I am trying to insure my 64 w/a collector car insurance company but the ones that I have spoken to so far require that you have a lockable garage to keep your car in. I do not have a garage(just a canopy) Is there anyone else in this predicament? Do you just buy regular insurance for your car? For all of you smart***es that are going to tell me to build a garage,Please send your checks &/or money orders to; Garage building Fund c/o Fred Bonnett,5241 Sydney Street,Kiss My *** FL,99687
I don't remember Haggerty asking me that question. As for getting regular car insurace (I am an insurance adjuster, so trust me on this) you will spend enough to build the garage! I went from normal car insurance being $800/year to $140/year with Haggerty. Besides, I don't know the laws in your state (Texas is different than most other states), but with regular insurance it is only worth the market value, with Haggerty (or someone simular) you are covered for the agreed value! Don't take the easy way or it might bite you in the ***. If you have any other ?'s PM me.
I have both my hot rod and antique car insured with J.C. Taylor. They ask if it's garaged but have never asked about a lock.
I have all [10] my cars insured by State Farm - I was never asked about a locked garage (just inside) - and my insurance is $9 to $22 a month each based on value
I dont mean to hijack this post, but I had an accident in my 40 with a guy that was insured with State Fraud and I wouldn't insure my lawn mower with them. Sorry, I'm still a little pissed. And I am in the insurance business.
Specialty carriers low rates are justified because their risk is kept to a minimum. Thus the requirement for a locked garage. Their logic is that the car should be treated as a collectible, stored securely, and NOT used for everyday transportation. If your 64 is basically stock insure it on your everyday policy, if modified ask your agent for stated value coverage on your daily driver policy.
I'm with Allstate on my '50 Burb. Had it certified appraised and they guarantee full value replacement if any loss. Costs normal amount each year to insure, not real pricy. The '50 Burb lives outside, inside 3 locked acres, and gets driven wherever we damn well please! Thats what cars are for
Not zactly stock,350 crate,700R4,Wieand intake 4bbl Edelbrock,P/S,P/B/P/W,Aftermarket A/C,Flames,pinstriping,CD player. I have it insured through State Farm but they are bailing on home owners insurance in Fl. Because the state wouldnt allow them to raise their rates 47%.I figure if they wont insure my home they dont need to insure my car!
I have my coupe insured with Grundy - they didn't ask me about a lockable garage. But, I've slept since I insured it.... Hell, my car is not even finished and they insured it, but I did have to produce some receipts to justify my "agreed value"
Haggerty told me about a year ago they require locked storage. A pole barn is even fine as long as it can be secured. Tried to get them to insure the wife's 98 Corvette. We only put about 5000 miles a year on it but they won't insure it because it sits in the driveway.
Spin off a company and call it "State Farm of Florida" and say you are loosing money to the insurance commission because we had a couple of hurricanes, instead of amortizing the losses through the entire corporation. When they say you can't jack up rates (47%) to cover the losses suffered by "State Farm of Florida". Leave the state and your loyal customers (and agents) high and dry... They've been playing the "Thanks for letting us take your money all these years, gotta go! But please keep our car insurance with us" commecial on the radio since Monday... F%^* State Farm! Sorry for the rant, now back on topic: I just got American (Hobbyist) Collector insurance, agreed value $10K, for $165/yr. but again, I have a locked garage... Now they didn't ask me what kind of garage, or pictures of the garage, so I ***ume if you can build one for less than regular car insurance if you were resourceful. I'd think that a locked garage deters about 95% of most car thieves, so that requirement might be part of why the prices are lower than regular insurance.
try AAA i have my car insured through them. cost me 75 dollars for the year. all they asked is it garaged and what do you think it's worth and how many miles will you put on it. period how are they gonna know if you even have a garage?
Mine is insured with Grundy. They didn't ask if it was locked in although is is garaged. I'm happy with Grundy. I just upped the value on mine and no problem, just a little more money.
I have my truck insured with Farmers Group...I got an appraisal from a rod shop and they insured it for that amount..they wanted a copy of the appraisal.....normal cost , didn't care about a locked garage.... no mileage limit.....just can't drive it to work everyday....I had a claim with them on my 48 that I used to have...NO problems they paid for the damage .....
They're not going to know until it's claim time. Don't expect them to pay it if it's under a car cover or car port when it's damaged. or stolen. You can go to jail or be fined for insurance fraud.
I would strongly recommend to everyone who wasn't specifically told by their insurance companies that they need to have their cars under locked storage to check to see if they require it. I'd been with Hagerty for several years with several cars, and they wouldn't have told me if I hadn't asked. The lady said they insure collector cars so they ***UME you are not going to leave your car out in the driveway and are going to store it in some sort of in a secured storage! Better to find out now than when you go to file a claim...
Not to hijack a post, But what would you guys recommend for a daily driver. I am building a 47 Chevy that will be driven every day. I do have a lockable garage but it has been converted to a bar so no car parking. I would like an agreed value coverage, without milage limitations. I am putting in way to much time and money to let this baby sit and rot waiting for a sunny enough day to load it on a trailer to take it for a quick look see and then back into hiding. Thanks for the help.
Why not inclose the canopy with some corragated sheeting?Looks too nice to be in the weather, anyway!
Guess I'll be no help, I have my collector cars with State Farm, pay about the same amount as any driver. I know the collector car insurance companys are cheaper but personally I don't like restrictions. I want to drive it when I want, where I want, as much as I want. I got caught once by having "farm truck" insurance on my duelly. My agent suggested it since at the time I had a farm, used the truck there on occasion and it was a whole lot cheaper then normal insurance. It was great till the truck was stolen while it was in town, they denide my claim because it wasn't on the farm at the time of loss. It took the treat of a lawsuit agaist the carrier AND the agent personally to get my money, my agent never showed me the fine print where farm insurance is only good on the farm plus he knew it was my daily driver. Normal insurance doesn't have nearly as much fine print that will bite you.
There are a lot of us caught this way. It isnt always money that prevents building a garage!! Im stuck the same way. I am with State Farm at about 14 bucks a month with agreed value of 25K. They liked my special locking device and alarm. (I didnt tell them about my S&W 357 Mdl 19 with 3 quick loaders of 6 fragmentation rounds each.)
Sorry but you DO NOT have agreed value policy with State Farm they don't write them. You have stated value. This means if your car is in an accident or whatever they can depreciate the value. I used to have my cpe with State Farm insured for the same amount as you state yours is. I paid $40 a month and I left them 4 years ago. Something doesn't seem right at the price you've quoted. The same goes for the rest of you guys who think because you have an appraisal you're OK. You're not OK they can depreciate it from that figure because it's only up to date at the time it's written. Skeptical about that advice? Talk to a lawyer, an insurance agent who has nothing to gain or someone who's had a loss and you'll change your thinking. I did.
Phat rat-- you made a great point. In an article that we recently put in Old Cars Weekly, we touched on the difference between Stated and Agreed Value. It's really important to know what type of coverage you have on your collector cars! I thought I'd post just that section, where we touched on this topic, so not to clutter this thread... You advertise that you offer “Agreed Value” coverage. What is that? “Yes,” says Chuck. “We offer Agreed Value insurance, where you, the customer, and we, Grundy Worldwide, agree on the value of your collector car. In case of a total loss, you will receive that amount. We understand that collector vehicles do not depreciate in value, over time. In fact, the values of these cars increase! And, that’s why we offer Inflation Guard, as well—to protect your car at the value that it’s actually worth. Over 60 years ago, James Grundy, Sr. invented the idea of ‘Agreed Value’ insurance, and it’s worked ever since. A lot of other companies have picked up on this idea, but nothing compares the original.” Does that differ from “Stated Value” or “State Amount” insurance? “Absolutely,” states Chuck. “There is a huge difference between our Agreed Value policy and a Stated Value policy. Some people (including insurance agents) mistake Stated Value for Agreed Value. And, that’s a big mistake. If you buy a Stated Value policy and experience a total loss or have your car stolen, you may learn the hard way that your car isn’t covered properly. Stated Amount forms say that the insurance company will pay the lesser of: a) The Stated Amount, b) the cost to repair the vehicle that doesn’t exceed the Stated Amount or c) the “Actual Cash Value.” And, with that third statement, a claims adjuster is allowed to settle your claim for LESS than the Stated Amount! And, this is why all collector car owners need a Grundy Agreed Value policy. If your car is stolen or totaled, you will receive a check for the amount that we agreed your collector vehicle was worth.”
Becky made a great point. Remeber though that every state is a little different on their laws, so don't be afraid to reead up on them, and I have Hagerty and love them!
If you are going to use your rod for daily driving as I do or plan to drive it more than the mileage limits ALL the Grundys, Haggertys etc impose you will need to get an appraisal that is backed up with receipts. Armed with this and a good insurance agent you can determine a coverage for your needs. I shopped insurance hard before I put my 54 on the road last July and found that if you have a trailer/garage queen or weekend only cruiser you can get low cost coverage through the specialty type companies. You might consider just going with liability. I found coverage through SAFECO for an stated value with no mileage restrictions. The initial cost of the appraisal does add some cost to the whole rigamaroll though. Be sure whatever policy you do get do***ents everything in writing in a clear manner. Also make sure you discuss different scenarios with your agent to see how possible situations will be handled.
I have a policy with American National Insurance Company they will insure your home, cars and bikes. Currently the policy on the F-1 there is a agreed value of $20,000, 10k a year mileage and they insure my old Saab which sits outback of my condo for $81 bucks a month total. I had to get a storage unit for the F-1. Even with the added cost of the storage, I'm money ahead.
I have some cars insured with State farm but they are picky about cars with no hoods so for my roadster I went with Infinity through an agent in Sanhoser, Hot Rod insurance, even includes towing for a reasonable price.
The problem with your last sentence is. It doesn't matter how good your agent is, he has no real say about the final outcome of your claim. I went through this with my wifes daily 6 years ago when it was totaled after being rear-ended. I had a good agent, he is a car guy himself, it didn't matter the company rules not the agent. Go back and reread the last paragraph Becky wrote. She's telling it straight with no bs. As I said in my post #22 as far as the stated value insurance coverage goes your appraisal is current only for the day it was written. It can and most likely will be depreciated from that figure. It's your car and money to gamble that it won't be. For those who fail to take the advice that's been written in this thread. DON'T come crying and *****ing how your insurance company put the screws to you. You did it to yourself.
I had Hagerty but there was too many restrictions, limited miles etc... I went with Grundy and they were cheaper, in My case, easier to deal with and no limit on miles cause I have a daily driver with regular ins co.
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