Here in Bama, you have to have liability insurance on your vehicles if they have a current tag. If you cancel or it cancels they will send you a nice letter from the state wanting you to state it wasn’t driven without insurance. The insurance companies have to file monthly reports to the state, so they know if you have any or not, so no getting around it. They also can request you turn in your tag. You are supposed to turn in the tag voluntarily if you are going to park one for a while without insurance. If they make you turn it in, you forfeit whatever you paid, and when you tag it again you pay full price again, no matter if it is a couple of days or a year or longer. I let mine go over a few days one time, just simply forgot it. It was my collector car insurance, it was still in the 10 day grace period but the state wanted to claim it was cancelled. It was in the dead of winter and I wasn’t driving the car anyway. They sent three different nasty letters, I had to fill out a stupid form saying I hadn’t driven the car while it wasn’t under coverage. Even had to have Grundy send them a letter stating that it was still in the grace period and not cancelled. Stupid state employees didn’t want to listen. They finally quit after the third letter. I now make sure all my insurance is paid a week or more before it’s set to run out.
Kinda OT, kinda related. My wife was backing a new vehicle (3weeks old) out of garage and smashed drivers door into her old car. While inside the garage. I called insurance agent and asked if it was homeowners or auto claim. He had to call me back to say it would be auto. All worked out fine - silver metallic paint - I could never find where the blend was done, even years later. Must have painted the whole drivers side.
I insure my project cars with Haggerty as they have a builder's policy. Every few months I send in new pictures and they increase the value. I wouldn't sleep well without it.
I also have State Farm. They allow you to suspend the policy for up to 6 months out of the year. It works similar to the "storage policies" mentioned previously - vehicles are covered but it is assumed you are not driving them during that time. The cost of the premium also drops drastically while suspended. For me that's typically October/November through March - I've been doing this for 25 years or so.
Man this is really goin in the wrong direction . You can end up insurance poor very easily also . There are some good facts to know that came from all of this . The only thing I guess we need to understand is your insurance co ., is not in business to loose $$$ , what ever the claims agent can do to save the company money they will do . Changing companies , most of the time just gets a cut on a different part of your claim . Most may not have motorcycles covered , if you do read the restrictions on that policy , not what selling agent tells you . You will be in shock .
It pays to understand how your insurance actually works! Never assume. As far as State Farm, It really depends on the adjuster. I've had 3 weather related claims, they paid generously every time.
Note: In recent times, I approached the popular insurance office in our area. The state farm agency was known to some of our friends and we also knew the owner. The insurance rates went up tremendously since the whole California area was hit hard with fires and destruction. So, we were thinking of changing insurance company plans. The first thing they told me was, stay with your current insurance company. The discounts they give you far surpass any new rates any company can give. Why? Longevity... we had been with our current insurance company since 1967, as a single person, then a married couple with our two cars, motorcycle, apartment rent insurance and then finally a home ownership insurance plan. Many years later, for 20 years, add in several sailboats and we were completely insured. So, with all of those years in mind, the new agent I was talking to said, "I can't come close to what they offer." We said our thanks and goodbyes. She mentioned that any company will say the same thing. "Stay with your old company for the best rates." No, our surfboards were not insured, although they could have been… Hello, When I got my first car, a Flathead, 40 Ford Sedan Delivery, the cost of insurance for fire and theft was higher than when I was listed as a driver on the 58 black Impala. That Impala was lower in overall cost due to the family access and drivers using the sedan. My brother, mom and now, me. But, when I got my sedan delivery, only two drivers were listed, my brother secondary and me, primary. The cost was higher that now, our family had three cars for 4 drivers. We never filed any claims on the Flathead sedan delivery. But only one claim was used for the 58 Impala in 1963-64. The Skylark Wire Wheels on the now cruising 58 Impala got stolen and we had to file a claim since the police were called and involved. Since there was little to no damage overall to file a claim, I just wanted restitution for the Skylark Wire Wheels. When I had a conversation with the agent in Los Angeles, he mentioned that the company would pay for replacing the steel wheels that came stock from the factory. Not for the Buick Skylark Wire Wheels. Anything not stock was not covered under my current plan. I had opted not to take out more insurance for theft of custom additions. Jnaki But, the coverage paid for a set of steel wheels and new tires to put on the barren Impala. Now, I had the only 58 Impala in all of So Cal with black painted steel wheels with a Buick bolt pattern. Yes, I made sure I told the young teen who bought the all black on black Impala in 1965 when I was ready to go away for college. So, if a black Impala is found that has a C&O Stick Hydro in it, add that to a Buick bolt pattern, that is my old Impala. Note: Since then, we have not filed any claim on our cars or station wagons. After we got married,we left that insurance company because it was in Los Angeles. So, we opted for a local agent close to our apartment and have been with that company since 1968. But, our current coverage of replacing stolen custom wheels that came from the factory are covered for complete replacement or replacement for damages. No fire in any of our cars/station wagons and only one theft of the Impala. with insurance from 1960 to today…YRMV
The times look bleak for big companies that handle household. There may be an effect on auto companies, because. My wife insists on paying auto ins., more than 3 decades, on 2 cars that have sat for 20 years. She needs it to be happy
My classic car insurance company has extremely low rates for cars in winter storage, or projects being built. Like under $20 a year for each car when they're not used for long periods. A no brainer to keep them covered for fire and theft during winter, or while building a car.
H ad a friend who had fire and theft insurance. His car caught fire and burned to the ground. They wouldn't pay because it was not also stolen. It had to burn and be stolen to collect.
The best thing you guys can do you have already done and that is to have an agent you can go eyeball to eyeball with. Never buy insurance on the internet. Yep I said it...................
the only good thing I can say about insurance is I insure my 61 Dodge liability only for $30.00 a year just so I can keep the tags current for the rare times I drive it. I think I get 300 miles a year.
I think that liability insurance on old cars is generally pretty inexpensive because not many people put many miles on them...so they don't get in wrecks often...and makes it nice for us who put a lot of miles on ours.
I've never ever sat down with an agent to buy collector car insurance. No matter who insured my collector cars, it's always been done online or over the phone. And it's never ever been an issue, and very easy to do.
ALWAYS read the policy! Do not go by what the receptionist at the agent's office told you. Most policies have exceptions for modified engines, using in a "speed contest", and other things we do regularly. Even the specific "collector car" type policies do not cover use as everyday transportation, or using your classic truck as a truck. The policy for an Auto covers the "auto" not its contents. Depending on the policy, stereo equipment that is not bolted down (see speaker boxes in the trunk) are not covered. All those cool LED lights, brush guard and topper you put on your truck need added policy to have them covered. Remember Conversion vans? Those were insured as cargo vans, with a stated amount for the conversion. Many people found that out the hard way. So many people assume things and get mad when that assumption is not paid out.
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