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  #1  
Old 03-19-2007, 11:55 AM
derburger's Avatar
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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!
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  #2  
Old 03-19-2007, 12:00 PM
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mmmmmm Diesel...
 
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You may be forced to just tough it out.
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  #3  
Old 03-19-2007, 12:02 PM
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most classic car insurance require it not to be a daily driver and under 5000 miles per year also
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  #4  
Old 03-19-2007, 12:02 PM
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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?
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  #5  
Old 03-19-2007, 12:03 PM
Gene
 
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I have my old Chevelle with Haggerty. I'd give them a huge 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!

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.

Last edited by WINGAS; 03-19-2007 at 12:08 PM.
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  #6  
Old 03-19-2007, 12:06 PM
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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 $$'s. Make sure the terms fit what you are doing with the car.
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  #7  
Old 03-19-2007, 12:20 PM
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Quote:
Originally Posted by TX76513 View Post
Like most have stated above, mileage restriction, send pictures before insured, garaged, age limits. There are some fantastic rates BUT read the "exclusions" page before sending $$'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.
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  #8  
Old 03-19-2007, 12:46 PM
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Originally Posted by Brian Carlton View Post
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.
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  #9  
Old 03-19-2007, 12:57 PM
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Quote:
Originally Posted by nhdoc View Post
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.
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.
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  #10  
Old 03-19-2007, 01:03 PM
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Quote:
Originally Posted by Brian Carlton View Post
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.

What if you "just happened to be in the neighborhood"
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  #11  
Old 03-19-2007, 01:10 PM
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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.
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OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 25,000 miles
2002 C320 Wagon 113,000 miles
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  #12  
Old 03-19-2007, 01:29 PM
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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.
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  #13  
Old 03-19-2007, 02:27 PM
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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?
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" The market, like the Lord, helps those who help themselves. But, unlike the Lord, the market does not forgive those who know not what they do."- Warren Buffett

OBK #55

1998 Lincoln Continental - Sold
Max 1984 300TD 285,000 miles - Sold
The Dee8gonator 1987 560SEC 196,000 miles - Sold
Orgasmatron - 2006 CLS500 25,000 miles
2002 C320 Wagon 113,000 miles
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  #14  
Old 03-19-2007, 02:30 PM
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Quote:
Originally Posted by captainmonk View Post
most classic car insurance require it not to be a daily driver and under 5000 miles per year also
disconnect the odometer ^_^
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  #15  
Old 03-19-2007, 02:48 PM
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disconnect the odometer ^_^
Unless you get caught, whereupon you're in felony land.
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