Insurance?

[typeSblood]

Where is the best place to buy insurance for my 1948 Studebaker Land Cruiser?

[Scotty Bob]

It depends on how you want to insure it. If you go through the appraisal process, you need to use a professional appraiser whose findings the prospective insurance company will accept...that will give you the information you need to obtain a stated value policy...a policy that promises to pay you a price based on the appraiser's "stated value".

Or, you can take your chances and insure the vehicle for ACV, or Actual Cash Value, an insurance term that is based loosely on market value...the settlement process can be a bit messy in these instance, especially in soft markets.

Antique and collector vehicle insurance companies often-times limit the policy to parading, driving to and from shows, etc.

Hemmings is full of ads from Antique and Collector Vehicle Insurance Companies. Your brand-name companies- State Farm, Allstate, Farmers, etc. will either write you an ACV policy, or refer to their general agencies who will get you in touch with a specialty company that can fulfill your needs.

I am only brushing lightly on this topic here...I have been in Auto Insurance Claims for 30 years...I have been on the serving and receiving ends of claims of all types, good and bad...

[rockne10]

A recurring question on the Forum.
If you use the "Advanced Search" feature in the upper right corner of this page you will find numerous threads with varying opinions and advice.

I still have mine with State Farm but, there are a number of factors that can influence your decision.

[poweroptions]

Type S, I have American Modern Insurance out of Cinncinatti Ohio. For the past 15 years they have covered my 3 Lincolns, Thunderbird convert and 52 Studebaker Champion. They do have limitations on miles, usually 3000 per year per vehicle and require they are in a locked garage when not driven. They did not require any apprasial and accepted my valuation of the vehicle. My policy is 0 deductible and that covers everything. The one Lincoln had a rock thru the windshield a year ago. American Modern accepted the estimate from my garage via fax and I had a check in 2 days for the full amount. NO HASSLE at all and it wasn't a cheap windshield either. When a tow cable broke on a wrecker towing my 4door convertible Continental in Dallas letting the car drop and freewheel in Dallas traffic, it wasn't pretty. They had a check for $6,000 in damages to the best body shop in Dallas in a week. All I had to do was supply pictures and the accident report. AGAIN NO HASSLE and instant payment. All five cars are covered fully for about $350.00 a year total. I highly reccommend them !!

[brian964]

In my experience it is cheaper getting quotes online. Some of the bigger companies offer discounts when ordering online, because it is less work for them. But to be safe you could compare quotes online, pick the best offer and try a local agency to see if they can match it or do better.

I recommend this site for online comparing: http://www.quotes-center.com/auto-insurance-calculator

[jcluvsu]

I have two antique cars and both of them are insured with Haggerty. Haggerty saved me bunches of money. My Allstate guy got me hooked up with them. Haggerty is at a lot of car shows. They insure mostly show cars and antique vehicles.

I paid $140.00/year on my 62 GT full coverage for 8000 miles/year driving. Car valued @ $15,000.00

[JBOYLE]

It pays to compare. I just renewed my insurance and for fun I got a email quote for my Avanti.
One outfit (Haggerty) was 50% higher than the one I was already with. Years ago, I tried them on my other car and got similar results. All with the same coverage and value.
Considering my car's recently completed restoration I increased its value a great deal....YOUR value has to be within broad price guidelines...which my Avanti was. (I'm guessing to prevent someone insuring a 30K car for 100k...then having it "stolen").
And they'll want fresh photos....especially when you increase its value due to a restoration. (I've got to do that when my car is delivered to me).

If the car is modified, that can complicate matters...depending on value you want, they may want an appraisal.
Also, one of the big firms did not insure modified/custom cars in my state.

[okc63avanti]

Here's my recommendation ... American National Property and Casualty (ANPAC) Chrome Policy: http://www.anpac.com/products/p_c/chrome/default.aspx

• Agreed Value Coverage - If your specialty car is determined to be a total loss, CHROME will pay you the vehicle's value as shown on your policy, less your deductible.
• Generous Annual Mileage - With CHROME coverage, you can enjoy driving your specialty vehicle up to 10,000 miles annually.
• Roadside Service and Flatbed Towing - Mechanical breakdown? Lock your keys in your car? CHROME provides you with free roadside assistance and flatbed towing** (where available).
• Repair Facility of Your Choice - If your specialty vehicle is damaged, you decide which repair facility will restore it.
• $1000 Spare Parts Coverage - CHROME gives you up to $1000 in coverage for loss to spare parts that you own for your specialty vehicle.

I have my 63 Avanti, my family fleet of brand X drivers, home and an Umbrella liability with this company. I am not an agent nor am I in the insurance business. I'm just a satisfied customer after 11 years with this company.

[Warren Webb]

Auto Club of Southern California has an antique car policy with stated value. I have my 60 Lark insured with them now. Check with your local Auto Club office since ACSC covers some other states too.

[typeSblood]

Thanks for all the good information, Scotty Bob. I'm in the process of restoring my 1948 Studebaker right now, and I have it insured with Liberty Mutual. They want $446 a year for a policy on a car that isn't worth very much yet.

[typeSblood]

I will definitely check on American Modern Insurance. Your description of their service was very compelling.

Joe

[typeSblood]

Brian,

I will check out the website that you gave me. Thanks for taking the time to answer.

Joe

[typeSblood]

Thanks for the information about the American National Property and Casualty Chrome Policy. I will definitely check that out today. And also, thanks for taking the time to answer.

Joe

[JRoberts]

Here's my recommendation ... American National Property and Casualty (ANPAC) Chrome Policy: http://www.anpac.com/products/p_c/chrome/default.aspx

• Agreed Value Coverage - If your specialty car is determined to be a total loss, CHROME will pay you the vehicle's value as shown on your policy, less your deductible.
• Generous Annual Mileage - With CHROME coverage, you can enjoy driving your specialty vehicle up to 10,000 miles annually.
• Roadside Service and Flatbed Towing - Mechanical breakdown? Lock your keys in your car? CHROME provides you with free roadside assistance and flatbed towing** (where available).
• Repair Facility of Your Choice - If your specialty vehicle is damaged, you decide which repair facility will restore it.
• $1000 Spare Parts Coverage - CHROME gives you up to $1000 in coverage for loss to spare parts that you own for your specialty vehicle.

I have my 63 Avanti, my family fleet of brand X drivers, home and an Umbrella liability with this company. I am not an agent nor am I in the insurance business. I'm just a satisfied customer after 11 years with this company.

Does this company require that the insured vehicle be stored in a locked building?

[stall]

I think that "Agreed Value" is the most important item to get on your policy.

Here's my recommendation ... American National Property and Casualty (ANPAC) Chrome Policy: http://www.anpac.com/products/p_c/chrome/default.aspx

• Agreed Value Coverage - If your specialty car is determined to be a total loss, CHROME will pay you the vehicle's value as shown on your policy, less your deductible.
• Generous Annual Mileage - With CHROME coverage, you can enjoy driving your specialty vehicle up to 10,000 miles annually.
• Roadside Service and Flatbed Towing - Mechanical breakdown? Lock your keys in your car? CHROME provides you with free roadside assistance and flatbed towing** (where available).
• Repair Facility of Your Choice - If your specialty vehicle is damaged, you decide which repair facility will restore it.
• $1000 Spare Parts Coverage - CHROME gives you up to $1000 in coverage for loss to spare parts that you own for your specialty vehicle.

I have my 63 Avanti, my family fleet of brand X drivers, home and an Umbrella liability with this company. I am not an agent nor am I in the insurance business. I'm just a satisfied customer after 11 years with this company.