Another insurance question for T type/Turbo T owners

["Turbo-T"]

Suppose (god forbid) your car gets stolen/totalled....do insurance companies just write off these cars as "It's nothing special, it's just a Regal"? Or do they actually see it for what it is?

 

[BMS1]

if you have collector car insurance then they will insure you for the cars worth not sure if that is the "agreed" value or "stated" value I cannot remember.

If you have regular car insurance then you probably will get not get that much for the car.

 

[Pitbozz]

I can only attest to my experience. Others have different stories. I am insured with State Farm and I had a GN stolen a couple years back. When I first got it insured I made damn sure they knew it was not a regular Regal and after they ran the VIN, it came back as a GN and they had the value listed correctly or there-abouts. When I reported it stolen, I had to wait 30 days to see if it would be recovered. It wasn't and I contacted them again on day 31. The first lady I spoke with attempted to shaft me by saying it was 'just' a Regal. I politely informed her she didn't have a clue what she was talking about. She said if I had any other documentation to show the value to submit it and they would review it. I printed out the NADA/Kelley prices, about a dozen Autotrader ads, multiple pictures including the first place trophy I won at the World of Wheels in Shreveport, and the piez de resistance....an appraisal for about quadruple the amount I was first offered. I faxed it to them and the next day I was contacted by someone over her and he could not apologize enough for the first offer. He said after looking at everything he had zero problem with the appraisal price.

One thing you may have a problem with in using a conventional insurance place now is the NADA/Kelly books don't go back to 1987. NADA has a collectors book, I believe that now has the 87 T's and GN's. Just make sure they show you how they establish what they will pay on a total claim. Get an appraisal done by a certified appraiser to show the value and make sure they are close enough for comfort.

Most folks on here use the collector insurance places which is fine if it suits your needs. You agree on a value and you get that amount on a covered claim. For me the stipulations didn't work (can't drive it to work being the main one) so I went with a conventional company.

Sorry for the lengthy response, but the main thing I can advise, no matter which way you decide, is get an appraisal done by a certified appraiser BEFORE you need it.

 

["Turbo-T"]

No problem, I actually appreciate the help.

I have considered calling Hagerty and having the car insured as a specialty/collector car, this of course will limit how often and where and when i can drive it.

I have found auto appraisers seem to be far and few in between. I couldn't find one when i lived in NC.

 

[ngc414]

I own an agency in Ohio. We have several markets and collector car markets as well. Be sure to speak with a local agent and get Agreed Value. Some insurance guidelines vary from state to state. Stated value does not guarantee anything, only that they will pay up to that amount. If you want a guarantee, get Agreed. I find that even most agents mix them up or don’t completely understand them. The best advice I can give is keep all your documentation and records of anything that would be relevant to the cars value. Magazine articles about a particular car can help. Every company is different, But I find that some of our standard markets are great for collector cars as well. Keep in mind that an agent or adjuster cannot tell you where to get your car repaired. They can only give you referrals. Also, if you don’t agree with an adjusters claim amount you can dispute it. Most insurance adjusters will try to find a resolution if its reasonable. Hope this helps a bit

 

[Evans Ward]

Hagerty is a much better option than Grundy! Hagerty will let you use your car to stop by the grocery store out after a cruise where Grundy prohibits any errands whatsoever. I think Grundy just wants to insure garage queens. :redface:

 

["Turbo-T"]

I'm surprised Hagerty would even allow that. I know they forbade driving the car to work, in fact I think their rule was "stricly for parades and weekend drives only".

Of course I now live in the country where deer run rampant. What happens if I have to drive it home and end up with a venison hood ornament?

 

[Evans Ward]

You do have to show Hagerty a copy of the declaration that you have a daily driver. There are different levels of policy riders too within a particular company. I have my old GS with Hagerty as well as a clasic motorcycle. I elected to keep my TR on conventional insurance so to be able to drive the car whenever I desire including to work.

In answer to your last question, yes they would pay I'm sure if you accidently hit a deer.