Classic Car Insurance

[byates2]

I've been building my truck for about 4 years now. Its been a total restoration so far with modifications. It has a new engine, new trans, new brake system, new steering system, and so on.

Now i'm almost finished and about to get it ready to drive. So i figured now is the time to start looking at insurance. I want to insure it for about 18000 because that is what i have into it.

I got a quote from Hagerty for about 475 a year. Does anyone have any experience with Hagerty???

Any recommendations for classic car insurance???

Thanks

[Tropical Snowstorm]

I insure my 72 Cheyenne with JC Taylor, agreed value coverage ($7500 if I recall correctly) for a 30 year old male. $84 per year for full coverage.

Truck has to be stored inside locked garage and cannot be a primary vehicle.

[Z10]

Check out Grundy. You'll have option for collector car or one as a daily driver.
I just ran a quote on my 72 GMC with an agreed value of $25k no deductible, as a garaged collectible for $202.

I had a claim with Grundy on my Camaro about 10 years ago when I was rear-ended. They sent an adjuster to my home within 5 days and I had a check in my hand with in 10. I'm happy with them.

[hamjet]

I have Hagerty ins. with $10,000 coverage for $195.00 a year. I told them less than 2000 miles a year, I'm in NY. They wanted to make sure it wasn't a daily driver, and I had another vehicle to drive as a DD.

[DeadheadNM]

I looked at the major classic auto insurers recently and went with a GEICO classic vehicle policy. The others wouldn't insure me for occasional pleasure rides. When you speak with the company reps ask them a potential scenario like this: "If I drive my truck to say the hardware store 5 miles down the road to circulate the fluids and get some screws and someone hits me in the parking lot will I be covered". Grundy and Hagerty told me "No".

[flashed]

I have Hagerty on 3 of my classics and will have my truck with them when its done ,I have had 2 claims and no problems or complaints .They do have to be kept in a locked garage but I dont think I have a mileage limitation on any of them .

[67ChevyRedneck]

Do you have a bad driving record (accidents, speeding?) because I have my 65 Mustang insured with Haggerty for 25K for ~190/year. Most everyone I've ever seen post with haggerty or grundy pays around $150-250/yr.

[Sicklajoie]

$208 a year on my 69'er, no mileage limit but must be stored in a locked garage.
No complaints in the 3 years I've had it so far.

[jocko]

I was very pleased with Grundy's agreed value policy and service.

[slowcpe]

Man I need to look into one of these policies. I'm paying I think $480 a year for full coverage through State Farm. That's with 3 vehicles at 36 years old and clean record. They couldn't tell me the value they have on the truck.

[67ChevyRedneck]

Originally Posted by slowcpe

Man I need to look into one of these policies. I'm paying I think $480 a year for full coverage through State Farm. That's with 3 vehicles at 36 years old and clean record. They couldn't tell me the value they have on the truck.

That's not good. Especially if it's a nice restored truck. Expect them to pay minimal used 50 year old car values without it being properly insured.

[slowcpe]

Originally Posted by 67ChevyRedneck

That's not good. Especially if it's a nice restored truck. Expect them to pay minimal used 50 year old car values without it being properly insured.

Its not and that's one of the reasons why I put it on a standard policy. Plus I wanted coverage on it since I had planned on driving it home.

Looks like I'm going to shop around next week.

[67ChevyRedneck]

I checked out your build thread. VERY COOL truck. But yeah, state farm would give you squat if she got totaled.

It's sad how many people we've all seen on this forum get screwed out of their trucks value because they had just a regular policy on it.

[markiemark]

I've been using a company called American Modern. Had both my Vettes with them and now my Z06 and my 67 c10. My 67 has an agreed value of $20k and it's only costing me $110 a year. Look it up. Great company!!!

[Lattimer]

Good thread. I have Hagerty right now, and I'm up for renewal in 10 days.

I originally insured the truck at $5k, since I only paid $3600 for it. Paid $196 for the year. Now I have almost $30k in it and not done yet. I spoke with my Hagerty rep and the process to increase the value wasn't too bad, but required scanning all of my receipts and entering everything I spent into a spreadsheet and giving it to them. At $30k value they quoted me $415/yr.

Today I ran a quote with Grundy for the same coverage at $30k, they want $251/yr.

Looked at Geico, and I really like the idea of their coverage for "occasional use", since I do drive it a decent amount. Same coverage, $30k value, they want $346/yr.

I may go with Geico.

[Lattimer]

Originally Posted by markiemark

I've been using a company called American Modern. Had both my Vettes with them and now my Z06 and my 67 c10. My 67 has an agreed value of $20k and it's only costing me $110 a year. Look it up. Great company!!!

Their website links into the same quote form as Grundy.....might be one and the same.

[markiemark]

Originally Posted by Lattimer

Their website links into the same quote form as Grundy.....might be one and the same.

I have a broker that does all my insurance so not sure about that. Anythings possible!! But nonetheless both are good companies!!

[Lattimer]

Originally Posted by markiemark

I have a broker that does all my insurance so not sure about that. Anythings possible!! But nonetheless both are good companies!!

No clue either. I just did the Grundy quote tonight and ran one through American Modern also (since you mentioned them), and the quote forms are identical.

Might be pre-packaged software or might be the same company.

[70cst]

Originally Posted by byates2

I've been building my truck for about 4 years now. Its been a total restoration so far with modifications. It has a new engine, new trans, new brake system, new steering system, and so on.

Now i'm almost finished and about to get it ready to drive. So i figured now is the time to start looking at insurance. I want to insure it for about 18000 because that is what i have into it.

I got a quote from Hagerty for about 475 a year. Does anyone have any experience with Hagerty???

Any recommendations for classic car insurance???

Thanks

I have Hagerty and am well pleased. My truck is insured for about $35,000. I canl't haul wood and rocks but other wise no other restrictions to think of. It does need to be in a lock garage. I am not sure the yearly price but it was very price competitve when I priced out insurance campanies a while back. Good luck.

[BrianG]

It's almost impossible to say if that is a good price. It depends on so many factors, including state of garaging, miles driven a year, your age, agreed value or replacement coverage, etc. etc.

The best you can do is get a few quotes from other insurance companies. Just make sure that you are insuring it based on how you really will be using it and for what you feel it will be worth. Also if the coverage is agree value or if they will just be sending to a collision shop of their choice.

...And I can say with experience, I work for an insurance company and we do offer collector, antique, street rod, among other choices. Shop around, just make sure you are insuring it for how you'll be using it.

[knomadd]

I have full coverage from Hagerty on my 65 GTO with an agreed value of $31,500, for a total of $503/yr. Collision alone is $196. I was 30 when I started that policy 2 years ago with an excellent driving record.

[Bigdav160]

I have three vehicles with ANPAC Chrome. Agreed value of 45k, 25k, 15k with an annual premium of $460

[69moneypit]

American Collectors . 20k value . 400 year .

[BugzC10]

Your quote most likely includes Hagarty's road side flat bed only towing which you have the option of not including. I opted not to include it since I have AAA Premium. It save me $50 bucks. I pay ~$325/year for $15K coverage. They don't increase your policy if you file a claim. Not yet at least.

[IamBrian]

i have condon skelly for both of mine. you have to ask the right questions though: occasional pleasure drives or only car shows? number of miles, of course? other drivers - like my son? agreed value?
i switched companies a couple years ago because they wouldn't let my son drive one - we both like cars, so that wasn't gonna work!
i pay around 125 - 150 for each since they have different values. luckily haven't had claims, so not sure about how decent that will be yet - i can wait!