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Anybody have classic car insurance?
- Thread starter kyle67
- Start date
All that I've seen (including mine American Collectors Ins.) require a locked garage.
Haggarty requires a lockable garage and the car not be a primary vehicle for transportation.
I think my husband checked into the classic car insurance with Grundy, Haggerty, etc and I believe they all required a locking enclosed garage. They also require each licensed driver in the house have a vehicle, that the classic car couldn't be a daily driver. They have limits on how often/mileage the car can be driven.
I have a garage, but decided I'll stick with regular insurance company because my husbands work gets a discount with the particular company we currently use. We have full insurance on all 3 vehicles and paying less than $150 if I remember correctly. That and I didn't like the classic insurance rules about how/when I could my mustang. That's another reason I'm not registering my mustang with a classic car license plate, plus I can't get "NOT HIS" on a classic plate. I want my custom plate! :thu
I have a garage, but decided I'll stick with regular insurance company because my husbands work gets a discount with the particular company we currently use. We have full insurance on all 3 vehicles and paying less than $150 if I remember correctly. That and I didn't like the classic insurance rules about how/when I could my mustang. That's another reason I'm not registering my mustang with a classic car license plate, plus I can't get "NOT HIS" on a classic plate. I want my custom plate! :thu
jims6t6
Well-Known Member
"70 StangMan" said:
+ 1
gtscode
Active Member
To those who say they use standard insurance that may be fine for a driver or low budget car. But once you have $50k into your Mustang that isn't going to cut it. At some point agreed upon value is the only way to go. Me I'll take Hagerty and the limitations as I have way too much into my car to rely on regular insurance.
It all depends on the purpose of the car and how it will be used as well as how much you have invested in it.
It all depends on the purpose of the car and how it will be used as well as how much you have invested in it.
Kat, just curious on what your regular insurance would pay if your Mustang was totaled ??"Kats66Pny" said:
"gtscode" said:
I agree. My mustang is well.. doesn't have much invested in it and won't. At most, I'll put 5-6k into it. And it'll be driven.. A LOT. So regular insurance for it.
Now when I get 1970 Mach 1 ... that will have classic insurance and be a garage baby and only taken out on nice days.
I'm not 100% sure. My husband deals with the insurance. I'd have to ask my husband on that.
edit: asked husband.. he said no clue. LOL
I have mine insured with all my other cars at American family. I have an agreed value policy which I update every couple years by sending in a new appraisal.
I pay about $100 a year and don't have to deal with driving restrictions. But my car is not a show car or extremely valuable.
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I pay about $100 a year and don't have to deal with driving restrictions. But my car is not a show car or extremely valuable.
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AzPete
Well-Known Member
Mine is with State Farm....no restrictions.....Appraised at $21,000..they say they pay that minus any deductable and they like to have pics annually, reappraised every two...hmmmm....maybe someone will steal it.....hmmm...(just kidding..lol)
I would get more if mine were stolen then I could probably sell it for. Lol
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sent from my HTC Droid using tapatalk.
AzPete
Well-Known Member
Hmmmmmm........lol
"Kats66Pny" said:
+1 on both counts.
I just put both the Trans Am and the Mustang on my regular policy and it's not very expensive at all without all the restrictions. I also turned down the classic plates on both cars for the same reason.
If I can't drive the cars whenever and where ever I want to drive them, I'd sell them. I don't see much point in putting in the blood, sweat and tears if you can't drive them which is why I never understood people that own trailer / garage queens.
"AzPete" said:
My insurance valued the TA at $20k about the time I bought it. At the time I had a leaky carb in very bad need of a rebuild and bad engine harness....yes that was tempting to have an "accidental" engine fire considering at $20k I could have more than doubled my money, LOL!
"gtscode" said:
Exactly. If you have more than a few bucks in your car, agreed upon value is the way to go.
Also classic car plates in Texas are a bargain--they cover 5 years for the price of one year and exemption from safety inspection. IIRC, you can use any plate you want, including vanity plates, as long as it's a Texas plate and in good condition. (can't be a daily driver though.)
34isgreat
Member
I have Grundy, so far so good but I do have a inclosed garage. I tried Haggerty first and was turned down because I have 4 drivers and just 4 cars counting my Mustang. The Mustang must be an "extra" car. My oldest is away in collage and has no need for a car but they still turned me down. I have had no claims yet, hope I never do. I pay $100.00 a year for $5000.00 in coverage. Once car is complete I will double my coverage.
"Jack1966" said:
In Texas there are 2 kinds : Classic Auto and Vintage Auto.
Classic - You still need to do yearly inspections/registration but it can be driven daily. This one can have vanity plates and YOM I think.
Vintage - No inspection/registration but has limits how often/when it can be driven. This is the one where it's good for 5yrs. I don't think this one allows vanity plates.
I put in a call to the agent that has my auto and homeowner's and he is going to check for me. I don't mind the 5k mile per year restriction and my wife and I are the only drivers and the Mustang is a third car. I just don't want to have to build a garage right now, although my future plans do call for it.
"Kats66Pny" said:
With the plates that I have I could drive my Mustang as a daily driver if I wanted to do so. I have to do the annual inspection but it's just the cheap "safety inspection" and no big deal, think it runs me about $15 or $20 a year. They don't bother with smog testing, etc.
Last year when I took the Mustang in on my lunch hour it was inspected with new sticker in about 20 minutes. The guy doing the inspection asked if it was for sale, said his dad was looking for an old Mustang. I gave him my card and told him $20k and it's all yours. Mysteriously he never called :shrug