Collector/Antique insurance

93SVT

93SVT

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What are, if any, my options for collector/antique insurance on a very low mileage commute daily driver. We had 3 cars but that is no longer the case. I have truck that i take to work and my wife's car that she rarely rarely RARELY drives. We ideally would still like to have her and me insured on her car. I am just looking to avoid if the truck gets stolen/hit i wont be getting KBB value. For those who don't know i just completed an exterior resto. I feel like i remember doing some research a ways back and it seemed like i would need a 3rd car as a daily and then i could insure the truck with collector insurance. I sure would hate to have to get a 3rd car only for that reason.

Please let me know what you guys recommend or how you insure your daily driver with a good value on it
 
Grundy and Haggerty are two of the biggest ones. Unfortunately when I was looking for insurance on my 4 gen 1 they were not writing policy in my area due to the hurricanes.

I ended up with State Farm Classic/ Collectors Insurance. All on my trucks are insured for a said amount. Ex. Day 16k.

One thing I can tell you forsure is you have to have another vehicle to drive on a daily basis. I had to show proof I had something to drive daily toand from work other than my Lightning's.
 
Most companies offer some version of insurance for collectible cars, but their terms vary. Some place mileage limitations on the vehicle like 1,500 miles per year. What happens if you go over is something you'll need to consider. It could just mean the rates go up or it could mean they cancel the policy.

Another option that isn't necessarily collector or antique insurance is a stated value policy. In these policies you tell the insurance company what you want to insure the vehicle for and they give you a premium based on that value. You usually pay more for these, but they don't come with limitations on mileage or use.
 
I have hagarty. When I first got it I had an agreed value of $24k. I think that was about $450/year. I upped it this year to a $40k agreed value. And that was $630/year. I am limited to 5000 miles per year.

I have never had a claim so I can't tell you anything about how that works. But everything else is great. Love working with them. Super nice very knowledgeable people. They have some online valuation tools and club stuff that's cool.

I had to prove I have heat and air conditioning in the garage with a security system. All those got me discounts. I also had to take a bunch pictures of the truck all over. But everything went great.

I would say try for an agreed value a good bit higher than you want. That way if you do have a claim you have some extra.
 
glenbartley said:
I have hagarty. When I first got it I had an agreed value of $24k. I think that was about $450/year. I upped it this year to a $40k agreed value. And that was $630/year. I am limited to 5000 miles per year.

I have never had a claim so I can't tell you anything about how that works. But everything else is great. Love working with them. Super nice very knowledgeable people. They have some online valuation tools and club stuff that's cool.

I had to prove I have heat and air conditioning in the garage with a security system. All those got me discounts. I also had to take a bunch pictures of the truck all over. But everything went great.

I would say try for an agreed value a good bit higher than you want. That way if you do have a claim you have some extra.
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I have basically the same policy and had to provide the items you stated as well. Mine's agreed at $40k
 
Raymond_B said:
I have basically the same policy and had to provide the items you stated as well. Mine's agreed at $40k
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These policies i assume are with proof of another vehicle to drive daily? That's where I'm afraid I'll run into my issues.

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93SVT said:
These policies i assume are with proof of another vehicle to drive daily? That's where I'm afraid I'll run into my issues.

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I did not have to prove, but I did state that my Lightning is not my primary vehicle.
 
My quote with Hagerty was steep (don't remember the value as it was a couple years ago) but I have grundy at 35k agreed and its $4XX a year. may up it a bit as the value of these things is going nuts.
 
FlatOut said:
My quote with Hagerty was steep (don't remember the value as it was a couple years ago) but I have grundy at 35k agreed and its $4XX a year. may up it a bit as the value of these things is going nuts.
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My Hagerty is cheaper than Glen's, sorry Glen did not want to rub it in LOL. Believe it or not I went through my insurance agent who is an independent broker so he was able to provide the same policy cheaper vs me going straight to Hagerty.
 
I go through my agent but I talk directly to hagarty. I think different areas have different rates. I'm halfway between DC and Richmond.

I don't have to prove anything on mileage. Iv had it like 4 years and they have never ask. They said it couldn't be my primary but I didn't have to prove I had anything else either.

I'm going to switch raptor over as soon as they have them in their system. I don't drive it 5000 Miles a year either. The reason is my raptor is a 2012 and only has 50k miles. So I think an agreed value will serve me better and it will be cheaper also.
 
I had infinity, and I guess hagerty took them over. Hagerty doubled the rate this year, so I went through state farm and did declared value. They have different rates for mileage, but it cant be a primary vehicle.
 
gpz 750 said:
I had infinity, and I guess hagerty took them over. Hagerty doubled the rate this year, so I went through state farm and did declared value. They have different rates for mileage, but it cant be a primary vehicle.
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Super annoying but I guess understandable. I'll call around and see if I'm screwed. I really don't want to buy a 3rd vehicle

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93SVT said:
I really don't want to buy a 3rd vehicle
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If it's down to that, which is more cost effective: Spending thousands on another vehicle plus its operating expenses or spending a little more for regular insurance with a stated value on the Lightning? I'd just spend a little more on insurance. This is like when gas prices shot up to $5/gal several years ago and people got rid of a perfectly good and paid for vehicle that got 20 mpg and took on a $600 payment and all the added expenses that go with it to save $100/month on gas. Just doesn't make sense.
 
oilwell1415 said:
If it's down to that, which is more cost effective: Spending thousands on another vehicle plus its operating expenses or spending a little more for regular insurance with a stated value on the Lightning? I'd just spend a little more on insurance. This is like when gas prices shot up to $5/gal several years ago and people got rid of a perfectly good and paid for vehicle that got 20 mpg and took on a $600 payment and all the added expenses that go with it to save $100/month on gas. Just doesn't make sense.
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This was more along the lines of what i was wondering about. I havent had a chance to call my insurance company yet, but if i can keep "regular insurance" with a stated value then yeah that sounds like what i am looking. Sounds like you are saying that is an option
 
I had Hagerty for 20 years and I really did love them. Had a claim once that went flawlessly! A few years back I decided to check prices and found them to be at the high end of collector car insurance. I don't mind paying a bit more for good service, but I saved $600 annually for six cars by switching to Grundy. $50 or $100 I wouldn't have bothered. I verified coverage in line with Hagerty and the limitations. Nothing I can't live with. I called Hagerty before switching and they wouldn't budge. Other than providing pics of the vehicles it was simple. So far adding and subtracting cars has been simple too. I've not had a claim, but I know people that have had them with no issues. Grundy will insure daily drivers although I've not checked pricing.
KID
 
Blue Oval Forever said:
Grundy and Haggerty are two of the biggest ones. Unfortunately when I was looking for insurance on my 4 gen 1 they were not writing policy in my area due to the hurricanes.

I ended up with State Farm Classic/ Collectors Insurance. All on my trucks are insured for a said amount. Ex. Day 16k.

One thing I can tell you forsure is you have to have another vehicle to drive on a daily basis. I had to show proof I had something to drive daily toand from work other than my Lightning's.
Click to expand...

Interesting. How many miles are on your trucks? I’ve tried multiple times to get collectors with State Farm, but they rejected me because my truck has 90k on it.


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77k, I am sure hagarty ask but I really don't remember that in the conversation. There are some weird laws. Basically the law says anything older than 10 years don't trust the mileage. And after 20 years it doesn't have to be stated at all or disclosed in any way. Its so common to change mileage I'm seeing the collector world assume it's false if it's over 10 years.

Something was said during a mecum auction and I googled it.

The following vehicles are exempt from odometer disclosure:

  • A vehicle model year 2010 or older
  • A non-motorized vehicle (i.e. trailer-type vehicle)
  • A moped
  • A vehicle with a registered gross weight or gross vehicle weight rating above 16,000 pounds. This includes vehicles that have been registered in Wisconsin or another state above 16,000 pounds at any time in the past
  • A low-speed vehicle (LSV)
Of course all states have their own laws.
 
I don't have Haggert, but have read some horror stories in the Foxbody world with Haggerty claims. I do have Grundys MVP Plan. I have to ensure at least 1 daily driver, but the rates on the Boxster, Fox and Lightning are super cheap, and w/o mileage limitations. I think I pay $300/yr on my Boxster @ $50k, under $200/yr @ $20k on the Fox (I'll double the coverage once its done), and I think its around $350/yr @ $35k on the Lightning. I have had a claim on a daily driver and the service was excellent.
 
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