Got a quote from American Collectors Insurance for my '88 944. Price for full coverage was so cheap it seemed unbelievable. Anyone have any experience with this company?

 

Did you check the mileage and or driving limitations? When I looked into these they all had restrictive mileage limitations. Some only allowed driving to and from car shows. Another common requirement was a new model fully insured and registered car for each licensed driver in the house to make sure the car they would be insuring was not the primary vehicle. So make sure you read the small print.

 

I pay about 150 per year, historic policy IIRC - agreed value. Farm Bureau. Its mileage limited but I barely drive the car anyways.

 

I have 4 cars on classic insurance, 3 are with AAA ('86.5 928, '81 928, '73 914) there are mileage limitations (5k/year) that is never even closely reached and agreed value of 15k, 10k, 10k. Cost is $251/year for all. They since changed policy and would not insure new '86.5 so went with haggerty at $271/year at 20k agreed value. You do need to read small print for restrictions they impose and do need a daily driver insured.

 

The fully insured daily driver requirement is understandable for most areas but for those of us in NYC and other metro areas where daily driving is absolutely impossible and storage for additional cars is unavailable it is an onerous and unreasonable requirement.

I've never found a company that doesn't require them. Additionally, since I'm married, my wife (who can't even drive stick, either!) is also required to have a daily driver.

That's a requirement of THREE cars for two people in NY. I have two (944 and W124) but man, the underwriters are crazy. I tried engaging a representative from Grundy in logical conversation about this but he eventually said, "that's the way it is, nothing I can do about it."

 

7,500 mile limit, 250 deductable, agreed value $180 a year

 

I have used American Collectors for several years. I have had to make a couple of claims and had no problems with them. I like the agreed value. It is a must and makes the insurance more valuable than regular insurance that costs much more.

There are restrictions, but the reason it is so cheap is because it is intended to be insurance for a hobby car and not a DD. If it were not for this type of insurance, I don't think I would own a hobby car.

 

American Family has a similar policy. They require one fully insured daily driver per household, not per driver and there are no milage limitations. I currently pay about $200/year for a 930 Turbo with an insured value of $45,000

 

Shopping for new as we speak. Thanks

 

That's great!

Are there restrictions on the policy? How tight?

*edit* ah, AmFam is not available in NYS.

 

You might want to check out Met Life. They have a collector policy that is less restrictive and still affordable. However, it is not an "agreed" value policy and instead is a "stated" value policy. Stated value is not nearly as good as the agreed value.

 

Hi,
I talked to American Collectors and they sound like a good option. However, they only allow for occasional drives on nice days and to car shows, and the like. Even driving to visit friends for overnight stays seemed frowned upon.

May I ask what was the cause of your claim and did they challenge you on it?

 

I had one claim for a broken windshield. They didn't question my activities or why I was out or how I got the crack. The second claim was a hit and run when I was at the auto parts store. They had no problem paying the claim, but did ask where the car was and the purpose of my trip.

They also wanted to know where the car was parked at night since it is a requirement to have the car in a locked garage. They asked for pictures of the car in the garage. I have a post and beam shed with a dirt floor that holds my car. It barely meets their requirement. After I sent in the pics, I assume they were satisfied since I haven't heard any more.

I think they wanted to verify the requirements for the policy were met. Their questions about the garage came after the claim had already been paid. I think they would have cancelled me if they thought the car was not a hobby car as defined by their requirements. However, I never felt they would deny the claim.

 

Did that new model, have to be insured by the same collector car insurance company?

 

Try Grundy. Agreed value and they say pleasure use only...No commuting and no errands. Must be garaged. My 924s is 75 a year! Can't beat it.