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Classic Cars as daily drivers

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  • andre1969andre1969 Posts: 21,849
    Rorr, try Hagerty Insurance (http://www.hagerty.com) I have my DeSoto and Catalina with them. As soon as I get my garage finished, I'll probably put my LeMans on with them as well.

    They're really cheap, partly because they only hit you ONCE for liability, no matter how many cars you own. Then, they only charge something like $6.00 per $1000 of agreed upon value.

    I'd have to dig up the bill to look at it, but I think the liability portion is only around $65 for the year. Then I have my DeSoto insured for $7,000, which would add $42 to the bill, and the Catalina for $8,000, which would add another $48. So, for like $155 a year, I have full coverage on both cars.

    I can't remember if they have a mileage limit or not. They've never asked me for a statement though, and I've been with 'em since around 1999. As for the agreed-upon value, you can always choose to up it if you feel your car has appreciated in value. And they're not really picky about how you drive your car, as long as you do have a daily driver with regular insurance. I think the thing you really have to worry about, if you have historic tags, is that if a cop happens to see you driving to work and passing the same spot every single day, he might get suspicious and pull you over. But that's more an issue with Johnny Law, and not the insurer.

    Oh, and even though I don't think my insurer has a problem with mileage, I don't think I've come anywhere near 2500 miles per year. I might have when I first got my '67 Catalina, and drove it all over the place. It was the first, and only convertible I've ever had. But lately I almost have to make an effort to put any real miles on it. In fact, I remember filling the gas tank around September 2004, and that lasted me until maybe July of '05! :surprise: I've had the car for 12 years as of late April, but have only put around 11,000 miles on it. I've had my DeSoto for about 15 1/2 years, and I doubt if I've put more than 4,000 miles on it. It's hard to tell though, because I've only had the odometer working for maybe 2 months out of that time. :blush:

    As for other old cars, well I've had my '79 NYer since October 2001, and have put maybe 6,000 miles on it. I've had my '76 LeMans since last April, and have put around 1200 miles on it, INCLUDING the 500 mile trip back from Ohio, where I bought it!

    Now I put around 85,000 miles on my '68 Dart over the years, but that thing was my daily driver from around April 1992 until May 1997, when I mainly started driving a '79 Newport. And in the interim, I had an '82 Cutlass that logged about 12,000 miles, which gave the Dart time to rest, and get stripped down and repainted.
  • explorerx4explorerx4 Central CTPosts: 9,614
    i have a '91 mustang with under 31k miles on it. under 2500 a year isn't that bad. texas has warmer weather than new england. i don't even think about putting it back on the road until the sand is swept up. if i think it is going to rain, i don't drive it. did miscalculate a couple of times. once i hit my annual limit i put the cover on it and drop coverage. i don't try to stretch the calendar.
    i do get pangs of jealousy every spring when i see the other fair waether vehicles back out, but i don't compromise on the roads being clean.
    ok, my oldest has their permit, and we snuck it out around the block last weekend when mom wasn't home. :shades:
  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,413
    I don't think they would insure a car that new.

    AGREED VALUE: Keep in mind that if you submit a value that is really too high for the car, the insurance company will ask you to have a professional appraisal...if they are uncomfortable with your assessment of your own car's value.....this is of course understandable, as they are not going to pay $50,000 for a 1975 Oldsmobile.

    MODERATOR

  • andre1969andre1969 Posts: 21,849
    Explorer, don't you have to turn in your tags if you drop your insurance coverage? We do here in MD, otherwise they start slapping you with big fines. Seems like it would be a big hassle to turn in your tags and cancel the insurance in the winter and then go back and get new tags and reinstate the insurance come springtime.
  • rorrrorr Posts: 3,630
    shifty - I'll check with the local Mustang club to see about having it appraised. I'll want to join it anyway and I'm sure the members would have some good info about insurance.

    explorerx4 - you ain't kiddin' about the weather. It's been gorgeous the last several days (I couldn't believe the number of convertibles I saw out and about last weekend; particularly around the lake). That was one reason I was concerned about the 2500 mile limitation.

    Of course, with the typical Texas summer (and no AC in the car), the prime driving times may be limited to just a few weeks a year...... :surprise:

    andre - that was good news about the cost w/ Hagerty. I had no idea it could be that reasonable.
  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,413
    classic car insurance is a GREAT deal...if you qualify and stick to the rules...

    MODERATOR

  • rorrrorr Posts: 3,630
    "...if you qualify and stick to the rules..."

    I'm guessing they won't cover 'incidents' while open-tracking the car..... :surprise:
  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,413
    nope...you pay that bill!!

    MODERATOR

  • fintailfintail Posts: 33,509
    I need to get that for the fintail. I did an online quote with a value of 5K, and they said $99. That's not bad. Right now I have it on a "storage policy" or something to that effect, and the people at the agency said I could just call them when I drive it (every 2-3 weeks) and they wouldn't charge me more. But I always forget.
  • andre1969andre1969 Posts: 21,849
    I have my '76 LeMans and '79 NYer on my regular insurance policy, with liability-only. Last year each car added $400 to the policy. This time though, I'm in the 35-39 age bracket, so my rate went down to where each of those cars only adds $293 annually to the policy.

    But as soon as I add the LeMans to my antique policy, and, say, insure it for $4000 (I only paid $3K for it), then it would drop $293 off my regular policy, add $24 to the other, for a net savings $269.

    I thought about switching my NYer over as well, but I don't know if they'd take it. It used to be that anything 25 years and older was a shoo-in, but the 70's and 80's sure messed that up! :mad:
  • rorrrorr Posts: 3,630
    "...but the 70's and 80's sure messed that up!"

    LOL! Automotively, ain't that the truth.....
  • explorerx4explorerx4 Central CTPosts: 9,614
    i don't drop all the insurance. i keep fire/theft, drop liability. funny thing is, my insurance company screwed up and reported to motor vehicles that i DID drop all coverage. took a phone call to my agent and a letter from the insurance carrier and myself to get it straightened out. the agent said i was far from the first one to call.
  • explorerx4explorerx4 Central CTPosts: 9,614
    someone told me i would have to get a fleet policy if i bought another(+1) car. :confuse:
  • andre1969andre1969 Posts: 21,849
    is "fleet" insurance? A few years back, there was a guy who lived behind my grandparents house who worked on old cars, always had a bunch of parts cars around, and had a few classics of his own. I remember the term "fleet" insurance coming up as to how he could afford it.

    Is it just another word for an insurance policy where one driver has a lot of cars on it? Essentially like what I have? Or is there something more to it?
  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,413
    sounds like geezer nonsense to me....

    Sure, if you have a collection of cars, the insurance company gives you a break sometimes...

    MODERATOR

  • Discount for buying in bulk?
  • bencar1bencar1 Posts: 3
    My personal experience was, that trying to use a 'Classic Car' as a 'Daily Driver' sounds like fun, until you've done it. Between the idiots on the road, and the wear and tear, plus the difficulty you can sometimes encounter in getting a repair part when you need it a.s.a.p., it becomes more of a headache, than a lot of fun. I enjoy my cars more now, since I don't drive them every day, then when I tried doing that with my first classic car. :) image
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  • isellhondasisellhondas Issaquah WashingtonPosts: 17,603
    I would worry too much. If some idiot were to run into that 1960 Plymouth and wreck the grille and fromt fenders, they would be near impossible to find replacements.

    And, the shops don't want to work on old cars.
  • I just got a quote for FULL coverage on my 1970 Coup Deville convertible with up to $15,000.00 in repairs for UNDER $190.00 (USD) a year for this car!

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  • Mr_ShiftrightMr_Shiftright CaliforniaPosts: 44,413
    Specialty car insurers are pretty cheap as long as you follow their restrictions on mileage and storage. Also, it can't be your only car registered in your name. You probably need an appraisal as well. And if you have an accident, it had better not be 500 miles from home while camping, as you are supposed to restrict your use to daily exercise and special events.

    MODERATOR

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