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J

joeq

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does it cost signficantly more to insure a classic car than a, uh, non-classic car?
 
Incredibly less actually. Some restrictions. Many good insurance companies out there that specialize in these cars.
 
Try www.Hagerty.com No limited miles or need to be going to a sanctioned car gathering. I pay $185.00 a year for complete coverage on my BJ8. Farmers wanted $1100.00 for the same coverage. They only insure collector cars, planes and boats. They support our hobby.
 
Webb...sorry...it doesn't matter what you drive...whether your Lawn Mower...or a "classic" car...you're going to pay...it's an age thing...all kidding aside...generally "classic" cars are less expensive to insure...because they don't expect you to put the same miles on the car as a modern car...do the same frwy driving...drive as fast as the modern car...got the picture...
 
hagerty is awesome – $470 vs the $1500 i pay to insure my regular car. (stupid state farm).

thanks for the tip.
 
i keep running into dead ends on this insurance thing... hagerty won't do it because they require that EACH licensed driver in a household have their own primary car. i tried to explain to them that virtually no family in manhattan keeps two cars PLUS a classic car... but they were underwhelmed.

i called american classics and they told me that i was sh*t out of luck because the car won't be kept in it's own private vacuum-sealed vault. (ok, they really said that it can't be kept in a common garage... even if it's attended. again, the nations anti-nyc bias shows through again.)

short of blatantly lying, what's a guy gotta do to get insurance around here???
 
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i keep running into dead ends on this insurance thing... hagerty won't do it because they require that EACH licensed driver in a household have their own primary car.
i called american classics and they told me that it can't be kept in a common garage... even if it's attended. again, the nations anti-nyc bias shows through again.)
short of blatantly lying, what's a guy gotta do to get insurance around here???

[/ QUOTE ]
Yeah - you folks really have it tough. Everyone seems to be out to get NYC'ers. Everybody must hate you.

Actually if each driver doesn't have a car, they are likely to use the classic for transportation sometimes & it is more exposed to traffic & parking damage. If the car is not parked in a locked garage that only you have access to, it's more likely to get stolen. The rates for classics are low because the insurance company does not have to take these risks. But you already know this?

No good suggestions. Ask Herb Satzman how he does it.
D
 
I was not eligible for the specialized coverage such as the Hagerty insurance above either. So, I opted to add my GT6 to my current Allstate policy with comprehensive and collision coverage, same as my late-model cars.

Sadly, if I sustain a covered loss to the 34 year old GT6, I won't get very much, maybe $3,000 maximum. Allsnake will settle the claim at "actual cash value" (ACV), which in insurance jargon means a depreciated settlement.

I know this isn't much help for an expensive car like a Healy, but it's better than no physical damage coverage at all!

Call your Agent and discuss, maybe he/she can help. If not, maybe you could use a new Agent?
 
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How about a classic convertable for a newly licensed 16 year old, like I will be next summer?

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Most require you to be 25, have another car (a "driver") and a garage at minimun. Sorry /ubbthreads/images/graemlins/frown.gif
 
i realize why they do it... just can't say i agree with it entirely. i think they could have regulations that take into consideration the realities of living in cities vs. suburbs, that's all.


[ QUOTE ]
[ QUOTE ]
i keep running into dead ends on this insurance thing... hagerty won't do it because they require that EACH licensed driver in a household have their own primary car.
i called american classics and they told me that it can't be kept in a common garage... even if it's attended. again, the nations anti-nyc bias shows through again.)
short of blatantly lying, what's a guy gotta do to get insurance around here???

[/ QUOTE ]
Yeah - you folks really have it tough. Everyone seems to be out to get NYC'ers. Everybody must hate you.

Actually if each driver doesn't have a car, they are likely to use the classic for transportation sometimes & it is more exposed to traffic & parking damage. If the car is not parked in a locked garage that only you have access to, it's more likely to get stolen. The rates for classics are low because the insurance company does not have to take these risks. But you already know this?

No good suggestions. Ask Herb Satzman how he does it.
D

[/ QUOTE ]
 
I have my Healey insured as a "regular" car, not a classic. There were too many restrictions on the classic category (max milage, etc.). Under regular coverage, they at first wanted to give me a depreciated value as well, but on a 45 year old car that does not amount to much. What we ended up agreeing upon was a fixed value. I had the car appraised, and that is the value the insurance premiums are based on, and what I will get paid if there is a total loss. My premiums run about $650 a year, but since I only insure it 6 months a year, I end up paying $325, which I think is reasonable.

Maybe your insurance company will do that same.
 
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i realize why they do it... just can't say i agree with it entirely. i think they could have regulations that take into consideration the realities of living in cities vs. suburbs, that's all.


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I suspect that the realities of big city car ownership are that the cars are more likely to be damaged or stolen. At least the insurance companies seem to think so.

The numbers published by NY state for vehicle thefts in year 2001;
NYC - 5000 & over
Long Island - 1000 & over
NYC Suburbs - 100 & over
Upstate NY - 50 or less

I'm not denying that the insurance companies try to maximize profits & will use any excuse to gouge you. However the numbers do give them some justification.

BTW, NY is working on this problem, maybe they will get some changes made:
https://www.nyc.gov/html/rwg/html/96/insure.html
D
 
i guess the reality that i was talking about was that, in manhattan, most couples don't own car... let alone two... let alone two and a classic. and that even fewer people still have their own private garage... they just don't exist. people who live in the fanciest neighborhoods park in attended garages (and pay through the nose for the luxury – upwards of $800 a month or more.)

thankfully, i'm NOT in one of those neighborhoods!
 
/ubbthreads/images/graemlins/smile.gif
Well, once again the Forum has really been great for me! I contacted Hagerty's just now and they agree to insure my BJ8 for $30,000 at a premium of $250 annual. This is significantly less than my current policy that would provide only "actual vehicle value" which for a 1965 car isn't much. What I like best is that their mileage limitation is very minor for me and I can drive it to the local Sonic (50's style hamburger drive-in place) no problem. Thanks, guys!
 
Hagerty's claims service and policies are first-rate. I have had two broken windshields and they paid for parts and labor with no questions asked. They were also very willing to be major sponsors when we put on Conclave in DC last year.
 
There were too many restrictions on the classic category (max milage, etc.).

I have my Healey insured as a classic...I pay around $280 for the year...no limitation with regard to milage...no restrictions of any kind...my car is "almost" a daily driver...and that is based on an "agreed" value of $50,000...
 
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