Insurance for classics

[eyebuzz]

Hi All,

With the recent stolen truck posts I'm curious about insurance. Geico told me they don't have comprehensive insurance for my 72 Suburban. They have classic insurance (said they couldn't figure out what it's worth) - but mine doesn't qualify as it's a daily driver/non-heated garage/etc. I have insurance for it, of course, but only liability. Who likes which company for comprehensive (theft) insurance for DD?

Thanks,
TT

[ChevLoRay]

Grundy advertises heavily on Speed Channel. There are limitations on how it can be used and still covered against loss. Otherwise, you can get an appraisal done and take that info to your insurance agent and purchase "Specified Coverage" for it.

[68GMCCustom]

There are lots of companies that insure the classics/antiques. Some are more restrictive about the vehicles use then others tho.

[Lee H]

I use American Collectors for my corvettes. Like most other classic/collector insurers they have restrictions on yearly mileage, must prove you have an insured daily driver, have to store in a locked enclosure (garage or out building). Not covered if stolen or damaged in movie theater or the like parking lot unless it's a legit car show/event. Must provide mileage and provide pictures yearly. I do not use this insurance for my 72 C10 as I put to many miles a year to quality for collector insurance.

[big_al_71]

I have "Heacock Classics" full coverage with them......

[dag19]

I went through Hagerty Insurance. Good coverage, great rates, easy to deal with them. They specialize in classic/cutsom vehicles.

[72BlckButy]

State Farm and a fairly high repay value.. ahem.

Runs me around $60 every 6 months.

[Cole Trickle]

I have mine with american collectors....

Like mentioned you can't daily drive the vehicle and it can't go over a certain amount of miles. (basically light sunny day usage)

I think I have mine insured for 15K+ and its like $120 a year

If you daily drive it call around and shop standard companies. most will do it with a stated amount for a fair price. If you get to the high side of the booked value you might need approval and a out side appraisal.

[69oldog]

Originally Posted by dag19

i went through hagerty insurance. Good coverage, great rates, easy to deal with them. They specialize in classic/cutsom vehicles.

x2 hagerty

[GASWAGON]

I have Grundy. They are very easy to work with, but as stated by others, you need to prove you have a DD, car show, not to work drives etc.. You tell them what you want it insured for and your premium is based on that. They only do stated value policies. I'm a state licensed appraiser, my advice is this. If your insurance company will issue comprehensive take it. Keep all of your reciepts and take as many pictures of your build or repairs, upgrades as you can. In the event of a claim, your insurance company will have to return the truck to pre-loss condition. Your reciepts and photo's prove the before condition and it's harder for them to take depreciation on the parts or in the event of theft or a total loss, they can't go by "book" value. They have to compare your truck to "like kind and quality". In other words a truck in the same condtion as yours prior to loss. Remember this if you ever have a claim, YOUR THE CUSTOMER! You own the vehicle not the insurance company and don't let them bully into what they want. I see this on a daily basis, people are upset and don't know there rights. The insurance companies make millions every year by getting people to do things"there way". J.

[barryvanhook]

I ultimately went with Hagerty as they seemed to do right by me. Before, I've always had all my cars/trucks with State Farm, and that's going back over 45 years. But they really didn't want to write a classic policy for annual mileage in excess of 1000 miles on this truck, and I needed a classic policy to avoid running it through emissions every year here in AZ.

I talked to several companies, and it seems they have some small concern about classic trucks, since they can be used as trucks. They are restrictive about where and how you use them, and they don't want them used for general around-the-house pickup type activities. But they will write the policy if you abide by their rules. Hagerty had no mileage restrictions.

So I guess the thing to keep in mind if you go with one of the classic insurers is don't get t-boned at rush hour with a load of 2x4's in the bed.

Barry

[bigsnookmaster]

I have Grundy with a stated value of $80,000. It costs me about $650 a year. I hope to never have to make a claim!

[Hubscrub]

i have grundy on my nova and like but its not a daily, no mileage limits, they encourage you to go cruisin cost me about $175 a year for 10,000coverage

[lakeroadster]

Originally Posted by barryvanhook

I ultimately went with Hagerty as they seemed to do right by me. Before, I've always had all my cars/trucks with State Farm, and that's going back over 45 years. But they really didn't want to write a classic policy for annual mileage in excess of 1000 miles on this truck, and I needed a classic policy to avoid running it through emissions every year here in AZ.

I talked to several companies, and it seems they have some small concern about classic trucks, since they can be used as trucks. They are restrictive about where and how you use them, and they don't want them used for general around-the-house pickup type activities. But they will write the policy if you abide by their rules. Hagerty had no mileage restrictions.

So I guess the thing to keep in mind if you go with one of the classic insurers is don't get t-boned at rush hour with a load of 2x4's in the bed.

Barry

I agree with Barry. I too used to have State Farm for years and then ran across a State Farm Agent who was a "car guy". He informed me that even with a stated value policy that actually getting that stated value would be very difficult. I shopped around and ended up going with Hagerty.

Too many rules with the other guys for me. Could you imagine, it's a nice day and you decide to take the truck to Home Depot. You get in an accident and your insurer says "Sorry, you violated the terms of the policy, you are on your own."