News:

Due to a technical issue, some recently uploaded pictures have been lost. We are investigating why this happened but the issue has been resolved so that future uploads should be safe.  You can also Modify your post (MORE...) and re-upload the pictures in your post.

Main Menu

Collector car insurance for a "driveway/driver" collector car?

Started by Caddy Wizard, April 24, 2018, 09:55:08 AM

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

Caddy Wizard

If you insure a collector car with Hagerty or another specialty insurer for antique vehicles, you can get a very low rate for limited use, but they typically require you to keep the car in a garage.  If you insure an old car with a normal insurance company, they won't require it to be garaged, but the high cost of insuring a car that you seldom use is prohibitive.

Does anyone have a suggestion for who insures antique cars at reasonable rates without requiring you to have the car in a garage?  My "driver" 55 FW is forced to sit outside for the foreseeable future, until that happy day that I can build an additional garage on my property.  I have the land for such a garage, but am awaiting budget...
Art Gardner


1955 S60 Fleetwood sedan (now under resto -- has been in paint shop since June 2022!)
1955 S62 Coupe (future show car? 2/3 done)
1958 Eldo Seville (2/3 done)

Barry M Wheeler #2189

My State Farm insurance is $139.00 per year each for the '81 Seville and '79 Fleetwood. (I usually pay it by quarter which is $34.77.) This lets me drive it for repairs and car related events. I haven't checked but I believe that I'm also allowed "now and then" driving, like on a Sunday drive.

My agent had to come out and take pictures and inspect the cars himself. I don't believe that I had to keep them in the garage, although I do.
Barry M. Wheeler #2189


1981 Cadillac Seville
1991 Cadillac Seville

Scot Minesinger

My three 1970 Cadillacs are insured as regular cars added on to my main policy, and the rates are very low.  The reason I do this is to not suffer a limitation on driving them or what the use may be.  They are registered as regular cars and get inspected every year.  This way I can drive them anywhere at any time.  The only drawback is the stated value on each car is lower than what is fair, about 75% of the true value.

The reason rates are low as Barry wrote is that you can only drive one car.  When we gave my teenage daughter the use of my wife's car (already had 6 cars and 5 drivers) and bought my wife a 45k new car the added rate for full coverage was only $300 per year.

Call and get a quote, you might be surprised. 

I don't use the classic car insurer's due to the restrictions on use.  Granted it would be great to have the higher insured value, but do not want a claim denied when I drive to a remote client meeting on a sunny Thursday afternoon.
Fairfax Station, VA  22039 (Washington DC Sub)
1970 Cadillac DeVille Convertible
1970 Cadillac Sedan DeVille
1970 four door Convertible w/Cadillac Warranty

James Landi

Art,

You are channeling your pain to me...your beautiful 62 year old car deserves to be under cover in the winter!  Hell, I 'm paying for heated storage for my 11 year old xlr-- and yes, I have Haggery insurance, so if someone breaks one of my headlights in a parking lot accident, they'll pay me for a "total loss"--- I'm exaggerating but not much.  Here's hoping you get that garage built so your '55 won't ever be in the snow again.   Happy day,   James 

Jeff Rosansky CLC #28373

I have State Farm and it seems reasonable. Have a "Low Mileage" policy which allows me 7500 miles/year. They have asked me for a mileage check a couple of times. Actually my 20 year old is listed as the primary driver for it to keep the rate low on our other car. We were honest with the agent but they wrote it that way. Everyone is insured on every car
Jeff
Jeff Rosansky
CLC #28373
1970 Coupe DeVille (Big Red)
1955 Series 62 (Baby Blue)
Dad's new 1979 Coupe DeVille

william_b_noble

interesting that state farm will insure you - so far my experience is not good - I had JC taylor for 30 years, they now refuse to cover cars not stored in a 4 sided closed locked garage, State farm has so far refused, this is making me think that I should just sell my 50 Eldorado and some other collector cars since I can't license or drive them.  Anyone have thoughts?
Bill N - clc # 2371

Caddy Wizard

Quote from: James Landi on April 24, 2018, 06:26:30 PM
Art,

You are channeling your pain to me...your beautiful 62 year old car deserves to be under cover in the winter!  Hell, I 'm paying for heated storage for my 11 year old xlr-- and yes, I have Haggery insurance, so if someone breaks one of my headlights in a parking lot accident, they'll pay me for a "total loss"--- I'm exaggerating but not much.  Here's hoping you get that garage built so your '55 won't ever be in the snow again.   Happy day,   James


I sold my old house.  Finally!  So building a garage seems to be in my immediate future.
Art Gardner


1955 S60 Fleetwood sedan (now under resto -- has been in paint shop since June 2022!)
1955 S62 Coupe (future show car? 2/3 done)
1958 Eldo Seville (2/3 done)

Abe Lugo

We use AAA insurance here in CA.
The policy covers us first as drivers and we get full coverage on any vehicle on the policy. That said, we have had a couple classic cars on the policy. I believe they want to make sure it is not your main vehicle, so under 7500 miles per year, and you can lower for a better rate. One thing they did do is photograph the vehicles for their records. They would also negotiate a fixed value if you need to have the vehicle insured for a fixed amount.

The is the main thing with most insurance policies for classic cars, make sure that you and the company have an "agreed upon" value stated on the policy. You can have it appraised or you can show your purchase price and receipts for all the work you have done to it. Either way if the worst happens to the vehicle you want to make sure you get your value back.


Abe Lugo  CLC#31763  Sunny Los Angeles,CA @abelugo IG

Bob Kielar

Hello Art,
               Congratulations on selling the house. We have American Family insurance for everything. We could not be happier the cost for the 1955 Cadillac is $153.40 a year that is full coverage year round unlimited miles $500.00 deductible free towing. I checked with all the collector car companies and they don’t even come close. When I had the accident they paid without any questions. Just got off the phone with my agent and they don’t care if the car is outside. My agent said she has a American Family agent in Atlanta that is a personal friend if you need that information let me know.

Regards,

Bob Kielar
Keep Cruzin
1955 Cadillac Fleetwood

Lexi

Quote from: Art Gardner CLC 23021 on January 24, 2019, 10:13:20 AM

I sold my old house.  Finally!  So building a garage seems to be in my immediate future.

Art congrats on the house sale and good luck with your garage project. Clay/Lexi

Bob Kielar

Art I know you probably know this but when building your new garage make sure the concrete is thick enough to support a hoist.

Regards,

Bob Kielar
Keep Cruzin
1955 Cadillac Fleetwood

z3skybolt

I have been a customer of Shelter Insurance for 43 years. Have everything there but my airplane. They insured my LaSalle "full coverage" for $195.00 per year....up to 7,500 miles...no other restrictions.

I moved to Hagerty two years ago. It is more expensive, $291.00 per year, but gives a "guaranteed" replacement value which Shelter would not do.  I do keep my LaSalle in the garage....but have been told by Hagerty to "drive and enjoy your LaSalle".

Bob
1940 LaSalle 5227 Coupe(purchased May 2016)
1985 Lincoln Town Car Signature Series. Bought New.

signart

Build that garage!
"You can sleep in your Cadillac, but you can't ride around in your house"
Art D. Woody