Classic Car Insurance - For someone UNDER AGE 25?

Becky, thanks for coming on and offering some clarity on the issue. It's good to get that info straight from the source. I had called Hagerty a couple years ago and they told me it was pretty set in stone about being 25. Glad to see things have changed and I can reap the rewards of keeping my driving record clean.

 

I've had statefarm sence I was 16, 20 now! and the bluebook don't hurt my truck is somthing happens to it, They woud not put any less then 18,000 on it and they said no matter what happens to it we will at lest get that. I do have Antique tags from the state 25$s ONE TIME!!only thing they say don't drive it every day but they don't say anything if you do, Hell theres FARM TRUCKS FROM THE 80's in town that have them tags and they drive em evey day.

 

No problem-- as I mentioned, sometimes our underwriters will consider a driver under 25, i.e. a 22-to 24-year-old who is a serious collector and has a clean MVR.

 

Bill still hasn't retuned my call and it's been 48 hours.

 

FWIW I had Nationwide on my 52 Chevy for several years beginning when I was 22. I was living in North Carolina then, and I know things are different from one state to another. At the time, they had an agreed value deal (sort of). It certainly wasn't as cheap as the collector insurance companies, but it worked.

I also found that you might want to check with a different agent (even with the same "brand" of insurance) if the first one doesn't give you a satisfactory answer. When we moved to TX, the first Nationwide agent we talked to would only deal with stuff in the first chapter of his insurance agent training manual. The Nationwide agent across town found a policy that worked for us. A good agent will be "creative" enough to find something that will work for you.

 

I think it doesn't make much sense that you can only get a cl***ic car insurance when you are 25. I agree that lot of young folks may lose interest in old cars if they can't drive them. I know that car insurance conditions in Germany are different since the son of a friend drives oldtimers at the age of 20 (with cl***ic car insurance). If you really want to drive that cars at a young age, you have to cope with the policies you get.

 

Statistics don't lie. The age group with the largest amount of losses are those between 16-25. Even regular car policies with standard personal lines insurance will be considerably more than for someone 25 & older. Not all are bad drivers, but risk ***essment is based on statistics and laws of probability.

As mentioned, age requirements can be waived if the company thinks you are a worthwhile risk. These are on an individual basis.

As for those who suggest that the insurance be put in someone else's name, beware. There are exclusions where a policy would not be honored. Having an excluded driver drive the car is one of them. My driving record was so bad growing up that I was excluded on my mom's station wagon (her insurance would have tripled without the exclusion).

 

It makes total sense. Once you turn 25, you move into the next statistical age bracket of insured motorists that actuaries look at when determining probability of accidents and claims. Because collector insurance has such a low rate of claims, they are able to offer great coverage at pennies on the dollar. The age limit is in place to prevent little Johnny who just got his license from borrowing the keys to his dad's SS454 Chevelle and wrapping it around a pole doing a burnout. Once you turn 25, you're statistically less likely to do stupid things on the road, though individual results may vary.

 

i got hagerty at 24 they told me no age restrictions and you cant beat 350 for the year

 

By a clean MVR Grundy means that they can have no violations EVER! I tried to get my son on after 3 yrs of a clean record and they rejected me on the spot.

 

I don't think that's true. My buddy put a Hagerty policy on his '68 Camaro when he finished it at 23 or 24. I think the major stipulation is that the thing is garaged. They denied me for that reason. I could have lied about it but I figured it would come back to haunt me if I ever tried to process a claim.

 

I have State farm cl***ic car insurance on my 55 sunliner and 37 Chevy p/u but they would not put it on my 65 country squire and I am 48,either the paint was not shiney enough or I had regular plates on it at the time.