i have mine insured for $55K and pay about $420 a year.

 

I bought mine for 5k and insured it for 7k through Haggerty. I planned on doing some light resto work...another 15k later I think i better give them a call back. Anyway, mine is a 600mile a year weekend cruiser. Their a fantastic company to deal with. Very helpfull and actually pleasent on the phone.

 

Which is why I question Grundy's. I remember them claiming other companies were too strict in limiting you to weekends and such. That's why I ask if anyone has personal experience as to how lenient they are in where/when you drive.

 

So far it looks like Hagerty will get my vote. I received lower quotes from two other companies but they have not responded to my specific questions yet. Hagerty responded almost immediately.

 

I thought classic car insurance was great, even covers while you are doing the restore, etc, especially for the price....except the exclusions. Check them VERY carefully! I was surprised by one (mentioned here) that says it even allows you to go for rides and you are covered... The fine print, limited to 100 miles per month... other classic insurance only covers if you are driving to or from a classic car show or classic car related function!
Then the theft or fire coverage, must be kept covered in a locked garage. Mine is kept in a locked yard in one of the portable garages as well as a custom fit car cover. Their policies don't cover it. They will let me buy the insurance, but there is no way they would let me collect on it.
When I read all the fine print that is online (not the actual policies that contain way more fine print). It doesn't seem to cover my classic car that would actually be driven. They want to cover older cars that would be securely stored and not used as a daily or occasional driver. I don't think any of them provide for the required (some states) liability insurance. most classic insurance only provide coverage if you are driving to a car show or club meeting. (same usage as a "Historic" license plate)
It is not a replacement for your regular "driving" insurance.. If you have liability, check with your regular insurance guy... You may be pleasantly surprised how much it would cost to upgrade your current insurance to include theft and accident replacement (agreed value)... My last car was only $90 more per year for full coverage at $8,000 value... even covered if the radio was stolen out of it..
IMO, Classic Car insurance should be called Show/Museum coverage.

 

OK. My question to my current insurance company was this: Is the value you have on my car an AGREED VALUE or STATED VALUE. Their response was: "If it was stolen or damaged we would pay up to $XXXXX depending upon the damage? We do depreciate on these polices!! But if it was just a fender we would replace the fender not the total amount of $27,500.

Can someone translate this????????

 

Its a bit confusing with the wording but I will try.

1.)If you car is stolen, they will pay the full amount of the policy. (make sure to look over your contract and see what value the car has, what ever is on paper is the amount they will pay) If you stated you wanted for instance 30k value on the car and the agreed value is 27k, they will only pay out 27k, the value of the policy.

2.) How can a classic depreciate? Im not sure on your next line, I think you left something out. Now lets say they DID tell you they will depreciate your vehicle each year for lets say 1500k, you need to drop the policy like a bad habit.

3.) As for the repairs, the last line is common sense, but they still need to let you know that if your in an accident and the car is not a total loss, they will pay to have the repair work done, not cut you a check for the policy amount.

***side note, repairs are tricky take a look to see if they will pay for original parts or just reproductions, this may or may not be a concern to you. It was for me***

 

I have HAD both Hagerty and Grundy. I left Hagerty when i finished building my car. I told them the car was modified and the premiums jumped to about $1k year. I moved to Grundy 2 years ago and just recently realized that if I take my car on errands then it may not be covered. I was not supposed to drive it to work. I could not live with that.

I started to check around and went with Chrome (ANPAC) for coverage. I did need to get an appriaisal which they let me use the body man that painted my car. I have mileage limitations of 10,000 per year but can use it when I want. They don't want me to use it as a dd but I can go to the mall, on trips, errands and occasionally drive it to work but not every day. I have it insured for the appraised value of $88k and it runs me $335 every 6 months. I pay more than with Grundy $565 yr but I can actually drive the car and not have to worry if I am covered or not.

 

I have my vette insured with Hagerty. About a month after I switched from State Farm to Hagerty, I had a claim. No problem. They paid without any issue. There was minimal savings when I switched but they let me declare the value $40k (probably worth $35k at best) also includes towing and any "parts" that I may have in my garage stolen (working on rebuilding the 327) which will be covered. No limit on miles and also no issue with driving it to work.

 

Trying to get an answer out of my current insurance company as to whether the value stated on the policy is stated or agreed is like pulling hen's teeth. I have 4 autos insured with this company, but come Monday 3 will go to GEICO and my 68 will go to Haggerty. I should not have to beg the insurance company for an answer, nor should my questions be danced around with no firm answer. Sooooooooooo loooooooooog State Farm!!!!!