader: (8)

you are technically not covered to drive to school, while being unlimited mileage it is understood that you will not use the vehicle as a everyday source of transportation.
You will be required to provide proof of a daily driver no less then 10 years old ( this was the requirements when I applied )

you are supposed to be keeping the car in a garage and last I applied each driver including yourself in your house had to be 25+ years of age. Send photos of the car in and it is supposed to be close to stock as well.


I have had it on my FCs for years with grundy who were much cheaper then haggerty, and I have a jeep with jc taylor because grundy will not take the jeep.

REAmemiya_fan

Hm, well I'll have a look into Grundy as well. I just cant even imagine paying $200 a month for insurance being 19, going to school, and working part time. There is just no way. Luckily these companies are around to at least give a side option even if they're hard to get.

Rob XX 7

iTrader: (8)

you will not get the insurance at 19 years old, it should say the basic guidelines on the application which is usually viewable online.
I just paid $165 for the year on my vert, its insured for either $12k or $15k, cant remember, but I do remember it was hard for me to justify the additional value on the car. I already had one of their adjusters on the car too they know what I have but when I first took the policy out the car was essentially stock. Once you are in with them its easier dealing with them, add cars with a phone call its very simple.

REAmemiya_fan

Tough world man, I understand though. Most drivers my age don't know the difference between a green light and a stop sign. Unfortunately this is one of those times where some ruin it for all. Looks like I will be broke for the next few years!

Derekcat

iTrader: (8)

Hmm.. Have you shopped around everywhere? Any tickets?

When I was trying to find insurance for two FCs [I think I was 21? 22?] Progressive was literally half the price of anyone else.
Insuring just a single FC was slightly cheaper through someone else.. [Allstate?]

JustJeff

iTrader: (13)

Definitely shop around. I've found huge differences between companies and Geico has always been expensive for me...by hundreds of dollars. I'm older and don't have to pay the costs of being young and driving a sports car...that and our cars aren't worth a lot so insurance should be pretty cheap. Mine with renters insurance for full coverage was only $60/month...or so.

My car isn't historic yet so I haven't shopped for specialty insurance, but what Rob is saying sounds very sound and accurate.

REAmemiya_fan

Yea I might just stay with who I have now, and technically our cars don't have to be considered 'historic' for them to get specialty insurance. Hagerty seems to be the best collectors insurance out there (next to Grundy) but from what I've been gathering they require you to own a second car as a primary.

And apart from a claim to my insurance (though it never followed through, it was simply a statement to my insurance to let them know I had been in an accident at my fault) I have had no tickets or any other problems with any sort of law enforcement. I'm clean as a new car.

Rob XX 7

iTrader: (8)

Car doesnt have to be historic, they insure them on a case by case basis. Regardless they will not insure a daily for a person under 25. Both grundy and haggerty have similar requirements in regards to collector insurance

All drivers over 25 years of age ( might have been 27 )
Daily driver insured in your name no more then 10 years old
Daily for other licensed operators in your household
Car is to be garaged
Hobby and pleasure use.


I do see grundy offers insurance for all cars now (but not collector agreed value insurance ) , going to try to remember to call them today to see how thier prices compare to my daily driver insurance. Would also be a good way for you guys to possibly step into a agreed value collector policy if they i sure your daily.

Banzai

iTrader: (13)

Rob XX 7 is giving you the straight poop. Collector car insurance was created to provide coverage on an older vehicle, when their values become more specultive and sometimes substaintial, not to make insuring your old car more affordable for you. I have 2 SA's on agreed value type policies. I looked at both Haggerty and Grundy and ended up going with a non-name brand outfit that my independent insurance agent carried.

They all required a secure place to store the vehicle, a seperate daily driver vehicle for every driver in the household and a few other stipulations. Basically, these are supposed to be vehicles that are used sparringly not regularly and you will not be able skirt their system or requirements.

It's good for what it is intended. On paper, my cars are worth nothing. To your average forum member or enthusist, maybe 4-5K on a good day but my actual investment in work and parts is more like 12-15K and that is what my agreed value is. I "maintain" my cars more than drive them. I just wanted something to cover my investment in case of fire or storm or some bone head.

Rob XX 7

iTrader: (8)

I have grundy sending me a quote for my other vehicles. I take good care of my cars and feel they are worth more then "book" value, their policy for other vehicles is also agreed value so I have them sending me a quote for my superduty and my G8 which I feel are both worth way more then book value

Banzai

iTrader: (13)

^Intresting concept^, I'd be interested in seeing how it compares to your normal policy. Assuming your value on the D/D's is modestly over book to reflect your care and vehicles condition?

Rob XX 7

iTrader: (8)

they got back to me, its a few dollars more, little over $200, but agreed value more then book value for all 3 vehicles
gives me something to think about

HoustonMS3

My FC is insured through Hagerty, declared value of $5000 (which reminds me to up it), stored in a locked garage, driven less than 3,000 miles a year... I pay right at about $175 a year for coverage.

wynn711

I have everything, all vehicles, motorcycle, including home with State Farm. The 88 is insured for 13k and the premium is about $160 per year. It was covered under a seperate policy and my agent just considated everything into one policy. He knows the car and how ofter it is driven and that is not much! On paper, it is worth a whopping $400 per my last tax bill.