Antique/Collector Car insurance options for teenager?

[bhclark]

So, I can't seem to find a Collector Car insurance that will allow occasional/special use by a new/teen driver. Most want the drivers to be 25 or have 10 years driving experience.

So, how do I deal with this?

I don't expect to hand over the keys to my '65 Wildcat to my son when he turns 16, but it is destined to be his car and I would like to allow him to drive it on special occasions. School dances, prom, etc.

Should I insure the same car twice? Once on a Classic policy to cover full value and a second time on the regular household policy to cover the teen driver? Or would that violate the classic car insurance policy?

I'm scared enough of what a 16 year old is going to do to my rates...but even more scared of letting him drive a car that would not be insured with him behind the wheel.

I know when I was 16, my '65 Wildcat was my daily driver, but times have changed for sure....

[The Continental]

Is it the same 65 you had as a 16 year old? If so that is way cool.

[Mark Huston]

You may want to wait until your son has some miles under his belt before you turn him out on the road with the 65 Wildcat. At LEAST one year. I do not know of any new drivers that do not have an accident within the first year. I am sure the insurance companies are painfully aware of this also. Therefore, give it some time, one year or so, and then shop for a policy with a company that will insure the car with your son as an occasional user. This may require going with a traditional auto insurance company and not a collector car insurance policy.

[bhclark]

Is it the same 65 you had as a 16 year old? If so that is way cool.

I wish. I ran that car into the ground, especially with my daily drag races against a Pontiac Lemans.

Hence the reason it won't be a daily driver!

[Matt Harwood]

I think you're probably going to have to insure it with a regular company and be prepared to pay the staggering rates. I recall that both times I insured a collector car with two different companies, they specifically stated no young drivers. A mainstream insurance company will insure the car, not as a collectable but as a used car, unfortunately. Liability is by far the biggest expense with young drivers, so that's more critical than the car's replacement value. On the other hand, I'm guessing that your son has the proper respect for the old car, so with luck you won't need the policy unless something catastrophic happens.

I think it's unlikely to find inexpensive insurance on a V8-powered, rear-wheel-drive muscle car with a teenager behind the wheel, no matter how careful he is or how much history you have with the company. Don't bother doubling-up on insurance, that will just lead to headaches when the time comes to make a claim and is probably just throwing money away with the collector car policy.

You could offer him the same deal my father offered me: I'll buy 50% of any car you want and I'll pay for your gas or your insurance, but not both. That might help teach him the importance of driving carefully and some responsibility in a car that he had to earn.