Collector Car Insurance

[MrMeanGreen]

Does anyone here have it, and what company do you use? I've only been able to get one phone quote (due to offices closing at 5pm EST and I'm out of the office at 5pm CST) for $580/annually, which covers $30k for the Formula and supporting mods, and carries a very liberal amount of coverage. There's also a cap of 5k miles/year, which is substancially more than it sees anyways.

 

I've gotten a few online quotes ranging from $380-450/year, but the finer details haven't been established like in the phone quote, so I'm gonna call around and see what I can find.

 

Info and links/contact info would be appreciated

[Dave1647545494]

you need to have the car appraised so the total value can be covered almost any regular car insurance outfit has collector insurance also

[Sam1647545489]

1-800-Safe-Auto,

 

Pick up the phone, the call is free,

 

1-800-Safe-Auto

 

Play it safe, with safe auto...

[AJ]

call progressive, they do not have people standing by. they are comfortably seated

[lawnman]

Try http://www.classiccarinsurance.com phone # is 1 800 866 6440 His name is Mike Smith. He insured my Cobra replica, 30K stated value with no appraisal needed. The cost was under $400 a year. He is a car guy also.

[Wease]

So no more track duty for the Formula, eh? Because classic car insurance is to and from car shows only, never parked in a parking lot unattended, etc.. You are getting old...

[RS69]

I use Hagerty, there is no milerage restrictions. Your Forumla might be too new though.

[MrMeanGreen]

Some of you need to research more before assuming what is/is not covered.

 

I've already covered and ok'd the track duties with the one noted on the phone, which happens to be Hagerty.

 

The biggest reason I'm doing this is because of the five months a year the car sits in the garage and how often it's not driven during the summer because of work or kids or whatever. There's no point to paying full premiums when I can get the same coverage for less because of the niche market combined with the mileage limitations which I meet.

 

Thanks to those so far with realistic information pertaining to my information request.

[baron_]

darkformula

 

as you probably know, progressive and safe-auto don't do classic car insurance (although they'll refer you to companies that will)

 

 

anyways, one thing to look at in particular is what kind of coverage they offer

some of the cheaper plans will offer coverage for repairs, like a normal insurance agent

 

hagerty and the better plans offer 20k, 30k with fewer strings

 

 

 

easier way to explain that:

Ask, if your car is stolen...do you get 30k?

or, if your car is stolen...do you get the recovered car + $$$ for how much damage was done to it

 

My buddy learned the hard way that he had the cheap coverage

someone stole...trashed his car and abused it (hard to tell how bad it was abused)

he got the car back in poor shape and they were only willing to pay him the difference in value

[AJ]

http://www.parishheacock.com

[lawnman]

Dark formula, are you saying you found an insurance company that will cover you while at the track? If so let me know what company that is. My insurance will not cover that racing.

[Wease]

Some of you need to research more before assuming what is/is not covered.

 

I've already covered and ok'd the track duties with the one noted on the phone, which happens to be Hagerty.

 

That's cool that you found someone that will cover it. As you know, I've owned many classic cars and never heard of a policy like that. I had insurance though USAA, as they have some sort of child company that covers that stuff.

[Total Sign]

TL Dallas.

 

They can insure anything anyway you would like.

[MrMeanGreen]

When I talked with Hagerty yesterday, they asked what category my car was in. I told them that I drag raced it, went through a partial list of mods with them, and stated I also went to car shows. Although I hate the inclusion, they classified my car in their "tuner" category and quoted me as such.

 

They're sending me a quote sheet that I have to finish, where I list all of my mods (as well as cosmetically) and include a copy of my limited production letter from Pontiac, and I have to send some pics of the car from various angles.

 

So yes, there's a category for racing that will cover the vehicle at the track. She explained it's a newer thing they're doing.

[lawnman]

Maybe I will give them a call. Thats funny they call it a tuner car.

[Buckeye1647545503]

tuner...you did not mention the wire loom did you

[baron_]

i used ralleye or rallye or ralley, i can't remember now (i'll look around)

i don't know if they insure for track use

 

 

it really helps if you say your car will *never* see track time...and just write up the whole quote as a ridiculously nice showcar

 

cheaper and less restrictions

with your car though...a track accident might m ake it worth the while to not 'cheat'

[Wease]

So yes, there's a category for racing that will cover the vehicle at the track. She explained it's a newer thing they're doing.

 

Sweet. I should look into that for my car, as it's already in "Collector Car" status with the BMV, even though I don't drag race it. Not yet anyway...

[caseyctsv]

I have State Farm and when it is not being driven I just drop the coverage to just the comprehensive. Is that not an option for you? It only costs me like 10-15 per month while in storage?

[TonyG]

Rally is what a lot of the guys use on the supraforums, and there is a an issue with track use, I believe you have to sign a form stating you dont race it in anyway.

[MaTS1200]

I have State Farm and when it is not being driven I just drop the coverage to just the comprehensive. Is that not an option for you? It only costs me like 10-15 per month while in storage?

 

I do the same thing with Erie insurance. I drop to comprehensive from Dec-April. It's about $20.00/month.

[MrMeanGreen]

$30/mo for winter storage, $120/mo for full everything + additional $5k waiver for aftermarket parts.

 

Or, less than half of that for all-year around and a $30k set price via collector insurance. See my point?

[MrMeanGreen]

Update. My insurance was shot down.

 

They allow three moving violations per household in three years. I have two speeding with points, Jessica has one no points, and I have one no points speeding 39 in a 35. They still count them, so that's four and out the door.

 

Back to regular daily insurance for me with waiver.

[excell]

I called and got quotes today from Hagerty and Rally/Safeco for my other car. Rally beat Hagerty by a large amount. $131 every six months with 50/100/50 and $250 deductables and basic towing. Hagerty was $408 every six months for 15/30/15 and $0 deductables. Both for 2500 miles or less per year, and "show only" (no racing) coverage.

 

Not bad, $21 a month for full coverage rocks.

[MrMeanGreen]

I just submitted a quote to Rally. We'll see.