Collector car insurance on a 5?

[xstuntman]

Curious to see if I can like Hagertys or another.

I retired last September and my car was driven once in the last eight months with 16.5k on the clock. Paying a grand a year currently and obviously not a daily so maybe. Here's a pic of her when I was still working for Kim Jung Un and his Special Ed Unit. Gotta love retirement. 😄

[mlee]

I use Grundy for mine. No mileage requirements and you simply pick your value.

You will have to prove you have another daily driver in order to qualify.. https://www.grundy.com/client-services/

[Aqua Blue RS/SS]

Yep I’ve got Hagerty on mine. 40,000 agreed value. Collectively my 72 K20, 87 IROC-Z, and 2010 SS have about 70,000 in agreed value coverage and cost roughly 110 a month.

[mlee]

Originally Posted by Aqua Blue RS/SS

Yep I’ve got Hagerty on mine. 40,000 agreed value. Collectively my 72 K20, 87 IROC-Z, and 2010 SS have about 70,000 in agreed value coverage and cost roughly 110 a month.

So 1,320 / yr for 3 cars?? Confused over the 40k agreed value then 70k agreed value.

Which is which

[ariZona28]

Originally Posted by mlee

I use Grundy for mine. No mileage requirements and you simply pick your value.

You will have to prove you have another daily driver in order to qualify

+1 for Grundy. I've got my '71 Cutlass, my '03 Z06 and my '15 Z/28 with them. About $1500 per year for all three. Only way to go!

[ariZona28]

Originally Posted by mlee

So 1,320 / yr for 3 cars?? Confused over the 40k agreed value then 70k agreed value.

Which is which

My preliminary guess is $20K for K20, $10K for '87 Z and $40K for the beautiful ABM. Grand total= $70K.

[Aqua Blue RS/SS]

Originally Posted by ariZona28

My preliminary guess is $20K for K20, $10K for '87 Z and $40K for the beautiful ABM. Grand total= $70K.

Pretty damn close… 15K for the K20, 15K for the IROC, and 40K for the ABM. Collectively all 3 have 70K in agreed coverage.

[InFiD3ViL]

Originally Posted by mlee

I use Grundy for mine. No mileage requirements and you simply pick your value.

You will have to prove you have another daily driver in order to qualify.. https://www.grundy.com/client-services/

Do you know if these companies have a max mileage disqualifer? My 2010 SS now has 174K miles, mostly highway from work, but has been retired and I now drive it MAYBE 50 miles a month. The last 3 years it has had maybe 1500 miles put on her total. The car looks amazing and you could never tell the miles on it. I have put so much money into this car in mods and restoration and such that I know I would never get any actual value on it from a standard insurance company if something happened.

[ariZona28]

Seeing as they insure Deuesenburgs and REO Speedwagons (the car, not the band) I'm pretty sure there's no mileage "ceiling" on collector car insurance. My Olds has close to 150K on it and I've got it covered for $25K.

[CamaroDreams76]

How does collector car insurance work? Is it a supplement to regular insurance or stand alone or both?

[Aqua Blue RS/SS]

I honestly don’t even know how many miles my K20 has. I’m sure it’s rolled over multiple times.

Collector car insurance is a standalone policy that normally has a separate daily driver requirement and sometimes mileage restrictions. They are normally agreed value where you and the insurance company agree the value is XXXXXX and if it gets totaled you are guaranteed that amount in payment, so no insurance haggling over payout price. Hagerty lets you choose any place you want to do repairs should the be necessary, and they will also let you repair it yourself, I did this last fall when my SS got hit. I like being able to fix it myself. I don’t like other peoples paws on my cars.

Obviously they carry all the necessary medical, liability, etc. as well.

[SummitWhite11]

I use Modern American Insurance with an agreed value of $25k and no more than 3k miles per year. I pay close to $900 a year for this. No other collector car insurance company would cover my 2010 Camaro. I wonder if I was to shop around and inform them I am already covered under collector insurance... if they would change their mind. I have yet to do that. Curious if there is a better rate nowadays.. but living in Florida I doubt it.

[InFiD3ViL]

Originally Posted by SummitWhite11

I use Modern American Insurance with an agreed value of $25k and no more than 3k miles per year. I pay close to $900 a year for this. No other collector car insurance company would cover my 2010 Camaro. I wonder if I was to shop around and inform them I am already covered under collector insurance... if they would change their mind. I have yet to do that. Curious if there is a better rate nowadays.. but living in Florida I doubt it.

$900 a year is fantastic! I am with Progressive currently and my Camaro is like $120 a month. I also pay $102 monthly for my 2004 Escalade and...over $200 per month for my 2015 Corolla S. When I only had my Corolla insured through Progressive it was $309 per month. Florida is a nightmare for insurance these days. These are all at full coverage (lowest levels) with $1000 deductibles at 50 years old, a clean driving record, and good credit score. I am currently shopping for new insurance, if you could imagine.

[mlee]

Originally Posted by InFiD3ViL

Do you know if these companies have a max mileage disqualifer? My 2010 SS now has 174K miles, mostly highway from work, but has been retired and I now drive it MAYBE 50 miles a month. The last 3 years it has had maybe 1500 miles put on her total. The car looks amazing and you could never tell the miles on it. I have put so much money into this car in mods and restoration and such that I know I would never get any actual value on it from a standard insurance company if something happened.

Grundy does not... your car is a collector now and lots of collector cars have high miles. They also let you drive as many miles as you want as long as it's not your daily back and forth to work car. The FAQs explain pretty well.

I tried Haggerty first as I'm subscribed so some of their stuff through SCCA already and there was something that was a showstopper for my situation but can't remember the details on that.

Originally Posted by CamaroDreams76

How does collector car insurance work? Is it a supplement to regular insurance or stand alone or both?

It's just regular insurance. I tried to put a supplement on mine but they wanted me to check it in and out when I used it. With Grundy I can drive anytime I want and as far as I want so much easier.

Originally Posted by SummitWhite11

I use Modern American Insurance with an agreed value of $25k and no more than 3k miles per year. I pay close to $900 a year for this. No other collector car insurance company would cover my 2010 Camaro. I wonder if I was to shop around and inform them I am already covered under collector insurance... if they would change their mind. I have yet to do that. Curious if there is a better rate nowadays.. but living in Florida I doubt it.

I pay slightly less for Grundy... $1,740 - 2 cars and valued at 70k each. If I dropped it to 25k like yours it would be quite a bit less.