I currently have my 68, along with my other vehicles, insured by State Farm. I understand this might not be the best insurance for a classic. If you have any experience with insurance for classic cars please give me some 'DOs' and 'DON'Ts' and what to look out for. Also, is the 'agreed value' what the insurance company will actually pay if the car is totaled or stolen? Do I need to get an appraisal before I get insurance?

 

just insured my 66' with Hagertys. I've never heard any negative remarks about them
the premium was half of what liability only was with my old company

 

I have my 66 insured with American Collectors Insurance Co. ( 1-800-630-3917) for the past several years and have no complaints nor have I heard of any complaints from anyone. I have Liability, Uninsured Motorists(required in Georgia) and Comprehensive plus towing all for $130 per year. I do not have Collision insurance. This is way, way less than what I used to pay Allstate.
You declare the value of your car and an estimate of maximum miles you will drive in a year. If my car is stolen, etc. they pay my declared value. You have to submit photos with your application.

 

I use Infinitys Collectors Insurance. The car is insured for 25k (I set the amount) and I pay $143 a year. I was expecting a full inspection but I was given a list of items to be photographed so its very easy to get coverage. Another plus is the appraised value of the vehicle goes up $1200 each year with no extra charge to you.

The only snag you might run into is the requirement to keep the car garaged and covered when not driven. I also cant leave the car un attended in a shopping center parking lot and run into a store.

Make sure you read the fine print on the classic policies. Remember, insurance company's are crooks when it come time to pay out a claim so make sure your needs are covered before you sign the contract.

Let us know what you decide.

 

I use the Auto Club of America. I was given options on how much I wanted it insured for and here in Cali, our insurance is more than everywhere else. I only pay 650 a year with it insured for 20K.

 

I stuck with Allstate after one of the Classic Companies said I couldn't run errands in the car. I said so with your policy I can't run down to K Mart on Saturday to pick up something. He said that's right.

I live in America dammit and I drive my classic Mustang where ever and when ever I want. I do have a garage and I leave it in the parking lot of the mall or the gym if I want.

 

i use hagerty. no complaints. my policy is up for renewel this month, i think i might ask them about increasing my declared value of the car. lets see what that will do to my premium. i think i lowballed myself.

 

Anyone use Grundy's? He talks a good talk with some outstanding prices. I'll be looking at them a little closer when the time comes, but I've never heard from someone with first hand experience. They're worth a look, I believe.

 

Make sure you do that!

I bought a '67 coupe for $8000 in 2007. I insured it through Hagerty for $10,000. Then I dumped a bunch of money into the car. I had about $14,000 in the car when Hurricane Ike flooded my home. The water got just inside the car - carpet for sure, maybe the seats, but no higher than that. Hagerty came out and determined the car would have to be stripped and repainted, which would cost more than I had it insured for. They wrote me a check for $10,000 and poof, the car was gone.

I was given the option of buying the car back for 1/3 ($3300) and get a salvage title, but since I was busy with a flooded home, I let it go.

 

I think any of the classic car insurers mentioned will be a better idea over regular auto insurance because just about any of them allow you to state the car's value. I don't think State Farm, Allstate, etc. is going to let you do that.

However, I doubt any of the classic car insurers will insure the car if its being used as a daily driver. I'm with Hagerty. If I decided to drive mine to work one Friday and have an accident, they'd squawk about paying.

If yours is a weekend cruiser, go with a classic car insurer. If its a daily driver, stick with what you have. Just make sure they know what it's worth.