Classic Car Insurance

[cshults]

Hi all-

Does anyone have their Beretta covered on a classic car policy? I've been looking into getting my '92 covered on a classic car policy for an agreed upon amount of around $4-5k, I don't drive it hardly at all, only on sunny summer days to the tune of about ~1000 miles a year but cannot find a company that will cover it as a classic. If you have yours covered on a classic policy, let me know who you're using.

Thanks!

[Asylum]

Where are you located?

Generally insurers look at 25 years as the threshold for Collector Car status.

You would then likely need an appraisal from a licensed adjuster.

If you were in Canada I could perhaps help you out, but in the USA Haggerty may have a look at a policy, but that would be stretching it.

[cshults]

Thanks forthe reply. I'm in Buffalo, NY. I've tried Haggerty and unfortunately, no dice.

[1988GTU]

Grundy might, but with those category specific insurances, they all come with tight limitations and any that dont, wouldn't be economically feasible imo. Read the fine print and dont rely on what is vocally conveyed.

[woody90gtz]

I'm looking at this too. Mine will be 25 next year...but I do use it as daily transportation all summer so a mileage limit would probably be a deal-breaker.

[1988GTU]

I'm looking at this too. Mine will be 25 next year...but I do use it as daily transportation all summer so a mileage limit would probably be a deal-breaker.

Mileage isn't the main stipulation in most these types of insurances. It's the purpose (destination) in which it going for/to. Parade, on a (Event, art, educational) display, etc etc.

You are likely going to need to trailer it over a certain amount of miles or pending "risk of area" if it's not within 'local' distance or route of safe environment per insurance contract.

[woody90gtz]

I'm sure there are tons of people on Power Tour with classic insurance. I'll have to call around and see what would be the best fit. The best fit might still be Esurance where I have it now. haha

[Asylum]

There are options here in Canada, so there must be in the US as well, that will give you an "agreed value replacement" policy however you will need a appraisal from a certified or licenced appraiser.

And it won't be cheap, although good insurance is seldom the cheapest.

[cshults]

I checked into Grundy and so far it seems promising. I was quoted $96/yr with the info I put in online.

They don't terribly limit the use of the vehicle, they just state that it shouldn't be used frequently for daily use like running errends, driving to work, etc. But they don't say it can never be used for those purposes.

I'm going to call tomorrow and confirm everything and if all holds true, I'm signing up.

[Asylum]

Just make ABSOLUTELY SURE it's an agreed value replacement policy.

Are they requesting an appraisal?

[1988GTU]

A Grundy rep should contact you (IF they haven't already) and ask for your appraiser's contact info to retrieve assessment information further needed data. If not, you will need to do so.

[3X00-Modified]

I can set a Agreed Value replacement on my current insurance if I want to but that obviously will up my premium... I haven't done that yet and I'm not sure when I will... Probably should with the fact that I do drive it to every bfest and there are too may interested in their phones more than the road.

[ifixalot]

Way back before my turbo Buicks were 25 years old. I was able to buy collector car insurance.
I think it was agreed value through one of those companies like Progressive. I was not able to drive
the car outside the months of April though November and I was not allowed to leave it parked in a public
parking lot and it had to be garaged at night. This insurance was very low cost.
Later when switched to Farmers Insurance so I could get an umbrella policy, I had agreed value collector car
insurance and it was cheaper than regular but no bargain. I would cancel the liability and collision in the winter months
when I didn't drive the cars. But I was allowed to drive wherever and park where I wanted when I was driving them.
Farmers was for me, very expensive insurance. I saved about $1400 over all switching to State Farm.
With State Farm, the cars were 25 years old and have classic license plates. (approximately $35 for five years)
State Farm has insurance for cars licensed this way. I had to have the cars appraised.
And I still cancel the liability portion for the winter months, so that saves some dough.

[cshults]

No dice...Grundy declined the application stating the car did not have "collector status"..

[Asylum]

I would suggest you call an Insurance Broker. The bigger the firm the better, and explain what you would like to accomplish.

They deal with dozens of insurance underwriters and can likely find you someone who will accept a policy on your car, on your terms.

Be very specific, although not unreasonable, about what you are looking for, provide a valid, recent appraisal of the vehicle and go from there.

Over $5k is unlikely unless it is spectacular, and under that they really have a hard time justifying the policy.

Damn near anything that will pass inspection is worth that nowadays.

Catch 22, but we have Berettas!

They are looking for "Classics" worth, and appraised, for Thousands for these specialty policies.

If nothing else insist on "Agreed Value" for the car. It may cost you, but you can sleep at night.

Cheers