SpecialtyConcreteCoatings

I looked into collector car insurance and it was worth it. I ended up going through a broker, but I believe the policy is written by Leader Insurance (finalizing tomorrow).

Limits: $50/$100k
Collision: $100 deduct
Comprehensive: $0 deduct
Agreed Value: $15,000

Here are the restrictions:
- Max 5,000 miles per year
- Must have had your driver's license for 10 years
- Car cannot be used to drive to work, errands, etc
- Must have a separate daily driver
- Must be stored in a locked garage or similar
- All car glass is not covered. (uhh....okay.)

This is probably the only time I've ever been pleased with my policy. I'd recommend all to look into collector car policies.

Dan87951

"Car cannot be used to drive to work, errands, etc"

What does the etc mean? Shoot does it cover taking the car for a drive to enjoy?

SpecialtyConcreteCoatings

My understanding is that it's just not to be used as a daily driver. Joy rides are covered. How they differentiate between that stuff I have no idea. I'll quote that part when I get my policy.

SD Porsche Fan

I have a very similar policy with State Farm with very similar premiums.

What wheels are those?

82-T/A

I don't know if this will help, but I have collector insurance on my Pontiac Fiero, my 81 Trans Am, and my 73 Volkswagen Bus.

They are all on shared policies, but I can give you the specifics on my VW Bus.

I pay $58 dollars a year. This includes the same limits you do, no deductables, and an agreed upon value of $7,500 dollars.

This is through American Collector Insurance.

I am 29 years old, married, a computer programmer (believe it or not, your career plays a role in your insurance premiums), and have "Safe Driver" on my Florida drivers license (although I really think that's a stretch... it just means I haven't been caught).

My restrictions are like yours, but they JUST don't want me to take it to work (that's it). It also has to be in a locked garage when not in use, and my mileage limitation is 1,500 (that was by choice since honestly, I drive it less than 100 miles a year).

So, I don't think it's such a bad deal, but I think you're 5,000 mile policy is what really increases the price. That's almost half of what a daily driver gets, so that's probably why it's substantially more than what I pay.


Todd,
2006 Pontiac Solstice
2004 Volkswagen Beetle Convertible (Wife's)
2002 Ford Crown Victoria LX-P74
1987 Pontiac Fiero SE / V6 (3.2)
1984 Porsche 944
1981 Pontiac Trans Am WS6 (Olds 455)
1973 Volkswagen Type-2 Transporter (1800)

philcav7

Good point...

If you're not to use the car for work, errands, etc, how would one rack up 5000 miles during a year? That would be a lot of car shows.

I have a Hagerty policy too. I am cautious about what actually is/isn't covered.

What is better:

Paying $900 a year for a policy that will give you book value for your car ($6000) after an accident

Paying $350 for a year for a $15,000 policy that may not cover your accident unless the car is locked in the garage.


Has anyone here ever filed a claim with Hagerty or others on a non "garage queen" car? What is your experience.

82-T/A

You bring up a great point too...

I don't think there is really any way to tell exactly what you were doing that day. I would expect that if it came down to it, they would check a few things:

1 - Mileage (to make sure you're not over the alloted)
2 - Time of day (to make sure you weren't driving it to work)


I did ask them to explain, and American Collector Car insurance was pretty good about it. They stated that they simply do not want you to use it as your primary means of transportation. They don't want you to drive it to work (so as to prevent you from driving it during rush hour). That was really their only issue. They told me that they would prefer if we did NOT use it to go on errands (grocery shopping, home depot, etc...), but that it wouldn't be a deal breaker. They said I can take it out of state to car shows, or even drive it around the country (so long as I'm in my alloted time).


Todd,
2006 Pontiac Solstice
2004 Volkswagen Beetle Convertible (Wife's)
2002 Ford Crown Victoria LX-P74
1987 Pontiac Fiero SE / V6 (3.2)
1984 Porsche 944
1981 Pontiac Trans Am WS6 (Olds 455)
1973 Volkswagen Type-2 Transporter (1800)

76 911s

Ha here in BC they specify that you can't drive "to or from" or "part way to or from" work/school and that collector insurance is for "pleasure use only." I told my insurance broker that every drive is a pleasure and walked out the door...

apierce918

i had that on my car, it was 3k miles a year, everything same except i didnt have to have my lisence for 10 years.

and my odometer was broke so i drove it everywhere 237$ a year