car insurance for a antique car

[Lynnybird]

If I purchase a nice good in condition 1983 car, and its now considered an antique after 25 years old, can I insure it for less than $300. per year? and if so what are the conditions of distance and time of driving and where or anything else involved in the rulings of this type of insurance? thank you . From Long Island NY .

[Shop Rat]

Welcome. There are several insurance companies out there that insure antique cars. You will need to contact each one and tell them what vehicle you have and let them each tell you what policies that they can offer.

In addition, you need to check in your state and find out what restrictions apply if you decide to put "antique plates" on this vehicle if you buy it. It varies from state to state as to when and how much you can drive a car with the special plates on it. Some are very restrictive and some a more liberal.

[tbirdman]

Most antque insurance companies as mentioned have restrictions. Most of it has to be that you don't use it as a daily driver and have it stored in a locked garage.

The cost of the insrance has mostly to do with the agreed value which is what the insurance company will pay you if the car is totaled. I would think any thing south of $30K agreed value, would bring a less than $300 insurance bill.

[Guest Bluesky636]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Lynnybird</div><div class="ubbcode-body">If I purchase a nice good in condition 1983 car, and its now considered an antique after 25 years old, can I insure it for less than $300. per year? and if so what are the conditions of distance and time of driving and where or anything else involved in the rulings of this type of insurance? thank you . From Long Island NY . </div></div>

What is the car and how do you intend to use it?

Just because a car is 25 years old does not mean a specialty insurer will cover it.

Here is what Hagerty says about cars from late 70s/early 80s: http://www.hagerty.com/Auto/vehicle_70s.aspx

[charlier]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Bill_Haegele</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Lynnybird</div><div class="ubbcode-body">If I purchase a nice good in condition 1983 car, and its now considered an antique after 25 years old, can I insure it for less than $300. per year? and if so what are the conditions of distance and time of driving and where or anything else involved in the rulings of this type of insurance? thank you . From Long Island NY . </div></div>

What is the car and how do you intend to use it?

Just because a car is 25 years old does not mean a specialty insurer will cover it.

Here is what Hagerty says about cars from late 70s/early 80s: http://www.hagerty.com/Auto/vehicle_70s.aspx

</div></div>

I have butted heads with one company a couple of times over they years regarding vehicles they would not cover.

Their loss was another company's gain as far as my business is concerned.

For those shopping for insurance for an antique vehicle just remember there are several companies available for this type of insurance.

There are other companies that offer VERY competitive rates for the same coverage. If one company will not cover a car, chances are,

others will.

In my case, I went with American Collectors Insurance. They cover all my Volkswagens without any hassle and

at VERY competitive rates. Years ago, they also covered my 15 year old VW that has a Classic Pennsylvania Tag on an agreed value policy.

Six years later, they are still covering that vehicle.

As others have said, these insurance companies have rules which must be followed.

BTW, when insuring an Antique vehicle don't SKIMP on the coverage unless you understand the risks involved.

If one has an accident with an Antique, having adequate liability coverage may mean the difference between keeping or losing one's house

and other assets. If an Antique vehicle has an accident with an uninsured or underinsured driver the owner of the Antique better have enough coverage or they will be paying for the accident out of their own pocket.

FYI, I am not an insurance agent. Just someone trying to protect myself from other drivers with no or little coverage.

[MarkV]

AAA Classic is good, they cover my 5 older cars including the Mark V. But, look at the quality of coverage when you are recieving it, all insurance is not the same.

[Barry Wolk]

Hagerty paid out a claim to me that exceeded $75,000 on a policy that I hadn't even paid the premium on. I've found them more than cooperative.

I think their requirements of storing a car indoors in a locked facilty are very reasonable, under the circumstances. I've never heard of any mileage restrictions. The only restriction I know of is that you must maintain one insured daily driver for every member of the household before they will grant collector car insurance.

They insure several limited use vehicles for me. AAA charged me $1,250 a year for my '88 BMW 750iL and Hagerty only wanted $250 a year.

[MarkV]

AAA has a classic car policy now, which is separate from the normal policy.

[Barry Wolk]

They wouldn't insure the '88 as a classic. Not old enough when I applied. Plus, it's really not a classic, just a limited use vehicle.

[Dan Marx]

I recently added an "umbrella policy" for all my insurance and I had to be insured by the Antique Auto Insurance carrier specified by my primary carrier (USAA). After having Hagerty for many years, I was required to change for the insurance "umbrella policy". Hagerty provided great service when I was insured with them. So, be aware what your primary carrier requires, if any.

Dan Marx

[Guest Bluesky636]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dan Marx</div><div class="ubbcode-body">I recently added an "umbrella policy" for all my insurance and I had to be insured by the Antique Auto Insurance carrier specified by my primary carrier (USAA). After having Hagerty for many years, I was required to change for the insurance "umbrella policy". Hagerty provided great service when I was insured with them. So, be aware what your primary carrier requires, if any.

Dan Marx </div></div>

Unless you intended this "umbrella policy" to also cover your antique vehicle, I do not see how your primary carrier can force you to use their antique carrier.

[Terry Bond]

You'll never know how good (or bad) your insurance company is until you have a claim. I've been a JC Taylor fan for years and have seen them in action more than once. It's my personal recommendation anytime someone asks.

Terry

[imported_Bob Hill]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Barry Wolk</div><div class="ubbcode-body">Hagerty paid out a claim to me that exceeded $75,000 on a policy that I hadn't even paid the premium on. I've found them more than cooperative.

I think their requirements of storing a car indoors in a locked facilty are very reasonable, under the circumstances. I've never heard of any mileage restrictions. The only restriction I know of is that you must maintain one insured daily driver for every member of the household before they will grant collector car insurance.

They insure several limited use vehicles for me. AAA charged me $1,250 a year for my '88 BMW 750iL and Hagerty only wanted $250 a year.

</div></div>

I contacted several companies about insuring my antique cars. I quickly found out I wanted nothing to do with either of them. My family enjoys taking one of our antique cars on vacation - we tour the countryside and it allows us a great opportunity to bond with the kids - we have a 14 year old daughter and a 9 year old son. Both companies said we could not use out car for that purpose UNLESS we were going to a show while on vacation because it had to be hobby related. I asked how "driving our cars for pleasure wasn't part of the hobby?" and they simply said they didn't allow it. They more than wanted to insure my two Senior Cars since they are strictly show cars!! I politely told them what they could do with their insurance and stayed with State Farm and while it is 3 times the rate of those two, I would pay 10 times the rate before I would let them insure any of my cars. I can understand not being able to drive your car to work but on a pleasure vacation to me is more than I willing to be restricted.

BTW, I just calledanother company and got the same answer. I would suggest anyone who has either of these three companies ensure you never take an over night trip in your classic car unless it is around a car show

BOB

[Dan Marx]

As I understand it, an umbrella policy us just that, "an umbrella" that covers all possible liabilities, which includes your classic cars. Why would you not have all your possible liabilities covered. Just my thoughts.

Dan

[imported_Bob Hill]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Bill_Haegele</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Dan Marx</div><div class="ubbcode-body">I recently added an "umbrella policy" for all my insurance and I had to be insured by the Antique Auto Insurance carrier specified by my primary carrier (USAA). After having Hagerty for many years, I was required to change for the insurance "umbrella policy". Hagerty provided great service when I was insured with them. So, be aware what your primary carrier requires, if any.

Dan Marx </div></div>

Unless you intended this "umbrella policy" to also cover your antique vehicle, I do not see how your primary carrier can force you to use their antique carrier. </div></div>

An "umbrella policy" covers you regardless of whether it is someone who falls on your property and gets hurt or is hurt from an accident you cause on the roadway. It simply increases the liability limits of your current polices - home or auto. I have an "umbrella policy" mainly because we have a pool and a teenage daughter (with lots of friends) but I did have to make some changes in my auto coverage (something about limits - I don't remember right off the top of my head) in order to qualify.

I have a $1M umbrella policy that costs me $146 a year. Nice little piece of mind IMO.

[Jim Bollman]

When I got an umbrella policy a few years ago, there was a level of coverage for each policy it was covering. My JC Taylor policy was not at that level and when I contacted them they raised the coverage to that level at no additional cost and the company issuing the umbrella was happy. I have since changed umbrella companies and they had no problem either.

[Guest Bluesky636]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Bob Hill</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Barry Wolk</div><div class="ubbcode-body">Hagerty paid out a claim to me that exceeded $75,000 on a policy that I hadn't even paid the premium on. I've found them more than cooperative.

I think their requirements of storing a car indoors in a locked facilty are very reasonable, under the circumstances. I've never heard of any mileage restrictions. The only restriction I know of is that you must maintain one insured daily driver for every member of the household before they will grant collector car insurance.

They insure several limited use vehicles for me. AAA charged me $1,250 a year for my '88 BMW 750iL and Hagerty only wanted $250 a year.

</div></div>

I contacted several companies about insuring my antique cars. I quickly found out I wanted nothing to do with either of them. My family enjoys taking one of our antique cars on vacation - we tour the countryside and it allows us a great opportunity to bond with the kids - we have a 14 year old daughter and a 9 year old son. Both companies said we could not use out car for that purpose UNLESS we were going to a show while on vacation because it had to be hobby related. I asked how "driving our cars for pleasure wasn't part of the hobby?" and they simply said they didn't allow it. They more than wanted to insure my two Senior Cars since they are strictly show cars!! I politely told them what they could do with their insurance and stayed with State Farm and while it is 3 times the rate of those two, I would pay 10 times the rate before I would let them insure any of my cars. I can understand not being able to drive your car to work but on a pleasure vacation to me is more than I willing to be restricted.

BTW, I just called another company and got the same answer. I would suggest anyone who has either of these three companies ensure you never take an over night trip in your classic car unless it is around a car show

BOB </div></div>

There are no such restrictions in my policy from Hagerty.

[imported_Bob Hill]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Bill_Haegele</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Bob Hill</div><div class="ubbcode-body"><div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Barry Wolk</div><div class="ubbcode-body">Hagerty paid out a claim to me that exceeded $75,000 on a policy that I hadn't even paid the premium on. I've found them more than cooperative.

I think their requirements of storing a car indoors in a locked facilty are very reasonable, under the circumstances. I've never heard of any mileage restrictions. The only restriction I know of is that you must maintain one insured daily driver for every member of the household before they will grant collector car insurance.

They insure several limited use vehicles for me. AAA charged me $1,250 a year for my '88 BMW 750iL and Hagerty only wanted $250 a year.

</div></div>

I contacted several companies about insuring my antique cars. I quickly found out I wanted nothing to do with either of them. My family enjoys taking one of our antique cars on vacation - we tour the countryside and it allows us a great opportunity to bond with the kids - we have a 14 year old daughter and a 9 year old son. Both companies said we could not use out car for that purpose UNLESS we were going to a show while on vacation because it had to be hobby related. I asked how "driving our cars for pleasure wasn't part of the hobby?" and they simply said they didn't allow it. They more than wanted to insure my two Senior Cars since they are strictly show cars!! I politely told them what they could do with their insurance and stayed with State Farm and while it is 3 times the rate of those two, I would pay 10 times the rate before I would let them insure any of my cars. I can understand not being able to drive your car to work but on a pleasure vacation to me is more than I willing to be restricted.

BTW, I just called another company and got the same answer. I would suggest anyone who has either of these three companies ensure you never take an over night trip in your classic car unless it is around a car show

BOB </div></div>

There are no such restrictions in my policy from Hagerty. </div></div>

You may want to call tomorrow and double check because I was told this Monday morning that they would not cover my car if I was on a vacation that was NOT in conjuction with a show or car club tour. This is why I didn't go with Hagerty.

[Guest Bluesky636]

The terms of coverage provided is what is written in the policy, not what some telephone operator may say. It would not be the first time nor the last that someone says something that contradicts something that is written. I know several other people with Hagerty who will say the same thing about their policy - no such restrictions. There isn't even an annual mileage restriction in my policy. About the only thing in my policy not covered is daily use or commercial use which is illegal in Virginia anyway. Also, coverage can vary by state. Now, that is not to say that the coverage couldn't change at my next renewal, but they have to abide by what is written in my policy or notify me of a change.

[Guest rbl2]

I have Hagerty and they told me that they will not cover my car for daily use or trips to the store. But they did say that they understand and will allow weekly drives to keep the car battery charged and the oil circulated and with that in mind, they understand the need to stop and get a cold drink or a snack.

I told the man I had a dream about taking my car on an extended road trip and he said that would be permissible but I would have to contact them and clear it first.

[Guest Bluesky636]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: rbl2</div><div class="ubbcode-body">I have Hagerty and they told me that they will not cover my car for daily use or trips to the store. But they did say that they understand and will allow weekly drives to keep the car battery charged and the oil circulated and with that in mind, they understand the need to stop and get a cold drink or a snack.

I told the man I had a dream about taking my car on an extended road trip and he said that would be permissible but I would have to contact them and clear it first. </div></div>

No arguement with that. In Virginia, and I am sure in many other states, it is illegal to use an antique registered vehicle as a daily driver. Pleasure driving for the most part is undefined. I don't use my car to go to the grocery store for my weekly shopping. But like you say, if you are out driving around on a nice day and stop for lunch or a cold soda, tough to define that any other way but pleasure. We often take the car out to dinner or lunch in the countryside. That satifies a lot of things - pleasant company (my wife), a nice drive, exercises the car, and good food.

[Guest Bluesky636]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: pfloro</div><div class="ubbcode-body">We have had Grundy Collector Car insurance on our '66 Mustang since buying the car 8 years ago. Fortunately, we've never had to put in a claim...

What allowance is made if your daily driver is in the shop? One <span style="font-weight: bold">DOES</span> have to go to work. I suspect that substituting (even occasionally) the classic for the daily driver is strictly taboo but is this stated in any of your policies?

I'll have to check our Grundy policy's fine print on this...

Thanks,

Paul

</div></div>

Not allowed by my Hagerty policy (it says so). Also illegal in the state of Virginia. That's what rental cars, taxis, and public transportation is for.

[TexRiv_63]

If you want to drive an antique car like a regular car you have to register and insure it like a regular car. I went through this with my Riviera, I wanted it to be useable for all purposes so that is what I had to do. No antique plates, yearly safety inspection, and "Stated Value" insurance with State Farm. The only problem other than the insurance cost is a higher probabability of not collecting all the "Stated Value" without a fight in the event of a total loss.

[Matt Harwood]

How do they determine what is pleasure driving and what isn't? I plan on driving the Century to work now and again. Not exactly daily driving, especially since my drive is at 35 MPH on country roads, but techically I guess it's commuting. What's the difference whether I do it on a Wednesday or a Saturday? Traffic and conditions are identical, and it is one of my favorite roads to drive anyway.

How do they even determine how you're driving the car? If I get clipped at 8:15 AM on a Wednesday, is that automatcially not pleasure driving? What if I have the day off and am just out enjoying the car on a nice morning? If I get hit like that, you can bet I'll be taking the day off. What if I get hit in a parking lot? Am I not allowed to drive and/or park the car around town?

If they won't insure the car for a vacation trip, how am I going to drive it to multi-day meets that are more than 100 miles away (which I plan to do)? If you have to go to a show while you're vacationing to make it legit, how do you verify that you did? How do they prove that you did not? It's not like the local cruise night makes you register and gives you a receipt.

This seems like an awfully hard clause to define, let alone enforce. Or is it just semantics?

[Guest AntarcticDave]

I've told folks here we need to sponsor an employee car show at the office, if they want to see the 47 here. That way it would be for an auto show, and not commuting. :-)

[Guest Bluesky636]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: TexRiv_63</div><div class="ubbcode-body">If you want to drive an antique car like a regular car you have to register and insure it like a regular car. I went through this with my Riviera, I wanted it to be useable for all purposes so that is what I had to do. No antique plates, yearly safety inspection, and "Stated Value" insurance with State Farm. The only problem other than the insurance cost is a higher probabability of not collecting all the "Stated Value" without a fight in the event of a total loss. </div></div>

Stated value is not the same as agreed value: https://lelandwest.com/faq/stated-amount-explained.cfm

They WILL depreciate your car.

[Guest Bluesky636]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Matt Harwood</div><div class="ubbcode-body">How do they determine what is pleasure driving and what isn't? I plan on driving the Century to work now and again. Not exactly daily driving, especially since my drive is at 35 MPH on country roads, but techically I guess it's commuting. What's the difference whether I do it on a Wednesday or a Saturday? Traffic and conditions are identical, and it is one of my favorite roads to drive anyway.

How do they even determine how you're driving the car? If I get clipped at 8:15 AM on a Wednesday, is that automatcially not pleasure driving? What if I have the day off and am just out enjoying the car on a nice morning? If I get hit like that, you can bet I'll be taking the day off. What if I get hit in a parking lot? Am I not allowed to drive and/or park the car around town?

If they won't insure the car for a vacation trip, how am I going to drive it to multi-day meets that are more than 100 miles away (which I plan to do)? If you have to go to a show while you're vacationing to make it legit, how do you verify that you did? How do they prove that you did not? It's not like the local cruise night makes you register and gives you a receipt.

This seems like an awfully hard clause to define, let alone enforce. Or is it just semantics? </div></div>

Well, first of all, what does your conscience tell you?

How do "they" know that you are using the car as a daily driver? Here is one example that I know to be true.

The place where I work is gaurded by people carrying large caliber weapons. In addition, the county police also sit accross from the entrance fairly often. A person I know had his daily driver in the shop. The county police officer assigned that week observed him driving his antique registered vehicle into the facility each morning for four days in a row. On the fifth day, the officer pulled him over and ticketed him for violation of the antique registration laws.

In Virginia, driving to a show and driving for pleasure are two different parts of the law. When I am going to a show, I always have a flyer with me. If my wife and I are out pleasure driving it is up to me to make sure I am following the law and the terms of my coverage. Some people claim that everytime they drive their antique it is a pleasure. It is up to you to convince the police or your insurance agent of that. Yes, it is a gray area. Unfortunately, the burden of proof falls on the car owner.

[Guest Bluesky636]

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: AntarcticDave</div><div class="ubbcode-body">I've told folks here we need to sponsor an employee car show at the office, if they want to see the 47 here. That way it would be for an auto show, and not commuting. :-)

</div></div>

Our company does just that. Its on a Saturday too.