ROG100

I will never trust classic/collector car insurance again - Used USAA collector insurance. Went to a 928 GTG and left the car on the driveway that evening - small hail shower left about 6 dings. They refused coverage because the car was not in my garage. The car must be under cover at all times unless being driven to a show or GTG.
Question - what happens if the car gets damaged while I wash it on my drive? Answer - You are not covered!!!! Very specific - either in the garage or being driven - no in between.
All my cars are fully insured now with a normal policy - expensive yes - covered yes.

XS29L9B

But in the case of a total loss, what's the value?

With collector policies, they pay an agreed value vs./ their stated value.

Only thing more expensive, is regret. I have collectors insurance, and no worries.
I also don't have USAA either, as they were not competitive at all. Really odd, as I would have thought service... Anyways...

GeorgeM

I just made the move from regular to collector insurance yesterday. I've been researching for the past few months and ended up going with NCM. Their rates were not quite the lowest (very close though), but I found that they were the least restrictive.

Roger's comments re: USAA are right on and that's why I didn't go with them. I've been a USAA member since 1988 and on my folks USAA policy since I got my license, so I wanted to stay with them, but way too restrictive. It didn't help that the rep I spoke to was rather argumentative when I challenged some of their restrictions.

I drive my cars to work occasionally when I don't have a chance to drive them otherwise, and NCM has a provision for that called the 9-to-5 Endorsement... perfect for my situation.

The premium for all 4 cars in my signature ended up being $200 more than my normal USAA policy but with agreed value coverage in addition to the collector car extras they throw in, like spare parts and trip interruption coverage.

Now I'm just just waiting for the phone call from USAA asking my why I just removed 65% of the vehicles from my policy.

Tom in Austin

Not sure what cars you guys drive, but I got a lot of pushback about needing the car to be at least 25 yrs old. Finally got my '94 covered with JC Taylor.

IIRC the National Corvette guys have a coverage option that lets you use the car occasionally for regular driving.

Petza914

I have both my '74 914 & my '79 928 Spyder covered with Hagerty. Agreed values are $26k and $75k respectively and we're based on very detailed descriptions for the different categories of the application form along with an itemized spreadsheet for each that shows every $ in the car from the start of each restoration/upgrade project.

I tried all of them to get Agreed Value Coverage on my "Tuner" 2005 RUF 997 but was unsuccessful since my newest DD car is a 2004 and it has to be no more than 5 years old. So it has regular coverage with Travelers but with an addendum listing the value at $130k along with another itemized spreadsheet. That's the one I'm most concerned about in S total loss accident as I'm pretty sure it would be a fight with them.

I'll try to move it to Hagerty again in 2020 when it's 15 years old.

Want to be

Classic insurance with Farm Bureau insurance.
Value set at 7500, 5k miles per six months but they never confirm miles. $68.00 every six months.

GeorgeM

That's in line with what I got with NCM (Nat'l Corvette Museum) for my '84 GTI valued at $10K.

It's my '84 930 that's bumping the numbers up. Have you seen Hagerty's numbers on those lately? Looks like I'm already underinsured at a buck and a quarter, and I just got the darned policy last week!

Want to be

Yes I am away because I'm support a sale of a 79 turbo with a rare moonstone color. Possible the only turbo ever painted in this color.

Your turbo is valuable.