Insurance Company Recommendations

[jaybee47]

Am asking for recommendations for insurance companies that would cover multiple antique/vintage vehicles. Cheapest premiums, best reliable service, etc. Thank you.

[Matt Harwood]

You will get recommendations for all the big companies: Hagerty, Grundy, JC Taylor, etc. They're all fine organizations and rates and service are probably competitive. Use an insurance company specifically geared for antique cars--while companies like State Farm and Geico advertise that they'll cover old cars, they don't really want to and they're not geared for it, but you'll only find out when you have a claim. My impression is that you'll have better luck with a specialist.

 

Call all the companies that insure old cars and ask for rate quotes. Be sure to check restrictions (such as where you can store your car, the conditions under which it has to be stored, are there any mileage limits, etc.). Be aware that the cheapest may not be the best for your situation and you should always make sure you have appropriate coverage to protect yourself--$12,000 worth of liability is a lot cheaper than $500,000 but it won't save your house if you maim someone.

 

Collector car insurance is shockingly cheap no matter who you use. Don't go extra cheap and cut corners--it only seems like cutting corners is worth it until you need the insurance to go to bat for you.

 

And make sure you're buying an agreed value policy. That's the only way to go with an antique car.

 

 

Edited March 4, 2020 by Matt Harwood (see edit history)

[John_Mereness]

We have never had the slightest problem with State Farm. 

 

[John_Mereness]

30 minutes ago, Matt Harwood said:

and you should always make sure you have appropriate coverage to protect yourself--$12,000 worth of liability is a lot cheaper than $500,000 but it won't save your house if you maim someone.

A lot of people overlook this.

 

By the way, lot's of really messy insurance stuff out there (you should hear the stories I hear via being an Attorney) - minimal coverage is NOT a good thing. 

[padgett]

OTOH having too much insurance could be attorney-bait. That is the first thing they find out.

 

ps in Florida if you have comprehensive then windshield glass is no charge.

 

 

[gossp]

I agree with all of Matt’s comments and will stress checking restrictions. In the past some collector car insurance companies had restrictions you wouldn’t think about, such as you are only covered on organized functions, so a trip to the ice cream stand with your grand kids technically wasn’t. Drivers age restrictions also exist, this was a hurdle when I was young and forced us away from collector car insurance companies, because they wouldn’t cover a teen driver, one company even drew the line at 24 years of age. 
 

Absolutely yes to agreed value coverage and also check on the cost to keep what is left in case they call it a total loss. Due to the high cost of restoration/repairs, they might choose to just pay you for a car you might want to keep and be able to repair yourself. Keeping the remains will likely be a percentage of the agreed value. I have no idea what the percentage is by company. Actually, I need to find out what it is with the company I use!

[Terry Bond]

Our personal recommendation is J.C. Taylor. They are outstanding supporters of AACA and the old car hobby. Insurance is all about performance on a claim. I can attest to their outstanding claim service, and have seen them in action numerous times.  People are always looking for the cheapest, but in my opinion the question should be about how they perform. 

Terry

[Marty Roth]

8 minutes ago, Terry Bond said:

Our personal recommendation is J.C. Taylor. They are outstanding supporters of AACA and the old car hobby. Insurance is all about performance on a claim. I can attest to their outstanding claim service, and have seen them in action numerous times.  People are always looking for the cheapest, but in my opinion the question should be about how they perform. 

Terry

 

I Absolutely agree with Terry Bond, and have had exceptional service and support from J.C. Taylor - through a few unfortunate incidents, as well as the devastation of Hurricane Katrina -

I switched to J.C. Taylor back in 1985 after noting an issue where another insurer discouraged youthful drivers, and Taylor, after discussion, actually encouraged the inclusion of our children in driving activities!

[alsancle]

My dad and I have had great experience with J.C. Taylor.  He for 40 years and me 40 over 20.  Both of us have had to make claims,  and in my case they sent me a check based on my inspection and estimate.

[padgett]

Guess I should have mentioned have had JC Tayler for long enough that my policy to qualifies for AACA.

[John_S_in_Penna]

1 hour ago, padgett said:

Guess I should have mentioned have had JC Taylor for long enough that my policy to qualifies for AACA.

 

I think you're joking, but please don't confuse the original poster

as he tries to figure out what you mean.

Any 25-year-old car qualifies for AACA, and most collector-car

insurance companies will insure specialty cars newer than

25 years old.

[60FlatTop]

I have been with J. C. Taylor since I was 25. And they recognized my 1994 Impala SS as a special model prior to it reaching 25 years of age.

 

Bernie

[FLYER15015]

I have Condon and Skelly out of Cherry hill, NJ on both the the '40 Buick LTD and the '31 Chrysler Imperial.

Both are "declared value" cars and they had no problem with what I valued the cars at, which in turn sets the premium.

I think their premiums for both cars are very reasonable, though I've not yet turned in a claim.

 

Mike in Colorado

[padgett]

Sorry I confused and mispeeled that but have apparently had JC Taylor since 1988 so over 25 years (and they also insure Modifieds, Customs, Replicas, Kit Cars, Hot Rods, Exotics, Rare Vehicles, and horrors... Resto-Mods).

[ted sweet]

state farm in my experience is terrible

[gossp]

8 minutes ago, ted sweet said:

state farm in my experience is terrible

I had State Farm liability only coverage on a 65 falcon while I was in college... around 1999-2000 and the car was hit in the parking lot of the convenience store I was operating the cash register at. It was hit by a toddler left unattended in a running car... but... in Indiana uninsured motorist coverage is mandatory and State Farm spent north of $5,000 fixing a $2000 car!  We even offered them a cheaper out but they insisted on the fix. 

[nick8086]

We have been with JC Taylor since 1968..

 

The only thing that has change over the years.. They will not insure a rusty  car, no motor in the car.. and other stuff..

 

Min 3K   coverage to get insurance..

 

I was paying 41 cents a year to insure a kaiser until I sold it..

Edited March 5, 2020 by nick8086 (see edit history)

[Tom99]

I have had one claim with JC Taylor. I could not ask for better service.

[Restorer32]

Bear in mind that regardless which insurance company you choose, in the event of a claim the adjuster who shows up to appraise the damage will likely know very little if anything about antique cars.  All insurance companies farm out their adjustment work to adjusters from the area in which the car lives.  In our 42 years experience restoring we have done a few insurance jobs and not once has the adjuster who showed up known anything about antique cars.  One adjuster wanted to know why our estimate included money  to straighten and replate a '29 Pierce rear bumper that was badly damaged.  His comment was "Wouldn't it be cheaper to just buy a new bumper?".

[alsancle]

11 minutes ago, Restorer32 said:

Bear in mind that regardless which insurance company you choose, in the event of a claim the adjuster who shows up to appraise the damage will likely know very little if anything about antique cars.  All insurance companies farm out their adjustment work to adjusters from the area in which the car lives.  In our 42 years experience restoring we have done a few insurance jobs and not once has the adjuster who showed up known anything about antique cars.  One adjuster wanted to know why our estimate included money  to straighten and replate a '29 Pierce rear bumper that was badly damaged.  His comment was "Wouldn't it be cheaper to just buy a new bumper?".

 

I had some shipping damage on one of my cars,   not the shippers fault.   J.C. Taylor had me take pictures and then get a estimate (from my shop).    It was not cheap given the damage,  but they paid the claim right away.

[Steve Moskowitz]

Matt is right  that there are many good insurance companies around.  As for JC Taylor, they have been a huge supporter of AACA.  They have donated extensively to all our projects including our building fund and the annual meeting.  They are the longest running advertiser in our magazine.  Fine people and a company that gives extensively to the hobby.

[jaybee47]

Thank you so much to all for your valuable replies. I will certainly follow up and request quotations from the recommended companies.

[TTR]

15 hours ago, Restorer32 said:

Bear in mind that regardless which insurance company you choose, in the event of a claim the adjuster who shows up to appraise the damage will likely know very little if anything about antique cars.  One adjuster wanted to know why our estimate included money  to straighten and replate a '29 Pierce rear bumper that was badly damaged.  His comment was "Wouldn't it be cheaper to just buy a new bumper?".

While I generally don’t do insurance work, I had a similar experience several years ago with a major claim involving customers high value (hand-built) vintage Italian 12 cylinder sports car. The policy carrier was one of largest in the nation and of the 3 adjusters, 2 of their superiors + 2 of the superiors superiors I ended up having work with on that case and IMO all seem to have very little, if any, clue how to deal with the claim of that type or size. It took us nearly a year to negotiate settlement and get paid. I learned a lot, including never again and the true value of an insurance won’t be revealed until (major) claim has been filed.

 

Also, from what I’ve heard/seen from experiences of customers & friends, many classic car carriers often drop, i.e. not renew a policy, after a major claim has been settled. Meaning, they all love you and give you calendars, goodie bags, mouse pads and trinkets until you start costing them more than they make off of you.
 

Edited March 6, 2020 by TTR (see edit history)

[ted sweet]

11 hours ago, gossp said:

I had State Farm liability only coverage on a 65 falcon while I was in college... around 1999-2000 and the car was hit in the parking lot of the convenience store I was operating the cash register at. It was hit by a toddler left unattended in a running car... but... in Indiana uninsured motorist coverage is mandatory and State Farm spent north of $5,000 fixing a $2000 car!  We even offered them a cheaper out but they insisted on the fix. 

they also trick owners by not offering agreed valve in many states. i had a deer hit claim on my daily driver. it sat 2 weeks below the adjuster showed up because i refused to use one of their preferred shops

[ted sweet]

2 hours ago, Steve Moskowitz said:

Matt is right  that there are many good insurance companies around.  As for JC Taylor, they have been a huge supporter of AACA.  They have donated extensively to all our projects including our building fund and the annual meeting.  They are the longest running advertiser in our magazine.  Fine people and a company that gives extensively to the hobby.

 

 

i dropped taylor 20 years ago when they refused to insure by 73 dart with comments that cars after 1970 arent collectible and never will be

[Restorer32]

Contrary to the experiences related above we have found insurance companies understand that antique car repairs can be bottomless pits and just want to settle the claim and move on. The last insurance job we did ended up costing double the initial estimate due to hidden damage. The company paid it without complaint. This was a $7000 claim.  We have never done any really major, i.e. $50,000 or more,  insurance jobs.  Your experience may vary.

[padgett]

Interesting. At one time I just had a '70 and '72 on JCT. Today I have a 70, 88, 00, and 01. Have been told if I buy an XLR,they can insure as an "exotic".

[charlier]

1 hour ago, ted sweet said:

i dropped taylor 20 years ago when they refused to insure by 73 dart with comments that cars after 1970 arent collectible and never will be

 

I had basically the same experience with a different company with a vehicle about 20 then again 15 years ago. That company was mentioned earlier in this discussion (Not JCT). First excuse was that the car was not old enough at 23 years old. Second excuse kind of inferred that the car was not collectible (at 28+ years old). Since then this company has been dead to me ever since. Recently my current antique insurance carrier sold their business to the company that would not touch my cars back then. Next policy renewal I will be shopping for a different carrier and will be looking closely at JC Taylor. Last Sunday at the Swap Meet at Hamburg, PA I had a nice chat with a JCT rep at this event. Very nice fella and fellow AACA member as well.

[JACK M]

I am with Hagerty.

I like them because I get a new grocery bag and a pen for free at every major car show.

Never had a claim in my 30 plus years.

[Restorer32]

We like Grundy even though we are a Hagerty Approved Repair Shop.  Jim Grundy's grandad was a Pullman dealer and he owns a Pullman. We have restored 2 Pullmans (Pullmen?).

[Buffalowed Bill]

For years I was with JC Taylor. I honestly don't know why I switched to Hagerty, but it must have been something other then an arbitrary choice. If everything had remained the same I wouldn't have made the change. In most things like insurance I don't want to think about it-put it on autopilot. I appreciate the service I have gotten for Hagerty. The old car niche insurance industry has become much more competitive since the days that JC Taylor was preeminent, four decades ago.

[TTR]

10 hours ago, Restorer32 said:

Contrary to the experiences related above we have found insurance companies understand that antique car repairs can be bottomless pits and just want to settle the claim and move on. The last insurance job we did ended up costing double the initial estimate due to hidden damage. The company paid it without complaint. This was a $7000 claim.  We have never done any really major, i.e. $50,000 or more,  insurance jobs.  Your experience may vary.

My repair estimate (six figures) was settled as “case closed” , i.e. no additional funding available for hidden damage or otherwise, before actual work got started, but I also invoiced them separately for dozens of hours to prepare, negotiate/argue/prove my estimate and several months worth of storage due to their feet dragging.

I’m sure those adjusters & their supervisors or the company never wants to deal with me again either. 🙄

Edited March 6, 2020 by TTR (see edit history)

[Marty Roth]

7 hours ago, charlier said:

 

I had basically the same experience with a different company with a vehicle about 20 then again 15 years ago. That company was mentioned earlier in this discussion (Not JCT). First excuse was that the car was not old enough at 23 years old. Second excuse kind of inferred that the car was not collectible (at 28+ years old). Since then this company has been dead to me ever since. Recently my current antique insurance carrier sold their business to the company that would not touch my cars back then. Next policy renewal I will be shopping for a different carrier and will be looking closely at JC Taylor. Last Sunday at the Swap Meet at Hamburg, PA I had a nice chat with a JCT rep at this event. Very nice fella and fellow AACA member as well.

 

For a great many years, J.C. Taylor has, in addition to our collection of over-25-year-old vehicles, ALSO insured newer collectible vehicles, those which were less than 25 years old.

 

Taylor has always treated us fairly, and is always cognizant of the potential for concealed damages. - I switched to Taylor in 1985 after Grundy made it perfectly clear that they would not allow youthful drivers to drive our collectibles, and wanted me to provide a notarized document that nobody under (I believe it was) 35 years of age would drive them.

 

Additionally, Bob Wallace is a strong supporter of AACA, has a very effective staff, and has earned my loyalty.

[hidden_hunter]

Here in Australia, I’ve been with Shannon’s for a couple of years and no complaints.

 

Pretty reasonably priced, something like $150 per year with $20m liability (which is standard for pretty much every policy here)

[Brill_C-37M_Bus]

Hagerty has been fantastic for me.  J.C. Taylor would not touch insuring a bus registered as an antique, no matter what I did.  But Hagerty made no issue of it.  Now the old bus is well insured for far less cost than I expected.  And everyone I’ve ever talked with, phone or at a Hershey meet, has been knowledgeable, helpful, friendly, and just the right level of interested in my restoration project.

 

 

[leomara]

This is a great discussion.  I've had J.C.Taylor for years and no claims.  I have State Farm for all my other home and auto coverage.  I also have an umbrella policy from State Farm because here in New Jersey there are a lot accidents and big lawsuits because everyone who lives here is perceived to be "wealthy".  Here's the rub, State Farm will not include my collector car under my umbrella policy because  they don't have the primary policy.  If I want to switch my coverage to from J.C.Taylor to State Farm the cost for a year of coverage doubles.  It's a quandary......................

[TTR]

Buying insurance, be it for your home, daily driver, classic/vintage car, is like buying any other product or service, you get what you pay for, but with insurance, you unfortunately won’t  find out its real/trye value until you have a (major) claim. Prior to that you’re essentially paying for nothing more than perception for peace of mind.

Lowest premiums, elaborate promises along with practiced greetings/smiles & free trinkets offered by representatives (i.e. trained, professional salesmen/-women) of various companies at car events or shows shouldn’t be confused with “good coverage policy”.

 

These sales reps at car events/shows aren’t there because they want to be your buddies or hangout with you.
They’re there because it’s in their job description/expectation and are being paid to convince you into believing otherwise, i.e act like they really care.

Or do you also believe the used car salesperson* at the local auto mall truly having your or your family’s best financial interest in mind when he/she “needs to go to talk to the boss” to get you a deal for the car of your dreams or desires ?
 

*Not that there's anything wrong with being a used car salesperson or insurance -rep. Just like most of us, they too have mouths to feed, mortgages (with mortgage insurances) and other recurring life expenses to pay.

I know several great individuals earning a living in insurance industry and even one or two in used car sales business. 🙂

Edited March 7, 2020 by TTR (see edit history)

[Ron Green]

23 hours ago, ted sweet said:

 

 

i dropped taylor 20 years ago when they refused to insure by 73 dart with comments that cars after 1970 arent collectible and never will be

 

Same experience here only 8 years ago with zero claims and excellent driving record. No to 72 Corvette, 76 Citicar and 67 Amphicar. Hagerty said yes to all with agreed values including full recovery on the Amphicar if sunk ($40 additional). They also just insured my 97 Chevy Centurion pickup with agreed value. Last year lady ran a stop sign damaging the

Corvette and Hagerty could not of handled it any better dealing with her insurance company as the estimate was 50% low. Five vehicles total with agreed value for around $900.

[jaybee47]

UPDATE: I inquired with all of your recommended insurance carriers. I found Heacock Insurance (Josie Chopel, 800-678-5173 ext 6024) to be the best overall, in terms of full coverage, service and premium amount. Thank you to all for your replies and comments that enabled me to make a choice.

[CarFreak]

On 3/5/2020 at 8:15 AM, Steve Moskowitz said:

Matt is right  that there are many good insurance companies around.  As for JC Taylor, they have been a huge supporter of AACA.  They have donated extensively to all our projects including our building fund and the annual meeting.  They are the longest running advertiser in our magazine.  Fine people and a company that gives extensively to the hobby.

 

They also strongly support many of the marque clubs.