This is topic Collector car insurance? in forum General Talk at Northern California Ford Owners .
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Posted by EPIK (Member # 7481) on
:
Anyone here have collector car insurance on their stangs? I have heard that it can be A LOT cheaper than regular insurance, & since my insurance has went up quite a bit for a minor violation I had last year, I am weighing my options....
Posted by SSSSIKH (Member # 8397) on
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might have to consider that...
..what is considered a collector car??
Posted by EPIK (Member # 7481) on
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quote:
Originally posted by SSSSIKH:
might have to consider that...
..what is considered a collector car??
I dunno, but I am thinking about looking into it for my stangs...
My insurance was $1,500 a year for 3 cars, & now it went up to $2,600 ![[Eek!]](eek.gif)
!!!!!!!!!!!
The sad thing is, I have a clean driving record, no speeding tickets, no exhibition of speed tickets, no speed contest tickets, no accidents, no DUI's, but I got a misdemeanor moving violation last year, & they are treating it like its a DWI!!!!!
[ October 03, 2009, 01:48 PM: Message edited by: EPIK ]
Posted by Wolfie351 (Member # 651) on
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There are varying levels, but all will have limitations on driving. You will have a yearly mileage limit. You can't use the car to go to work or school. Generally, the more freedom the insurance gives you, the higher your rate will be. It's not like they check your mileage every year, but if you DO get into an accident, they will use any excuse to deny your claim.
I got some quotes several years ago and most of the companies also required me to insure my daily driver with them along with the collector car. When all was said and done, it was only going to save a couple hundred a year, wasn't worth it for me. But, with what you're paying now, the difference might be greater.
Posted by EPIK (Member # 7481) on
:
quote:
Originally posted by Wolfie351:
There are varying levels, but all will have limitations on driving. You will have a yearly mileage limit. You can't use the car to go to work or school. Generally, the more freedom the insurance gives you, the higher your rate will be. It's not like they check your mileage every year, but if you DO get into an accident, they will use any excuse to deny your claim.
I got some quotes several years ago and most of the companies also required me to insure my daily driver with them along with the collector car. When all was said and done, it was only going to save a couple hundred a year, wasn't worth it for me. But, with what you're paying now, the difference might be greater.
Thanks for the info. I am not sure what the price difference will be, but I know with what my current insurance is trying to make me pay starting on october 17th, I am looking into better options. $2,600 a year for a 31 year old with a clean record besides a misdemeanor possession charge is just ridiculous!!!!
[ October 03, 2009, 02:35 PM: Message edited by: EPIK ]
Posted by ArmyStang (Member # 5141) on
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Dustin, you tried looking into dropping the insurance coverage for the 2 stangs down to a weekend fun vehicle? You'd have to confirm with limited mileage and such, but it would be cheaper and worth it since you have a DD
Posted by EPIK (Member # 7481) on
:
quote:
Originally posted by ArmyStang:
Dustin, you tried looking into dropping the insurance coverage for the 2 stangs down to a weekend fun vehicle? You'd have to confirm with limited mileage and such, but it would be cheaper and worth it since you have a DD
Yup, they are already down to the lowest possible mileage & they are both classified as "pleasure" use.... Insurance sucks!!!!
I usually don't air out my personal business on here, but Im pissed so Im gonna vent.....About a year ago, I got a misdemeanor moving violation for possession of Marijuana. I wasn't intoxicated at the time, so it didn't count as a DWI. Anyway, it sucked, but I figured it was no big deal other than a court appearance & a fine. Well, now i get my insuarnce renewal & come to find out that insurance companies classify it the same as having a DUI/DWI!!!!!! Insurance went from $1,500 a year to $2,600 with my current company which is Allied!!! I even shopped around & Gieco wanted $4,000 a year!!!!!!
How could this be considered the same as a DUI???? Not even close!!!! I quit smoking a year ago, & haven't touched it since, but now I'm paying the price & will be for a quite a few years!!!!
[ October 03, 2009, 04:14 PM: Message edited by: EPIK ]
Posted by 68gtscode (Member # 8679) on
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Depending on how you use your car, classic car insurance can be a great option. I have had it on my 68, and my brother has had this on his cars too. Anyhow, you will have to agree not to drive the car to work, leave it at the mall, etc. You have to limit the miles you drive it, but there are probably different mileage options depending on what company you go with. You will also have to send them pictures of the car (all sides), etc.
I had an agreed value policy on my 68 for $40K, and it was super cheap. I don't remeber exactly, but it was only around $150 per year. Considering I hardly ever drove the car, it was perfect and very cheap.
[ October 03, 2009, 03:26 PM: Message edited by: 68gtscode ]
Posted by EPIK (Member # 7481) on
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quote:
Originally posted by 68gtscode:
Depending on how you use your car, classic car insurance can be a great option. I have had it on my 68, and my brother has had this on his cars too. Anyhow, you will have to agree not to drive the car to work, leave it at the mall, etc. You have to limit the miles you drive it, but there are probably different mileage options depending on what company you go with. You will also have to send them pictures of the car (all sides), etc.
I had an agreed value policy on my 68 for $40K, and it was super cheap. I don't remeber exactly, but it was only around $150 per year. Considering I hardly ever drove the car, it was perfect and very cheap.
That sounds great... I only drive the stangs on the weekends, & I don't put many miles on them, & we all know I can take pics of my cars from all angles LOL...what are some of the companies to look into?
[ October 03, 2009, 03:34 PM: Message edited by: EPIK ]
Posted by 68gtscode (Member # 8679) on
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I used American Collectors Insurance, but I know there are a number of them out there.
http://www.americancollectors.com
Posted by essasin (Member # 4741) on
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I spoke to my agent and she insured 3 of my cars cars on a collector car type policy. It does have a few stipulations.
1. One car must be be fully insured and designated as my daily driver by them.
2. No more than 5k per year on the collector car
3. Can only be driven to and from shows, cruises, speed shop for car work, and recreational driving only.
4. Cars must be garaged in home or a remote secured car facility when not driven or participating in car shows/meets.
5. Only insured in the state of California unless shows/meet outside the State of CA then the show be reported and car must be transported with a trailer.
All modifications are covered but must provide pictures and paperwork of everything. I pay around 355 yearly for the 3 cars not including my daily.
[ October 03, 2009, 04:18 PM: Message edited by: essasin ]
Posted by 95628stang (Member # 8478) on
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I use http://www.hagerty.com/index.aspx for my two older (1966 and 1970) mustangs. About $400.00 a year per car with stated value of 25k per vehicle. Never made a claim so not sure how well they take care of their customers.
Posted by venomous99 (Member # 1917) on
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ive been using grundy for the past 3 years on several stangs. i pay around $300 for my 97 based on 15k value and full coverage(300/500k). zero deductable, no mileage limits.
requirements: you cant drive the car to do errands or to work, need to have a daily driver, car has to be parked indoors.
[ October 03, 2009, 11:26 PM: Message edited by: venomous99 ]
Posted by EPIK (Member # 7481) on
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Thanks for all replys. Venomous, I checked out Grundy & it looks very promising. I did a free quote on my 2 stangs @ a much higher value than they are worth & it was a bout $500 a year. That is not considering the moving violation I have, but even with that being considered, it would still be cheaper than a regular policy....
Posted by venomous99 (Member # 1917) on
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quote:
Originally posted by EPIK:
Thanks for all replys. Venomous, I checked out Grundy & it looks very promising. I did a free quote on my 2 stangs @ a much higher value than they are worth & it was a bout $500 a year. That is not considering the moving violation I have, but even with that being considered, it would still be cheaper than a regular policy....
yeah seriously and it works perfect if u dont rely on ur stang as a daily driver. mine stays in the garage most of the time so the restrictions dont affect me much. when i first joined they had more strict requirements like insuring 2 collector cars and showing proof of a daily driver including declaration of other ppl in ur household w/ licenses having their own daily drivers.
however, on renewals theyre not as strict and do not require u to have 2 collector cars insured..i think ur covered anyways w/ the 2 stangs u have.
Posted by EPIK (Member # 7481) on
:
quote:
Originally posted by venomous99:
quote:
Originally posted by EPIK:
Thanks for all replys. Venomous, I checked out Grundy & it looks very promising. I did a free quote on my 2 stangs @ a much higher value than they are worth & it was a bout $500 a year. That is not considering the moving violation I have, but even with that being considered, it would still be cheaper than a regular policy....
yeah seriously and it works perfect if u dont rely on ur stang as a daily driver. mine stays in the garage most of the time so the restrictions dont affect me much. when i first joined they had more strict requirements like insuring 2 collector cars and showing proof of a daily driver including declaration of other ppl in ur household w/ licenses having their own daily drivers.
however, on renewals theyre not as strict and do not require u to have 2 collector cars insured..i think ur covered anyways w/ the 2 stangs u have.
I'm gonna give them a call monday. I think it will work out good, just gotta figure out how much my cars are worth. I seriously only drive the stangs a total of maybe 8 days a month & thats split up between the 2.
Thanks for the help
![[patriot]](graemlins/patriot.gif)
Posted by 166 Merlot (Member # 1549) on
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1800 per year for 3 classics, total worth of a 160k. 3-5k miles per year per car etc.
Posted by EPIK (Member # 7481) on
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So I found a great deal with Grundy collector insurance. $469 per year for full coverage on both the stangs, both valued at whatever value I set them at.
Now I have to figure out what my cars are worth. I know the mach is valued @ $14,000 through Nada, & I have over $11k invested in full MM suspension & other mods. it has 54k miles on the clock. What would you guys think they should be valued at???
As far as the fox, I dunno what its worth, but its a clean title notch super clean in & out, with Edelbrock HCI, 5 lug, & full exhaust...
[ October 05, 2009, 08:00 PM: Message edited by: EPIK ]
Posted by jordan_0806 (Member # 5888) on
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quote:
Originally posted by EPIK:
So I found a great deal with Grundy collector insurance. $469 per year for full coverage on both the stangs, both valued at whatever value I set them at.
Now I have to figure out what my cars are worth. I know the mach is valued @ $14,000 through Nada, & I have over $11k invested in full MM suspension & other mods. it has 54k miles on the clock. What would you guys think they should be valued at???
As far as the fox, I dunno what its worth, but its a clean title notch super clean in & out, with Edelbrock HCI, 5 lug, & full exhaust...
Unfortunately for the Mach, it's not going to be worth much more because of the values of them right now; prob around $15-$16lK
the notch I would try and value it at $7K
Posted by EPIK (Member # 7481) on
:
quote:
Originally posted by jordan_0806:
quote:
Originally posted by EPIK:
So I found a great deal with Grundy collector insurance. $469 per year for full coverage on both the stangs, both valued at whatever value I set them at.
Now I have to figure out what my cars are worth. I know the mach is valued @ $14,000 through Nada, & I have over $11k invested in full MM suspension & other mods. it has 54k miles on the clock. What would you guys think they should be valued at???
As far as the fox, I dunno what its worth, but its a clean title notch super clean in & out, with Edelbrock HCI, 5 lug, & full exhaust...
Unfortunately for the Mach, it's not going to be worth much more because of the values of them right now; prob around $15-$16lK
the notch I would try and value it at $7K
Yeah, Mach's aren't worth sh#t right now, thus the reason I wouldn't even think about trying to sell it. As far as the notch, I would never sell it, but if i did, I definitely would want more than $7k.
[ October 05, 2009, 09:07 PM: Message edited by: EPIK ]
Posted by jordan_0806 (Member # 5888) on
:
quote:
Originally posted by EPIK:
quote:
Originally posted by jordan_0806:
quote:
Originally posted by EPIK:
So I found a great deal with Grundy collector insurance. $469 per year for full coverage on both the stangs, both valued at whatever value I set them at.
Now I have to figure out what my cars are worth. I know the mach is valued @ $14,000 through Nada, & I have over $11k invested in full MM suspension & other mods. it has 54k miles on the clock. What would you guys think they should be valued at???
As far as the fox, I dunno what its worth, but its a clean title notch super clean in & out, with Edelbrock HCI, 5 lug, & full exhaust...
Unfortunately for the Mach, it's not going to be worth much more because of the values of them right now; prob around $15-$16lK
the notch I would try and value it at $7K
Yeah, Mach's aren't worth sh#t right now. A far as the notch, I would never sell it, but if i did, I definitely would want more than $7k.
the market for your notch wouldn't be worth more than that though...just think for second, you've got the least desirable interior choice (no matter how clean it is and we all now it is is super clean)...stock trans, stock shortblock, etc.. etc....plus you're missing the a/c system (yes, we know you have it in your garage lol) but all of those come into factors...
what you think your fox is worth and what it will sell for are 2 different things....
we all have gone through it...
What do you think it is worth? by your reaction I'm guessing $9,000...$10,000??? look on corral and you'll see what $7K to $8K can get you...
if you had a stroker, built, full suspension fox....then you could easily bring the number up....
but then again; I've seen stock coupes with MM suspension and BBK wheels go for $12k..so anything is possible....but it also didn't have bow-chica-bow-wow red interior either...
Posted by 2TONE (Member # 4216) on
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Does the value of the car matter on how much the insurance rate is going to be?...I mean let's go on a limb say for example u own a real classic car like a 69 charger daytona which is worth from 100k-600k and u never drive it would you have to pay like 1000 a month??this is just an example..not for real by anymeans..just wishing...you could even say a gt500 worth 300k and never drive it..would the value jack your rate up???
[ October 06, 2009, 12:28 AM: Message edited by: 2TONE ]
Posted by 2TONE (Member # 4216) on
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Or would that have to be like house insurance or something?...I bet theyd have to fly an appraiser out to u
Posted by EPIK (Member # 7481) on
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quote:
Originally posted by 2TONE:
Does the value of the car matter on how much the insurance rate is going to be?...I mean let's say for example u own a real classic car like a 69 charger daytona which is worth from 100k-600k and u never dive it would you have to pay like 1000 a month??this is just an example..not for real by anymeans..just wishing...you could even say a gt500 worth 300k and never drive it..would the value jack your rate up???
Im pretty sure if I had a car that was worth $100k, the policy would be more... The annual price I posted up of $469 a year, I went above what I thought the car's are worth. I told them the Mach was worth $20k, & the notch was worth $10k. Selling the cars on the street, I would never get anything close to that, but I have much more into the cars, so if an accident occurred, I would get a fair amount....
[ October 06, 2009, 12:29 AM: Message edited by: EPIK ]
Posted by 166 Merlot (Member # 1549) on
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A GT500 won't be driven daily so insurance won't be costly. The risk of something happening to it is low if it's not out often. This and along with the reason that it would have to be garaged at all times for it to be considered for a classic car insurance policy. It sucks in a way, but realistically how often you want to drive a hot ass car around that is a 1 of 1?
Posted by Bigjerry916 (Member # 8787) on
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Don't you gotta have a good driving record to qualify for the collectors insurance? I tired to get hagerty for my ol skoo back in the day but I got rejected because of my dui.
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