Car Insurance for the GN?

[asrnj77]

What are you guys doing about coverage on the Buicks? If your modified beauty cost you 13k and gets stolen is Geico going to give you 3.5k...yes...

Collectors insurance doesn't really work for me because I want this to be my daily driver. I drive maybe 7-8k a year but Collectors insurance usually requires another vehicle under a normal insurance company/policy and you might only be able to drive to/from shows and events.

Does anybody know of a company that does a Stated Value or Agreed Upon Value? I know that Geico does not.

 

[DJ Red Barron]

Call Hagerty at 800-922-4050. I'm not sure what their mileage cap is. But it wouldn't hurt to ask. I wouldn't necessarily tell them you daily drive it. Just tell them you drive it up to 8k miles a year and see what they say.

 

[Audie1]

Only get "Agreed Upon" insurance.....Stated Value will screw you, that's just where you are stating that it is worth X amount. This however is not what the insurance company will say that it is worth when you have a claim.

 

[regan j]

I have Grundy

20k for 331 a year stated value no mileage restrictions but u do have to have another car insured that u use as DD

 

[regan j]

correction

agreed on value -- not stated value -- sorry- could not find edit feature

 

[jcuadra]

when using grundy or Hagerty do you still have to be 25yrs old and have a garage? because im interested in looking for better insurance but im only 19 yrs old and right now i have AAA and im paying $150 a month. but i only drive the car max 3 times a month so i dont see the point in paying this much if im driving the car that often.

 

[GregInAtl]

20k for 331 a year stated value no mileage restrictions but u do have to have another car insured that u use as DD

That sounds similar to the recreational vehicle insurance you can get thru State Farm, and you can establish your own value when you create your policy w/ your agent. It has a mileage cap, and cant be a dd.

 

[DJ Red Barron]

when using grundy or Hagerty do you still have to be 25yrs old and have a garage? because im interested in looking for better insurance but im only 19 yrs old and right now i have AAA and im paying $150 a month. but i only drive the car max 3 times a month so i dont see the point in paying this much if im driving the car that often.

My rep with Hagerty said they aren't sticklers for the garage thing. As far as age, that I am not sure about.

That sounds similar to the recreational vehicle insurance you can get thru State Farm, and you can establish your own value when you create your policy w/ your agent. It has a mileage cap, and cant be a dd.

I have one of these policies with State Farm at the moment. I had my agent call claims and pose a theoretical question about a total loss situation. First, underwriting will decide how much they will cover regardless of the value stated. Second, they only cover what the car had in stock form. So any modifications, you're out of luck on. That part is fine for the purist cars. But for people like me with custom work, or even GNX clones, SF has an out. But the worst part is the "stated value" thing. Odds are 99% certain they won't pay you what they have as stated value on the car, but rather what their more-than-likely clueless claims/underwriting rep thinks it's worth.

I'm glad this was pointed out to me by a member here (the screen name escapes me at the moment, but thank you) before I had a potential claim situation. Hagerty will be my insurer very soon.

 

[asrnj77]

I also found out that Progressive has CPE (custom parts and equipment) coverage. You can add up to 5,000 coverage so maybe they say the Turbo T is worth 4.5k and then you add 5k for your custom equipment (aftermarket turbo, aircooler, cam ,etc) but you'll need pics and receipts in the event of a loss

 

[ngc414]

What are you guys doing about coverage on the Buicks? If your modified beauty cost you 13k and gets stolen is Geico going to give you 3.5k...yes...

Collectors insurance doesn't really work for me because I want this to be my daily driver. I drive maybe 7-8k a year but Collectors insurance usually requires another vehicle under a normal insurance company/policy and you might only be able to drive to/from shows and events.

Does anybody know of a company that does a Stated Value or Agreed Upon Value? I know that Geico does not.

You might need to do some reasearch. I am not aware of any companies that can do an agreed amount on a daily driver. Im not saying they are not out there. as stated before, Agreed is the only policy that will guarantee an amount. The only other alternative might be going with a stated amount like with state farm and crossing your fingers if you have a claim. A stated value policy would still be better than a standard ACV (actual cash value policy). Honestly the company has a large role to play in claims as well. Some companies are more fair/generous than otherswith claims reguardless of the policy type.

 

["Turbo-T"]

I have Hagerty on mine. But I'm thinking of switching over, I've heard some not-so-good things about them when it comes for claims.

Also when I insured my car May of last year they charged me more than if it were an 86 model....something to do with the car having to be a certain year...'86 was the cut off year. It might change this year, I don't know. But I had my old Chevelle insured for $5k more and paid $100 less a year to do it.

 

[aminga]

Grundy here. But I'll tell you daily driving a TR is not easy. Aside from the fact that they are easy to steal and hard to replace. There are several parts that most of the big box auto stores don't have a clue about getting. I daily drove mine until about 2000. In 1997 it sat for a week because none of the auto parts stores could get a Radiator hose.

 

[fast86gn]

I have American Collectors on my GN, agreed value 22K for less than $300 per year. But it has to garaged, age 25 or older and not your daily driver. Less than 3,000 miles per year on mileage.

 

[Casey Jensen]

I have state farm. Get a dealer appraisal and they go with that. I think your allowed 5,000 yearly. I Don't drive mine that much, but they have never checked in the last 6 yrs.

 

[Casey Jensen]

It also helps if your friends with the dealer who is appraising it.

 

[Sal Lubrano]

Another American collectors user here.

 

[GNBRETT]

What are you guys doing about coverage on the Buicks? If your modified beauty cost you 13k and gets stolen is Geico going to give you 3.5k...yes...

Collectors insurance doesn't really work for me because I want this to be my daily driver. I drive maybe 7-8k a year but Collectors insurance usually requires another vehicle under a normal insurance company/policy and you might only be able to drive to/from shows and events.

Does anybody know of a company that does a Stated Value or Agreed Upon Value? I know that Geico does not.

Geico is for those who can't get insurance because they are at high risk or cant drive without crashing into someone or something every other month. Every Mope in the city I work for has Geico because no one else will insure them. Geico's claim of 15 minutes could save you 15% is a bounch of BS. Their rates were over $400 more then my regular insurance company was.

I went with Insurance for Classic Cars, Antique Motorcycles, and Collectibles | American Collectors Insurance for my Turbo T. (When I owned it that is....)

I insured my car for $20k and it was around $300 for the year. They ask if you have a garage or something. I dont see the point in owning one if you don't but two each his own.

You have to pay for the whole policy up front for the year but at that price who cares.