Boss_Hotrod

Im in the same boat right now. Ive got about $50k in mine and NC is an at-fault state. Im worried that if I were to get hit some jackass insurance company will only pay me book value. Ive got to do some calling around and see what collectors insurance will do for me if that ever happened. Let us know what you find out.

yurizx6r

50K!? Wow, and I thought my ride was pimped! lol Yeah I will keep everybody updated on anything I find out, but do me a favor and do the same! I'd be interested to hear those numbers and companies. Although I hate insurance companies, I think this is a subject that we all need to think about. Our cars are not exactly a "good investment." lol

yurizx6r

I called Hagerty and they want $670 per year for a $8,000 policy and $750 for a $10,000 policy. Not too bad, but I'm wondering if I should pay that or just stick with my current policy that would be 500 per year with the $5,000 in additional custom parts coverage?

65Raven65

I pay $102 a year for $6000 agreed value coverage on my '87. I don't have a mileage restriction, but the car does have to be stored in a locked garage and I have to have a second daily driver vehicle on record and insured. (Doesn't have to be insured by my collector's insurance company)

I use Classic Collector's Ins.

65Raven65

I remember checking with them and finding that they were about double Classic Collector's. You may get a quote to see how much you'd save.

If you're paying $670 for $8000 worth of coverage, and I'm paying $102 for $6000, I bet there is some room in there for you to save a few dollars.

YMMV

bluebeastsrt

I pay $300 a year for 18K coverage. Full coverage. Agreed apon value. Must provide photos of car, store in a locked garage, and only drive 5k a year.

9redfox3

I use these guys seem fair !

http://www.heacockclassic.com/

yurizx6r

Damn, I guess I'm getting screwed with the Hagerty quote lol. I guess I will call them back and ask how much for $6,000 and call heacockclassic.com. Worst case I guess paying 580 per year with Progessive for full coverage and $5,000 in custom parts coverage would be fine. That's kind of strange about Hagerty though because I have a perfect driving record with no tickets or anything...

mjr46

^^^^I paid 220 a year from hagerty 5 years ago for 18k of ins on my 66 when I had it

yurizx6r

Ok so here is what I got...

Progressive:---------$620 per year for full coverage and $5,000 worth of "custom parts coverage." So it would be "KBB" value + $5,000 if totaled.

Hagerty--------------$750 per year for full coverage and $10,000 OR $680 per year for $8,000 worth of coverage.

Heacock-------------$253 per year for full coverage and $13,000 worth of coverage.


At first glance the Heacock looks by far the best, BUT I read this article..... http://www.acarplace.com/cars/insurance.html . It really made me think about "collective car insurance." Heacock wants to read my odometer and under no circumstances wants me to drive it more than a maximum of 6,000 miles per year. I would not either way, but frankly I don't think it's their business what I do with MY car. I also started seeing things like "you cannot drive it to and from work or school." Well life happens and once again....WHY WOULD THAT MATTER!? How is that your business where I go? I understand having no coverage at all on a race track, but besides that I don't want limits on what I can and can't do with my own car. I especially do not want to be asked 1,000 questions about where I was going and why after I have had an accident. I think I'd be stressed enough as it is.

All that being taken into consideration, I feel that even though it is more money I'm probably better off taking a small chance with Progressive. I have $5,000 worth of receipts in custom parts I could show them and plenty of pics. So as long as they don't pull some BS loophole (just like with the rest of them) I would get a minimum of $5,000 for the custom parts + anywhere between $1,500-$11,000 depending of what they deem the "car is worth." Even at the minimum I would get $6,500 and I could buy a decent fox with that and hopefully cherry pick some of my parts from my totaled car.