I need advice on car insurance

[Gears & Crosses]

I have a fully restored 86 GT that I want to insure properly. I have full coverage with State Farm but I am worried about the payout if I have any claim. The book value of the car is probably $1500 which is only enough to piss me off. How do you guys insure your nice cars?

Also, keep in mind that I do not have a garage, as some classic insurance companies require. I do have a carport and the car is always covered.


I need your expert advice,
Gears

 

[Strype]

I know S&B has a special type of insurance on his car, but I haven't seen him post in months.

 

[90]

i heard that if you take it in to a custom car shop and pay someone to go over your car through your insurance company, that the insurance company will cover what they appraise... just contact the company they might have there own custom appraiser

 

[90blacknight]

I had my car appraised and went with an insurance company that only insures classic cars and hot rods. It's insanely cheap although there are some restrictions.
If you take an appraisal to your regular insurance company, such as state farm, you might me able to get them to insure you based on agreed upon value (highly unlikely), but even so they'd rape you. Look around in your area for classic or hot rod insurance companies.

 

[bob331T76]

My father has a few cars with www.hagerty.com/Auto/vehicle_index.aspx
give them a call and see what you can get.

 

[Gears & Crosses]

Thanks everyone for the excellent responses!!!

I am probably going to try all these avenues and hopefully something will work.

I am extremely paranoid of insurance companies as I have been jammed by a few.

Thanks again for your wisdom,
Gears

 

[Gears & Crosses]

I just applied at Hagerty. I hope I am able to get it.

Gears

 

[MikeC]

I have a restored 64 Triumph Spitfire insured through State Farm. They maxed the coverage out at $2200. I got an apprasial for $6500 and State Farm adjusted the policy to cover up to the $6500. Policy only went up about $20 every 6 months.

 

[Gears & Crosses]

Just in case, where or who are you getting to appraise your cars?

Gears

 

[90]

well you need to approve a company with the insurance company.. or they may offer a company they are affiliated (sp?) with

 

[MikeC]

Just in case, where or who are you getting to appraise your cars?

Gears

My insurance agent suggested a place. It was a dealer that only sold classic, muscle cars.

 

[Shakerhood]

I am going to try American Hobbyist Insurance next year when I pull it out of the Garage from Winter Storage.

 

[Gears & Crosses]

My insurance agent suggested a place. It was a dealer that only sold classic, muscle cars.

Thats a great idea Mike. I'm going to look for one.

Silly me, they have some Auto appraisers listed in my phone book. I didn't think there would be one my area.

Also, I got turned down by Hagerty today for not having a locked garage. They called me up to talk to me. They sound like nice people.

Gears

 

[Gears & Crosses]

Good Gosh, I called one guy and he wanted $250 for an appraisal !!! What's the deal here? How long does it take to look at a car and go online and get a price. Man, thats a weeks pay for some people in this country.

What a rip off,
Gears

 

[Strype]

Good Gosh, I called one guy and he wanted $250 for an appraisal !!! What's the deal here? How long does it take to look at a car and go online and get a price. Man, thats a weeks pay for some people in this country.

What a rip off,
Gears

Did you tell him where he was going after he dies?

 

[Gears & Crosses]

Did you tell him where he was going after he dies?

I should have...
I just asked him if he was going to bring a gun and a bandanna to the appraisal. "payup sucka"--> <-- "HELP thief"

Gears

 

[sjhm9102]

get a big dog and stay away from parking lots take pic and sue when then time comes keep all reciepts

 

[trbkrb]

If something happens to the car, then that $250 appraisal will seem like a very small price to pay for adequate coverage. Once I get mine painted, I'll for sure be getting one done.

I have been with State Farm since before I bought my car new, and they recently sent me something in the mail about their classic car coverage they also offer. It does have the mileage restrictions and such like the other companies, but I'm not sure on the rest of the requirements. I didn't pursue it since I still drive my car daily, don't have an extra vehicle and put about 12,000 miles a year on it.

Good luck on it!

 

[Gears & Crosses]

The only problem with State Farm classic car insurance is that the car has to be 25 yrs. old or older. I know because I tried already and came close to getting it until they couldn't set the policy on their computer. If your car falls into this catagory then this is the way to go as I think they are not as picky and they don't know as much about cars as the other Classic insurance companies do. Haggerty had some other issues about my car such as the mileage and useage of the car but that got straightened out when I called them. I can tell you they know more about our cars then State Farm. State Farm can be a little "snooty" towards you, or your car, if you not already with them however (unlike us, trbkrb).

Gears

 

[trbkrb]

That's odd, they addressed it directly to my Mustang since it is now 20 years old. They must have different policies offered in Texas vs Miss. We are also on their "guaranteed renewal" plan, (after 22 years of paying premiums) so they can not cancel me at all. Raising the rates is another thing, but so far they are very competitive with all the cut rate companies when I factor in all the discounts I get.

I do remember years ago, I did shop around. Most companies do not want to insure a performance car. Even with a good record, they treated me like I was rich or declined me right away. I had two cars insured with State Farm before the Mustang, and they substituted the Mustang witout a problem and even dropped my rates from what I was paying on an 81 Olds Cutlass!