Classic Car Insurance

[newman27]

I did a search for this and couldn't find anything, so here goes my question:

Does anyone have experience they can relate with respect to obtaining an "Agreed Value" insurance policy on their Opel GT? Specifically, I have obtained quotes from Hagerty, Classic Auto Insurance, and American Collectors Insurance. I was wondering if anyone is insured with any of these companies and, if so, can you relate any claims experience?

Thanks!

Matt

[namba209]

I'd be extremely interested in that as well, Willit? is gonna be due shorly, again. I'd like to have some expertise to figure out the time and bucks I've invested on this project in order to be able to get recompense if the unthinkable does happen.

[baronbors]

I use American and am VERY satisfied with them and their service. Only have had one claim and after sending a photo was paid immediatly. An insured value was the basis that control the premium.

[bendele]

In another thread, someone posted about using Grundy. They always seem to advertise on "My Classic Car". I was thinking of checking them out as my car currently only has liability.

I like the "agreed value" approach to insuring these older cars. I very much dislike the idea of an appraiser touching my car. These guys seldom know what they're doing. I'm pretty convinced a big portion of their job is to low ball you on the value to save the insurance company money.

Chris

[jmbinjax]

I use State Farm classic car insurance. It carries a minimum deductible of $50for Comp and $250 for Collision. It also provides emergency road service. I have an agreed value of $7,000 and my premium is $88.72 for six months. I almost went with Haggerty which was a little less expensive but I wanted to use my local agent. Most agents probably don't know their company has classic car or antique car insurance and you have to make them get some answers for you - imagine that forcing someone to do their job! Anyway, at the time of renewals you're suppose to be able to up the agreed value with State Farm. I have not done this yet. Also, it was very easy with State Farm. I just had to provide photos. Some of the others require inspections and/or appraisals. Also, most of them have a mileage limit per year. I think with State Farm it is 2K.

[Phoenix]

Collectors insurance is the way to go. "Stated Value" is not the same as "Agreed Value" and SV just plain scares me when it comes to all the money that I'm investing in a "low dollar vintage car market".

AV vs SV

[saxybiker]

We have all our Opels insured for AGREED value with Condon and Skelly. They have three classes for Specialty cars 1) original/antique 2) modified and 3) street rod type. The cost per year seems to go up as the categories change. There is an anual mileage limit of 2,500 per year and it is pretty strict. If you know you are going to be driving an extra long distance to a car show and you ask AHEAD, you can get an extension of mileage.

So far, all we have had to do is send them our request for a certain Agreed Value along with pictures and a written application. They have not yet asked for an estimate. However, on the streetrod, we are currently underinsured.... they have a program that will insure an incomplete car that will be finished within a year for the amount of receipts submitted (labor cannot be included). When we go to up the Agreed Value upon completion of the streetrod, I expect they will ask for an estimate.

Another nice feature of Condon and Skelly, for those of us who store our cars during the winter, is they allow you to "suspend" your collision coverage during the storage months. You do have to plan ahead and let them know a couple of weeks before you plan to take them out of storage to drive.

The rates, especially for the stock/antique categoaries are very reasonable and they have a multi-car discount.

Grundy, Haggarty, and Condon & Skelly are all brokers. If possible develop a good relationship with a local insurance agent..... they should be able to get you the insurance from any of the above listed brokers. Then, you will be dealing with your own agent, who knows you and your cars. Your local agent generally will "go to bat" for you, if necessary.
HTH

Vickie

[Mike Trout]

Hagerty Car insurance The Best calssic car insurance you can buy they are really fantastic they have great roadside assitance and fast friendly service thats where my opel was taken care of and will be again.

[Gumby]

What kind of requirements do they have?

Sadly USAA doesn't insure classic vehicles so I have to look else where for my insurance needs.

[raisinracer]

Hagerty has worked good for me. Just need some good pics and fill out the form.They are also owned by allstate.If they insure my tube chassis streetrod with no problems,they'll problay insure anything.

[dcm013]

I use Hagerty here in MI for my 2 Opels. I can't speak for their claims service because I've never had a claim. Their price is very good and they only charge one premium for liability no matter how many cars you insure. Additional cars only carry a very minor cost for the collision and comprehensive, there are no deductibles, and you're covered up to the agreed value ($5000 min). Plus they don't have a mileage limit but do insist that you prove you have another car for daily use and you're not supposed to use your classic for anything but pleasure use.
Don

[newman27]

Thanks all for the great info!

The one issue I may have is that I do plan to use my car as a "daily driver" upon its return. However, my annual mileage will be low. I estimate I will drive it to work four times a week, 48 weeks per year, at 15 miles round trip. That's only 2,880 miles. Throw in some weekend errands and a small day trip a few times each year and I'm certain to be under 5,000 miles per year. So, I may have a special case to consider: low mileage, daily driver, needing agreed value insurance due to restoration (just in case the unthinkable happens ).

My other cars are insured with Progressive.com and they were great in that they provided the name, web site, and toll free number of the three insurers I listed in my initial post. Maybe I will find a local agent when the time comes as Vickie suggested. The problem is, I've never had an insurance agent. Before Progressive.com, I was with GEICO - same story - no agent...

Matt

[Opelupogus]

Hagerty seems great if you have a bunch of cars that don't get driven much. When I applied with Hagerty the max liability offered was $25/$50k but with $0 deductible. State Farm was actually $30 less per year with $100k/$300k liability but with a $500 deductible.

I went with State Farm, but if I happen to get second "classic" car I might have to reconsider.

[greenopelgt]

Ms. Opel is covered by a State Farm policy. I have taken my Insurance Agent to lunch, gone to special events together and give him ballgame tickets from time to time. I have even taken him to a local car show so he could hear the comments and experience the interaction. Yes, we actually drove Ms. Opel to the car show. In my opinion, my Insurance Agent is second only to my personal physician, in term of those who work for me.

Tom Adkins
1969 Opel GT
1.1 Liter

[Gumby]

Wow that sucks... I don't qualify for Hagerty's insurance

I'll be looking for another options. Any suggestions that are highly rated by you guys?

[slartybarfast]

I tried for Hagerty earlier this year but did not qualify due to the fact there are only two cars in our household the opel and our drive around car. after calling all the other classic car insurance company's, I strongly suspect they all use the same underwriter. I would hate to say it but you are probably SOL.

[newman27]

Originally Posted by greenopelgt Ms. Opel is covered by a State Farm policy. I have taken my Insurance Agent to lunch, gone to special events together and give him ballgame tickets from time to time. I have even taken him to a local car show so he could hear the comments and experience the interaction. Yes, we actually drove Ms. Opel to the car show. In my opinion, my Insurance Agent is second only to my personal physician, in term of those who work for me. Tom Adkins 1969 Opel GT 1.1 Liter

Wow - I've never heard anyone this impressed by their insurance agent. I have several months to figure this out but I like to start early on stuff. My current policy is up for renewal in June. I think I'll start with a State Farm agent and see if I can get all three cars on the same policy with the Opel GT being at Agreed Value. The agent is going to have to be pretty impressive before I buy him Braves tickets though...

[opelenvy]

I use Grundy. But CANNOT be a dialy driver. No help there. No limited mileage.

[MantAscona]

I have insured all of my past and present collectible cars with Grundy for 19 years now. They have agreed value and no milage limitations. They also allow you to drive the car anytime and anywhere you like without restricting you to "parade and show use only". I've never had a single complaint about them even after having two claims.

Duane

[cherokee]

My street GT as well as the Race GT is covered by State Farm, as well as te Triumph. Agreed value. They came out and took some pics and that was it. No big deal. In the summer I will drive them on nice days, and to work every now and then. I was suprised that they would cover the race car.

[newman27]

Originally Posted by MantAscona I have insured all of my past and present collectible cars with Grundy for 19 years now. They have agreed value and no milage limitations. They also allow you to drive the car anytime and anywhere you like without restricting you to "parade and show use only". I've never had a single complaint about them even after having two claims. Duane

That's a huge plus! Can you expand on how the Agreed Value was arrived at? Do you get to just pick a number and they adjust the premium accordingly or are there market factors involved?

Thanks!

Matt