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Another question re insurance

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jaybird

jaybird

Yoda
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Okay, you'll find out I talk a lot and ask a lot of questions.

We're picking up our MGB this afternoon. How do most of you 'insure' your cars? I talked to our agent, and we can insure the car, full coverage, NO deductible, for $100 even a year. I don't need to put 'antique' plates on the car to get this coverage. Only stipulation is that the vehicle is not used as a 'back up' car and there's a mileage limitation of 1000 miles per year (that they don't enforce strictly) I know I'll put more miles on the B than that, I intend to drive that much by Sunday evening!!!

Here in IL, antique plates carry some restrictions. You only have to renew the plates every 4 years, but you can only drive the car to and from shows, on weekends and holidays & if you are taking it somewhere with the intention of showing it to sell. So if I do the antique plates, I suppose I keep a 'for sale' sign in the back?

Any input on the insurance or pros/cons on antique plates? Thanks! /ubbthreads/images/graemlins/driving.gif
 
You'll get a lot of different views on insurance. I have collector's insurance that is similar to what you've already said and has full coverage based on my declared value; it's designed to cover the vehicle for club events, shows, parades, etc (the big exclusion is using it for business, commuting to work or school, shopping, etc), with a mileage cap that they like you to keep close to. I heard about another competing agency (don't remember the name) that now has dropped the mileage cap.

Do a websearch for collector-car insurance, there are several companies out there to research.
 
Grundy Worldwide is as aerog describes but with no mileage cap. I've used them for two years without problem. Haggerty is also a good company. I put a LOT of miles on my cars so Grundy has been great for me. All three cars only cost me a coulpe hundred dollars for full coverage, agreed value.
 
My TR7 is insured by the same company I have my other vehicles insured with, but under a "classic" rate. I have a 3000 mile mileage cap, it is only supposed to be driven to and from and during club events, or to and from repair shops (but what they don't know won't hurt them). I'm also supposed to keep it garaged. I looked into Hagerty, and they would have only been about $40 a year cheaper, so I decided to stay with my local agent.

As far as the vintage plates, with those kinds of restrictions, I think I'd stick with regular ones if I planned on driving the car alot. If you don't follow the restrictions from the insurance company, the worst they can do is refuse to pay a claim. If you don't follow the restrictions of the state, you could end up in court. To me that's not worth saving a few bucks.
 
i'm in IL and have antiques on my car, it's 90 bucks a year with i believe 1500 mile cap. i don't drive winters/rainy days so this is suitable for me, but hey - if you're in an MG you'll probably be fixxing it half hte time anyway, at least i was - i got stopped by cops and told'em i was on a drive to test out some work i just recently did and they said it was cool, that is ALWAYS true with these cars and the insurance company would allow that also. . . . . my vote is antique plates
 
I am in Wisconsin.....collectors plates are $140 one-time fee, no renewal or another emissions test after the initial one, and far fewer restrictions. Unlimited mileage and use for pleasure/recreation/domestic purposes, just can't drive January through February.
 
Any input on the insurance

This is an ongoing question that comes up often...many insurance companies put stipulations on Antique cars...some do not...I have a policy that covers me up to $100,000...no miles limit...I have to have a garage to park the car in...and I have a annual rate...under $200...you can search this question in the Healey forum...much has been written about this...with many contributing...for more info if you like...
 
I have Hagerty insurance on both my cars. Full coverage (agreed to value) is around $150 for both. Limitations include driving for pleasure (I haven't tested my argument that driving to and from work is a pleasure for me yet <grin>), to shows, parades, and the cars must be kept in a locked garage when not driven. I don't believe there is a mileage limitation.

The different stipulations imposed by different states for antique tags are interesting. Here in Arkansas, if the car is 25 years or older and (basically) unmodified, we pay a one time $25 fee and never have to mess with the DMV again.
 
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