I am trying to figure out how to insure my 49 Shoebox as a daily driver but having trouble... I am currently and have always been insured through USAA for all my auto insurance. I called them about full insurance on this new 49 I bought. They tried to send me to American Collectors Insurance but they cannot help me because the vehicle is going to be used as a daily driver and not as a recreational vehicle. USAA said they can do a full insurance plan for $136 every 6 months but not at any set amount as far as value on the car goes. I tried to do set value on it at $20,000 but they cannot do that. The guy said if there is an accident the adjuster will come out and give me the amount the damage is worth and vehicle itself. I am just afraid that the adjuster will come out to the accident and say the vehicle isn't worth even close to what it should be. What should I do here? Does $136 every 6 months for full coverage sound good or should I look for insurance where I put my own value on it, etc? I like USAA because their rates are good and I've never had any problems from them but not sure what to do. Thanks a lot in advance for any info!
I could be wrong, but I think I saw a thread on here that talked about Chrome Insurance for a daily driver.
Yes. An agent told me that they basically do not have restrictions and they do have "agreed upon value". They had good rates too.
What do the insurance companies set the rates at if they are NOT "agreed upon value"? Does anyone know? USAA said that they are usually fair with fixing the problems if something happens and the car is nice and restored. I did some searching here and saw some say they did not have an agreed upon value plan and the insurance treated them fine but I'm still worried...
i have used Grundy's Worldwide out of PA. you might try them. a daily driver but how many miles annually. they all need to be exercised to maintain appropriate lube.
USAA and the others insure daily drivers at ACV (actual cash value). So for example, take your Two Thousand whatever shitbox that cost $19K new. After 10 years let's say the value (and this is where things get sticky) is $3500. If you get rear ended and the cost to repair is $4000, it is totaled. So what is the ACV of your Shoebox? Most insurance companies are going to say "not much" and that is why collector car insurance is Agreed Value. I sure can't help you with any suggestions on coverage, but would suggest you just start calling or contacting both "regular" and "collector" companies. Someone will steer you to the company that will cover you. Bill
I got a State Farm policy for $2500 for my '50 Chevy, which is enough to replace it, no problems at all. I just put all the vehicles on with them.
yeah... State Farm insured my 49 Chevy sedan with a value of $7500.00. I don't remember how much it was. didn't need an appraisal or anything, I just took it over to the office and they took pictures of it. insured it as a regular car with no restrictions. another thing State Farm does is they insured my 61 Dodge as a classic with no collision coverage for like 30 bucks a year. my mileage is limited, but I don't really drive it much, just really wanted enough insurance to keep it registered. Don't know about other states but in California you need proof of insurance to register a vehicle.
Another one for Statefarm. I insured my Buick for $7000 no questions asked. Didn't even need an appraisal.
I have my Merc insured on USAA as well. Of course I have not had an accident in it with them. In the past I did total an appraised car in California on 16 Dec 1988. I got the screw they only paid market value. The agent was Jim Fortuna the company was Farmers, the appraiser was Irv Weiss. By the time I got a lawyer it was not going to be worth the differential. So I accepted their offer and my father ended his 26 year relationship with that agent and company.
USAA is utterly useless at insuring anything over ten years old with anything other than liability. I learned the hard way. I had two separate pro appraisals on my '70 F250 of nearly $8K each. USAA offered up $2,550.00 to settle. My truck got tossed through the air like a Hot Wheels, in a tornado in 2003. I had to go through arbitration with the state Insurance Commission to get them to pony up anything more, and still ended up with a measly $4,000 for the truck. The adjuster kept harping on the fact the truck had a color change (blue to red), which was undetectable unless you looked at the bottom of the firewall; and insisted the truck had factory air that had been removed (it never, ever had air!). The adjuster was a complete idiot concerning Ford trucks, and about life, too. So, with that, I will never, ever insure a special interest vehicle of any kind with any of the "main" insurers again.
For those with State Farm and other similar insurers. You're insured for whatever they deem it's worth at the time of damage, NOT agreed value. They can depreciate for anything and everything their heart??? desires. You could very well end up in the same situation as Patrick66. Only you can decide how much of a drain on the wallet and grief you want to contend with in the event of a loss for the sake of a few bucks a year in premiums
I have usaa if you want to have your car fixed. I would not use usaa, you will get scrap value for your car. If you will only be paying 136 for 6 months and you hit someone they will pay out the 100k to cover the other guy so you dont lose your house.
Usually, collector car insure doesn't cover daily drivers, however, the other insurers company will cover replacement costs. A friend of mine had his '65 Vette totaled. He had had pictures of his car prior to the accident. He found other comparable Vettes for sale. He took the ads and his photos to the other insurance company and they covered the cost of repair. I had an O.T. '72 Chevelle that was hit by an uninsured motorist, in fact he ran, but I got his license plate number. Turns out he was illegal and fled back to Mexico. I had 20th Century at the time. The agent told me they would have to find another '72 Chevelle with the same motor, trans and equiptment, they didn't want to do that, so they gave me a settlement that was fair.
i have state farm,set values.my cars are driven a lot they dont care.my lasalle is going to be my sons wedding car .fine. in nev. fine,i set value at 10,000 they said ,no it's worth 50,000.me,ok i just wrecked it,give me 25000,lol.less than10.00 month .woulndt hesitate,but everything i have is with them.good luck
I am retired Navy, USAA says I am not eligible for there insurance, but my wife's ex's crackhead stepdaughter is covered by them as a grand father was an officer in WWII, what a jerk around.
I just looked into Hagerty and they are $540 a year for my vehicle priced at $20,000. That's $45 a year. Seems a bit high because I have friends who are paying right around $300 for the same thing on a classic car at $25,000. I will look into State Farm as well since it seems a ton of people here and on another forum are using them...
State Farm canceled my custom Airflow after my agent said everything looks good and he gave me the policy. After later review a month later,they said the car is way too modified to be able to adjust a claim on it if damaged. So I had to get Grundy but most of the custom insurance companies don't want you to drive old cars daily.
i just get basic shit. evean if i get into a wreck my truck will still look nicer than when i got it. lol .
Not true, I have both my classic cars insured thru State Farm and I set the value of the cars. I filled out a form with all the specs, they took pictures, I said the value I thought the car was worth, and they sent it down state for a underwriters approval. DONE DEAL. It took about 1 hour of my time and their rates for "limited use/stored inside a garage" are dirt cheap.
So why dont you guys "Limited use" the cars every day??? Just like my 64 el camino with yom plates got "occasionally pleasure drove" every day!
If you should have a total come back and tell us how great they were. I doubt that that would be the case. What you guys don't seem to understand is that all you have is STATED VALUE not AGREED VALUE. There is a huge difference in the event of a total loss. As far as savings go. I had State Farm on my cpe when I first got it on the road. At the last (2004) it was costing $280 for $25,000 stated value for 6 months driving and 6 months storage. My renewal this year with Grundy for $48,000 agreed vaule was $301 driving year round. So 6 years later I'm driving year round with $23,000 more coverage and it's costing $21 per year. Just for the record, I'd been with State Farm for 25 years at the time and was getting every discount possible, with no tickets or accidents adding anything
Well it looks like so far I am going to go with either Hagerty or Grundy... I'd rather spend the extra money and know I'm covered if anything happens. I've never had an accident or ticket yet (knock on wood) but I don't want to take any chances of something happening. It seems the online quote I got from Hagerty is a bit high and a buddy of mine told me to call an agent of his who also deals with Hagerty and can get it lower than if I went direct. As for Grundy I will look into them even further.
Get a lawyer. Sue them. Edited to add: Driving cross country, especially in the eastern states, I notice that the largest, biggest buildings all have insurance company names on them. They didn't get that way by paying claims....
You did not read my post thoroughly. I took them to the state Insurance Commission, which does not require a lawyer. If I were to have sued them in court, it would've been for $7,500, which in my state, is above the $3,000 limit for small claims court. Had I won the $7,500 suit, my lawyer would've got more than me in a decision. So, "Sue them!" doesn't exactly work, is not worth the time and $$$, and unless it's for millions, just isn't worth the asspain. To Tedster and Coolbreeze - when and if you have a claim, tell us how wonderful State Farm is/was, after you get just as pissed and drop them.
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