Update...Insuring your truck...a note of caution.

[BigSky71]

I need to find insurance for my truck so this topic is of interest to me. I went to www.hagerty.com and got a quote for my truck valued at $20k for $370 a year, or $300 for $15k coverage. Regarding usage the website says,

Flexible Usage.
Drivers can enjoy their classics with comfortable limits. Our policy allows for an occasional leisure drive, not just to parades or car events.

That's pretty vague. I guess if something happened while you were driving you could just say you were on your occasional leisure drive, lol. I use my truck to run to the store though and I would be worried to call the cops for getting hit in the Safeway parking lot and then not have coverage.

[jdstx]

Is liability coverage provided with these collector policy?

[70cst]

Originally Posted by jdstx

Is liability coverage provided with these collector policy?

I believe it has variuos levels of liability.

[extd56]

Originally Posted by jdstx

Is liability coverage provided with these collector policy?

Yes, the same limits as your daily driver limits

[Botietruck]

I have Hagarty insurance and I contacted them & other collectors car insurance companies and I got the same answer. They will not cover it if it is driven to work 2 days a week...not even one day a week. The reps said I could probably get by with 1 day a month, maybe. I called Metropolitan and they will not insure it for an agreed upon value. They recommended Safeco. I called them and they will insure it, but they want all my vehicles on the same policy. I've had auto insurance with Met. for 30 years and they've been good to me, so I'm not ready to switch yet.
I am like most of you all here, I really don't know what to do because I do want to drive the truck and enjoy it. It wll not be a daily driver but I do plan on driving it frequently.

[BigSky71]

Originally Posted by Botietruck

I am like most of you all here, I really don't know what to do because I do want to drive the truck and enjoy it. It wll not be a daily driver but I do plan on driving it frequently.

Yea, that is crux of it, with these companies if the policy is stated value then you can only drive it infrequently. I think the 800 miles a year I put on mine is infrequent but the insurance company might think different...

[67ChevyRedneck]

Originally Posted by BigSky71

Yea, that is crux of it, with these companies if the policy is stated value then you can only drive it infrequently. I think the 800 miles a year I put on mine is infrequent but the insurance company might think different...

My state farm policy allows 5,000 miles per year. I average about 3 to 4,000 per year. The last time they asked for mileage was 2 years ago, so this year, I can really get on it and drive it a lot

[Yukon Jack]

heacock e-mailed me saying they wouldn't insure either of my trucks. I asked why and they said because the are capable of going off road - so I guess forget them if you have a 4wd classic truck!

[70c-10]

The insurance thing really sucks. Like someone mentioned, why will they insure a new car for $50k and unlimited miles but won't insure my classic for $10K, when all I do is drive it to work(5 miles each way)?

I don't know if you guys have seen this, but there are also a few companies that require that you have a daily driver that is less than 20 yrs old, for every driver in the household! This is absolutely ridiculous. They told me if my daily was less than 20 years old, it was more likely to break down and then I'd use the classic as a backup.

I currently have hagerty on one of my vehicles, with the usual limitations many of you have mentioned. One company that I was considering is http://www.amig.com/. Depending on what state you live in, they allow you to drive your classic to work up to twice per week. Unfortunately, they don't allow this is California. I can't remember the exact quote, but I believe it was about $180 for $15k of coverage.

Here's a link to a discussion regarding insurance.
http://www.jalopyjournal.com/forum/s...d.php?t=274675

[67ChevyRedneck]

I forgot to mention! State Farm required that I have a "daily driver" that has "full coverage" so they would insure my 67 as a cruiser with "full coverage" and a stated value. Again, no driving restrictions on the 67, just 5K miles per year. I could drive to work, lowes, stores, etc, but I'm not "supposed" to drive it to work "everyday" but as long as I stay under my miles, how would they know?

[BigSky71]

Originally Posted by 70c-10

I currently have hagerty on one of my vehicles, with the usual limitations many of you have mentioned. One company that I was considering is http://www.amig.com/.

I got an online quote from AMIG and because my vehicle is "modified" the minimum premium is $250 annually no matter what options you choose. But in my state you can opt for "nine to five coverage". You can choose the mileage amount, I went with 3,000. For value I chose $20,000. That is the best deal and options I have found so far.

[70cst]

Thanks again...I am still looking but I will need to a decision soon. Keep up the feedback!! Maybe we need to get an insurance company to advertise on the board...they would have lots of potential buyers.

[70cst]

Well...my insurance agent called. The way the truc sits they will insure for $12K until it's 98% finished and then $24K maximum. Now I got to make some decisions.

[Gray Ghost]

Deosn't seem to be any middle ground with these licensed theives. I hate insurance companies with a passion. People who do work for them get TWICE what the do from private folks. Biggest example of a double standard we have in this country.

I guess classic insurance for a driver isn't going to happen at my house. I haul stuff daily in mine and am not going to stop.

[2bits]

I have Haggery as well, $135/year with the usual low milage restrictions. Mine is just a weekend hot rod so it fits.

[70cst]

Ok...I revived this old thread from 1/09 as there is always interest in finding the "right" coverage for our trucks and I have new info. Because of suggestions by hchad18 and wkends I decided to call Grundy again to follow up on a previous call. The last time I called the agent did not really impress me with her knowledge of collector vehicles. This being said...I just talked to a Grundy agent "Mike" and had a very nice discussion about insuring my truck and the what is permissible.....so far it looks good.
a) No driving restrictions.
b) Must be kept in a enclosed garage at home.
c) No one under the age of 25 can drive it. "Looks like 70cstjr just squeaked by."
d) I can use it to haul items like bagged mulch as long as it is occasional I guess rocks and bolders are out.
e) 4% inflation adjustment automatic per year
f) $30k coverage $238 per year
g) They want pics of your truck... front, side, read, interior.

I will carefully read the policy but if the above is true then this will be the company that I use. Stay tuned.

8) How many miles can I drive my car each year?
Unlimited - The Grundy Family owns cars dating back to 1909, and recognizes that an attempt to monitor or audit mileage would be nearly impossible. In addition, the Grundy's personally drive thousands of miles a year in organized touring events and simply enjoying and maintaining their cars. You can too!

Is Collector's Insurance Right For you?
Grundy Worldwide's underwriters can insure almost any collector vehicle you own regardless of year or model. Collector vehicles must be used for show, hobby, and pleasure purposes only. They should be owned in addition to vehicles used for daily transportation for all operators in your household, and can be in excellent original or restored condition.

[Ackattack]

Well I'm with hagerty on my 68 for right now. Currently mine is a non driving policy since it doesn't run yet, but someone could steal it from my garage. Right now it's sitting at $18k of coverage. I also have a trailering option added on, so that if I'm hauling my truck somewhere and I crash with it on the trailer, it's covered too.

I got all of this taken care of before it went to paint after hearing of a few people getting their trucks stolen while its getting painted.

When I do finally get it on the road I may have to look around again. I had hagerty on my 72 also, but never made any claims.

I know hagerty lets you drive for pleasure....something like that.

[LOW DOUGH]

Subscribed

[americanmusc1e]

Originally Posted by Camper Power

thank god i like to keep my hands dirty and dont spend much money, 17 year old driving a $13k paying $2200 a year for insurance WITHOUT collision

I'm with Camper Power, I'm 18 and I drive my truck every day to college and work, over 10,000 miles a year. and I pay $1200 a year for liability. (no collision)

at times, that's more than I pay in gas!!!!!!

[VA72C10]

Thanks for the info!

[scottrod71]

Originally Posted by 70cst

Ok...I revived this old thread from 1/09 as there is always interest in finding the "right" coverage for our trucks and I have new info. Because of suggestions by hchad18 and wkends I decided to call Grundy again to follow up on a previous call. The last time I called the agent did not really impress me with her knowledge of collector vehicles. This being said...I just talked to a Grundy agent "Mike" and had a very nice discussion about insuring my truck and the what is permissible.....so far it looks good.
a) No driving restrictions.
b) Must be kept in a enclosed garage at home.
c) No one under the age of 25 can drive it. "Looks like 70cstjr just squeaked by."
d) I can use it to haul items like bagged mulch as long as it is occasional I guess rocks and bolders are out.
e) 4% inflation adjustment automatic per year
f) $30k coverage $238 per year
g) They want pics of your truck... front, side, read, interior.

I will carefully read the policy but if the above is true then this will be the company that I use. Stay tuned.

Very good information and thanks for your research 70 CST. I just want to add my .02 based on my 20+ years as an insurance claims adjuster and manager. I know of no driving restrictions the major companies (State Farm, Allstate, etc.) put on these vehicles but be very sure your agent is knowledgable. MOST of them have no clue how a "stated value" policy works if there is a claim. If you have a $24,000 stated value on your truck, it does NOT guarantee you get $24,000. It means they will pay up to that amount and it is all on the documentation and how each case is handled. They will try to find "like" vehicles for comparison purposes and we all know how impossible it is to do that based on the individuality of our trucks. My best advice is to make legible copies (they may require the originals) and have a very organized notebook of all costs, awards, photos, and estimates of value.

I'm not sure how I'm going to insure mine (Liability only for now) because I know how tough these claims are for all involved. Not to take the side of the insurance carrier but they can't insure these for what we put in them. They are there to insure the actual cash value, not the replacement value. There is an important difference. Most, me included have way more in our trucks than we could get back if we sold them and that is the difference.

Didn't mean to go on so long but I know that this is a topic that is widely misunderstood and sold under false pretenses due to the lack of knowledge of most insurance agents. Hope I didn't muddy the waters even more.

[19673ontree]

I did not read each and every line of this post but I think that maybe some of you may be leaving something out , THE ANTIQUE LICENSE PLATES AND REGISTRATION !

I can speak for VA her but have heard similar quotes about other states ,

In VA when you register a classic vehicle with vintage plate (YOM YEAR OF MANUFACTURE) the registration is a one time thing and if you keep the vehicle the rest of your life you NEVER have to pay anything else
2ND your vehicle is exempt from having a state inspection sticker ,
3RD YOU CANT DRIVE IT TO WORK ! YOU CANT HAUL ANYTHING IF ITS A TRUCK , YOU CAN DRIVE IT A TOTAL OF 250 MILES ONE WAY FROM WHERE YOU LIVE , YOU CAN PLEASURE DRIVE IT OR DRIVE IT TO CAR SHOWS AND CRUZ INS ,

THE LICENSE PLATES DO THAT SO IT DONT MATTER IF THE INSURANCE COMPANY STATES THE SAME RULES AGAIN !

I got the hagerty CHEAP on my 1967 camaro and 1967 C10

the rule's stated are EXACTLY what I do with my car and truck anyway , I have a company truck to drive so I really don't even need a car or any type of vehicle for that matter , so it work's good for me

paying more for insurance that did not have rule's would not do me any good anyway cause the plates already do what the insurance say's anyway , and I bet if you check into it a lot of other states are that way too ,

in short I can drive my vehicle's year round as long as I don't go further that 250 miles , and don't drive them to work or run errand's ,

anytime I drive my 1967 camaro or 1967 C10 IT IS FOR MY PLEASURE

[19673ontree]

hagerty is an AGREED VALUE policy
A friend of mine wrecked a 65 fastback mustang with $15K AGREED VALUE on it and the only hagling they did with him was they told him if they paid the full amount that the mustang would belong to them so they offered him a lesser amount and he could KEEP the mustang , that was what he did I think it was $10K and he kept the car and fixed it back ,

I would have took the $15K and bought back a chevy but thats another matter

[rscam]

I have American collectors insurance. I pay $114 a year full coverage with a $8000 value and under 5000 miles a year.

[texanidiot25]

Originally Posted by americanmusc1e

I'm with Camper Power, I'm 18 and I drive my truck every day to college and work, over 10,000 miles a year. and I pay $1200 a year for liability. (no collision)

at times, that's more than I pay in gas!!!!!!

Yup, the ones who actually drive their trucks still get screwed.