Classic car insurance

[70NPORT]

I've had this on the back burner for a long time now, and I have talked to a few other members here about this topic but now I want to ramp my efforts up and make a decision as I'm fed up with the state inspection process (NJ). I've had other classic cars (older than 25 yrs) and never seem to have too much of a problem getting them through inspection, but it seems recently now the state has really been turning the screws on cars older than 25yrs. So I'm looking for input on classic car insurance. Is it a myth that under classic car insurance you can only drive the vehicle a very small amount of mileage?? That it must have a dedicated garage? or along with the classic vehicle you must own a modern vehicle?? I've had some people tell me they have classic insurance on their classic car and drive their all it all the time. Other's have said their insurance carrier looks the other way (which I find very difficult to believe--or its true, BUT they'll be in for a nasty surprise when its time to put in a claim). Just looking for some facts and honest scenarios here. I've been through NJ inspection 3x now and each time the test the car in a different way (I video recorded the last time unbeknownst to the station personnel). The last time they ran me through the "truck and heavy duty vehicles" line, which I did not do the first two times. I've come to understand theres no reason to check under the hood due to its model year (1970) and yet they've made me stop in the middle of the line and gone under there each time. I guess I'm just damn tired of ignorant inspection station jerk who just yesterday were manning the local 7-11. I've had my fill with this nonsense.

Love to hear from those who currently have classic car insurance and/or have had it for a number of years now.
Thanks.

 

[1978 NYB]

I've had this on the back burner for a long time now, and I have talked to a few other members here about this topic but now I want to ramp my efforts up and make a decision as I'm fed up with the state inspection process (NJ). I've had other classic cars (older than 25 yrs) and never seem to have too much of a problem getting them through inspection, but it seems recently now the state has really been turning the screws on cars older than 25yrs. So I'm looking for input on classic car insurance. Is it a myth that under classic car insurance you can only drive the vehicle a very small amount of mileage?? That it must have a dedicated garage? or along with the classic vehicle you must own a modern vehicle?? I've had some people tell me they have classic insurance on their classic car and drive their all it all the time. Other's have said their insurance carrier looks the other way (which I find very difficult to believe--or its true, BUT they'll be in for a nasty surprise when its time to put in a claim). Just looking for some facts and honest scenarios here. I've been through NJ inspection 3x now and each time the test the car in a different way (I video recorded the last time unbeknownst to the station personnel). The last time they ran me through the "truck and heavy duty vehicles" line, which I did not do the first two times. I've come to understand theres no reason to check under the hood due to its model year (1970) and yet they've made me stop in the middle of the line and gone under there each time. I guess I'm just damn tired of ignorant inspection station jerk who just yesterday were manning the local 7-11. I've had my fill with this nonsense.

Love to hear from those who currently have classic car insurance and/or have had it for a number of years now.
Thanks.

I have Maryland classic license plates on my Ny'er and drive 6000+ miles annually. No inspections - period. I have my NY'er insured through Geico. No special insurance. No problem from the police and no problems from Geico. No restrictions. I'm sure if I was doing burnouts or racing or speeding the police might have problem.

 

[Bryan]

I have State Farm Classic Insurance on my car. I did on the last one too. Price is lower than Haggerty by a couple bucks, but I don't have the towing feature on the policy. Full coverage. There is a mileage limitation (I think it is 4000 miles a year), but the only other usage limitiation is the vehicle can't be used as a farm vehicle or for commercial purposes. Agreed value in writing is currently 12,000. The car has lifetime "Pioneer" plates (cars over 40 years old). The car does have to be stored in a garage or secure structure, wich is no problem for me but could be a problem for others. No inspections, no renewal ect...

 

[bluefury361]

Collector vehicle insurance

Is it a myth that under classic car insurance you can only drive the vehicle a very small amount of mileage?? That it must have a dedicated garage? or along with the classic vehicle you must own a modern vehicle?? Love to hear from those who currently have classic car insurance and/or have had it for a number of years now.
Thanks.[/QUOTE]

I insure my collector vehicles with Haggerty's stated value policy. They do require a decated secure storage area, and a proof of insurance for a "daily driver" vehicle in your household. (Dosen't need to belong to you.) Driving is limited, (by policy), to traveling to and from events or repair/service facilities, but no stated limited milage. This is to discourage insuring daily drivers.

I take several vacation trips a year in my cars, Last June drove my 65 Dodge 3400 miles in 10 days. Then in November drove a additional 1100 miles to Daytona and back. On the return trip I had a rear wheel bearing fail and the axle slid out from the housing and did a little damage to the 1/4 panel.

Hagerty allowed me to take the car to a shop of my choice for an estimate and Although did not cover the cost to repair the axle bearing they did issue a check for the resulting damage with no questions asked. I was very happy with that.

I would recommend the specialty insurance co.'s over the main stream co.'s because of the stated value policy.... Low rates, no deductable, quick and reliable service. They do offer a road service option for only $25.00 more but I carry AAA plus which effects any vehicle I may be driving and not just the collector car.

As far as limited milage goes.... Most states offer a permanent collector, antique, vintage or YOM regestration for cars 20/25 years old that includes a limited distance clause. This clause is subjective and rarely inforcable. Unless your out doing stupid stuff, (face it.... were mostly old guys with C bodys), the law enforcement dosen't bother you.

Hope this helps.

 

[TorqueChap]

Recently moved all my classic car insurance over to Hagerty. Their rates on American classics are great. Agreed upon value. And they're very helpful finding a deductible that optimizes your coverage. No mileage restrictions but it's best to be honest with the number of miles you plan on putting on each car over a year. My plan also includes UNLIMITED flat bed towing which I love... and coverage even extends to cars I don't insure with Hagerty. Costs an extra $80 per year which let me shed my AAA card. Very pleased with them so far and highly recommend classic car coverage no matter which company you go with.

 

[70NPORT]

Blue361/Bryan/TorqueChap: Looks like the main problem here for me is gonna be how much my car is driven. She's a daily driver (and the ONLY car I own that is street legal). Plus, I LOVE driving her and I don't want to have to park her b/c I surpassed a mileage limitation. I want to have my cake AND eat it too, huh?

1978NYB - I had GIECO insurance not that long ago (switched to Lib Mu). Your situation sounds PERFECT except I drive waaaaaay more than 6K annually. Do you have another ride you switch off with??

I have a big red "reject" sticker at the bottom of my windshield right now, but I'll be damned if I'm going thu inspection again. Hagerty.....I'll look them up see what they can do for me. Thanks for the info!

 

[rexus31]

If your classic is your daily driver, it is not eligible for classic car insurance. That's the reason why you have to show proof of a daily driver. Driving it everyday increases the liability and the insurance companies don't like liability. You could get an appraisal and work with your current insurer to reach some sort of an agreed value based on the appraisal.

 

[70NPORT]

If your classic is your daily driver, it is not eligible for classic car insurance. That's the reason why you have to show proof of a daily driver. Driving it everyday increases the liability and the insurance companies don't like liability. You could get an appraisal and work with your current insurer to reach some sort of an agreed value based on the appraisal.

Yeah, that's what I thought too, but then when I asked around (other classic car owners) I heard from many a daily driver could still qualify. Mind you I have not found proof of this...yet, but too many people have said it's possible. I need to ferret out a leads before I just give up. It's worth it to me.

 

[bluefury361]

collector car insurance

I heard from many a daily driver could still qualify. Mind you I have not found proof of this...yet, but too many people have said it's possible. I need to ferret out a leads before I just give up. It's worth it to me.[/QUOTE]


No specialty car insurer will insure a daily driver........!! They are a service industry that caters to collector car owners because main stream insurance companys do not issue "stated value" policys. Main stream insurance co's pay off on claims based on current bluebook value,(not collector car value guides), which means that your 40 year old car has no replacement value to them. Hense.... the need for specialty car insurance.
Main stream insurance co's will be able to provide basic liability insurance but comprehensive and collision arn't worth the investment.

There are folks who insure with specialty insuance co's.... agree to the terms.... and use their vehicle as a daly driver anyways.... I suspect that these are the people you've been talking to...

 

[1978 NYB]

Blue361/Bryan/TorqueChap: Looks like the main problem here for me is gonna be how much my car is driven. She's a daily driver (and the ONLY car I own that is street legal). Plus, I LOVE driving her and I don't want to have to park her b/c I surpassed a mileage limitation. I want to have my cake AND eat it too, huh?

1978NYB - I had GIECO insurance not that long ago (switched to Lib Mu). Your situation sounds PERFECT except I drive waaaaaay more than 6K annually. Do you have another ride you switch off with??

I have a big red "reject" sticker at the bottom of my windshield right now, but I'll be damned if I'm going thu inspection again. Hagerty.....I'll look them up see what they can do for me. Thanks for the info!

I have a truck too. I will drive the NY'er more than 6k a year, especially when I get the wiper problem fixed.

 

[70NPORT]

I heard from many a daily driver could still qualify. Mind you I have not found proof of this...yet, but too many people have said it's possible. I need to ferret out a leads before I just give up. It's worth it to me.

No specialty car insurer will insure a daily driver........!! They are a service industry that caters to collector car owners because main stream insurance companys do not issue "stated value" policys. Main stream insurance co's pay off on claims based on current bluebook value,(not collector car value guides), which means that your 40 year old car has no replacement value to them. Hense.... the need for specialty car insurance.
Main stream insurance co's will be able to provide basic liability insurance but comprehensive and collision arn't worth the investment.

There are folks who insure with specialty insuance co's.... agree to the terms.... and use their vehicle as a daly driver anyways.... I suspect that these are the people you've been talking to... [/QUOTE]

Well, perhaps. But then if they are doing that i.e. "insure with specialty insuance co's.... agree to the terms.... and use their vehicle as a daly driver anyways" they all must be incredibly stupid....paying premiums, risking getting into a disastrous event and having the carrier turn around and deny the claim.

 

[polara71]

Condon and Skelly do not limit the miles I drive, the state however does. They do not monitor your mileage but the QQ tags are only to be used for educational and exhibition purposes. You need to claim it is garaged and must have another registered vehicle with regular state insurance. There is no inspection on the QQ tags and you only pay for an initial registration. After that you must register the vehicle every three years and its free.

 

[Bryan]

They are a service industry that caters to collector car owners because main stream insurance companys do not issue "stated value" policys. Main stream insurance co's pay off on claims based on current bluebook value,(not collector car value guides), which means that your 40 year old car has no replacement value to them.

Actually, some "mainstream" Insurance Companies do issue Collector Car Policies with documented Stated Value. My last two collector cars have been insured by State Farm under a "Collector/Antique Vehicle" policy with garanteed stated values. In my case, they are different from the normal car policies. The agent took four angle pictures of the car, top up and top down. Also took pictures of the interior and under the hood. Mileage is limited, but fairly liberal and you can decide up to 7500 miles a year (rates change as you go up). Say I were to decide to take a cross country tour to a show. That would be OK, if i exceed my stated mileage, they would raise it to the next level for the next period of the policy. Their policy is very similar to Hagerty's, but I couldn't get the flatbed home rescue part that Hagerty offers up to 150 miles or something like that, so AAA will be on the cards if I decide on a long trip. I don't know if this is offered in all states yet, but it has been available in ND for several years.

As usual, the following stipulations do exist. You must have a secure garage or similar structure to store the car in and there must be a licensed daily use vehicle for every licensed driver in the household.

 

[1978 NYB]

As I stated in a earlier post, Geico has my NY'er under a liabilitiy only insurance policy which costs me $14 a month. That allows me to put "Historic" license plates (no inspections) on my Ny'er in the People's Republic of Maryland. If my journey on the NY'er ever gets to the Rexus, Polara, Commando's (and others on this site) level of restoration I'll get a better collector car insurance policy for sure.

 

[bluefury361]

Good to know....

Actually, some "mainstream" Insurance Companies do issue Collector Car Policies with documented Stated Value. My last two collector cars have been insured by State Farm under a "Collector/Antique Vehicle" policy with garanteed stated values.As usual, the following stipulations do exist. You must have a secure garage or similar structure to store the car in and there must be a licensed daily use vehicle for every licensed driver in the household.

This is good information,
It sounds as though State Farm has entered into the collector car insurance market. Basically the same as Haggerty's policy. I would be curious to know if the premiums are competitive, Seems like they would be. I pay $135.00 a year for an agreed value, ($15000.00) policy which includes zero deductable, $300,000.00 Liability, $50,000.00 property damage, and some additional coverage including loss of spare parts, ($750.00).

There is no limited mileage clause, renting or leasing the vehicle is dissallowed.

The optional Haggerty plus membership is an additional $24.00. Includes roll back service up to 100 miles. (10 miles is included in the standard policy).

 

[rexus31]

I recall checking with State Farm and the premium was more than Haggerty.

 

[Bryan]

My policy is less than the Hagerty quote, but I have multi car and house discounts plus a 250 deductible. I imagine it would be the same or maybe slightly more otherwise.

 

[70NPORT]

Nice. All good info...thanks much for the tips. I have a garage however there's another car in there, if pressed I can move it temporarily....and another state registered contemporary vehicle. Its funny, almost EVERY time I see another classic type car drive by me on the road, they have "QQ"or "historic" tags and big smiles. Probably 'cause they're no longer have to deal with state inspection.

Polara, since we both live in the same general area I'm glad you chimed in. C&S will be the first carrier I'll contact.

 

[polara71]

No state inspection, one time registration fee and your insurance will be under $200.00 bucks for the year. Tell them you keep the car at your residence IN the garage, thats all they need to know. Of course, if something happens to the car while outside the garage you wont have a leg to stand on.

 

[70NPORT]

No state inspection, one time registration fee and your insurance will be under $200.00 bucks for the year. Tell them you keep the car at your residence IN the garage, thats all they need to know. Of course, if something happens to the car while outside the garage you wont have a leg to stand on.

Understood. Small risk of that since I don't keep her on the street at all. I learned the hard way about parking on the street with another beloved car I once had. Thanks.