Classic/Collector Insurance

[shs04cutie]

I was wanting to get some information on Classic/Collector Car Insurance. I have a 68' 302 coupe stang. I have insurance on it right now but i thought that maybe collector/classic insurance might be cheaper. Not sure how many the miles has on the car because when I bought it the motor has 56k on it but it could have turned over. I dont drive the car everyday. It hasnt actually been driven in a couple months. Any information would be great. Thanks in advance

 

[2bav8]

I highly recommend you check out www.hagerty.com

As long as you have another primary vechicle and a garage, you'll save a lot of money

 

[shs04cutie]

Yes I have a Honda Accord that is my every day driver, but I dont have a garage literally, if that matters. It is in the drive way.

Also, would I provide them with an Qoute or would i need to get it appraised.

 

[2bav8]

Hagerty uses an "agreed value", so you won't need an appraisal.

The car does need to be stored in a garage. They are somewhat sticky on that. I know Grundy uses the same policy.

Visit their website, its pretty informative.

 

[shs04cutie]

I just got done looking at their website. I guess that I am not qualified since I do not have a garage. Any other options any one else?

 

[shs04cutie]

ttt

 

[Pakrat]

You will likely not find anyone that will give you collectors insurance for a car that remains outside, it just does not work that way. A collectable anything has to be properly stored in order to retain it's value, wether it's a car or a baseball card. Honestly, for what you will save with Hagerty vs. insuring it as a regular car (even with agreed value still) over just a few years, you can probably afford to build a garage. Seriously, what would cost you maybe $1200 a year at XYZ might only be $120 at Hagerty. That is purely an example, but you get the idea.

 

[adamb258]

Well I am not sure what we pay right now but i know that the quote on hagertys web site it said $199 or so a year. which i i think is really good. I am at college and my car is at home so I asked my parents if we do save a lot of money with this insurance than maybe we could store it. I think there is a place where i could store it for $35 a month. I guess it all depends on what we are paying now.

If i get my car appraised I can tell that to the reg insurance company and they will cover it for that much right? i dont know much about insurance sorry guys.

thanks alot

 

[Pakrat]

Well I am not sure what we pay right now but i know that the quote on hagertys web site it said $199 or so a year. which i i think is really good. I am at college and my car is at home so I asked my parents if we do save a lot of money with this insurance than maybe we could store it. I think there is a place where i could store it for $35 a month. I guess it all depends on what we are paying now.

If i get my car appraised I can tell that to the reg insurance company and they will cover it for that much right? i dont know much about insurance sorry guys.

thanks alot

Read the fine print again, not just any storage is acceptable. The storage must be on site where you live, ie an attached or seprate unit on the same property you maintain residence. In addition you must also have a seperate registered vehicle for every single licensed driver living in the house.

As for regular insurance, some companies will give you agreed value as hagerty does so an appraisal isn't really necessary per say, but regardless you will pay alot for that kind of coverage. That is the biggest down side to having a classic as a daily driver, you are far more likely to have an accident therefore the cost can be high for little to no coverage at all. Of course there is always an exception, I only drive about 1,000 miles a year and look what happened to me.