Classic Car Insurance
 

I would like to get classic car insurance on my 1980 300cd, however I am 17 and the ones I've researched do not let people younger than 18 to get an insurance policy. Do any classic car insurance companies allow clients younger than 18 to get policies? Or should I tough it out and use my parent's policy and get Hagerty Classic Car Insurance when I turn 18? I do like the idea of paying 100 dollars per year to insure my car. Your thoughts are appreciated!

You may be forced to just tough it out.

most classic car insurance require it not to be a daily driver and under 5000 miles per year also

I've never thought about that. Are you saying classic car insurance is less than standard car insurance? How does that work? Who has policies like that?

I have my old Chevelle with Haggerty. I'd give them a huge :thumbsup: But I;ve had no claims. Keep in mind, its restrictive. Locked garage, no daily commuting etc.

Guess I'm not insured when I race it either! Go figure! :D

The key is that the classic policies insure for an agreed upon value. Book value on a 67 Chevelle SS396 might only be 5-6K, whereas retail price for original mint condition ( restored) is over 40K. I have mine insured for my "cost basis", which jumped a bit when I added a Richmond 5 speed and a tripower (3X2) setup. But I bumped my Haggerty policy to cover the cost. ( not my labor time, just cash outlay). Its a heckuva lot less than 40G's! ( like 65% of that).

But as I said above, theya re restrictive policies. If the car was lifted out of a mall parking lot, with no car show going on, you *might* have a problem with the claim. The benefit is, you insure the car for what its worth ( or in my case, teh cost basis).

To mainatin a 26K value policy for tmy CHevelle is around $220/yr and that includes their "AAA-type" service, since I dont trailer the car, I do crazy things like drive it to Nashville and then race it.

Like most have stated above, mileage restriction, send pictures before insured, garaged, age limits. There are some fantastic rates BUT read the "exclusions" page before sending $$'s. Make sure the terms fit what you are doing with the car.

Since two of these will definitely stay below 5K per year, I took a look at it.

The restrictions are quite severe. Not only can you not commute with the vehicle, but, you cannot take it to any "destination". You cannot take it on a trip.........can't go to a store..........cannot go to another person's house.

All you can do is to take it on a drive with no destination.........or drive it to a car show.

The cost is negligible...........but.........I forsee these people denying coverage at the slightest hint of a policy violation.

I have Hagerty and don't believe they are all that restrictive. For one thing they have no specific mileage restrictions. The fact is they only want you to use the car for pure "pleasure driving" or for service or collector events. This is the wording on their website: "Drivers can enjoy their classics with comfortable limits. Our policy allows for an occasional leisure drive, not just to parades or car events." No daily commuting and no regular errands. They also require that you have another daily driver with insurance coverage at least as good as what you buy from them (in other words the liability limits must be at least the same or greater).

I do like the fact that they only charge for one liability charge regardless of how many cars you insure with them. It makes perfect sense since you can't drive more than one at a time so it does not really matter if you have 1 car or 10 insured for liability. It's a scam the "regular" insurance companies don't want you to think too much about.

You've confirmed exactly what I stated above.

Pleasure driving is driving without a destination in mind. I specifically questioned them about it until they finally gave the true understanding of the statement.

It's deceptive advertising and it will snag people who believe that they are covered........when, in reality, they are not.

What if you "just happened to be in the neighborhood" :D

Somebody said "Insurance companies are in the business of NOT paying on claims," contrary to what their ads may say. Sometimes it certainly seems that way.

It reminds me of antique tags here is MS. I see a lot of beaters driving around with them and I know for a fact there are some very strict limitations to those tags - but probably not enforced.

So, do you guys who have classic car insurance also have regular auto insurance on your other car(s) with another company? How does that work?

disconnect the odometer ^_^

Unless you get caught, whereupon you're in felony land.