Classic Car Insurance - Page 2 - PeachParts Mercedes-Benz Forum

nhdoc · #16 03-19-2007, 03:26 PM

Quote:

Originally Posted by Brian Carlton

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.

I'll do some reading of the actual policy wording later but I have to believe that if these guys regularly used tricks to get out of paying claims there would be all sorts of horror stories about them on sites like this. I've also checked on the BBB website and they are members of the BBB with no complaints in the past 36 months.

Most people have nothing but kind words and while I'm sure most have also never made a claim they feel covered if they do. For me the coverage is exactly what I need...just to move the cars from storage to my garage to work on them, to car club events and for the occaisional Sunday drive to no place in particular. For that I think I am covered...for those who try to stretch the intent of the insurance, who knows?

Stevo · #17 03-19-2007, 03:36 PM

I have Hagerty on both my "keeper" 240Ds. Its quite cheap, but the really good thing is that includes 'collision for what the cars are worth, 6 K each (IMO

) There is NO limit on the miles per year, but they cant be used as a daily driver to work or school which they are not. My wife drives her Toyota van for school. (teacher) which is insured along with my truck with a regular co. Hagerty saved me a bundle.

F18 · #18 03-19-2007, 05:12 PM

I have always carried "Classic Car" insurance through Grundy on all my "hobby cars" over the years. Currently have it on the Austin Mini. The vehicles have to be appraised by a certified appraiser and the policy is set and can be updated periodically based on agreed value and additional investment.
I have no mileage restriction as long as it is used for pleasure/hobby and not transportation........ie they do not want to know it was hit sitting in the parking lot at Walmart while you are shopping or damaged in a commute to work.
But if I ran it down a bog road and pretended I am in the Monte Carlo Rally on a Sunday morning.....the brakes fail and I take out someones white picket fence.....I am covered with both collision and liability.

pmari · #19 03-19-2007, 05:49 PM

I've looked into Grundy's and it was the least restrictive.If you have another car with regular insurance and claim it's the daily driver. They have a few options to choose from.

Hatterasguy · #20 03-19-2007, 07:16 PM

The problem with classic car insurance as Brian said is you can't drive the car anywhere, school, work errands not happening. You could of course just say screw it hope nothing happens and if it does try to be slick. But insurance companies are very good at dennying claims, so chances are you will end up paying out of your pocket.

Get regular insurance and tough it out. I have been paying $200 a month for car insurance since I was 17, it just droped down a year ago to about $150 a month.

It sucks being young the rape you nothing you can do about it, oh don't get tickets! God help you if you get a few tickets, one guy I knew in high school was paying $400 a month after a few massive speeding tickets.

nhdoc · #21 03-19-2007, 07:29 PM

I just pulled out my policy with Hagerty and read it. The policy is really not all that restrictive in its wording. There is no mileage limit at all.

It defines "classic" and "antique" cars the same; as a motor vehicle that:

1. Is maintained primarily for use in car club activities, exhibitions, parades, other functions of public interest or for a private collection; and
2. Is used only infrequently for other purposes.

Their only exclusions to coverage that are really serious have to do with cars that are used for any income related purposes or being raced, which is certainly understandable given the intent of this coverage. If you don't rent the car out, charge people to carry stuff or passengers or race the car you're pretty much covered as long as you don't use the car as a daily driver. Actually, I'm pretty sure those same exclusions apply to every car insurance policy I've seen IIRC.

The term "used only infrequently for other purposes" is so vague that it basically lets you use it for any purpose except for routinely using it for normal, daily activities of life such as commuting or shopping...even those activities, if you only used the car "infrequently" for them would fall under the allowance of "other purposes". To say you would not be covered if you drove to a particular destination is completely rediculous unless you did it regularly and routinely.

Tymbrymi · #22 03-19-2007, 07:50 PM

Quote:

Originally Posted by TX76513

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.

I would love to know those restrictions. I have never been told of any and have been pulled over many a time (I drive fast

) with no ticket or comment from the officer. This document on MS's website doesn't seem to list any either (this could be entirely from their poor layout, and me not being able to find the restrictions)

http://www.mstc.state.ms.us/mvl/Laws/HTML%20Files/27-19-47.pdf

Who knows... either way I still like mine

pmari · #23 03-19-2007, 11:51 PM

I don't want to turn this into a commerical, but let me try to clairify my previous post. Right from Grundy's site....

"Just send pictures of your car. If we agree on the value, and if you lose your car, then that "agreed value" is the amount you will receive!" There is no depreciation, and as previously mentioned, and there are no questions asked. As always, when insuring a classic car with Grundy, there is no mileage restriction on your street rod, classic, or antique car! Owners can drive their cars as far as they want and as often as they like, with the only restriction being that the car can't be used for general everyday transportation. In other words, it can't be your daily driver."

So if you have another car that is insured as your "daily driver" that's all ya need. You can drive it to work, etc....

signalredcoupe · #24 03-20-2007, 09:15 AM

Has anybody ever looked up Sneed Insurance? I found it while on Miata.com. They insure all Corvettes, Cadillac Allantes, Impala SS from the 90's , Miatas from 2000 & down & all others that are 11 years & older. No mileage restrictions. Drive anywhere, anytime. Can't be a daily driver. My Mercedes was $137 a year. Paul.

Jim W. · #25 03-20-2007, 09:43 AM

We have considered classic insurance but have stuck with our regular insurance company. We have a multi-car discount and packaged with homeowners insurance. We have full coverage on the classic with the same values and coverages as our daily drivers for $327 per year. The rate is dependent upon claims history, driving record, credit record, car value, brand, model, etc.

Jim W.

vstech · #26 03-20-2007, 09:48 AM

jim, the problem with standard insurance on a classic vehicle, is you will not get much from the insurance company for your vehicle in the event of an accident or loss from theft. it will be classed as an old car with high miles and you will get a pittance.
JMHO.
John

signalredcoupe · #27 03-20-2007, 10:09 AM

That's basically it with these old cars. You have to do all sorts of jumping through hoops to prove what your car's worth if & when it's totalled. If you've restored it, you should have pictures & receipts & even then it might not matter. What I liked about Sneed's quotes was the minimum value they would insure anything was $7500. They require pictures. The car must be mostly restored or in excellent condition more or less. Paul.

F18 · #28 03-20-2007, 10:26 AM

Quote:

Originally Posted by vstech

jim, the problem with standard insurance on a classic vehicle, is you will not get much from the insurance company for your vehicle in the event of an accident or loss from theft. it will be classed as an old car with high miles and you will get a pittance.
JMHO.
John

John, you hit it right on! Standard insurance "pay out" on a vehicle is based on its depreciating value at any one point in time. If the car is truely a classic car that is your hobby vehicle then "Classic Car" insurance treats it like an investment and covers it's agreed value through the life of the policy. The value can be increased as you invest more in parts, restoration and improvements you make. I have exercise that feature on a few of my project cars. The work has to be varified by an appraiser. More importantly you also get liability coverage along with the collision coverage.

It would not be worth it to have your wages garnered for the rest of your life because you tried to pull a fast one and save a few bucks by insuring a "daily driver" as a "Classic Car" and then finding out that the insurer will not cover you when you have an accident and get sued. ........Its insurance fraud in any court!
Be careful!

vstech · #29 03-20-2007, 10:30 AM

oh, yeah! using classic for daily duty is crazy! that's for sure. it is great supplemental though! provided you have daily drivers that are insured. ... I think I do.
John

Dee8go · #30 03-20-2007, 01:51 PM

So, pictures plus a receipt for what you paid for the car (say at an auction or something) would be sufficient to establish the insured value of one's car for these classic car insurers? This is very useful info. Thanks for all of your posts.