Daily Driver Classic Insurance

[special-K]

As far as tales of this company or that screwing people over goes, it's all of them. I've had good experience with Progressive and been screwed by State Farm. Give them the right circumstance and you'll find out. I got hit by a guy with USAA and they found a whole new way to screw me out of anything. I'll tell the story if people want to hear it, but I hear people praise them all the time. I know different. It has to do with me driving my older vehicle I keep regular insurance on to daily drive, and because it's old they only give me liability. To me, that is the issue. There should be a way to fully insure an older vehicle for regular use. I don't expect it to be as cheap as classic. Heck, I pay 4x as much for liability on that one than I do for classic full coverage with towing and even spare parts and tools insured. Same with my Harley, cheap great coverage. Daily driver insurance costs more, ok, I understand. But give me a chance to decide if I'm willing to pay the cost for full use full coverage on my older vehicle that "I choose" to drive. It's as if the insurance industry has the right to decide how old of a vehicle I drive. Oh sure, I can drive what I want... as long as I'm willing to go out on a limb and risk great loss. Been there done that and it sucks.

[MARKDTN]

I tried about 15 years ago and Farm Bureau would write a comprehensive policy for a DD classic car, but it was not going to be cheap. He said basically the same price as insuring a new one. He sent me to Condon and Skelley (MetLife). Never had a claim, but have heard good things.

[MDPotter]

I was able to get mine insured through USAA on the second try. The first time I tried, the rep recognized it as classic vehicle and steered me towards American Classic but they turned me down due to the usage. So I called USAA back prepared to ask them "what am I supposed to do?", but that rep didn't hesitate to add it to my policy. $30 for comprehensive and liability. As far as worrying about what happens if it's totaled, lost, or damaged, I'll worry about that if it comes to it.

I did call USAA back to ask them how they determine the amount of compensation I would receive if it was totaled, but they couldn't give me an answer since it was a hypothetical situation. What they did tell me is that it would be based on actual cash value. So if I ever have to deal with that, I will be doing some homework to prove the maximum value.

For the guys out there with trucks that were done at a shop with no expense spared, they must not be able to daily drive them because there's no way to prove that a $100k restoration is actually worth $100k. That or they are financially secure enough to not worry about it.

Like others, I built it to enjoy. I'm not a car show person and I want to be able to drive it to work, dinner, or run errands every now and then.

[ltdmstr]

A professional estimate is a good way to document true value. More than one is even better. Also, receipts and build details can help a lot if you end up in a hassle with the insurance co.

The other thing I was wondering about this is whether an umbrella policy will pay for damaged/totalled vehicle beyond what the auto policy pays. Going to have to look into that.

[Wobpb377]

I stand corrected from below. To be insured with Agreed Value the vehicle had to be insured as a classic.


It seems so far that State Farm might be the way to go for me for agreed value. I have not pulled the trigger yet but from my researching it one of the only companies to cover here in Hawaii with agreed value.

[Grumpy old man]

All you guys driving with basic low budget insurance need to consider how ineffective that type of coverage is not only for your truck but your own injuries from any accident . The insurance companies profit more from selling you junk insurance that is basically worthless rather than a policy that will actually pay out if you ever have to file a claim . I couldn't care less about the truck if I'm seriously injured and how fast will your basic low buck insurance last if your in a critical care situation ? Maybe 1 day ? Then they're coming after anything else you own including your house to get paid . The whole Insurance business is a scam and the least amount of coverage you buy the better off THEY are . My daily driver is over insured as far as personal injury protection/ Uninsured motorist coverage / under insured coverage and all it takes is having a decent agent to actually sit down and talk about whats really available if you ask the right questions and it's actually cheap cost wise to get real coverage for what may happen . Did you know it's only a couple bucks a month to have rental car coverage so you don't have to pay extra for it when you rent a car even to take on vacation ? Or that just by having triple A you don't have to pay the extra driver fee on a rental car ? Take the time to go and sit down with your agent and ask real life questions , it could save you real big headaches after any crash !

I wouldn't drive any classic without a agreed value / agreed appraisal value policy

Like they say " You wanna play ? You gotta pay " Your not driving a KIA !

[cebra]

Originally Posted by Grumpy old man

I wouldn't drive any classic without a agreed value / agreed appraisal value policy

I do not think this is possible on a daily driver classic vehicle. At least not through State Farm, Progressive, Grundy, or Hagerty. If you drive over X miles as far as I have been able to find you are stuck with "stated value" which is only good if someone hits you and you can prove your value. My recovery for a wreck on my side, stolen, or uninsured driver is $600 on my $35K truck.

[Grumpy old man]

Well... you can get daily driver insurance on a $35,000 truck thru American collectors insurance with $1,000 spare parts / 250,000/500,000/ pip / towing / uninsured motorist coverage/ etc / etc with 20,000 miles per year .

It's only going to cost you $2,316.15 per year. YMMV

Like I said " You want to play ,You got to pay "

Edit : Actually $200.00 a month isn't that bad considering what you get to drive and that amount of coverage.

[MDPotter]

Originally Posted by Grumpy old man

Well... you can get daily driver insurance on a $35,000 truck thru American collectors insurance with $1,000 spare parts / 250,000/500,000/ pip / towing / uninsured motorist coverage/ etc / etc with 20,000 miles per year .

It's only going to cost you $2,316.15 per year. YMMV

Like I said " You want to play ,You got to pay "

Edit : Actually $200.00 a month isn't that bad considering what you get to drive and that amount of coverage.

I went through American Collectors too and was initially approved through the website, but a few hours later got a call from a rep and they turned me down because I told them I'm not just driving it to shows or to "exercise the engine". The rep wouldn't say outright that I wouldn't covered if I got in a wreck on my way to work or running errands, but their hesitation was enough to tell me that they would screw me if it happened. Sure, you can lie to them and tell them you're only going to shows and exercising the engine, but what happens when you get in a wreck on your way to work and they find that out and give you nothing?

[cebra]

I just called American Classic has the same tri-fecta that keep me rolling the dice on insurance: mileage restrictions, personal garage requirement, and 2 car requirement.

To further my list of options to save folks time:
Grundy - the trifecta
Progressive Classic/Hagerty - the trifecta
American Classic - the trifecta
Progressive - stated value
State Farm - stated value
AAA - stated value

I will keep calling every insurer under the sun to confirm but thus far it is either stated value/run the risk or have a garage queen for classic insurers.

[Wobpb377]

Originally Posted by cebra

I just called American Classic has the same tri-fecta that keep me rolling the dice on insurance: mileage restrictions, personal garage requirement, and 2 car requirement.

To further my list of options to save folks time:
Grundy - the trifecta
Progressive Classic/Hagerty - the trifecta
American Classic - the trifecta
Progressive - stated value
State Farm - stated value
AAA - stated value

I will keep calling every insurer under the sun to confirm but thus far it is either stated value/run the risk or have a garage queen for classic insurers.

Double check with State a farm. I was told I could do agreed value but agreed value is only for antique/classic cars. Then lies the limited miles and not as a daily driver.

To make sure I’m clear. Stated and agreed are the same?

[cebra]

Stated value is only applicable if someone hits you, they have insurance, and you can prove your cars worth. If you hit someone, your car is stolen, or an uninsured driver hits you then you get book value (Progressive is $600 on my truck).

My understanding is that agreed value is for classic insurance where you say your car is worth $35K, if they inspect/agree it is insured as such. If you daily drive your classic you can't get classic insurance.

[Wobpb377]

Thanks. I asked State Farm what they would
Value the car at if I’m accident and they said they could
Not tell me unless a claim is actually filed. I wish they would use NADA values.

[Grumpy old man]

Take your truck and get a real appraisal done from a respectable appraiser in your area , Take that and your truck to whatever insurance company you want to use and get real #'s in person , Looking online or calling on the cell phone isn't going to get you real answers or quotes . To get the best coverage you have to follow their rules or not complain when your trucks stolen or wrapped around a tree and they pay you .10 on the dollar for it . They're taking all the risk that's what you pay them to do. But sometimes you just can't get what you want and bend the rules to get it . They're going to pull up your address and look for "your garage " They're going to do a credit check, You want to drive it 20,000 miles a year , That's a lot of potential exposure for them . I know you can get the insurance to daily drive from one of these companies .That's what they do is write polices to cover risk but to get what you want it's going to cost you $$$$$ .

A few years ago I bought some rural land to build on and wanted to take my loader to the property and leave it there for potentially months to use it clearing the site . I called on the phone and got turned down for theft/vandalism coverage on it , I loaded it on trailer took it to my state farm office and 45 minutes later I walked out with a policy that more than covered my concerns . Even in today's " internet world " face to face business is still the best way .

[Wobpb377]

I asked the question about appraisal. Once that happens it gets classified as a classic/antique car and those restrictions then apply.

In this day and age a lot is done through cell/email. It doesn’t matter what the agent says it’s ultimately what underwriting says. So taking it to your insurance agent won’t help out. You would need to take it to the underwriter and who says the underwriter is in there same location.

I was able to talk to Allstate. They use KBB for the price for the vehicle, close to what I linked earlier. If the truck matches how it was from new and good continued they will most like cover around average. I couldn’t get her to confirm they will but it’s a start. At least it’s not off original MSRP.

[Grumpy old man]

Originally Posted by Wobpb377

I asked the question about appraisal. Once that happens it gets classified as a classic/antique car and those restrictions then apply.

In this day and age a lot is done through cell/email. It doesn’t matter what the agent says it’s ultimately what underwriting says. So taking it to your insurance agent won’t help out. You would need to take it to the underwriter and who says the underwriter is in there same location.

I was able to talk to Allstate. They use KBB for the price for the vehicle, close to what I linked earlier. If the truck matches how it was from new and good continued they will most like cover around average. I couldn’t get her to confirm they will but it’s a start. At least it’s not off original MSRP.

Ah , Yeah , I guess we just live in different worlds. I hope you guys get what you need .

[Wobpb377]

Originally Posted by Grumpy old man

Ah , Yeah , I guess we just live in different worlds. I hope you guys get what you need .

Thank you.

I called Allstate. They can offer insurance. The will use the KBB pricing which is similar to the pricing I posted about above and not the MSRP. At first she mentioned the low end but after talking to her and mentioned it was refreshed the price can go to the middle of around 19000. This is not a guarantee though. I’m afraid they would use the low end though if needed. I might call a local office and ask them as well.

Keep the thoughts and advice coming.

[special-K]

No matter what type of auto insurance I've had, when I had a claim I had to fight them to get more. I always grab my vehicle from where it was towed ASAP, like within 24hrs and haul it to my body guy. That way the ball is in my court during negation, not stuck somewhere racking up a storage bill I'd have to pay to get it back if it was totalled

[57Suburb]

Originally Posted by diesel burner

My insurance is through State Farm on all of my vehicles. I ask my agent about putting a stated value policy on my daily driven 71 K20. I put it's value around $10,000 and he told me I would be screwing myself. He showed me the NADA book value of my pickup, which shows it between $12-15,000 for an average condition pickup. Could be as high as $35,000 for a excellent condition pickup. He convinced me that the book value on these pickups is continually going up and I have no worries about driving it. I pay $26 a month for full coverage.
I have personal experience with Progressive and I would rather go to the dentist or proctologist than deal with those thieves.
My daughter had a 99 Honda civic insured through State Farm, when she hit a deer and totaled it, they gave her more than kelly blue book valued the car at.

I have my oldies through State Farm too. Personally, I don't think anyone can touch them if you intend to daily drive your classic.

[Wobpb377]

Originally Posted by 57Suburb

I have my oldies through State Farm too. Personally, I don't think anyone can touch them if you intend to daily drive your classic.

Do you Happen to know what they use as a value marker, Like NADA or KBB or is there some other document insurance companies use?

[cebra]

Originally Posted by Wobpb377

Do you Happen to know what they use as a value marker, Like NADA or KBB or is there some other document insurance companies use?

I was told by my insurer (Progressive) that in my state they need to go by the book value the state uses for taxes. Ironically, my truck is worth/has invested $35K (not including my 2K+ man hours) but I pay taxes on $600. My Audi that blew up had 200K miles on it and was really worth about $2K if I were to sell it and I paid taxes on $15K this past year.

[57Suburb]

Originally Posted by Wobpb377

Do you Happen to know what they use as a value marker, Like NADA or KBB or is there some other document insurance companies use?

It's a stated value policy for both my rides. 30k on my Camaro, 15k on my GMC.

[cebra]

There is a lot of useful information in here but at the end of the day I think the resounding answer is that if you drive it...you risk losing it. If you garage it, don't drive it much, and have a 2nd vehicle, you can get real insurance. I do have to beg the question on the last one, I have gone long periods of time with no car at all as I always live in cities, why couldn't you just have a classic you only drive to shows/weekend cruise and not have a 2nd car if you walk everywhere. Moot point but I could see myself arguing that at some point but right now I drive a ton.

[toolboxchev]

Anything one looks up on the internet just drives up prices.

It all hinges on the agent you personally deal with. I have confirmed this.

[Graham57a]

Originally Posted by MARKDTN

I tried about 15 years ago and Farm Bureau would write a comprehensive policy for a DD classic car, but it was not going to be cheap. He said basically the same price as insuring a new one. He sent me to Condon and Skelley (MetLife). Never had a claim, but have heard good things.

I also have Condon Skelly, currently insuring two trucks with them. In NC they require you carry liability insurance with your primary insurance (NCFB for me) which is $30 a month per vehicle, and their policy just covers comp and collision. We have an agreed value on both trucks, I just sent them photos and they didn't ask any additional questions from there. They have no cap on the mileage per year, the only downside is they require you store your truck in a locked garage. I think I pay $400 a year to insure both of my trucks with them, total agreed value is $70,000. Hope this helps