Goldhawg

iTrader: (7)

I need to get some sort of stated value policy. Not sure what I need to ensure it for, but w/10K+ in just the LSx/T56 swap, plus its a nice convertible cutlass. I couldn't start from scratch and duplicate for under $25K, probably not $30k, and that we me doing almost all the labor. My insurer, USAA, doesn't allow unlimited mileage/usage for these kind of policies. But I intend to drive this car every nice day between April and November. So what type policy, which insurer and how much are you all doing?

jwatts

iTrader: (4)

I am using Hagerty. They have great rates and service. They will assess what you have done to the vehicle and insure from there. They have a few different types of policies. The one I currently have is handled as a project. They came up with a baseline value. From there, my coverage increases a few percent each quarter to cover any improvements I have done to the car. I can also call in and up my coverage if anything major (LS swap) is done to the car. Once I am finished building it, my appraised value will be reassessed and a custom car policy will be set up from there.

99MUSTANG5.3L

You can ask your agent about an "agreed upon value". I plan on going this route this time around after getting the shaft with the last car.

Cape T/A

Wow that's really cool!

sprayed99

iTrader: (15)

Hagerty wanted 1,400 a year for a assessed value of 90K
Grundy wanted 365 a year for 100K with all the extra roadside crap

Hagerty was kinda short with me over the phone and when I asked about the higher premium that claimed it was my age (29)

Grundy spend over an hour on the phone with me and was very professional.

I called Hagerty back to ask another agent and they came up with the same premium as before and they claimed it was because the estimated horsepower and the fact it had the "pro street" appearance.

Bottom line I went Grundy as Hagerty couldn't even keep their story straight.


Just my .02 cents but true none the less.

jwatts

iTrader: (4)

That's a great price through Grundy. I went with Hagerty because they did the project car insurance. It even covers around 5 grand in parts in case any parts I have set back to put on the car are stolen or damaged.

97ss497

iTrader: (24)

16k for $255 a year thru Grundy. Excellent value and service.

arthropraxis

Insurance companies vary state to state. None of the specialty insurers in my state will insure a daily driver. They all had mileage limitations and required proof of a second car of less than five years old for an agreed value policy.

jlay

iTrader: (2)

I would also be sure to tell them how you are going to drive it. Hagerty would not insure my car (72 chevelle w/5.3) to be a daily driver, they claimed it could only be driven to/from shows, etc. My insurance company that carried my regular cars would carry it with an agreed valve to be a daily driverbut it was a little higher. I think ~$600 for an $25,000 value

99MUSTANG5.3L

Does Grundy only do classic cars? Mine's an 02 but I want better coverage this time around. When I totaled the last one the ins. company would only give me book value for a V6 car.

reedld

iTrader: (7)

I've used Hagerty for 3 years. Nothing but good so far....a co worker had Hagerty and on his birthday, he got rear ended while driving his 69 cutlass convertible. Hagerty represented him well...actually fought for and won additional money for repair from the other driver's insurance. When I got my Hagerty policy, a couple things they mentioned were....garage stored, no racing, no auto crossing, and <3000 miles per year.

sierrac3_s2000

iTrader: (6)

I had my 97 Nissan 240SX insured through Grundy for $50K. I had mileage restrictions as well but mine was mostly a show car. All they required to cover it was a few pictures, however when it was stolen and burned they suddenly wanted receipts before they would pay out on the claim. Luckily I had them all so they finally sent me a check but it kind of ticked me off that they didn't need it for me to pay premiums for several years.

1981TA

iTrader: (7)

Antique Vehicle insurance via State Farm, stated value at 18K. Augmented by track day insurance (Lockton or K&K). My street use is limited anyway (like 3 K a year), so this was a simple approach. It costs me 36 bucks a month + track day coverage.

Pop N Wood

iTrader: (1)

Just added the car with liability only to my regular insurance. In my case garage kept, good weather only, so getting more than that isn't worth the expense.

It always amazes me how people talk up their insurance companies when all they have ever done is mail them checks. It is when you try and get money out of them that tells you whether the company is any good or not.

Some good information above. The wording on the policy is super important. There is a big difference between agreed value and stated value. As stated above most collector companies have pretty strict restrictions on how you use the vehicle.

Keep in mind if you lie to an insurance company you don't have insurance. They will cash your checks just fine but will have an excuse to invalidate the policy when it comes time to make a claim.

Best advice I can give is to read around and talk to someone successfully made a claim without getting butt raped in the process. The cheapest policies aren't always the best.

99VetteFRC

I have J.C.Taylor on the Chevelle and it's $169/yr for a $20k stated value.

MSWLFST

We have not increased our coverage yet on our mustang but for my husbands 1995 Supra, we were told it was best to have an appraisal done. That way the insurance company has record of the value and should it ever get stolen or totalled, you have proof of value as well. We have state farm and love them.

68Hybrid

I did a lot of searching before i ended up with state farm.

All of the " classic car" specific insurance companies required it be
-stored in a garage
-only driven occasionally
-never raced

I talked with a number of typical daily driver insurance companies and went with state farm because they were the only straight forward company who helped me out with an "agreed upon" value plan.

They wouldn't let me claim it was worth 100k for ***** and giggles (cuz then anybody could say their civic had $1million of sentimental value, push it off a cliff and be rich). So, I got my car professionally appraised, sent the appraisal to state farm and they set the "agreed upon" value as 2K over the appraised value so that i had some room to pour more money in to the car without worrying. No mileage limitations or anything of the sort.

The original quote was well over $1K per year for the classic, but then i bundled it with the insurance of my daily (2008 mazdaspeed 3) and the price came down a ridiculous amount.

The mazda's insurance by itself was something like $2100 per year, but by bundling, the mazda went down to about $1400 and the classic down to $600. I'm actually paying less for 2 cars than i would have if i just had the mazda! I've been pretty happy so far, but then again I (knock on wood) havent had to file a claim. **Note-- I have a clean driving record, and these prices have since gone down; I got the plan when i was 23 and am now 26-- as i'm sure we all know, insurance gets a lot cheaper on your 25th bday.

sierrac3_s2000

iTrader: (6)

As stated above, be very aware of wording. Agreed upon value and stated or actual value are entirely two different things.

Agreed Value is what you and the insurance company agree that your car is worth and if there is a total loss claim you will receive this amount.

Stated or Actual Value is what you tell the insurance company your vehicle is worth and you pay a premium based on that value. However if you ever have a claim then an adjuster gets to determine what you vehicle is worth at the time of the claim so don't expect to get the total amount.

Cape T/A

That's good to know.

Sarg

iTrader: (6)

Funny, I have usaa and they said there was nothing special required. If I ever had it stolen they would pay for everything that I had reciepts for. This is in a 1991 mustang.