Custom/Classic car insurance

[Nosocks]

Building off the show car thread.

Looking at 60s era car that's been heavily modified in terms of body work and mechanical stuff - similar to a hot rod.

Still working on the price and wether I want to go through with it.

However, how the hell do you insure these things? Especially considering the valuations can be volatile and somewhat subjective.

What does it cost to insure them?

 

[Wizard29]

I have a stated value policy with AAA on mine. Pretty reasonable, but mine sees very few miles each year.

 

[H20 Toie]

i just called Devin Wozencraft for my chevelle, he had lots of options depending on how much i used it

 

[bowtiejunkie]

Typically it's inexpensive, as the assumption is the vehicle is not driven daily nor to run errands. Basically a vehicle for shows or events. You send pics and a description of certain things, plus the value you want the insurance company to agree upon. Get agreed value insurance. Don't get Actual Cash Value and Stated Value Insurance. Agreed-upon value insurance guarantees you will be paid the agree upon value in event of total loss. No adjustment for depreciation or trying to prove the value as it's been agreed upon in advance.

A classic auto insurer or broker is going to be your best route.

 

[FlyByWire]

I have classic car insurance for my 67 Chevelle LS2 through Hagerty on stated value

 

[Todd Mohr]

I have stated value through Heacock, 35k for 330 p/year

 

[dave29]

Hagerty. I have 5 cars with them. Agreed upon value.

 

[bonesfab]

Grundy is the other one. I have a few through them. The big Problem looming is finding the shops who want to repair them and deal with the insurance bullshit. Insurance companys are tightening their belts and them paying out on these is getting interesting. The 55 chevy my customer wadded up a few years ago is still sitting here waiting in him to get paid. The insurance companies don't have a clue of what it takes to put some of these cars back to pre accident conditions. I am pretty much over doing insurance work for that reason. And regular body shops don't want to touch much over 10 years old now. The high end hot rod shops that build these cars don't want to fight that much as they have plenty of paying work so why deal with the insurance companies trying to beat you up on price. So who is going to do the work.

 

[OC Daytona]

I have Kemper Infinity. They have a classic car group. One of my buddies on Protouring site turned me on to them 7-8 years ago
Stated value policy, they charge $750 for $130k coverage for a 67 LS3 RestoMod Camaro. I think I heard Hagerty is trying to buy them, so I'll prob be on Hagerty at some point.

 

[Bigbore500r]

Building off the show car thread.

Looking at 60s era car that's been heavily modified in terms of body work and mechanical stuff - similar to a hot rod.

Still working on the price and wether I want to go through with it.

However, how the hell do you insure these things? Especially considering the valuations can be volatile and somewhat subjective.

What does it cost to insure them?

I have a stated value classic auto policy thru Grundy. Easy and reasonable cost.
My car is 40k, 500hp '67 and I believe premium is under $400 a year. Your zip code will affect the premium more than anything

 

[RitcheyRch]

My dad has his 64 GTO through State Farm with agreed upon value.

 

[jesco]

I use Hagerty on my 55 Bel Air and 70 Caddy both on "Agreed upon value". Easy to do, had to send a few pics and they called with some questions. Both Insured for more than I can sell them for... at least right now. Should've dumped the 55 during Covid when stuff was selling stupid high and got some of that PPP money people were burning, hahaha.

 

[the510]

post some pi

I use Hagerty on my 55 Bel Air and 70 Caddy both on "Agreed upon value". Easy to do, had to send a few pics and they called with some questions. Both Insured for more than I can sell them for... at least right now. Should've dumped the 55 during Covid when stuff was selling stupid high and got some of that PPP money people were burning, hahaha.
View attachment 1413706

lets see more of the 55!

 

[jesco]

lets see more of the 55!

Full frame off resto in early 2000s by a guy that had a NASCAR team. He would have his guys work/build his hot rods during down time. Needs newer updated interior, buts its a solid 10 car as far as how clean it is. All original steel, CA car, ZERO rust.

 

[angiebaby]

I recently used Hagarty for our '86 CJ-7 and '72 K-10 pickup. Both were insured for their stated value. When I gave the value I wanted insured, there was no question at all. They asked some questions about annual mileage and storage. I think it ended up being a little over $500 total for both vehicles, including their towing membership.

It was less to insure through Hagarty with the comp and collision at the stated value with a $0 deductible than liability-only through Geico.

 

[Dkahnjob]

I have 3 cars with Grundy and have been very happy. Never have had a claim.
All Stated Value, $1,400.00 for all three cars.

 

[Mikemo_SDS]

Grundy. I talked to people that switched from Hagerty due to issues with payouts. I’ve never had a claim, hope I never do.

 

[Badchoices03]

I don't have a classic car, but my boat is insured through Markel, I hadn't heard of them when my broker first offered me their converage so I looked them up, apparently they are pretty big in the classic car insurance world and other specialty type insurance.

 

[the510]

Grundy. I talked to people that switched from Hagerty due to issues with payouts. I’ve never had a claim, hope I never do.

I might have to look into Grundy. Hagerty has been good, But I pay about $1,500 for two cars.

 

[the510]

Full frame off resto in early 2000s by a guy that had a NASCAR team. He would have his guys work/build his hot rods during down time. Needs newer updated interior, buts its a solid 10 car as far as how clean it is. All original steel, CA car, ZERO rust.
View attachment 1413753 View attachment 1413754 View attachment 1413755 View attachment 1413756 View attachment 1413758 View attachment 1413759

was this the 55 displayed in the Chemical Guys shop in Gardena?

 

[CoolCruzin]

Classic auto ins is the best way as said .
I’m using Hagerty

 

[TonyFanelli]

I might have to look into Grundy. Hagerty has been good, But I pay about $1,500 for two cars.

'72 Ford F100 shortbed 4x4
'75 Chevy stepside K10
2017 Shelby GT350
Through Haggerty guaranteed value pretty high on each, no questions, no pics $1500 a year after one day of review. Bonesfab is on point when he said no one wants to work on the older vehicles, my '72 ford sat in a shop for over 3 years until I finally told him just paint it and I'll put it together. I wonder if Haggerty is higher in CA( if thats where you're at), or if your guaranteed values are alot higher than mine.

 

[the510]

'72 Ford F100 shortbed 4x4
'75 Chevy stepside K10
2017 Shelby GT350
Through Haggerty guaranteed value pretty high on each, no questions, no pics $1500 a year after one day of review. Bonesfab is on point when he said no one wants to work on the older vehicles, my '72 ford sat in a shop for over 3 years until I finally told him just paint it and I'll put it together. I wonder if Haggerty is higher in CA( if thats where you're at), or if your guaranteed values are alot higher than mine.

Yes, I am in California. Value is set a little high on one of the cars. It took some photos, receipts and other comparables. To be honest it was not hard to get. I have been happy with Hagerty for the past 6 years. Obviously, no claims. The price hasn't really gone up much either.

 

[jesco]

was this the 55 displayed in the Chemical Guys shop in Gardena?

Not while I have owned it, which is coming up on 7 years now.