Unfortunately, as I mentioned, we don't cover daily drivers. We define "daily drivers" as cars you use to drive to work or run errands-- like taking the kids to school and karate. Sorry we couldn't help you with your insurance needs,....
i didnt face that problem because i registered my car as an cl***ic car.it might be needed in your type of registration. ---- sathyan Junkyards in the USA
OK, so it's not a Grundy commercial, but here's the difference. Grundy is a car guy and he gets it. His offices are right down the street from mine and he's got a garage in the back with his cars, in an office building. (Becky can you get me in to see?) And look on the home page, he's a sponsor, and the lovely Becky is on here being real. I think they want the HAMB guy's business, just check the fact that they know it's here and are getting involved means something.
Here's my problem - I do use my cars as daily drivers. Nobody wants to insure for agreed value and stated value is near worthless as has been stated here before. I currently take the huge risk of running liability only on my cars - if I lose 'em, I'm toast. But I believe in self-insurance for the most part anyway - you know, that thing called personal responsibiilty. I know, it's an***hesis to the current en***lement mentality society we live in these days, but call me old fashioned. If it's a nice day, why can't I drive my collector car to work? Same way I do my motorcycle? Truth is, there is no difference. My old cars rotate through the lineup as the daily with many variables dictating which I drive when - often just on whim. If I can't do that, no insurance is good enough. If it limits my choice, it's worthless. I could lie and hope. But that's a crummy way to live life...and goes against my morals & principles. I've got arguably the best insurance out there, USAA, available only to military - but their collector car policies, like all collector policies, only cover so much - storage requirements (I've got more cars than garage space), mileage limits, non-daily driver, etc. Look, it's like going to Vegas - they wouldn't give away money at the ****s table if they weren't getting a ****load themselves. Insurance is a business pure and simple - they collect premiums, minimize THEIR risk, and produce fine print to avoid a claim whenever possible. Why wouldn't they? If they didn't, they wouldn't stay in business very long. Insurance is a government subsidized scam pure and simple. It stems from our over-litigous society and a full-on lack of personal responsibility. I'd self-insure completely if the government would let me...but they won't. The insurance lobby is the most powerful in the country and insurance is now mandated by law virtually everywhere for everything. And while it may not qualify as a monopoly, it definitely meets the definition of a racket... I honestly don't see why insuring a $50K SUV is any different than insuring a $50K hot rod. It isn't - they just want you to think it is. The risk tables & stats are driven much more by location and demographics than by type of vehicle...but if they can collect your nickel and minimize their exposure, that's easy money. As Deep Throat said, 'Follow the money.'
Just saw a Grundy info commercial on Dennis Gage show. Grundy him self said on the show that with his insurance company you can drive your collector car to work on the occasional nice day, contrary to what Becky has stated here.
I have the same situation. I can't believe there is no insurance out there to insure for agreed value as a daily driver (ie, not just an occasional sunny day). What difference does it make what year the car was made?
The risk tables used by underwriters take several variables into account. Most of it deals with where you live and your demographics (how old you are, driving record, etc). These are stats used to develop a risk category based on historical stats. Yes, age of car is in there, as is likelihood of theft based on model of car. They also use tables that take into account safety features of the car (anti-lock brakes, air bags, etc) so they can figure out how much they'll have to pay out on the medical side. In truth, there is very little difference between a well-cared for hot rod (ie - safe) and a car built in the '80s (pre-airbag, anti-lock brakes, etc). Risk has several factors - the key ones are: -Hazard -Exposure -Consequences of hazard if experienced -Probability of Hazard occurring The challenge with this is all hazards aren't always present and there are several things drivers can do to mitigate the hazards (and total risk). Unfortunately for the insured, driving is dynamic with many external variables, and insurance companies bank on worst-case to set premiums. In 27 years of driving, I've made one claim. When I think how much I've paid out in premiums over the years, the insurance companies are way ahead...it's about money.
Years ago I was driving at night on a long stretch of highway with no offramps for miles. Some Idiot, high on who-knows-what, came out of no where trying to run me off the road. He hit his brakes in front of me, smashed me from behind and shot across several lanes hitting me on both sides! I finally got away and he was never caught - the car was reported as stolen. Anyway, after getting estimates and having my State Farm adjuster look at it, the State Farm claims agent smugly say's "...since you don't have 'collision coverage' we can not help you." I argued that this was not a "collision" on my part, but clearly this was a case of deliberate "vandalism" for which I am covered! She dug her heels in, we argued, and as it became clear that I was about to leap accross the desk to choke her, she gave in and I got my check! And, of course my rates went up. Well I cancelled with them and will never go back.
Yup. I dropped them too (Homeowners and cars) and they really didn't care. I have a feeling they will be pulling out of FL altogether pretty soon.
A friend of mine was in the same boat. However, his backyard was fenced so Haggerty insured the car as long as it was locked behind the gates.
AAA never asked me if it was garaged, all they wanted to know was how much i thought it was worth and how many miles will it be driven. i run all my cars cl***ic or new through regular car insurance. i'm like the other guy who said he built he can fix it. if i wreck it i can just fix it. this is the first time i tried this cl***ic car insurance. only cause it was way cheaper and i never drive this car, as a matter of fact i am trying to sell it. but i will look into theirs and other companies like grundy cause i have some cars my dad wants to get covered and yes they are locked up in his garage. there a 32 five window all steel, a 66 vette i just finished and his 56 f-100 he just bought. this a good topic and good reading.
Yeah, me too. They never checked. They asked me if i have a garage, and I said yes but I left out the part of it being full of junk.
If you can fix the damage yourself Hagerty and Grundy both will cut you the check so you can buy the parts and fix it yourself. Because your overhead is lower then a "real" shop, you of course would get less per hour to fix said damage.
i have state farm on two of my old cars, special coverage, not to be used as daily drivers. cost is based on agreed value, model a at 25,000 at about 12 bucks a month full coverage and towing with a hundred dollar deductable, the edsel at 12,000 at about 9 bucks a month with same type of coverage. Haven't had a claim yet. I just figured as cheap as the insurance is I would just over insure them on the agreed value. I have great agents but hopefully I don't have any issues as the agents are not usually the terds that give you problems it is the adjusters.
Im in the market too. I just turned 25, and up untill now i couldnt get cl***ic insurance. Last summer i payed State Farm $350 for only 6 months of coverage on my '71 Jeepster Commando. I was talking to a friend yesterday and he told me that he insures his '48 Willys jeep for $170 a year and its appraised at $15grand. He only has about 5 or 6 into it. Then he tells me they have this thing called "Hot Rod insurance"????? Im 25, married, and have a clear driving record. Whats the going insurance rate on someone like me?I have only $2500 invested total in my hot rod, but im sure its worth over 10 Gs. How does one get a hot rod appraised? Is the guy gonna look at it and think its worthless because its not covered in chrome, billet, and a $5,000 paint job?
When I heard what he had said on MCC, I was a bit puzzled and had a visit with our underwriters and management... This was their explanation: We will allow you to occasionally drive to work in your collector vehicle, but your collector vehicle cannot be used as your primary means of transportation. This is a collector car, not a regular auto, so please use your best judgment. You can absolutely not do this on a regular basis. Your collector car cannot be used for daily transportation or as a subs***ute for your daily transportation.
Go to the Grundy site and within a few seconds you can get a quote for coverage. If you think it would cost $10,000 to replace your "hot rod" in case of total loss then that is what you should insure it for. Has nothing to do with chrome, billet, or fancy paint BUT everything to do with how much it would cost for you to replace your car. WWW.Grundy.com and while you are at it go ahead and compare the premiums with Hagerty for the same coverage and take note of the difference. WWW.Hagerty.com
There have been a ton of great responses so far along with some really good info. Kudos to Becky for sure. She seems to have stepped up to the plate and done some research for us all. If you would like to get quotes from many companies try calling an Independent agent. My wife has recently started with an independent firm locally here in Texas, and loves it so far. I have her checking on quiet a few things for my model A and '49 pick up as well as other friends and families cl***ics too. Sometimes you can get decent discounts on policies if you do your home and auto as well. I have State Farm as do many of us, but I have not had any issues like some have spoken about in the past posts here. I was also grandfathered in to my $50 deductibles, that it seems no one is offering anymore for my vehicles. I think the only deductible that is not $50 is my uninsured motorists coverage. It is at $250. I hope some of this info helps someone out.
I just checked the Grundy site, good price but. Does an engine change make you "modified"It adds 40% to the cost. Or is it another reason not to put Chevy in a Buick. Still it's less than the PL/PD I got to cover as I'm working on it.
But currently none of my toys are insured :0 I didn't day though They are sitting in the garage. Still being built, so I keep telling myself..lol I was speaking of my daily driver vehicles. We just started looking at different companies, and some of the prices are completely stupid HIGH!! I have to say grundy covers more of my friends cl***ic vehicles than any company I know. Things are getting to be nuts down here on the coast with windstorm, and flood, luckily I am not right on the water, but my home insurance keeps going up up up, or vehicle insurance pretty much stays the same. Grundy had the best rates of anyone for the Model A and '49 though. I guess I should wonder if being locked up behind our 7 foot tall fence is considered garaged?
Has anyone else with Elite or American Modern insurance noticed that Hea**** has since taken over? Good/ bad? The policy reads exactly the same, etc. just with a different name to pay.......... I've had collector policy with Elite (American Modern) for a couple years. My dilemma was that I work on/ build all of my cars at WORK. I'm a tech at a repair shop with room to build fun stuff after hours, so my garage at home is just for parking stuff in! I was told that was no problem as long as I don't drive the collector cars to work EVERY day, and that I had at least one vehicle newer than 15 years old for each driver in the household.
How much to replace my car? My shop labor rate is $80-$100 an hour. Would that factor into this cost? like i said i only have $2500 in parts, i dont count labor on my own stuff. By the way, Grundy kicked the **** out of Hagerty with quotes. Grundy wants $245 and Hagerty wants $598. I still dont see how my buddy is only paying $170?
Believe it or not it may be because he's insuring for a larger amount. Yes that's right a larger amount of coverage. Over a certain figure a different underwriter handles it and the premium is lower.
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