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Lark Ken
07-08-2016, 02:46 AM
Perhaps this question has been asked previously but what insurance company do you recomend for your classic Studebakers? I have looked at several insurers but Hagerty seems to be offering a great deal. $100,000 liability, no deductible for collision or comprehensive.
a $5000 valuation on the car. What has your experiences been with classic and collector car insurance companys. Any recomendations for companys. Good or bad.

M15 Trucker
07-08-2016, 06:43 AM
I like Hagerty that's who I'm insured with. They don't have restrictions on where you drive your car nor on the amount of mileage you put on it in a year.

Ron Dame
07-08-2016, 07:16 AM
Hagarty has a good reputation, and has loosened some restrictions, such as using a truck to carry stuff in. I use them

JoeHall
07-08-2016, 07:30 AM
I like Hagerty that's who I'm insured with. They don't have restrictions on where you drive your car nor on the amount of mileage you put on it in a year.

Are you saying they allow you to drive your Stude to commute and from work and/or school? How about running errands, such as going to the grocery store?

FleetMaster68
07-08-2016, 07:46 AM
Yes and No on commute to work, errands etc. Technically there are "expectations" mileage under 5-10K year, no more than 30? days a year drive to work etc. They also base things on you having a primary vehicle as well. Hagerty does not require mileage tracking etc, honor system really. They want to encourage people who use their insurance to drive the vehicles. I have never had a claim but hear nothing but good things from people who did. The customer service people are first rate.
Scott K

Blue 15G
07-08-2016, 07:59 AM
I like Hagerty that's who I'm insured with. They don't have restrictions on where you drive your car nor on the amount of mileage you put on it in a year.

This is news to me. I've been with Hagerty for nearly 20 years and I've never seen anything printed in the policy that says there are no restrictions on where you drive it or how much you drive it. Actually, last time I read through the policy it was specific about not driving it anywhere besides a car show, etc.
I guess I had better read my newer policy more carefully, or call them to ask!
I never had to file a claim with them in all these years so I can't speak to their claim handling procedures,
I did call them once about 15 years ago to ask if I could drive the car to work one day since I was taking it to a repair shop that was just blocks away from where I worked at the time. The rep I spoke to at the time nearly had a coronary when I asked about it; put me on hold to talk with his boss, etc. He finally came back on and said ok, but it had to be kept in a locked and secured area the entire time it was there.

Stu Chapman
07-08-2016, 08:00 AM
In Canada, Hagerty apparently does not require an appraisal. However their premiums seem to somewhat higher than does who do.

Stu Chapman

JoeHall
07-08-2016, 08:19 AM
This is news to me. I've been with Hagerty for nearly 20 years and I've never seen anything printed in the policy that says there are no restrictions on where you drive it or how much you drive it. Actually, last time I read through the policy it was specific about not driving it anywhere besides a car show, etc.
I guess I had better read my newer policy more carefully, or call them to ask!
I never had to file a claim with them in all these years so I can't speak to their claim handling procedures,
I did call them once about 15 years ago to ask if I could drive the car to work one day since I was taking it to a repair shop that was just blocks away from where I worked at the time. The rep I spoke to at the time nearly had a coronary when I asked about it; put me on hold to talk with his boss, etc. He finally came back on and said ok, but it had to be kept in a locked and secured area the entire time it was there.

Reading on-line, that's how all the classic car insurances work, kinda hand-in-hand with, "historic" license plates, available in some states. The classic insurance and plates are cheap, but only a good idea if you plan to operate within the severe restrictions, which specifically state no commuting to work or school no errand running, etc..

They pay well on claims, but the only claims I have ever heard of were for fire, flood, fell off a trailer, etc.. I have never heard of anyone filing a claim that their classic was keyed in a Walmart parking lot, vandalized in the lot at work or school, in an accident going to/from work or school, or any other scenario where the vehicle was being used outside the policy restrictions.

In Kentucky, if you are caught driving your historic plated car to work or school, you can expect to be cited, probably sooner than later.

Blue 15G
07-08-2016, 08:50 AM
We still have in the family a '79 Dodge pickup in good condition with 50,000 miles on it. It only goes about 400 miles a year now. It has a regular PA license plate on it, and it gets its annual state inspection. Last time I had it at the shop a worker asked me why I don't just get an antique plate for it? It qualified in PA after 25 years of age, and that would exempt it from annual state inspection. The problem with that is, if I went with the antique plate it would prevent me from using it as a regular pickup truck to haul things like dirt, mulch, etc., which is what I use it for (admittedly not too often). Unfortunately, I know some people get an antique plate and then try to use the vehicle on a regular basis. They are in for a rude awakening. And this upsets me because when enough people abuse the privilege of the antique plate, it will mean more restrictions, etc. for all of us legitimate antique vehicle drivers.

Silverplate
07-08-2016, 08:50 AM
I have used Heacock to insure our cars for many years and very happy with them.

sweetolbob
07-08-2016, 09:06 AM
In Kentucky, if you are caught driving your historic plated car to work or school, you can expect to be cited, probably sooner than later.

Same here in Michigan. There have been a couple of examples locally where owners have been cited.

Just as an aside, If you have a blanket policy, be sure your insurance limits meet up with the limits required by the blanket policy or you could be liable for the gap.

I have Condon and Skelly through my insurance rep so that everything matches up on the coverage. I got jiggy last year to look at the costs and coverage of other carriers and none of the big time folks came close to the price I have on my classic cars. Hagerty and most of the others were at least 50% higher than the current policy. Not sure why but I'm not changing.

Bob

T.J. lavallee
07-08-2016, 11:25 AM
I have my 59' Lark with the Hartford along with my other cars, Hyundai and Chevy 1500. They based the Lark's value at $8, 500.00 and there are no driving restrictions. The Lark is certainly no show car but it is road worthy and falls into the NADA classic car values as "Average". It costs me about $450.00 a year. I believe, in my experience, that classic car insurance outfits charge more while offering less. (restrictions) Adding the car to your present auto policy will actually reduce your cost. Insist they use the NADA classic car values guide. The Haggerty guide doesn't even have my 59' Lark Hardtop Regal listed in their value search. That tells me all I want to know.

dusty taylor
07-08-2016, 12:31 PM
I have got my truck insured with grundy for $35,000 and it cost $235.00 a year. We were out driving it one night and the windshield got broke I call then to see what they need so I could get it fixed. They said just have it fixed and fax them the bills and they would pay. I ask them if they wanted pictures and they said no. We got the money in two days.

raoul5788
07-08-2016, 03:42 PM
In Kentucky, if you are caught driving your historic plated car to work or school, you can expect to be cited, probably sooner than later.

That sucks. In CT there are no restrictions on driving a historic plate car, plus they are assessed at $500 for tax purposes regardless of actual value.

JoeHall
07-08-2016, 04:46 PM
That sucks. In CT there are no restrictions on driving a historic plate car, plus they are assessed at $500 for tax purposes regardless of actual value.

Looks like you are lucky to be living in CT! I see CT just authorized their, "Classic Vehicle" plates in 2014. Hopefully, they won't wise up in a few years, and realize they are not making enough money. Below is what most of the rest of use have:
http://thegarage.jalopnik.com/the-real-problems-with-historic-or-antique-license-plat-1705740384

rknight89
07-08-2016, 06:35 PM
I use Hagerty. Never had a claim nor a problem. They asked approximately how many miles per year I anticipated driving and we agreed on a value for the car and I pay less than $300 per year. In no way is the car a daily driver but it gets out nearly every weekend weather permitting. I'll probably put a couple hundred miles on it this weekend. Illinois has 2 categories of antique plates. "Regular" and "Expanded". "Regular" has all the normal restrictions such as parades and shows etc. "Expanded" allows unlimited use from May 1st thru Oct. 31st then reverts to "regular" restrictions from Nov 1st thru Apr 31st. Both choices are MUCH cheaper than standard license plates.

53k
07-08-2016, 08:06 PM
How about a vote for J. C. Taylor? They support SDC in that they advertise in Turning Wheels, full page every month.
I have been with them for at least 30 years (ever since I had a bad experience with Grundy). Never had a claim with Taylor, but have never had any problem getting a miles exception (like when seven couples from our chapter drove 6,000 miles from the East Coast to West Coast and back). Taylor reaction when I told them- "have fun".

Lark Ken
07-08-2016, 11:22 PM
Perhaps this question has been asked previously but what insurance company do you recomend for your classic Studebakers? I have looked at several insurers but Hagerty seems to be offering a great deal. What has your experiences been with classic and collector car insurance companys. Any recomendations for companys. Good or bad.

Thanks for the input fella's. I am still working on buying the car. I go take a personal look-see this afternoon as so far all I have seen is pictures but I like what I have seen and phone conversations with the seller makes the car sound promising.

Dads Baby
07-09-2016, 12:34 AM
Some things need commented on about Hagerty.
Fleetmaster is pretty dang close to being able to be a sales rep. Thank you!
Blue- Thank you for trusting us for so long. Guidelines change. Please call us with your questions. 1-800-922-4050
JoeHall- Clients love Hagerty, even more after a claim, any claim. Big or small. We work with your choice of body shops. If you want to do your own work, we will pay you!
T.J.- Please look again. https://www.hagerty.com/apps/valuationtools/1959-Studebaker-Lark-Regal?id=32573

I am not going to discuss guidelines but if you have any questions, it is best to give us a call. Our car buddies are great, but they probably don't know our products like we do. As far as Liability Limits, we can match what you have on your regular use vehicles, but in most states we can't exceed what you carry. Most Umbrella policies do have a minimum limit that they want you to carry. The one I have requires me to carry at least 500K limits.

My car has been insured with Hagerty for 15 years. I have been an employee for almost 2 years. I am happy as a Lark! :D



(https://www.hagerty.com/apps/valuationtools/1959-Studebaker-Lark-Regal?id=32573)

1oldtimer
07-09-2016, 12:59 AM
Regular insurance through Farmers with a 9k value. I want drive my cars everywhere and daily if I need to. I thought you need to have proof of a regular car insurance for a daily driver as a qualification for collector car insurance also.

raoul5788
07-09-2016, 06:20 AM
Looks like you are lucky to be living in CT! I see CT just authorized their, "Classic Vehicle" plates in 2014. Hopefully, they won't wise up in a few years, and realize they are not making enough money. Below is what most of the rest of use have:
http://thegarage.jalopnik.com/the-real-problems-with-historic-or-antique-license-plat-1705740384

CT has had classic vehicle plates in some form since the 70s.

JoeHall
07-09-2016, 06:53 AM
Some things need commented on about Hagerty.
Fleetmaster is pretty dang close to being able to be a sales rep. Thank you!
Blue- Thank you for trusting us for so long. Guidelines change. Please call us with your questions. 1-800-922-4050
JoeHall- Clients love Hagerty, even more after a claim, any claim. Big or small. We work with your choice of body shops. If you want to do your own work, we will pay you!
T.J.- Please look again. https://www.hagerty.com/apps/valuationtools/1959-Studebaker-Lark-Regal?id=32573

I am not going to discuss guidelines but if you have any questions, it is best to give us a call. Our car buddies are great, but they probably don't know our products like we do. As far as Liability Limits, we can match what you have on your regular use vehicles, but in most states we can't exceed what you carry. Most Umbrella policies do have a minimum limit that they want you to carry. The one I have requires me to carry at least 500K limits.

My car has been insured with Hagerty for 15 years. I have been an employee for almost 2 years. I am happy as a Lark! :D



(https://www.hagerty.com/apps/valuationtools/1959-Studebaker-Lark-Regal?id=32573)

Your post reads like a sales brochure; I am sure y'all are good people, provide excellent service for a niche in the insurance market, settle legit claims promptly, and "clients love Hagerty".

But my question in #4 above regards restrictions, that are important to clarify. You ID yourself as an authorized rep, so I ask you the same question: Does Hagerty (or any other classic car insurance company, you know of) provide coverage for policy holders to use their Studes to commute to and from work and/or school? How about running errands, such as going to the grocery store? "I am not going to discuss guidelines..., it is best to give us a call." sounds evasive, and an attempt to avoid, "putting it on paper". Its a simple, yes or no question, and if you say yes here, I suspect many folks, myself included, will soon be at your doorstep. Soo, yes? No?

Ron Dame
07-09-2016, 07:28 AM
Yes expectations and a need for a primary driver car, but otherwise they've really reduced the limitations.

Yes and No on commute to work, errands etc. Technically there are "expectations" mileage under 5-10K year, no more than 30? days a year drive to work etc. They also base things on you having a primary vehicle as well. Hagerty does not require mileage tracking etc, honor system really. They want to encourage people who use their insurance to drive the vehicles. I have never had a claim but hear nothing but good things from people who did. The customer service people are first rate.
Scott K

Silverplate
07-09-2016, 07:49 AM
I think most classic car insurers have restrictions on driving. I cannot imagine wanting to drive my classic car to the grocery store, mall and maybe even work.

wlfrench
07-09-2016, 10:07 AM
I think most classic car insurers have restrictions on driving. I cannot imagine wanting to drive my classic car to the grocery store, mall and maybe even work.

I have J.C.Taylor and have done all those things with my 62 GT. I bought it to drive it.

lelshaddai
07-09-2016, 10:46 AM
I use Hagerty for all my five current classics. I have used them since 2005. I pay $450 total per year for all five vehicles. They range in value from $5000-18000. You declare the value and send in a pic of the car. Never had them dispute the value yet. They let you increase the value as you put more work into the car. Also have the Extra towing policy that covers up to 150 miles and covers all may cars including my regular cars.)extra $150/year on top of the $450, but has paid for itself) Includes roadside service. I had to have my 2004 Sebring towed 80 miles twice in one week and they did if free. I have have 3 windshields replaced with no questions asked. Always easy to work with. I have driven my cars(the ones that run :) to work a couple of times. Manly had to use the tow service. I have used it about 7 times so far.

E. Davis
07-09-2016, 03:26 PM
I use Heacock for my 3 vehicles. About $300.00 a year for all including towing. Never had any driving restrictions put on by Heacock but Montana state law limits the use with a classic license. However, I drive them where ever and when ever I want and haven't been stopped yet. I've changed my agreed value twice with no problems.

JRoberts
07-09-2016, 08:04 PM
I also use Hagerty. I have never had to make a claim, but do find the price a good deal. I do not drive either of them on a daily basis. When I was shopping for insurance for my Studebakers several years ago, Hagerty was recomended. I asked on of the representatives about the mileage I was allowed to drive them. The reply was that they understood vintage cars need to be driven and that they would not be happy if they were driven to and from work every day, but otherwise no restrictions. I mentioned that I planned to drive them some distances like to South Bend, and other out of state events and was told that if they were antique vehicle events there was no problem. They do expect that insured cars are kept in a locked garage. I aked the represented what happened when the car or truck was at an event that was an overnighter. Not a problem since in is a car event.

Swifster
07-09-2016, 11:05 PM
There are "Agreed Value" policies and "Stated Value" policies. Agreed value pays up to the agreed amount the policy is written for. This is the type of policy that Grundy, Hagerty and American Modern (Heacock) writes. I'll assume J.C. Taylor writes the same type of policy though I've never dealt with them.

As for Stated Value policies, the restrictions are usually similar, but not exact. This is the type of policy that State Farm, Allstate and other 'regular' insurance carriers write. Let's say you insure the car for $10,000. If you get into an accident, the company will pay up to the policy limit ($10,000). But let's say the person who inspects the car thinks it's only worth $6000. THAT is what you may be limited to. To you that paint may have 'patina', but to the adjuster it's a car in need of a paint job.

The restrictions have usually limited the vehicle 'social' driving. Not to work, not the grocery store or other daily uses. They want the vehicle stored in a secure parking enclosure. This means a garage or storage unit that is locked. Car ports don't count. Just in the back yard doesn't count either. Insurance is about risk. The lower the risk, the cheaper the insurance. Roadways during rush hour and parking lots full of cars increase the risk.

These insurance companies are specialists in these kinds of vehicles. They are not fazed by your Studebaker. I guarantee the yahoos at Geico will be asking the same dumb questions that many uneducated people ask at car shows (Who made Studebaker? They bought Ford engines?).

The only thing I will say bad about American Modern is that they like to play the Monday Morning Quarterback. I looked at a '71 Plymouth Road Runner that had been rear ended. I wrote to replace the deck lid. It had a dent that was 3/4" deep into the deck lid and half the panel across. I got a phone call to repair the deck lid. A good used deck lid was $300 plus shipping. If this was my car, I would have been ticked off...

http://i74.photobucket.com/albums/i280/Swifster/4a2b6b7c-72fe-465c-bc41-4dc630a339b4_zpsu7euklrm.jpg

Dads Baby
07-09-2016, 11:32 PM
I think most classic car insurers have restrictions on driving. I cannot imagine wanting to drive my classic car to the grocery store, mall and maybe even work.

Most claims come from parking lots.

The reason I won't discuss guidelines is that each state has different guidelines. If you would like to discuss what is available in your state, please give us a call for a quote. If this is evasive, I am sorry. There is a lot that goes into customizing a quote. A quote will take about 10-15 minutes, maybe quicker depending on the small talk.

Personally, I won't run errands in my car. I won't take my car to the mall. I don't trust people in parking lots. My wife's regular use vehicle has been hit three times in parking lots. Why in the world would I want that to happen to my collector? I put those restrictions on myself.

For the record, I never identified myself "as an authorized rep," only a happy employee. Also, I don't know what other company's guidelines are.

JoeHall
07-10-2016, 12:38 AM
as an authorized rep," [/B]only a happy employee. Also, I don't know what other company's guidelines are.

By your verbiage, "we", "our", "us" ten times, and "I will not discuss...", etc., you implied you are an authorized rep. Soo now only a, "happy employee" are you qualified to even discuss "guidelines", or anything else, other than your personal experience?

Re: states' differences, as reason for phone discussion, I can get an on-line quote from most any major insurer in minutes, on my daughter's violin, home, Harley, Studes, and brand 'x' cars, without picking up the phone. If calling a drug dealer, I may need to, "discuss". Otherwise, most everything is doable on line, supported with downloadable, printable documentation ;)

I believe the 23 year attorney's advice, linked in post #15 above, is accurate and savvy. No matter what is discussed, the only thing that matters is what is, "on paper" in the policy; usually in fine print, and seldom read. Attorneys often get paid to read and interpret the fine print for us.

Finally, you evaded my yes/no question, and answered with, "Personally..."

Swifster
07-10-2016, 08:11 PM
[QUOTE}"For the record, I never identified myself "as an authorized rep," only a happy employee. Also, I don't know what other company's guidelines are.


By your verbiage, "we", "our", "us" ten times, and "I will not discuss...", etc., you implied you are an authorized rep. Soo now only a, "happy employee" are you qualified to even discuss "guidelines", or anything else, other than your personal experience?

Re: states' differences, as reason for phone discussion, I can get an on-line quote from most any major insurer in minutes, on my daughter's violin, home, Harley, Studes, and brand 'x' cars, without picking up the phone. If calling a drug dealer, I may need to, "discuss". Otherwise, most everything is doable on line, supported with downloadable, printable documentation ;)

I believe the 23 year attorney's advice, linked in post #15 above, is accurate and savvy. No matter what is discussed, the only thing that matters is what is, "on paper" in the policy; usually in fine print, and seldom read. Attorneys often get paid to read and interpret the fine print for us.

Finally, you evaded my yes/no question, and answered with, "Personally..."

Joe, having worked for both Hagerty and Grundy as a contractor, I'll tell you my experiences with both. I never had a claim denied and neither played games with my estimates. Even with VIN/Serial Number issues, both worked to find a happy resolution. If you have a question regarding guidelines, I'll let you know what they are as explained to me by the claim reps. I don't believe they are secret and they are pretty typical of the industry.

I had one customer who put 27,000 miles on his Camaro in the year between insuring it with Hagerty and his claim (tree branch fell on it). He had a reasonable answer for the mileage (driven weekly from Tampa to Miami on weekends), a second vehicle and secure storage. I've never heard the words 'mileage limit' for either company.

greyben
07-10-2016, 08:21 PM
I insure my '55 through State Farm. The cost is based on my estimate of maximum annual mileage and my estimated value of the car. There is no specific useage exemption other than would be on a regular policy.

sweetolbob
07-10-2016, 09:25 PM
What the insurance company allows in Michigan is irrelevant if you are running historic plates. This is the SOS Antique plate limits.

A historical vehicle must be:


26 or more years old
Owned solely as a collector's item
Used only for events such as historical club activities, parades and car show



If you comply with the requirements the plates are $30 for 10 years or $3/yr. The other thing it allows is a reduction in the uninsured motorist fee to a monthly rate. The annual cost of uninsured coverage is currently $154/yr/vehicle down from $180. Otherwise the plate will be a minimum of about $120/yr, depending on vehicle value, and the full uninsured motorist fee of $154/yr.

This applies to every car so if you own several then multiply the costs by the number you own.

If you wish to drive your car daily then the minimum cost of plates and uninsured is a minimum of $274/yr plus the cost of insurance on top of those costs. You are then paying at least $500/yr to drive without being an antique vehicle. Not a problem if the Studebaker is essentially a daily driver but way to much for just an occasional driver where the cost would be less than $20/yr plus antique insurance on the antique vehicle.

FYI, Hagerty is headquartered in Michigan.

Bob

Dads Baby
07-10-2016, 11:03 PM
Joe, if you would rather an online quote, here you go! https://www.hagerty.com/

Swifster
07-10-2016, 11:06 PM
I insure my '55 through State Farm. The cost is based on my estimate of maximum annual mileage and my estimated value of the car. There is no specific useage exemption other than would be on a regular policy.

The problem is that it's a Stated Value policy and if the adjuster decides the value of the car is less than you decided it is, you have a fight on your hands.

Swifster
07-10-2016, 11:10 PM
What the insurance company allows in Michigan is irrelevant if you are running historic plates. This is the SOS Antique plate limits.


If you comply with the requirements the plates are $30 for 10 years or $3/yr. The other thing it allows is a reduction in the uninsured motorist fee to a monthly rate. The annual cost of uninsured coverage is currently $154/yr/vehicle down from $180. Otherwise the plate will be a minimum of about $120/yr, depending on vehicle value, and the full uninsured motorist fee of $154/yr.

This applies to every car so if you own several then multiply the costs by the number you own.

If you wish to drive your car daily then the minimum cost of plates and uninsured is a minimum of $274/yr plus the cost of insurance on top of those costs. You are then paying at least $500/yr to drive without being an antique vehicle. Not a problem if the Studebaker is essentially a daily driver but way to much for just an occasional driver where the cost would be less than $20/yr plus antique insurance on the antique vehicle.

FYI, Hagerty is headquartered in Michigan.

Bob

Bob, you know as well as I do that one or two people comply with the vintage plate rule. Everyone else ignores it.

Xcalibur
07-10-2016, 11:21 PM
Hagerty... for DECADES!!!

JoeHall
07-10-2016, 11:27 PM
From the Hagerty web site link, posted in #35 above. The ** in, "Flexible Usage" led to the fine print at bottom of the page. LOL:

Flexible Usage
Our policy allows you occasional pleasure use with no fixed mileage restrictions**. With Hagerty, you can go for a weekend drive, take your vehicle up to the local ice cream shop or attend unlimited events and cruises.

** Occasional pleasure use does not mean use for daily driving to and from work or school, routine shopping, etc

48skyliner
07-10-2016, 11:54 PM
I doubt there is anyone on the forum with a Studebaker that is further from a stock car than mine. The entire drivetrain, suspension, even the chassis are replaced with modern components, and it drives like a late model car. But it still looks like a 48 champion and that is why I built it. It would be ridiculous to make all those modifications on a car that is only driven to the occasional car show. I built it to drive. It is a much, much safer car to drive in traffic than the original car. It is just one of five cars listed on my policy with USAA insurance. Three of the five cars are highly modified, but only to make them more useful and driveable. My policy has collision coverage based on "replacement value", which can be determined at the time of a total loss. I always take my project cars to some of the local car experts and have them inspect and test drive them, so they can offer an opinion on the replacement value. I have been with USAA since 1961 and have never had a total loss, but I think they will treat me right.

Swifster
07-11-2016, 12:00 AM
Ben, good luck with that...

Andy R.
07-11-2016, 03:04 AM
How about a vote for J. C. Taylor? They support SDC in that they advertise in Turning Wheels, full page every month.
I have been with them for at least 30 years (ever since I had a bad experience with Grundy). Never had a claim with Taylor, but have never had any problem getting a miles exception (like when seven couples from our chapter drove 6,000 miles from the East Coast to West Coast and back). Taylor reaction when I told them- "have fun".

+1 very happy with J. C. Taylor for over 30 years as well.
Paul, IIRC, I read in my most recent policy that they are affiliated with Grundy. You might want to check your policy, if that concerns you.

Here is an interesting article on classic vehicle insurance:
http://www.acarplace.com/cars/insurance.html

If using it even semi-regularly, adding it to your existing policy (as mentioned in post #12) will be less restrictive, though the people handling your claims will likely be less knowledgeable about your old car. The job of proving the worth of your vehicle still may fall on you. That was the most tolerable part of my experience with a company I won't mention that rhymes with "hate+harm".

We have a 25 year-old car still insured with our main carrier. We used to get a low mileage discount, but they wiped that out a couple years ago.

JLB
07-11-2016, 04:45 AM
The problem is that it's a Stated Value policy and if the adjuster decides the value of the car is less than you decided it is, you have a fight on your hands.
Anyone here on the Forum, that has a State Farm, or other similar "Stated Value " policies, should very carefully read what Swifter has said. The difference between the word "Stated' and "Agreed" as they relate to your classic cars is unbelievable.Don't assume that you will get the "Stated Value" if your car is totaled. The value of your car will be based on the opinion of the adjuster. If the adjuster's value is less than your "Stated Value", you will have a fight on our hands as Swifter has said, and you'll find yourself having to do the research and leg work to try and prove your car is worth the "Stated Value". And you may never be able to prove it. To add insult to injury, you have faithfully paid the premium , based on your Stated Value, but there will be no refund if the adjusted says your car is worth less than your stated amount. What one must remember here is that you stated the value of the car, the insurance company didn't agree to that value unless you have an Agreed Value Policy.

JoeHall
07-11-2016, 05:30 AM
Anyone here on the Forum, that has a State Farm, or other similar "Stated Value " policies, should very carefully read what Swifter has said. The difference between the word "Stated' and "Agreed" as they relate to your classic cars is unbelievable.Don't assume that you will get the "Stated Value" if your car is totaled. The value of your car will be based on the opinion of the adjuster. If the adjuster's value is less than your "Stated Value", you will have a fight on our hands as Swifter has said, and you'll find yourself having to do the research and leg work to try and prove your car is worth the "Stated Value". And you may never be able to prove it. To add insult to injury, you have faithfully paid the premium , based on your Stated Value, but there will be no refund if the adjusted says your car is worth less than your stated amount. What one must remember here is that you stated the value of the car, the insurance company didn't agree to that value unless you have an Agreed Value Policy.

Thanks John,
Even I can understand what you wrote, so it obviously was well explained. I also know you are well trained to, "read the fine print". Further, what you say matches personal experience: After driving it 50,000 miles, the wife totaled her 63GT, twelve years ago. The other party was determined to be at fault. Their Ford F350 was hardly damaged at all, after practically climbing over top of the GT's front end. Bottom line, the other party's insurance paid for our GT, and the F350.

To argue the GT's value, I had a local, classic car dealer appraise it, and submitted copies of every GT ad in Turning Wheels for six months prior. The settlement was $7500, and an offer to buy the car back for $2000, which I did. I am pretty sure my, "stated value" to my insurer (State Farm) was $10,000. But not sure how they woulda handled it, since they were not the payer. But without the local appraiser and the TW ads, I have no idea how the other insurance rep woulda arrived at a price either.

OTOH, had we had, "classic car insurance" we likely woulda been found in violation of their restrictions; hard to justify 50,000 miles in 5-6 years, and a back seat full of groceries. So, not sure how that woulda went either. The wife still has neck and back problems. Just glad none of our kids were in the GT.

BILT4ME
07-11-2016, 09:07 AM
I do the same for my 59 lark. I sent them pictures of the car, gave them a value I believe was fair for the car in the state that it was in at the time, and they agreed upon it. I have $0 deductible with glass breakage and full coverage, the same as I have on ALL of my cars. I recently had a window vandalized, so I need to find a LR window for a 59 Lark 2DHTP. I called my insurance and they asked if I wanted them to find on or if I would do the leg work. I orffered to do the legwork to find what I need and I will send them the bills and they will cove it. Now to find a window.........

State Farm. However, I have been with SF for 40+ years.


I insure my '55 through State Farm. The cost is based on my estimate of maximum annual mileage and my estimated value of the car. There is no specific useage exemption other than would be on a regular policy.

sweetolbob
07-11-2016, 10:48 AM
Bob, you know as well as I do that one or two people comply with the vintage plate rule. Everyone else ignores it.

Right you are Tom but it gets expensive when the law enforcement folks notice a classic car parked at the same business a couple of days in a row. For the record, I would never think of doing anything that would violate the letter of the antique vehicle statute.

Bob

raoul5788
07-11-2016, 01:09 PM
Apparently many states have restrictions on driving classic plate cars. Luckily, CT isn't one of them.

Green53
07-11-2016, 02:44 PM
My three Studebakers are with State Farm. I had certified appraisals that made for Agreed value policy's

Denny L
1940 President Club Sedan street rod
1964 Avanti R1
1964 Daytona R1

Skip Lackie
07-11-2016, 03:40 PM
Right you are Tom but it gets expensive when the law enforcement folks notice a classic car parked at the same business a couple of days in a row. For the record, I would never think of doing anything that would violate the letter of the antique vehicle statute.

Bob

I wrote the antique vehicle plate law in DC forty years ago, and based it on the then-existing laws in about a dozen other states. At that time, all states greatly restricted the use of vehicles with antique/historic plates -- but many states have greatly liberalized those laws since then. It's really a matter of effective lobbying by car club groups -- most state legislators don't know anything about old cars (and don't care), so a well-crafted bill will often pass. Maryland, for example, imposes virtually no limits on these vehicles,, and allows vehicles only 20 years old to qualify. As a result, one can often see plumbing and electrical contractor trucks running around with Maryland vintage plates.

The time may be right for some DC citizen to carry the ball to liberalize the DC antique tag law -- but there aren't many old car hobbiests here, and nobody has stepped up.