How honest are you? insurrance question

So im going to be getting insurrance on my ride but was wondering how honest everyone is. Is everyone keeping there car inside a locked garage? are you really only driving that 2,000 miles a year? did you say your cars worth more that it really is?

My quote was for 165 for the year with driving less that 2500 miles per year. My question is what if I have it parked outside a friends house for a couple days to work on it and it gets stolen? does that void my claim? Is there a company that is ok with you not having your ride parked and locked ina garage?


Any info would be awesome thanks

 

if you just have liability on it, they don't give a shit.

also if it gets stolen, and you don't have a garage to show them, it isn't likely you'll get paid.

 

Solo.....take a look at my company here:

http://www.collectorcarins.com/cci/

I have been with them for 3-4 years......my Deuce is insured for *agreed value*.....I sent them a spreadsheet showing every dime I have spent building my car......they agreed to that value with no questions asked.......very good people.......they are in Indiana but I can deal with them easily through e-mails and phone if necessary......

They specialize in modified cars.......they know I am driving a hot rod and I don't have to hide it from them.......I do keep my car in a locked garage......no lie necessary there......

I pay $348 a year for all of the maximum liabilities, comprehensive coverage, and full value collision.........I don't plan to crash mine anytime soon though.......

Hope this might help you look at another option......

Brucie

 

The laws of Karma rule in my house.
nuff said!

 

When I filled out the projected mileage per year I said 8,000. They called to
follow up that it wasn't a typo then said that's fine.

I always find that Honesty is the best policy. Remember you are trying to
protect your investment, not get the lowest rate and screw the insurance
companies.

 

true I believe in honesty also and im not tryin to get the cheaptest rate I just never owned a classic car before and dont know how much i will be driving and how much my car will be worth at the end of the year and if It will alwasy be parked in a locked garage. The track where I live you see atleast 6 to 8 other classics either in the driveway or street and those are ranging from nova's, chevy's and old Ford's. Isnt it true that must companies wont inssure you if its not parked in a garage?

 

I sell the stuff and if its sits outside for a few days while working on it, etc, that will not void the claim, providing you have comprehensive coverage. The company I sell for has a 10k mile restriction and it needs to be garaged and not driving back and forth to work on a regular basis. I drove the crap out of it last year and only put about 8k miles, so to me thats not much of an issue. The real issue is the "stated" value or the "agreed" value.

 

Grundy does not have a mileage limit. So no fibbing there.
Pat

 

Hagerty has never asked me what my odometer reading is, or if I'll be driving it less than 3K miles a year.

They do however always ask me if it's stored in a garage, and have requested pictures of my garage.

Seems to me like they would want you to store the thing in a locked garage and would probably ask again if it was stored properly if something happened

 

try AAA. collector car ins for my (formerl) 64 Riviera 10k agreed value, garaged, all the pl &pd about $100 year. no mileage restriction just "reasonable" occasional drive to work ok, 21 year old daughter could drive it ok, other drivers with permission ok. I checked several of the "classic" agencies and all had very restrictive rules re: mileage, driver age , etc. AAA does come out and take pics to verify condition and storage.

 

not sure about occasional outside parking-didn't discuss it with AAA.

 

I would be leary of companies that do not take pictures or require an appraisal. I want the company to know right away what I have, what it looks like and what dollar value I want. Will make life alot easier should a claim happen. Thats when you will seperate the good companies from the bad.

 

I have all of my stuff with State Farm. With my hot rods, I have just called and told them to insure my 19whatever for $XXXXX. They always say fine, it will be this much. My agent knows me, and knows I build my own hot rods, but has never seen any of them.
I have never had a claim on my old shit, so maybe I would be fucked, but it seems to work for me.
They have never asked about milage limits, but he knows I have a garage.

 

State Farm only asks me where we are going next ...

 

I'm going to have to check AAA. I checked with all the rest. They all said NO when I asked about driving to work. I asked if someone hits me in the Wal-Mart parking lot while I'm buying paint to paint the garage would I be covered. They all said NO.

Rather than try and say I was on a joy ride at 3:15 at night on a Tuesday, I paid the extra and got regular insurance.

I told them I wanted 5K coverage. Reasonable.

 

www.grundy.com

Your car is covered no matter where it is, and whenever. Parked at the mall, local cruz nite, hotel/motel parking lot across the country, etc. You must have daily driver and send them a copy of your decleration page(first page) as proof. No milage limit but I do believe you have to have a garage. Call them and ask. You can get a quote online in a matter of minutes. The most important factor is to make sure it's an agreed value policy, NOT stated.

Grundy and Hagerty are both agreed value which means you tell them how much your car is worth and they will insure it for that amount and it's that amount you will receive if something happens. Stated value means that the insurance comany will give you what they think the car is worth should something happen. Daily drivers are stated value policies.

Here's alittle hint for those whose cars are on the boarder of being worth approx $20,000 to $25,000. $20,000 and under one certain underwriter is used AND $25,000 and up another underwriter is used. If you insure your car for $20,000 you will pay MORE in premiums then if you insured your car for $25,000. It's just the way the different underwriter premiums are.

Also, with Grundy and Hagerty there is no deductable and if you get in alittle fender bender and can fix the issue yourself, they will cut the check directly to you so you can do the work.

In short, know your policy and what it covers and doesn't cover and ask questions of the company if something isn't clear.

 

I tried insuring my 41 tudor sedan and Model A coupe with Hagarty. Both are orriginal paint cars, run and drive fine, but are not restored. I valued the 41 at 6,000.00 and the A at 7,000.00. After the paper work they asked for pics. They told me WHEN I got the cars restored they would insure them, but not before. I told them that this is how I want them, they are orriginal low milage cars, and they said they only insure "nice" cars. Bastards.

 

What about supporting an Alliance Vendor: AKA
American Hobbyist?

 

That IS a NICE car!

 

You got it.

 

That isn't what they told me. I specifically asked that if I take my car to Wal-Mart grocery shopping and it's hit in the Wal-Mart parking lot, is it covered. They told me NO.

 

The ONLY time my car is not covered completely by Grundy is if it is used for organized or impromptu racing, rallying, participation in any speed contest or time competitive event, or while driven on a racetrack for any reason.

So much for being covered while on the track at MoKan

See if you can get a copy of Grundys policy and any of the others you might be interested in and then you can compare for yourself.

 

why is it that i'm getting the feeling that it might depend on who you talk to when you are getting insurnace through some of the big named companys? I had my 54 with Grundy, and i was told that there were restrictions, and that they only wanted you to take it to a show, drive to and from and that was about it. I asked if i stoped to get milk on my way back from a show if i would be covered and was told NO. policy expired and now i'm with American Hobbiest Insurance, mainly because 'pleasure' drives are ok, and heading to a friends house when there are other cars is also ok...as long as it looks like a car show, ie a few others cars there.

 

There are alot of cars in the Wal-Mart parking lot.

 

Mine are about like that and Hagerty is happy to take my money! The did say that they want new pics if I do something major to it.

 

1. Read your policy. Write questions in the margins. Call your agent or the company's 800 number and ask questions. If they tell you something you're dubious about, ask, "Where in the policy does it say that?" Make them cite line and verse where they're basing their statements on.

2. Don't lie on your insurance application. The insurer relies on what you say when deciding whether to insure you and your vehicle. Don't expect them to pay if you lie about the risk they were underwriting. Drivers and their records, use, condition, storage, garaging, location, it all matters. Even if an insurer issues a policy relying on bum info they might have somehow detected during the underwriting process, it doesn't mean they can't legitimately deny coverage after a loss. But that won't be an issue if the applicant is truthful about the info he provides on the application for he or she signs.

 

My take on the collector car insurance is that they WANT you to drive the car sparingly and store it in a locked garage because it results in less risk for them. If they told everyone that asked "yeah it's okay to drive all over the place and keep the car parked on the street", there would end up being more claims made.

Insurance is nothing more than risk management. The statistics surely indicate that collector cars and their drivers are fairly good risks. Most car enthusiasts keep their vehicles in good working condition, are careful about who they allow to drive them and where they are driven, are responsible and safe drivers and dilligently park them out of harm's way.

The liability is pretty much a fixed price regardless of the value of your car, depending on it's age, whether it is modified or not and what kind of liability limits you desire.

The collision and comprehensive coverage is usually completely based on the value of your car. If you have a car with a high value...you are a greater risk and therefore pay a higher policy. Most comapnies don't want to argue about the worth of a 50 or more year old car, so they just let you establish the value and charge you a premium in accordance to how much you value your car.

I've never had to make a claim, but have heard a few people say that if you are involved in an accident that is not enroute to or from a car show, parade or club function....the last thing you want to do is say that your regular car was in the shop and you use your collector car as backup transportation. Instead tell the insurance company that you were bringing the car to or from someplace to have it repaired, serviced or cleaned.

 

Ok so is there any insurrance company out there that will insure someone that likes to drive there car once ot twice a week just around town ( no car shows ) and doesnt care how many miles you drive and if you leave it outside in a drive way or street for a few days?? Anything like that?

To me its im throwing my money away by gettin insurrance with these companies that will only cover you if your "going to a show" I dont want that. Anyone know?

 

John56h,

Insurance is only a part of risk management.

Another part of risk management is avoidance. Such as parking a car one allegedly cares about in a locked garage. That's why insurers want, and rely upon, an assurance that an applicant's car is going to be garaged, for example. If the insurer expects the insured's car to be garged, the insurer prices the physical damage premium based on the reduced risk presented by a garaged vehicle, as compared to one parked outdoors.

 

Well, I'm about SOL because I drive my cars daily - I actually alternate between my 53 Stude & my 40 Ford - I don't have a "daily driver" & I don't garage them either - if they're in the garage, they're broken & getting fixed!

I've only got liability because nobody wants to insure me as a daily for comprehensive on a collector car...