What do you guys use? What have you found that's best? Premiums? Coverage? What do you guys think?

Thanks,
Erik

If you intend on using the car as a true daily driver, then you will not be able to get insurance through one of the companies that deal with classic cars, they simply don't allow it. If you want to use the car as your everyday & only car, you will have to get regular insurance on it. Do a search on this topic, it's been covered a number of times.

If you intend on using the car as a true daily driver, then you will not be able to get insurance through one of the companies that deal with classic cars, they simply don't allow it. If you want to use the car as your everyday & only car, you will have to get regular insurance on it. Do a search on this topic, it's been covered a number of times.

Yeah good luck, everything I have read on here basically says that if it's stolen or totalled you are out a car and money.

Check with State Farm. They had a policy and decent rates for classics at the last car show I was at. (depending on driving record of course). Don't know the coverage though.

Our 64 is on the policy with the rest of our cars with Nationwide. We have been with them for many years, though. They write comprehensive and collision on it. I've never spoken with them about what they would pay out on it.

With regular insurance you are in for a fight. However, your insurance company knows DARN WELL what your car is worth, even if they won't admit it, but they are going to try like heck to get you to take a pittance. What most people don't realize is that in the event of a loss, what your company offers you is just that, an OFFER. You are free to reject that offer. They will negotiate if you stick to your guns.

Whatever you do, don't pay extra for so called "collector car insurance", which is actually stated value insurance and is a complete and total fraud. Get the regular policy, but have a long conversation with your agent, and an adjuster if you can, just so you know what to expect in the event you ahve to make a claim.

Andy69 is correct. In California there is a little thing called a duty of good faith and fair dealing between an insured and the company. Used to be a third party injured in an accident could hold that over an insurance company, and make them fairly settle claims, but that clipped by the legislature. (Guess who made big contributions to their campaigns?)

Do research, document what cars are going for, know your rights, read your policy.

I went through the same thing a few months ago, I contacted Grundy and Haggerty and a few others after reading all their restrictions and hearing them say, " even though the contract says you cant we are not that strict" I asked then why is it in the contract? Just for our protection I was told,,, in other words a loop hole, for giggles I called my regular car insurance and they offer a specialty insurance it was very comparable in price and has no restrictions if I wanted I could drive it to the grocery store. We did a agreed upon value all I needed was a written appraisal,,, Oh my insurance company is Allstate

I went through the same thing a few months ago, I contacted Grundy and Haggerty and a few others after reading all their restrictions and hearing them say, " even though the contract says you cant we are not that strict" I asked then why is it in the contract? Just for our protection I was told,,, in other words a loop hole, for giggles I called my regular car insurance and they offer a specialty insurance it was very comparable in price and has no restrictions if I wanted I could drive it to the grocery store. We did a agreed upon value all I needed was a written appraisal,,, Oh my insurance company is Allstate

just make sure what you have is agreed value and not stated amount. If you have stated amount, and you think you have agreed value, you will be in for a little surprise if you make a claim. This is why stated amount insurance is fraudulant. They let you believe that you will get the stated amount, when in fact there is a giant loophole written into the policy that basically insures they won't even give you close to that without a fight.

Read your policy carefully. If it says anything about "Actual Cash Value", then it is likely you have stated amount.

Mine states "agreed upon value" but thats for the heads up.

asl ong as the policy says that in the event of a total loss, you get the previously agreed upon amount, then your ok. If it says you get either the stated amount or the actual cash vlaue whichever is less, then you'll have trouble, because even if the stated amount is $12,000, nothing is stopping the adjuster from saying your car's actual cash value is $500

I went through the same thing a few months ago, I contacted Grundy and Haggerty and a few others after reading all their restrictions and hearing them say, " even though the contract says you cant we are not that strict" I asked then why is it in the contract? Just for our protection I was told,,, in other words a loop hole, for giggles I called my regular car insurance and they offer a specialty insurance it was very comparable in price and has no restrictions if I wanted I could drive it to the grocery store. We did a agreed upon value all I needed was a written appraisal,,, Oh my insurance company is Allstate

Good luck getting a dime out of them on any claim. Ask me how I know....

I use AON (https://www.aoncollectorcar.com/index.jsp?link=utilitynav)to insure my 70 El Camino. They provide the same types and levels of coverage as regular companies, and work on the "agreed upon value" premise. As long as you are not using your car to drive to work or school, there are no milage or other use restrictions. Their rates are very reasonable to boot.

What if you get hit and it's the other guyz fault ???

How would that work ?

How do you get them to pay you what your car is really worth ?

USAA is good, but I think you have to have some relation to a military member or something.

I went through the same thing a few months ago, I contacted Grundy and Haggerty and a few others after reading all their restrictions and hearing them say, " even though the contract says you cant we are not that strict" I asked then why is it in the contract? Just for our protection I was told,,, in other words a loop hole, for giggles I called my regular car insurance and they offer a specialty insurance it was very comparable in price and has no restrictions if I wanted I could drive it to the grocery store. We did a agreed upon value all I needed was a written appraisal,,, Oh my insurance company is Allstate

same here michigan. i pay a hole $25 a month for storage. when i was actually driving it all year round it cost $740 a year (apraised at $8,000)
i know i was dumb driving her in the snow(r-1, and fiero were my rides), but
i am paying for it now with tring to restore it.
thanks jamie

What if you get hit and it's the other guyz fault ???

How would that work ?

How do you get them to pay you what your car is really worth ?

This is the key - and a tricky one, I bet? THEIR insurance is even less-likely to want to pay for your repairs, as you are not even a customer of theirs...

ever notice that the few folks on here that are in the insurance industry never participate in these discussions? I've had nothing but bad experiences with insurance companies. I consider it to be like hiring a lawyer. It is necessary but the minute you have to you know that the minute you have to you've already lost. They'll never give you a straight answer. You can't get anything pinned down without a bunch of loop holes and outs for them. It is the same way with insurance. You have to have it. They do not have your interests in mind. You're going to have to fight them to get a dime out of them. And when and if you do, you'll eventually pay it back in higher premiums and/or canceled policies. The sooner you realize that the insurance company is in business "not" to pay your claim and that they are all in bed together, again like lawyers, the better off you are.

I used my State Farm agent. Sent them pics and we have an agreed value.

Won't know until something happens though.......

So Professor SS How do you know and what company were you with, Not that I plan on ever using it cause if anyone hits my car I would need a Lawyer since I would be in jail ;) anyway I would like to be protected properly, thanks to my daughter I have had a couple of claims with other vehicles and I must say they were excellent

I used my State Farm agent. Sent them pics and we have an agreed value.

Won't know until something happens though.......

Same here, but my agent took the pics, and I provided comparables from Classic Auto Trader. Have had two claims for getting hit in parking garages and no problems getting it fixed by my choice of body shop. The rear of an El Camino is so low that people backing out an SUV don't see it, apparently.

So Professor SS How do you know and what company were you with, Not that I plan on ever using it cause if anyone hits my car I would need a Lawyer since I would be in jail ;) anyway I would like to be protected properly, thanks to my daughter I have had a couple of claims with other vehicles and I must say they were excellent


I've only had three insurance companies since 1970. I started with state farm and I was with them until 1994. In 1994 we had the "wreck year." I was involved in a small fender bender, not my fault but my fault because I rear ended a girl that was just learning to drive her stick shift. She pulled away from a light, then suddenly stalled it and I ran into the back of her. Then my wife got a couple speeding tickets with my 280 Z. Then she was involved in a minor fender bender that did a few hundred dollars damage to some womans car but she insisted on the insurance company providing her with a rental for the two weeks it took to get it scheduled into a shop and be fixed. The rental bill was nigher than the repair bill. Her car was very drivable but to shut the bitch up our company paid. Then the wife totaled a suburban when a tractor trailer she was passing on the
interstate pulled over to pass a truck. The officer that responded wrote my wife a ticket for failure to stay to the right ( I guess he wanted her to pass on the shoulder :confused: ) When our insurance came up for renewal three months after the claim they refused to re-write us.

I then went to Allstate. I had two issues with them. The first, when our younger son turned 16 we provided him with his own truck and refused to allow him to dirve any of our cars. He insured his own truck and paid for the gas and repairs. None of the 3 children have every been allowed to drive one of the wife and my vehicles. Regardless, as soon as they found out my son was 16 they told us that they would not write us until he turned 25 or got married or moved out. Then a few months later we suffered damage to our property, to one of my cars, and two of my neighbor's cars during a hurricane. I called about the damage and was told that it was an act of GOD, and that trees were not covered nor were my neighbor's cars. I ate the damage to my neighbors two cars. Then a few weeks later I tried to switch companies and was told that Allstate had informed the state insurance commission that I filed a claim. Now remember they refused to pay a dime. As a result every insurance company I went to refused to insure me because I was "high risk." Oh, and my homeowners insurance nearly doubled. Because they refused to write my car insurance at the good hands people I am now with Erie. I hate them. Very expensive and they send you the most insulting questionnaire every few months that ask how, where, when and how often you use your car. If your over 11000 a year they put you into a higher rate structure. I'm not but the tone of the thing jerked my chain.

I spent 20 years in the construction industry and the screw ups, refusals to honor agreements and the attitude of the insurance companies I've dealt with during that time in my life could fill a book.

I have Hagerty for my 72 chevelle. I am trying to shop insurance for my two hot rod trucks but am finding it difficult to pin any of them down on restrictions and coverage. I hate insurance companies.

What if you get hit and it's the other guyz fault ???

How would that work ?

How do you get them to pay you what your car is really worth ?

If you are using it for a daily driver, you won't, period. If the damage exceeds what they think the car is worth, it is considered totalled and you would have to buy it back IF you turned it in for a claim. No insurance company will give you collector car insurance with an agreed value policy and allow you to use it for a daily driver. I can copy the clause in my Hagerty Policy if you like.

If you are using it for a daily driver, you won't, period. If the damage exceeds what they think the car is worth, it is considered totalled and you would have to buy it back IF you turned it in for a claim. No insurance company will give you collector car insurance with an agreed value policy and allow you to use it for a daily driver. I can copy the clause in my Hagerty Policy if you like.



What would they base the value of my car onto then ? You can have 2 1970 chevelles on the road where one would be wort $2500 and the other be worth $45000(a little extreme)..... So how would then know the true value ? How would you go about about getting th true value ?

One of ,my friends recommends this solution to the problem (and he's had some seriously expensive cars:

Buy liability for yourself - get protected in case you get hurt or the other car/person gets damaged. THEN, take the money you would spend on damage insurance and put it all into your own bank account - for when your car gets smashed. YOU become the insurance company. As this could mean $1000+ a year easily, most damage could be fixed with 3-5 years' worth of "your own insurance" this way. The best news is that - if nothing happens - unlike regular insurance - you get the money back!

Not an ideal solution, but better than getting totally screwed.

USAA is good, but I think you have to have some relation to a military member or something.

USAA will not put anything but liability on any vehicle older than 15 years. They have a relationship with American Collectors Insurance for folks who carry their regular insurance with them. Their regular rates pretty much are lower than anyone I have ever been insured by. You do have to be some how tied to the military to get started.

One of ,my friends recommends this solution to the problem (and he's had some seriously expensive cars:

Buy liability for yourself - get protected in case you get hurt or the other car/person gets damaged. THEN, take the money you would spend on damage insurance and put it all into your own bank account - for when your car gets smashed. YOU become the insurance company. As this could mean $1000+ a year easily, most damage could be fixed with 3-5 years' worth of "your own insurance" this way. The best news is that - if nothing happens - unlike regular insurance - you get the money back!

Not an ideal solution, but better than getting totally screwed.


What about theft ? Anybody here has lojack on their chevelle ?

I used my State Farm agent. Sent them pics and we have an agreed value.

Won't know until something happens though.......

Boy are you in for a big surprise! I just went through this a month ago.

State Farm's "agreed value" is NOT, repeat NOT, agreed value!!! Ask your agent this:

"If, in the event of a total loss, will I possible recieve LESS than the agreed value?" They're answer will be YES. They have the right to "adjust" the value of the vehicle from the agreed amount if they feel for some reason it wasn't worth that amount. This means you have a serious, and IMO likely, chance of getting screwed.

Sure, State Farm only charged $100/6 months, but I felt Haggerty's $180/6 months was much more reasonable since there is no adjustment. Better read the fine print, don't just let them tell you how it works.

Been there, done that, have the T-shirt.

Thanks, I will call him today. That's not what we discussed when I signed up, but your experience is the real thing.......

Thanks, I will call him today. That's not what we discussed when I signed up, but your experience is the real thing.......

That's part of the fraud and the scam that the major insurance companies run with their "collector" insurance. They basically lead you to believe that it's agreed value that you're getting, when in fact it is not.

Read read read the fine print!

So collectors insurance is no better than regular insurance ?

So collectors insurance is no better than regular insurance ?

"collector insurance" which is actually "stated amount" insurance is actually worse than regular insurance. True collector insurance, or "agreed value" is the best option, but there are often restrictions like mileage, where you can drive, where you ahve to keep it, etc.

"collector insurance" which is actually "stated amount" insurance is actually worse than regular insurance. True collector insurance, or "agreed value" is the best option, but there are often restrictions like mileage, where you can drive, where you ahve to keep it, etc.

To expand on that, there seems to be two kinds of "agreed value".

First, places like Haggerty and Grundy offer agreed value at which is the exact amount you will recieve in the event of a total loss...no questions asked. That is what you will get, no less.

Second, is the agreed value from major companies like State Farm, Farmers, etc. A value is agreed upon, but it is the maximum amount you can recieve. The adjuster may de-value the vehicle if he or she sees fit.

To expand on that, there seems to be two kinds of "agreed value".

First, places like Haggerty and Grundy offer agreed value at which is the exact amount you will recieve in the event of a total loss...no questions asked. That is what you will get, no less.

Second, is the agreed value from major companies like State Farm, Farmers, etc. A value is agreed upon, but it is the maximum amount you can recieve. The adjuster may de-value the vehicle if he or she sees fit.

OK, lets say your with state farm and they de-value the car and you don't agree, what happens then?

I really am interested because I argue this with a buddy of mine all the time. I have Haggerty and he thinks I'm nuts because I have restrictions and he is with State Farm and has none for "the same insurance."

OK, lets say your with state farm and they de-value the car and you don't agree, what happens then?

I really am interested because I argue this with a buddy of mine all the time. I have Haggerty and he thinks I'm nuts because I have restrictions and he is with State Farm and has none for "the same insurance."

He is in for a surprise. Odds are he has stated amount coverage. Have him look at his policy very carefully, and not rely on what his agent tells him. If it says anything at all about "actual cash value" it's likely he has stated amount coverage and not agreed value. The two are NOT the same.

Here is a quote from my AON Collector Car policy:

Limit of Liability: If your covered automobile is stolen or involved in a total loss.
A. We will pay the limit shown under Coverage D. in the Declarations for each scheduled vehicle which is agreed to be the value of your covered automobile. A vehicle is considered a total loss when the cost to repair damage to your covered automobile exceeds the agreed value of the vehicle when fully repaired.

B. For all other loss or damage to your covered automobile, we will pay the amount necessary to repair or replace the property, which ever is less, provided you actually repair or replace the property with similar kind and quality, without regard to depreciation or betterment, but we will not pay more than the agreed limit per vehicle shown under Coverages D. in the Declarations.

I pay $171.00 per year for this agreed value coverage, and the policy provides standard coverages in addition, which are just like a non-collector policy. I carry 100,000/300,000/100,000 limits, no deductables, medical coverage, Uninsured Motorist, and towing. The only restriction is that I must have another vehicle insured under a seperate policy, that is registered as a regular use vehicle.

The Regular Use Vehicle Requirement states: You must own a "regular use" vehicle, insured by a seperate insurance policy. This policy provides coverage only for your "antique/classic or collectable", "Kit car/replica", "street rod", "cusomized/modified", "exotic", or "special use" vehicle(s) listed in the Declarations. In no event will this policy serve as your only automobile coverage.

The only other restrictions in the policy are:
1. No renting or leasing to any person for a fee.
2. No carrying persons or property for a fee, or any commercial use unless prior written consent has been obtained.
3. No use for illegal acts by any person.
4. No racing or speed contests, including tests for such events

Check them out on the web at: https://www.aoncollectorcar.com/index.jsp?link=utilitynav

OK, lets say your with state farm and they de-value the car and you don't agree, what happens then?

I really am interested because I argue this with a buddy of mine all the time. I have Haggerty and he thinks I'm nuts because I have restrictions and he is with State Farm and has none for "the same insurance."

LIke what kind of restrictions? There are not that many with my Hagerty policy. I can drive it whenever I want so long as I don't use it for an everyday car. I have no mileage restrictions, I can jack the value up when I see fit.

If you are using it for a daily driver, you won't, period. If the damage exceeds what they think the car is worth, it is considered totalled and you would have to buy it back IF you turned it in for a claim. No insurance company will give you collector car insurance with an agreed value policy and allow you to use it for a daily driver. I can copy the clause in my Hagerty Policy if you like.
You are exactly RIGHT:beers: Pete

ever notice that the few folks on here that are in the insurance industry never participate in these discussions?

Hi Rick....that statement isn't 100% true. ;) I work for GEICO and I've answered questions more than once for folks here and on the Team Camaro website. It gets kind of time consuming to keep answering the same questions about agreed value and stated value and a daily driver.

The bottom line is if you want to insure your car for a set amount and be positive if you have a total loss that you'll get that amount you MUST get an agreed value policy. With that policy there are going to be storage and usage restrictions in EVERY state in the US. Insurance underwriting is all about risk management, profit, customer service and retention. If a company can't make money and underwrite their risk properly they won't be around long.

BTW, I'm sorry you've had such bad luck with insurance companies. Maybe ya need to look into switching to GEICO! :D

dscabra that reads exactly like my Hagerty policy. I have to have another registered and licensed car for every licensed driver in the house, which sucks. I don't like the "speed contest" restriction either :)

OK, lets say your with state farm and they de-value the car and you don't agree, what happens then?


I went through that when my truck was stolen. They gave me an offer of some $3200, but I was absolutely positive I could not replace the truck w/ a similar vehicle for around $4000. After two weeks of negotiation and the claims adjuster telling me "this is the best I can do" (which was a lie), I finally got $4100 and accepted. Then I switched to Farmers Insurance.

He tried his damnedest to lowball me, you just need to stick to your guns. I'd hate to try the negotiations if the value was 10 times that...

I pay $171.00 per year for this agreed value coverage, and the policy provides standard coverages in addition, which are just like a non-collector policy. I carry 100,000/300,000/100,000 limits, no deductables, medical coverage, Uninsured Motorist, and towing. The only restriction is that I must have another vehicle insured under a seperate policy, that is registered as a regular use vehicle.


What state are you in? $171/year sounds pretty good to me.

Ryan

What state are you in? $171/year sounds pretty good to me.

Ryan

I'm in Colorado, and my agreed Value is $9,500. I just got a quote of $249.00 per year to take that value up to $15,000.

We're sorry, but this coverage is currently not available in your state.


Not available in Texas :mad:

the claims adjuster telling me "this is the best I can do" (which was a lie),He tried his damnedest to lowball me, you just need to stick to your guns. ...

could it be that the advancement in this field is baised on how well the adjuster SCREW'S the policy holder ????
Oh of course that wouldn't be P.C. :rolleyes:
P.S. if you read the fine print you'll find that your insured against everything... except what happened !!! :angry:

Here is a quote from my AON Collector Car policy:

Limit of Liability: If your covered automobile is stolen or involved in a total loss.
A. We will pay the limit shown under Coverage D. in the Declarations for each scheduled vehicle which is agreed to be the value of your covered automobile. A vehicle is considered a total loss when the cost to repair damage to your covered automobile exceeds the agreed value of the vehicle when fully repaired.

B. For all other loss or damage to your covered automobile, we will pay the amount necessary to repair or replace the property, which ever is less, provided you actually repair or replace the property with similar kind and quality, without regard to depreciation or betterment, but we will not pay more than the agreed limit per vehicle shown under Coverages D. in the Declarations.

I pay $171.00 per year for this agreed value coverage, and the policy provides standard coverages in addition, which are just like a non-collector policy. I carry 100,000/300,000/100,000 limits, no deductables, medical coverage, Uninsured Motorist, and towing. The only restriction is that I must have another vehicle insured under a seperate policy, that is registered as a regular use vehicle.

The Regular Use Vehicle Requirement states: You must own a "regular use" vehicle, insured by a seperate insurance policy. This policy provides coverage only for your "antique/classic or collectable", "Kit car/replica", "street rod", "cusomized/modified", "exotic", or "special use" vehicle(s) listed in the Declarations. In no event will this policy serve as your only automobile coverage.

The only other restrictions in the policy are:
1. No renting or leasing to any person for a fee.
2. No carrying persons or property for a fee, or any commercial use unless prior written consent has been obtained.
3. No use for illegal acts by any person.
4. No racing or speed contests, including tests for such events

Check them out on the web at: https://www.aoncollectorcar.com/index.jsp?link=utilitynav

checked them out, did the one line quote, e-mailed them a couple of questions, no response yet. Not impressed so far.

checked them out, did the one line quote, e-mailed them a couple of questions, no response yet. Not impressed so far.

Rick, don't email. Pick up and phone and call them.

I just bought a '71 Chevelle SS and am in the process of adding to my existing policy (Mercury). Supposedly, I just need to get it appraised by them then they'll insure it for that amount. After reading these email threads, I'll make sure to check if it's agreed upon value or stated value. I'll let you know how it turns out.

I'm in NY State and when I go to the AON site, it says they are not accepting new customers.....anybody else getting that or is it a NY thing?