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Insurance [again] collector cars?

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RickB

RickB

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I called my State Farm agent and was told the following:

You can only insure it as a collector car if it is completely original, all parts on the car are original to the car and it's in very good condition. This is insurance for show cars only.

This is not what their website says, but it's what the agent says. Does anyone know anything different about State Farm?
Did I ask the wrong question?

My most recent acquisition is registered with permanent registration as a collector car. My state requires only that it be 30 years old or more.

I guess I'm looking for a company that will insure my old cars, let me drive them for pleasure use and not have a locked vault to store them in. Does a company like this exist?
 
I'm insured with Hagerty and am quite pleased. They have a website which is https://www.hagerty.com. The website is a wealth of information. Good Luck in your choice.
 
I am a Farmers Insurance agent. Farmers will insure it as a declared value collector vehicle. Hagerty, American Collectors and J.C.Taylor are also good options. I handle all of those. Sounds like your agent does not want to insure it. As an agent, there is not much money to be made on a collector policy. I do it because I like the cars and want to see them properly insured.
Bruce
 
Hagerty, Leland West, and Grundy are probably three of the more well-known collector car insurors. I have had Hagerty for several yrs. and been well satisfied with them, although I have not had to file a claim.
All insurance companies are very cooperative when they are taking your money, but getting some of it back on a claim is where the rubber really meets the road. I can't comment on Hagerty's level of cooperation under those circumstances.
Google "collector car insurance" and you will find a bunch of options, including the three mentioned.

State Farm's offerings in the collector car arena seem to depend heavily on the individual agent. I have friends that claim to have inexpensive, very non-restrictive collector car insurance through State Farm. A few yrs. ago, before I went with Hagerty, my State Farm agent at the time swore up and down S.F. didn't offer collector car insurance of any type.
Go figure.
 
Doesn't Hagerty require the vehicles be stored in a locked garage?
 
RickB said:
Doesn't Hagerty require the vehicles be stored in a locked garage?
Click to expand...

Seems to me the "stated value" policy I have on my '64 B does require that. I also had to report the mileage on the car every year, but the last year or so I think they stopped requiring that.
 
bcliff, there's a Farmers insurance agent local to me. I suppose I will pay them a visit.
Of course we have our 2003 minivan insured with State Farm and they are currently charging me about $130 / month extra for basic liability plus a little pip & underinsured on two of my MG's.

SF also has the insurance on my home.

It seems it would be in their best interest to provide me with the product I'm asking for rather than send me literally down the street to a competitor. I've had my insurance with this agent for nearly 20 years. Suppose it's time I shopped it all around town a bit.
 
After shopping around, I found Grundy Worldwide to have the best pricing for my cars and a policy which best matches my type of use. Since I drive my MGs a LOT, loose restrictions and unlimited mileage were mandatory. Haggerty would have been my second choice but Grundy came in cheaper for the same type of coverage. The restrictions are:

- Must be stored in a locked garage
- You must have another primary vehicle
- Cannot be used for business or daily commuting ("Pleasure driving" only)

The perks are:

- Agreed value compensation (to me this is mandatory)
- Unlimited mileage
- Full insurance coverage (comp, collision, theft, fire, etc)
- Windscreen coverage

I had the unfortunate opportunity to test Grundy's claim system recently. To say I'm pleased is a serious understatement. Never have I dealt with such a professional and helpful insurance company! I called in my claim on Monday morning, speaking with a very friendly Grundy agent. By late morning a national adjuster called to take some information. By late afternoon a local adjuster called me to arrange an inspection for the next morning, at a shop of my choice.

By the next morning, only 24-hours after my call, the car had been inspected and an estimate written by a shop of my choice, with no hassle whatsoever. The following week a rather large check for repairs was in my mailbox. I'm a customer for life after that experience. /bcforum/images/%%GRAEMLIN_URL%%/smile.gif

https://www.grundy.com/
 
I've had haggerty for about 10 years, Never had to use it but they have been very helpfull and very inexpensive.
 
I used my Hagerty coverage for a tow when I broke down on that famous Route 66. I was so frustrated that when I called 1-800-hagerty for a tow I neglected to tell them that Agatha had to be towed on a flat bed and that she needed extenders to access the flat bed as her ground clearance is only about 4". Not only did they send the correct towing vehicle, he had the necessary extenders. Lucky for Agatha and me.

As to a claim, i.e. accident, so far so good, none made.

I have never had to claim my yearly mileage which varies depending on the weather. As to being garaged, one vehicle is and one vehicle isn't and again this garage necessity was not made known to me as a requirement.

The only requirement made was that for each collector insured, we had to show that we had a 'normal' vehicle to substantiate that neither collector car was a daily driver. While this didn't make a lot sense to me, we do have 2 daily drivers.

I am sure you will have no further problem getting insurance.

Happy /bcforum/images/%%GRAEMLIN_URL%%/driving.gif
 
Thanks, this is all very helpful information.
 
Rick,

My two cents... mine is with AAA on a different policy than my other cars. It cost less than two hundred a year and is an agreed value policy with basic liability...

Works for me. /bcforum/images/%%GRAEMLIN_URL%%/smile.gif
 
The main problem with Hagerty or Grundy's seems to be if you get clobbered on those nice mornings when you just HAVE to drive the B to work. Wouldn't that be a kick in the arse?

R.
 
Ah. Life is good again. /bcforum/images/%%GRAEMLIN_URL%%/wink.gif
 
Rick_Stevens said:
The main problem with Hagerty or Grundy's seems to be if you get clobbered on those nice mornings when you just HAVE to drive the B to work.
Click to expand...

Rick, I asked the Hagerty rep about that when I got my policy. She said that the occasional drive to work or to the store was not an issue -- their definition of "pleasure use" is intentional vague to let this sort of use slide by.
 
Hagerty!
happy0034-1.gif
 
drooartz said:
I asked the Hagerty rep about that when I got my policy. She said that the occasional drive to work or to the store was not an issue -- their definition of "pleasure use" is intentional vague to let this sort of use slide by.
Click to expand...
That's basically what Grundy told me. Basically. /bcforum/images/%%GRAEMLIN_URL%%/whistle.gif
 
I asked my State Farm agent of 42 years this very question last week. His reply was we would get in touch with a local appraiser who specializes in classic cars, have my car appraised, then he would write my policy around the "expert's" appraised value. He said he does this on a regular basis, for both American and British classics.
 
Seems like a bunch of BS to me. Having been in touch with Haggerty and Grundy this week State Farm is full of "it".
I can't wait to dump them now.
 
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