Hey HAMBrs.Ive got a question. I know lots of you guys use and drive your machines everyday. Question I have is what about insurance? Ive looked into Hagerty and the HAMB sponsor American Hobbyist and they really push that they only want me driving my ride one day a week or about 50 mi wk. Any advice. Ive got this thing to a point of being a daily driver so do I just "bend" the rules or am i screwed.Any advice would be helpful.Thanks.
buy 6 more so you can drive each one just once a week seriously, if it's really your daily, then pay daily insurance. I'm all for saving a buck, and "bending" the rules would be more like twice a week and occasionally driving it to work, daily driving everywhere is another story to me. The more "bending" that happens out there, the more likely that the rates are going to go up for everybody, and that would really ****.
I agree. I reaaly want to find a compnay that will let me insure it the right way. I want to do the right thing but just not having any luck. My regular insurance company told me to find someone else for my truck because it was out of range for them.
the thing to watch for is to get agreed value vs. stated value. i think agreed means that's what they pay, stated means that's where they start to negotiate a settlement.... not good if you total it and they start arguing the value! good luck!
You can't have it both ways, trust me, I'm in the business. If you want the good rate, the agreed value, then you can't drive it everyday. If a slightly higher rate is ok and ACV, then insure it as a regular private p***enger car, or go just liability only. There are things that can be done. Its really not that complicated.
all state let me drive my car unlimited mileage, any time any place. they were less than $100/year more than American Hobbyist, who frankly were crazy with their limitations. They wouldn't allow me to drive to a restaurant. I'm amazed so many people put up with it when "regular insurance" is so good.
What I don't understand though is how do you get comp and collision with regular insurance on say a 32 ford. Don't they just pay you what a book says it's worth? I'm just wondering how you get them to pay the true value if something does happen? In my experience, most "regular insurance" will give you liability, but c&c is another story.
Never had anything but liability insurance on any of my old cars, never been hit or had a wreck in one either., Just add the car to your current policy and drive it every day. It's just a car.
Get "agreed value". You can get this on most all "standard" policies if your vehicle is not listed in any blue books. If you are going to drive it daily, you need a standard policy. Also, get higher limits with a larger deductible. Don't get a minimum limit policy - you are opening up yourself for a big risk if something does happen. The higher deductible will help keep the rates reasonable.
Im gonna look into state farm (thanks SHOOK). Like I said my ,other regular insurance company (USAA) wont touch it because they say its too old(51 Chevy-its not too old, its just right). And the other companys do seem to have tons of restrictions.
You can put comp and coll on anything, really. If you put it on a "regular" insurance plan, all claims are handled on an ACV basis, which means they will take depreciation. If its a "cl***ic" policy, than claims are figured off of the appraised value, minus your deductible of course.
My 64 catalina isn't a 32 ford of course, but I can't imagine the "book price" for my car is anything special. Yet, the adjuster asked me what it was worth and wrote down a number 50% *more* than that. It wasn't anywhere near being a writeoff (the damage ended up costing 25% of the cars value), but still, it was nice that he didn't come in saying that the car was worth $1k "in the book". He seemed quite informed and very reasonable. Every situation is different of course. Insuring my tube frame gl*** bodied "55 chevy" will probably be more interesting...
I wanted to support those who support the HAMB so I checked out American Hobbyist also. They denied me because of my girlfriend's record. I haven't had a ticket in almost seven years but Luckysgal has quite the lead foot and she just moved in with me so I guess that makes me a high risk driver? WTF?
We just got the wagon insured with Triple A, along with the 2 modern dailys and all 3 are now cheaper than the 2 dailys were with our old company!
btw, here's a tip for what's it's worth - with house (and pool) and 4 cars insured at the same agent I bought an umbrella liability policy that covers me for liability - so I save by removing liability (or some portion) from all the individual policies...sounds like ratrod51 could fill us in on that more technically..
I use Viking Insurance, un-insured motorist (every accident I've ever had has been with some un isured ***hole) & liability, $46 a mo. I'm curious what companies guys are using for their dailies and what coverage & rates they are paying mo./yr.
I have my home, 3 cars, mcyc and an umbrella and the cost is minimal for the protection. All insured thru American National. One car is a $40k 40 Ford. Cost is $199 and the restirctions are not that bad. It has to be garaged, can't be driven more than 15k miles and can't be driven back and forth to work "on a regular basis". I drive mine to work probably 3 times a week. Its no big deal. I drove the **** out of it last year and didn't come close to the 15k miles. My advice would be to find an insurance company that can write all of your stuff and second, find one that is familiar with cl***ic cars. I have had a few claims with cl***ic cars and its alot smoother than a regular claim.
ALWAYS buy the uninsured and underinsured coverage. Its inexpensive and provides a huge amount of coverage.
A lot depends upon your agent. I asked my agent about mileage. He said don't worry about it, He inspects the car and he doesn't check the mileage. That agent p***ed away and the rates went up. Found a new company and agent, but the agent was a flake. It was using premiums for his own personal use instead of forwarding them to the company.
Try Grundy they have no mileage limits and it is full coverage no deductable with C&C call my buddy larry at 903-534-1177 he is with heritage ins. out of tyler tx. and is a grundy rep. Brant
Count me in with State Farm as well. I named the replacement value and in my state their oonly requirement was that it was not registered as an antique which meant that I had to have the state safety inspection which in my opinion should be a requirement regardless of car type.
State Farm for lots of years. I hit a bridge in January and they sent an adjuster out to look at the damage. They paid me to do the repairs.
I'll 2nd that the agent will make or break it, both for coverage and cost. I just knocked one of my cars rates in half since the (new to me) insurance agent asked why I don't have the car listed as an antique since I don't drive it a lot (enough). Same coverage and agreed value, I only have a mileage restriction, no other conditions, drive it where I want, when I want. And its "out of range" as somebody mentioned elsewhere, only difference is my agent pulled a book off the shelf and had to manually calculate the rate. =-) On my dd, the agent changed my average yearly mileage and managed to knock 20 bucks off the total for that vehicle (30k average apparently costs less than a 20k average). So theres something else to ask your agent about next time your due. I sure never knew, and I never figured MORE mileage would cost less. So play with the numbers and see what the computer spits out. Took drivers ed way back (and have paper proof)? Thats good for a discount as well, even if it was 20+ years ago. Again, thats something the agent needs to key into your profile. Something else I learned, where you live within the city affects your rates! If I lived 4 blocks over (same neighbourhood essentially, no trouble maker housings anywhere nearby, but across a busy road) my rates would be higher. WTF? So, if your thiking of moving and your insurance rates are played around by something as silly as your postal (zip) code, ask, might save yourself a good chunk of change as well. Alex.
I ran across a tidbit of info the other day. The way I understand it if you have a surety bond or a certificate of cash deposit with the state comptroler that is equal to the minimum limits of liability then you dont have to have an insurance policy. Of course if you are in a wreck and its your fault then you loose the money you put up in the amount of the damages to the other person. How about you legal eagles check it out and give us your take. Texas statue 601.121 and 601.122 http://tlo2.tlc.state.tx.us/statutes/tn.toc.htm
We've been fine with Allstate here. Got an appraisal (signed and notarized) which sets the value in the event of a claim. Standard, basic car policy, full coverage, I think it's around $250 a year. Daily driver, no garage, no mileage limits.
Should have searched before I called American Hobbyist, nice temptation with an online quote until you say that you drive the car, ugh. I'll try Grundy, my current Hagerty is too $$$$
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