Question about insurance for classic cars - Impala Tech
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post #1 of 19 (permalink) Old 03-27-2009, 04:08 PM Thread Starter
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Question about insurance for classic cars

I have just got off the phone with AllState where I have all my cars insured. I have asked them if they would insure something like 1967 Impala. They told me that I had two options, one is to get classic insurance with mileage limitation (not for me if I want to use it as a daily driver) or to get it insured for liability only. I have asked if I can get theft insurance for such car, but they said it would have to be 1980 or newer. They do not have full coverage option for cars built prior to 1980.

Is anybody here that has their classic car insured as a daily driver? With my $5K budget I am not going to get a show car but I would like to have full coverage on it.
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post #2 of 19 (permalink) Old 03-27-2009, 07:04 PM
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Hey Alex,

Insurance....Isn't it GREAT??? When I got my car ready to drive,I called my insurance carrier. They wanted as much as I was already paying for four drivers and 3 vehicles!!
So I decided to call one of the collector car companies. I really don't remember if mileage came into the equation. I do remember being asked to fill out a short questionaire and it did ask approx.mileage driven. Their biggest concern at the time was the two drivers under 25 in the household. No way could those two get behind the wheel,and THAT is in the policy. I would recommend calling and talking to them, as everything else in this policy reflects my coverage on my other vehicles (amounts,
liability,personal injury,etc.) My premium for the year is under $200. And I think they are one of the sponsors here, they are on another site. Grundy Worldwide. I have been looking around here for a 66-71 Impalas, have not come across anything in your price range though.
Gary
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post #3 of 19 (permalink) Old 03-27-2009, 07:37 PM
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Well, I just called State Farm (agent on my other two cars) to possibly insure the 69 I maybe buying in the next few days. Full coverage is gonna cost me $19.00 a month.

Ape Out.
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post #4 of 19 (permalink) Old 03-27-2009, 08:21 PM
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ask them if they will do an "agreed value policy" for a daily driver. then you can set the replacement cost of the car as opposed to any crazy book value.
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post #5 of 19 (permalink) Old 03-27-2009, 09:13 PM Thread Starter
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Cool. Thanks for the info. I guess I have to find car first but it is good to know things like insurance before so there are no surprises.
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post #6 of 19 (permalink) Old 03-28-2009, 01:34 AM
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The rule for Hagerty is that you must have another vehicle as a daily driver insured somewhere else. Let's face it, it is either a collector car or a regular car. I doubt any company would do an agreed value on a daily driver.
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post #7 of 19 (permalink) Old 03-29-2009, 09:21 PM Thread Starter
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So forget about classic (collector) car. I want an insured 67 daily driver. I am prepared to pay full insurance premium that I currently pay for my aging Buick but my insurance company told me that they will not insure it because it is older than 1980. Now classic insurance has all the restrictions (mileage, another car, etc). So do I have any other option that to get just liability from my current insurance company?
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post #8 of 19 (permalink) Old 03-29-2009, 09:34 PM
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1969 Impala Custom. State Farm. Full Coverage, 7000 miles a year, $18 a month.

Ape Out.
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post #9 of 19 (permalink) Old 04-01-2009, 11:39 AM Thread Starter
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Ape: That's cheap. Weird thing is that I just filled their on-line form and was quoted $995 semi-annually for my two cars. That's more than I pay yearly for the same coverage/cars at AllState. It is also $500 more than I used to pay at AAA before I switched to AllState.
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post #10 of 19 (permalink) Old 04-01-2009, 12:19 PM
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I have Allstate with full coverage on my 67. I've had this car since 06' they never said anything about there being different coverages besides full and liabilty.

1967 Chevy Impala 4 dr hrd tp...
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post #11 of 19 (permalink) Old 04-01-2009, 08:55 PM Thread Starter
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I have to call the guy again. The rules should be the same within the company.
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post #12 of 19 (permalink) Old 04-02-2009, 11:16 AM
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I have Allstate as well and before my 62 impala went under the knife I called my agent in the spring and added the car for about 19 a month and in the winter when I was not driving it I dropped the coverage to theft or damage while it was in my garage. Did this for 5 years no issues with it being a older car. Just my $.02 you need to either find a different agent with the same Co. or find a new insurance Co.

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post #13 of 19 (permalink) Old 04-02-2009, 02:14 PM
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yeah, I'm 42 and Progressive is boning me for $700/year for the 66 Impala, and it's not my primary driver either!

That is just wrong. I'm looking elsewhere for all my toys.
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post #14 of 19 (permalink) Old 04-26-2009, 08:26 PM
 
 
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I feel sorry for the guys with Allstate as they are the worst company still in business. They bulled me good years ago and haven't changed their ways but that's another story.

I have 4 of my cars insured with Grundy Worldwild. I believe their main office is in NJ.

Grundy does not have a mileage limitation, no daily drivers and must have other car(s) insured elsewhere. You must have the cars in a secure building/garage, they require pictures if less then certain age. They even took my 2002 Corvette when it was a year old. The coverage is a stated valve for collision & comprehensive, you may select liability coverage to $300K and it has medical payments and unisured motorist coverage.

Cost is as little as $140 per year. Total cost of my 4 cars with optional coverages is only $1215. for current year.

Best part is no limit on driving as long as it's not a daily driver. Check them out, they have a website.

Bob

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post #15 of 19 (permalink) Old 04-27-2009, 12:06 AM
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I have 2 classic cars.My 1973 Corvette is insured with JC Taylor co. out of Pa.Insured for $25,000.00 agreed coverage,$180.00 a year.Only limitations must be garaged when not in use. My other car 1964 Impala Convertible 409/425hp,is insured with Haggerty thru Allstate.It has an agreed value of $65,000.00,supplied pictures and insurance company looked over car.No restrictions,except must be garage kept $427.00 a year.Of course I'm an old man of 61 years old,and have 4 other cars insured with Allstate. John

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1973 Corvette Stingray Coupe-350/275hp-L-82,4 speed,posi rear-original owner
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post #16 of 19 (permalink) Old 05-06-2009, 01:05 PM Thread Starter
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Just got back from my local AllState office. I can get full coverage for 1970 Kingswood for $560/year. That's with $6K agreed value. Pretty much about the same as I pay for my other daily drivers.
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post #17 of 19 (permalink) Old 05-06-2009, 02:15 PM
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Quote:
Originally Posted by drabina View Post
Just got back from my local AllState office. I can get full coverage for 1970 Kingswood for $560/year. That's with $6K agreed value. Pretty much about the same as I pay for my other daily drivers.
Wow man, I am only going to pay 19 a month at State Farm for my 69 Custom. I would look around.

Ape Out.
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post #18 of 19 (permalink) Old 05-06-2009, 02:21 PM
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"going to pay" - 19/month?

even if it turns out to be that little, you're just getting an outstanding rate for some reason Ape. You're a lucky guy!

I've now checked with 5 other companies and for full coverage, and being allowed to drive it whenever I want - Alex's rate of $560/year doesn't seem too far out of line for a $6000 car.

I'm 42 but I do have to speed tickets from 2 years ago.
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post #19 of 19 (permalink) Old 05-06-2009, 03:02 PM Thread Starter
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This rate ($560/year) is for a daily driver with $6000 agreed value, $500 deductible, 300/100K limits, no mileage limit and car does not have to be garaged. Plus since I am in NJ the rates are probably twice what other states charge. So I am happy.

All other insurances (Haggerty, JC Taylor, etc) insure only classic cars that are not driven daily and need locked garage.
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