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Discussion Starter · #1 ·
Any of you have insurance on an old car that sits outside ? I know hagerty requires my Chevelle to be stored in a garage . I'm looking at buying a 68 c10 that will sit outside but it's a decent truck and I don't want to get regular insurance incase something happens to it they don't just give me like 500 bucks when there's no way to replace it for that .
 

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My State Farm agent allowed me to insure my car for a stated value, as opposed to book value... that may be an option...
 
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Stated value is not the same as agreed value, i.e. In the event of loss your coverage limits are the agreed amount.

The second type of coverage would be stated amount. In many cases, an individual will ask the insurance company that insures their other personal autos to add coverage for their collector car, so the insurance company will add the car to the policy with the stated value endorsement. This endorsement changes the loss payable clause to read:

"In the event of a total loss we will pay either the stated amount or the actual cash value, whichever is less".

The company may even ask for some type of documentation to determine the stated amount at the time they insure the car, and this stated amount will be listed along with the car on the declarations page. Because of this, the insured may think this is what they will be paid if they have a loss.

But, if the claims adjuster thinks that the actual value is less than the stated amount on the policy, they will pay you the lower amount. While there are some cases where this type of coverage would be OK, this is not the type of coverage that most people want for their collector car.
Collector Cars: Agreed Value vs. Stated Amount Insurance | Rongstad Insurance Services, Golden Valley, Minnesota
 
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I ran into the exact same problem and more. They wouldn't allow me to have collector ins because I don't own a car that's newer than 20 years old.

The newest car I own is almost 30 years old. That shouldn't effect my collector car ins. It gets hard when you have more than one.

Seems like they have a lot of restrictions and it's sad because these cars aren't driven very often and shouldn't cost that much or be that much of a hassle.
 

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The trouble with any of the classic insurance companies is if you actually DRIVE your car more than a 1000 miles a year, they wont insure it. So if you fit into that little box, its probably a good option. Doesn't for me.
 

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Stated Value means that the ins co can pay whatever they say the actual cash value is, which will usually be less than the stated value. In effect it means they can pay you whatever the hell they feel like, which will likely be not what you think is fair.
 

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On both of my 70s I use J.C. Taylor. Agreed value on both, NO driving restrictions. I average close to 4000 miles a year on my 70 Wagon. Both of my 70s have Pennsylvania Antique Plates. ( Best deal on the planet. $75.00 for the plate, ITS a ONE TIME FEE of Seventy Five Bucks, And the plate is forever. :surprise: NO driving restrictions, NO inspections, NO NUTTEN.)
Both 70s sleep in a garage. TRIVIA: In PA. to get an Antique Plate, The unit must be 25 years or OLDER and STOCK----- SO you can install an Antique Plate on your 1992 or older Car / Truck / Whatever.
Bob
I do know of a guy in Pa. who was driving a ( JUNK, Beat Up & Rusty 58 Chevy. Del Rey) as his everyday to work car with a PA. Antique Plates) Got captured, The state pulled the plate and the 58 can not be titled in Pennsylvania again. I may not be up to date on the PA. Antique plate laws, But my 70s have Antique plates.
 

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I have agreed value (Grundy Insurance) on all my collector cars, and regular license plates so I can drive them any time. New tabs on those cars only cost $15-18 per year. But to answer the OP's question, they are garaged all the time.

I'm also thinking about another 60's Chevy shop truck that probably wouldn't be garaged except during nasty weather, and it would have agreed value on it for insurance.
 

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Discussion Starter · #12 ·
I will have to do more research , I don't need it covered for a lot but need to make sure If it's stolen or wrecked I will get my money back
 

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I, too, have J.C. Taylor insurance. My wife's Tahoe is on a regular policy. I have 6 toys:
47 Chevy 2 door sedan
56 Chevy 2 door sedan
66 Chevelle 2 door hardtop
67 Malibu 4 door wagon
71 Chevy C30 Longhorn pickup
86 Monte Carlo SS
I can't get my wife to park outside, so the wagon stays outside (actually, it's my daughter and son-in-laws car. Everything but the wagon are parked in the garage.
 

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The trouble with any of the classic insurance companies is if you actually DRIVE your car more than a 1000 miles a year, they wont insure it. So if you fit into that little box, its probably a good option. Doesn't for me.
I have classic car insurance with agreed value of $20,000 on my Chevelle. They have what I would call a "soft" limit of 6,000 miles per year but they also have never requested an odometer reading for the car.

It is garaged though.
 

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Discussion Starter · #15 ·
I will have to see if it has to be at your residents or if it's ok to keep it up the street at my girlfriends dads garage .
 

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Not many helpful answers on what the OP's real question is here. Most everyone that replied also said that they had collector car insurance also said they have their car's garaged though.I'd be real interested in finding out if not garaging your car is the end all be all of getting collector insurance or not.
.
 

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I have classic car insurance with agreed value of $20,000 on my Chevelle. They have what I would call a "soft" limit of 6,000 miles per year but they also have never requested an odometer reading for the car.

It is garaged though.
That's all good until something happens and they check the odometer and decide to deny the claim.
 

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Although I didn't go with them Hagerty offered "Collector Car Insurance" on my 76 K5 Blazer. When I filled out the online "Quote" request I specified that the vehicle was stored outside, under construction, and would be driven less than 5000 miles a year. I won't go into all the details here, but if you like I can send the info to you later. The premium was $275 for the year. I will be going with them next year unless I find something better after I move the Blazer to our new house.
 

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That's all good until something happens and they check the odometer and decide to deny the claim.
How would they know since they never request an odometer reading? I told them I may drive my 69 Malibu 10000 miles a year they said no problem..
 

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How would they know since they never request an odometer reading? I told them I may drive my 69 Malibu 10000 miles a year they said no problem..
What insurance company is this?
 
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