Classic car insurance?

[Popbigguy]

I tried the site search to find out if we had a thread on this, but didn't find anything. I think the site search is useless, IMO. Must of driven to many miles to PA!! ( But it was worth it!). Well,,, when I sent the mileage report for all of my cars in, they must of noticed. Now that they say I drive more than 3K a year on the X, ( I don't remember signing up for that?). They have raised my rates, almost doubled! I've been checking into some "classic car" insurances. Some companies will allow the XLR's to be in these policies and you can set the value of the car to what you want. But again you have to watch for mileage limits. Some quotes that I got: Hagerty, with a guaranteed value of $45K the quote was as high as my current "doubled" insurance and I don't remember if they have a mileage limit. The interesting quote was from Condon Skelly (anyone heard of them?) With the same value of $45K and unlimited mileage, the cost was in line with what I use to pay for insurance. Does anyone else use these special insurance companies?

 

[jjsea55]

I use "Classic Automobile Insurance Agency" out of Indianapolis for my '55 Chevy Belair, which is affiliated with American Modern Insurance Group. I've used them for a few years and have never filed a claim. I can't speak to whether they will cover an XLR or V... perhaps only models considered antiques. They do incorporate milage restrictions, but there may be ranges. You might give them a call: 800.397.0765

 

[Cadillac Tech]

I tried the site search to find out if we had a thread on this, but didn't find anything. I think the site search is useless, IMO. Must of driven to many miles to PA!! ( But it was worth it!). Well,,, when I sent the mileage report for all of my cars in, they must of noticed. Now that they say I drive more than 3K a year on the X, ( I don't remember signing up for that?). They have raised my rates, almost doubled! I've been checking into some "classic car" insurances. Some companies will allow the XLR's to be in these policies and you can set the value of the car to what you want. But again you have to watch for mileage limits. Some quotes that I got: Hagerty, with a guaranteed value of $45K the quote was as high as my current "doubled" insurance and I don't remember if they have a mileage limit. The interesting quote was from Condon Skelly (anyone heard of them?) With the same value of $45K and unlimited mileage, the cost was in line with what I use to pay for insurance. Does anyone else use these special insurance companies?

Contact Adam Boca @ the NCM, he may be able to help you. We know several people that have their vehicles insured with the NCM.

 

[XLRATING]

Insurance follies

So we started looking for cheaper insurance for the XLR's. Looked at a few collector car companies, but they all restricted you to driving only to car shows. No top down pleasure drives - who wants that?! Then we found one that permitted driving for "activities consistent with participation in vehicle exhibition, club activities and leisure or pleasure drives." Looked like the ticket, did some research & determined the company was reputable, so we filled in an online quote form. They gratuitously put the V in the "exotic" category willy_nilly & provided a computerized quote.

The entertainment began when we called to follow up. The agent told us we could only drive to car shows. When we told her what the web site said, she said she was sorry if the site was misleading. She also said they had "never" insured ANY Cadillacs ever confused: - sooo, how come you managed not only give a quote online but put the V in a different category than the base?). Finally, they only insure cars that are worth more than when purchased new (though they had no problem with the Ford which is not worth more than when new).

Just to make a point we located the "leisure and pleasure drives" on the site & called back to point it out to the first agent we spoke with. She was on the phone & we ended up with agent #2, who said they WOULD cover leisure driving, & wanted to take the info to get a quote from the underwriters so there was no issue with "never" insuring Caddies.

Needless to say the two totally different stories didn't inspire confidence so we are moving on & looking elsewhere. But it was an unreal experience!

 

[Phrede]

I too have been having a tough time with insurance companies quoting lately. I am having to move my other insurances due to purchasing an additional property and my current homeowners company could not deal with it. Talking with them and all their slimy doubletalk is discouraging. One of my biggest complaints is that most will not provide details about what you are purchasing until AFTER you buy the policy!! I want to know and compare the coverage and exceptions before I write the check.

What they expect is akin to me going to a car dealer, writing a check and saying "Let me know what you pick out for me". I suppose they do it because people don't care about the details??

As far as the XLR insurance I don't know if classic car insurance would be much benefit. I pay $477/yr on my V. My pick-up is $412.

 

[fcarga]

I spoke to Adam Boca at the Nat'l Corvette Museum yesterday, and he will insure the XRLV though American Modern said that they would probably not but would if Adam was agreeable! All very confusing, but am switching to Adam as the Company that I was with for a number of years will no longer write policies in GA and the company they wanted me to go with has a poor reputation.

 

[XLRATING]

I too have been having a tough time with insurance companies quoting lately. I am having to move my other insurances due to purchasing an additional property and my current homeowners company could not deal with it. Talking with them and all their slimy doubletalk is discouraging. One of my biggest complaints is that most will not provide details about what you are purchasing until AFTER you buy the policy!! I want to know and compare the coverage and exceptions before I write the check.

What they expect is akin to me going to a car dealer, writing a check and saying "Let me know what you pick out for me". I suppose they do it because people don't care about the details??

As far as the XLR insurance I don't know if classic car insurance would be much benefit. I pay $477/yr on my V. My pick-up is $412.

I had already decided to ask for a copy of the actual policy before I would agree to sign up. Don't know that the companies will agree to that, but if they don't I can keep on walking. Not that the policies are easy to understand, but at least I won't be relying on someone who will say anything to make a sale.

The agreed value provisions do run the collector car insurance up. We're just trying to find someone to better account for the low mileage & type of usage.

Unfortunately per Adam Boca NCM isn't licensed in my state.

 

[WB6BBZ]

I too have been having a tough time with insurance companies quoting lately. I am having to move my other insurances due to purchasing an additional property and my current homeowners company could not deal with it. Talking with them and all their slimy doubletalk is discouraging. One of my biggest complaints is that most will not provide details about what you are purchasing until AFTER you buy the policy!! I want to know and compare the coverage and exceptions before I write the check.

What they expect is akin to me going to a car dealer, writing a check and saying "Let me know what you pick out for me". I suppose they do it because people don't care about the details??

As far as the XLR insurance I don't know if classic car insurance would be much benefit. I pay $477/yr on my V. My pick-up is $412.

I had an attorney tell me once, "Insurance companies are in the business of COLLECTING PREMIUMS and will do everything they can legally get away with to keep from paying out claims!"

 

[Stella]

My mother has been a insurance agent my whole life. She works for the company that has commercials that the girl meets a "French model on the INTERNET". Well you have to remember insurance companies are around to MAKE MONEY. Yes they wanna collect and of course not willing to hand out money. I have a policy that is good for 9 months and the other 3 are fire theft while she's sleeping. If I wanna take it out I just notify the agent and its fully covered. I pay 389 a year figured it was good. Of course I have never been in a accident in my life knock knock but it a reputable company that pays on the claims. Like said some companies will find the loop hole.
I also have my custom bike through them. I went had the bike appraised by one of their people to have the bike insured for going value verse blue book or what ever they use. If you get in a accident they fix it. Now if its totaled your probably not gonna get the check you think. In my eyes if the car is in a accident it has no value to me anymore get rid of it. I was told by someone that insurance companies are gonna be phasing out home owners insurance because of all the disasters their loosing their butts off. Said people will have to get homeowners through the GOVERNMENT. now that what we need more big brother. Ill see what she says about your questions

 

[First Robin]

I have three homes, the DTS and yXLR plus my Umbrella Policy all with State Farm. They do cover classic cars as I had that on my 1969 Grand Prix when it became a classic. Have never had any trouble with State Farm and when I did an apple to apple on all of my policies I found State Farm had the best rates and coverage. I have been with State Farm since 1957.

 

[Phrede]

The State Farm agent I contacted was one of the worst. They absolutely would not provide me details before I purchased a policy. They get none of my business. I suppose other agents may be different. I just can't get over why they refuse to provide details.