View Full Version : insurance question

07-10-2006, 06:01 PM
I got alot of questions about Studebakers Im new to them just discovering them . How much is the cost of Insuring a Studebaker. I live in Canada and any info would be great

07-10-2006, 06:47 PM
What part of Canada you from? Out here on the east coast almost,if not ALL collector cars (20 years old and older) are insured through Gary Steeves,Silver Wheels plan,from Hillsbourough New Brunswick. Garys a collector car nut himself and has the highest reputation for excellent rates,no mileage restrictions,agreed appraised value,and prompt payment of claims. Ive been with him for as long as Ive had collector cars,which is shortly after I was born. Im not sure what my 60 Hawk alone will cost,but last year I had it and two other Studes,a 56 Transtar and a 62 Lark,and I had full coverage(collision,comprehensive,all perils,glass) for about 350 dollars/year. Thats for all three! Since I sold off the Lark and the truck he refunded me nearly half that premium. Garys office can be reached at 1-800-692-8482,I don't think he can be beat in any way.

07-10-2006, 09:02 PM
Most insurance companies will also insure 'work-in-progress' cars. Even a car in the garage is worth something...

Tom - Lakeland, FL

1964 Studebaker Daytona

Michigan Speed - www.michiganspeed.com
Club Hot Rod - www.clubhotrod.com
LS1 Tech - www.ls1tech.com

07-11-2006, 06:53 AM
That is a bit of a problem. The company I told you about only insures any new aquisitions to your fleet for 30 days,in which time you are to have it appraised by an appraiser that they use(there are several). Its been my experience that when the guy shows up and all you have is a shell and a pile of parts hes not going to write a very high apprasil,even though its the beginning of a 57 Golden Hawk. So after you finish the car you have to get him back to do it again,at 100 bucks a pop.

07-11-2006, 08:51 AM
If you are in Ontario I also use the Silver Wheels plan and it is availale through Lant Insurance. Same terms as Transtar56 and this year I paid $148 for my 55 Champion Sedan.

07-12-2006, 10:20 AM
I don't know if State farm operates in Canada but they are great ! Most flexible on mileage , when and where driven and price ![8D]

07-12-2006, 10:57 AM
State Farm is here,I used to be with them untill I was kicked out. Why? Because the girl I was living with at the time got a DUI. I didn't do anything,but they cancelled me anyway because I was "living under the same roof as a covicted drunk driver"
F#$@-State Farm

07-12-2006, 12:07 PM
As to State Farm, I'd been with them on collector car coverage (until I sold the car) and their premium rates in the US were great anf I often wondered how they could insure a vehicle with full coverage so cheaply. Never had a claim against them on the car except a windshield several years ago. Rumor had it that State Farm is hard to collect on if you have a loss. I'm wondering what actual experiences people have had with them. Any comments out there? Is their collector car coverage worth a hoot?

wagone and the R2 Avanti

07-12-2006, 12:21 PM
I was driving my 51 Champion on March 4, 2005, when an old goat pulled out and hit me [V] the accident was wittnessed by a police officer, who ticketed the driver that hit me ;) This guy was insured by State Farm [xx(] They actually paid the full repair cost ;) and it only took them until Monday of this week July 10, 2006 to do so.

Studebaker Fever
60 Lark
51 Champion
Arnold, Missouri

07-12-2006, 09:24 PM
Since we've had some books advertised for sale written by our fellow Studebaker buffs that seem to be doing pretty well, I think that someone could also compile and market a book entitled: "Ways State Farm Has Xxxxed People!" It would probably be a very lengthy volume. I don't know if you would classify it as a work of Humor, or a collection of Horror stories.

07-12-2006, 10:04 PM
About 15 years ago I had a Nissan 300Z insured with State Farm. Good rates, good local service from the agent, but I never had a claim.

On the other hand, my wife was 7 months pregnant and sitting at a stop sign and was sideswiped by a tractor trailer rig contracted out to Kroger that was turning into a shopping center. She had seen him coming and was stopped 10 feet behind the white line and was 3 feet inside the double yellow line. The bottom of the trailer creased the Explorer at belt level and knocked out all the windows and he only stopped when he noticed that the car was being dragged backwards by the rear tires on the trailer.

After much digging I determined the hauler was insured by St. Paul. Without ever sending anyone to the accident scene they denied the claim and declared that my wife was contributorily negligent because she failed to yield the right of way to the truck and didn't honk before he crossed into her lane and hit her. I went all the way to the SVP of claims and never got a cent.

I then filed a complaint with the state Bureau of Insurance for unfair claims practices (they ignored the BOI's request for information). I ended up suing the driver and hauler and reached a favorable settlement with St. Paul and they never asked for the car or title. I turned around and got an extra $2K from a rebuilder for the car. Not a pleasant experience and I think that many of my daughter's medical issues are related to the stress that was inflicted on my wife by St. Paul's refusal to pay.

Guido Salvage - "Where rust is beautiful"

1946 M-16 fire truck
1948 M-16 grain truck
1949 2R16A grain truck
1949 2R17A fire truck
1955 E-38 grain truck
1957 3E-40 flatbed
1961 6E-28 grain truck
1962 7E-13D 4x4 rack truck
1962 7E-7 Champ pickup
1962 GT Hawk 4 speed
1964 Avanti R2 4 speed
1964 Cruiser
And various other "treasures"
Hiding and preserving Studebakers in Richmond & Louisa, Va.