Insurance

[TURBOPOWERED68]

I have my GN insured for $18k by State Farm for $325/yr and a 5k /yr mileage limit. That's full coverage including towing just like on a new car.

does your policy have any restrictions?

 

[GullsGN]

I have my GN insured for $18k by State Farm for $325/yr and a 5k /yr mileage limit. That's full coverage including towing just like on a new car.

325 BUCKS!!! That can't possibly be in Mass. Please tell me that you are in MASS!

 

[GNsnake]

I'm in Jacksonville, Florida. Restrictions are 5k a year and of course none of the insurers want you to race the car.

 

[TURBOPOWERED68]

I have my GN insured for $18k by State Farm for $325/yr and a 5k /yr mileage limit. That's full coverage including towing just like on a new car.

I called state farm today and the quick not too many details quote was for$220.00 with NO restrictions.
On Monday I’ll get an accurate Quote
I can’t wait to get this over with.

 

["Turbo-T"]

How is it you are paying $485 a year thru Hagerty??? How much do you have your car insured for?

FWIW I had my 71 Chevelle insured thru them at $20,000 (car was worth maybe half of that at the time) and my yearly payment was only $275.

 

[DIAZ 87]

i have Rally insurance which i pay $340 a year. also they are local for me.

 

[TURBOELKY]

I called my regular Ins. company they said that they can give me full cover. So I asked them what they would use as a value guide for my car and they said "we use N.A.D.A and other factors" and naturally I asked "what are the other factors?" and I couldn't get a straight answer to the question. She kept on saying that the N.A.D.A would be a close guide along with other factors I then asked again “what are the other factors?

The bottom line is that she couldn't or didn't want to tell me what the other factors are and just insisted that N.A.D.A would be a close guide to the value.
So I am still desperately shopping for INS for my car.

The part that gets me is that with so many classics and hot rods on road and so little responses on this topic.
Is it just me that wants to drive my car and the rest of the world has garage furniture?
Or
Are they just chancing it with Grundy’s and Hagerty’s very restrictive coverage?

Today I am going to call my Ins. company again and see if I get another agent that might have specific answers to my questions

BTW the quote was $1200.00 a year.

I am insured through allstate. I pay $97 a month for "full coverage". no limit on mileage since I drive it. I told them it was turbocharged and all, and I drive it like I stole it

how are those haggerty polocies? is it just for storage or soemthing?? sounds CHEAP!

 

[Pitbozz]

There is another insurance thread, so I copied my reply from it.

About using conventional companies:
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.