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09-19-2011, 11:59 AM | #1 |
Registered User
Join Date: Apr 2009
Location: Pflugerville, TX
Posts: 594
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Insurance during restoration?
What are you guys doing with Insurance during your restoration? Do you continue your coverage, or did you remove your coverage during the build to save money?
Get any letters from the state yelling at you for having no insurance on a registered vehicle? Trying to figure out what I should do insurance wise while my truck is in pieces in the garage (it's still currently insured, but it's not exactly road worthy )...Any other tips and pointers you have would be helpful. |
09-19-2011, 12:22 PM | #2 |
Building Dreams out of Dimes!
Join Date: May 2005
Location: Bonham, Tx
Posts: 892
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Re: Insurance during restoration?
I dropped my insurance until I get it on the road. Haven't heard anything from anyone about it. Why not save the money and put it into my truck?
By the way I see you live right down the road from me... So hello neighbor! Posted via Mobile Device
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1981 Chevy short/wide. SB400 350th |
09-19-2011, 12:28 PM | #3 |
Registered User
Join Date: Jan 2011
Location: Tulsa,Okla
Posts: 590
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Re: Insurance during restoration?
If it's liability only I would drop it. If it's full coverage keep it.
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09-19-2011, 12:44 PM | #4 |
Getting Old; Going Broke
Join Date: Apr 2010
Location: Owasso OK
Posts: 2,764
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Re: Insurance during restoration?
We have the option here to "Black Tag" vehicles. It means we are keeping the registration up to date and purchasing a tag/renewal every year (at a discount since it is not on the road) but do not have to provide POI to get such a tag. Also means you can not get it on the street though.
It really appeals to some when you're selling a project that the tags are up to date, so they don't have to worry about the penalties and such.
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Why is every used 350 sbc out of a corvette? There's only two things that excite a man, expensive toys and real expensive toys. VEGETARIAN: That's an old Indian word meaning "I don't hunt so good." When the going gets tough, switch to power tools. |
09-19-2011, 08:01 PM | #5 |
BAD BOW-Silverado XST
Join Date: May 2000
Location: Senior Member from Austin, TX
Posts: 6,431
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Re: Insurance during restoration?
Yup, I keep mine at full coverage. It's would be next to impossible to get full coverage after being rebuilt.
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09-19-2011, 02:02 PM | #6 | ||
Registered User
Join Date: Apr 2009
Location: Pflugerville, TX
Posts: 594
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Re: Insurance during restoration?
Quote:
Quote:
Thanks for all the input guys! I ended up talking to my agent this afternoon during lunch, and we removed the liability and added comprehensive. Since the vehicle is parked, and not on the street, it's only $5.33/mo. The comprehensive covers vandalism/fire/theft/glass, etc., so I feel pretty good about it. |
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09-19-2011, 12:48 PM | #7 |
Slots go on anything!
Join Date: May 2003
Location: Richardson, TX
Posts: 5,957
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Re: Insurance during restoration?
Mine is insured through Hagerty. They asked for pictures, and I had to fill out a worksheet of what has been done. I have put 200 miles on it so far this year, so it's kinda like being parked.
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1974 Jimmy- 5.3/4L80e/NP241 |
09-19-2011, 01:27 PM | #8 |
Registered User
Join Date: Apr 2010
Location: Newcastle, OK
Posts: 1,344
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Re: Insurance during restoration?
But to get a "Black tag" you have to have a note from a certified mechanic saying your vehicle is not on the road. Or in my case a receipt from the machine shop when I had my motor rebuilt.
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09-19-2011, 02:21 PM | #9 |
Getting Old; Going Broke
Join Date: Apr 2010
Location: Owasso OK
Posts: 2,764
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Re: Insurance during restoration?
I've never had to give any sort of reasoning as to why I wanted a black tag, other than it was not streetable. Now when I've went in and transferred and tried to tag on that was a few years behind... Yes I have to provide documentation as to why it was not tagged and not on the road, ie no motor or transmission inop etc.
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Why is every used 350 sbc out of a corvette? There's only two things that excite a man, expensive toys and real expensive toys. VEGETARIAN: That's an old Indian word meaning "I don't hunt so good." When the going gets tough, switch to power tools. |
09-19-2011, 02:08 PM | #10 |
Robert Olson Transport
Join Date: Oct 2002
Location: recent transplant to NC USA
Posts: 20,310
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Re: Insurance during restoration?
i had difficulty having it insured through hagerty and other classic car insurance because it was not restored just old.. they insist it be worth at least $15K or so.. so i keep regular insurance on it and a couple of times a year i use it for hauling trash for work so i can deduct it all on my taxes
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Bob 1951 International running on a squarebody chassis "If a man's worth is judged by the people he associates himself with, then i am the richest man in the world knowing some of the fine people of this board" http://67-72chevytrucks.com/vboard/a...t.php?f=25&a=9 (you can review the site rules here!) PM Me for your vehicle/parts hauling needs in the North East US or see my Facebook page Robert Olson Transport Live each day to the fullest.. you never know when fate is going to pull the rug out from under you... I hate cancer!! |
09-19-2011, 03:28 PM | #11 |
Registered User
Join Date: Apr 2010
Location: Newcastle, OK
Posts: 1,344
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Re: Insurance during restoration?
I was told I was going to have to have the reciept, maybe not though. I guess I will find out when I go up there.
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09-19-2011, 03:54 PM | #12 |
Getting Old; Going Broke
Join Date: Apr 2010
Location: Owasso OK
Posts: 2,764
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Re: Insurance during restoration?
I've never turned one from a black tag to a green tag, so I am not real certain on that. The last couple of trucks I've sold had black tags that I put on them, that's about the extent that I know. One of them had extremely out of date tags and we just provided some BS repair order and got all the penalties waved.
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Why is every used 350 sbc out of a corvette? There's only two things that excite a man, expensive toys and real expensive toys. VEGETARIAN: That's an old Indian word meaning "I don't hunt so good." When the going gets tough, switch to power tools. |
09-19-2011, 04:24 PM | #13 |
Registered User
Join Date: Jan 2011
Location: Tulsa,Okla
Posts: 590
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Re: Insurance during restoration?
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09-19-2011, 04:55 PM | #14 |
Registered User
Join Date: Apr 2009
Location: Centreville, Virginia
Posts: 846
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Re: Insurance during restoration?
I have kept my liability insurance current on my project although I have not driven the car in over two years (drove it on and off the trailer). It's only about $ 28 bucks every six months through USAA.........
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The Fleet........ 68' Camaro - 1st car (restored & still have it) 09' VW Tiguan (Wife's Daily Driver) 14' VW Passat SE TSI (my personal) 14' Ford Edge Sport (Daily Work Vehicle) 73' SWB Stepside - 77K org. miles 74' LWB 454/TH400 - drive train transplant for my (Sold) 98' SWB C1500 W/T - shop truck (Sold) 90' GMC Sierra SLE short step - aka " Jezabelle " (Sold) |
09-19-2011, 08:11 PM | #15 |
Registered User
Join Date: Sep 2011
Location: Denver Co
Posts: 36
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Re: Insurance during restoration?
I was able to insure mine for a said dollar amount.
Then when it isn't driveable I can set in as in storage. It still has coverage, but not liability. it is cheaper and still protected. My C10 and Camaro are insured that way. They are listed as collector cars. I had to have another vehicle to list as my daily. Every winter I set the Camaro as in storage. I use Farmers, I know state farm offers the same thing.
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79 C10 Stepside, on 22's, 350, AFR 2.02 Heads, Victor Jr, Holley 770 Ultra, 12 bolt 3:73, 700r4... |
09-19-2011, 08:35 PM | #16 |
Account Suspended
Join Date: Dec 2007
Location: Unnapreciative, Trollville
Posts: 2,079
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Re: Insurance during restoration?
depends where you are and if its your only vehicle.
In Georgia if it's your only vehicle (registered to you) and you drop insurance, you have to turn in your tag, and if you dont have a tag on your vehicle, you have to surrender your drivers license too. Otherwise, how are you going to feel if you have it ALL BUT finished later and the garage burns down? will your home owners insurance cover it? On mine, if I dont insure it, i lose my tag and drivers license, but if i did cancel my insurance, my home owners insurance would cover it if i have receipts to prove what i spent. the only loophole in GA for canceling insurance and staying on the road is to have a second vehicle, which i have. funny thing is i can insure both my truck and a 2001 focus for $4 more per month than only insuring the truck. |
09-20-2011, 12:54 PM | #17 |
Registered User
Join Date: Feb 2010
Location: Asheville, N.C.
Posts: 785
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Re: Insurance during restoration?
if it doesnt run and gets to sit in my "dads" garage (only in name lol) it doesnt need a tag, but he has insurance on the garage and i have enough pics and paper work on the truck to get my money out of it. if you arent going to drive it and you dont have full coverage just weigh the money spent insuring it with the money for an inspection/tag/insurance when you put it back on the road
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10-05-2011, 01:14 AM | #18 |
Registered User
Join Date: Sep 2011
Location: Alba, Texas
Posts: 3
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Re: Insurance during restoration?
I brought my coverage down to minimum liability instead of cancelling it altogether so I could keep getting the loyalty discount and the rates -my provider really does give me the best car insurance rates out there- I’ve been getting all these years. Then I raised my coverage once it was fixed.
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