Insurance question?

[westcoastkevin]

Hi,
Granted, mine is still a pile of parts. I have been thinking about insurance as I will be renewing at the end of June.

Do you keep classic car insurance on your Series Rover or just have it on your regular policy?

This is my first 60 year old vehicle so thought I would ask.
Kevin

[albersj51]

I had regular insurance on mine. Then, as I spoke with my agent and mentioned the rebuild, she checked out coverage for while it was apart. Turns out Hagerty offers such coverage and for a lot less than I was paying. Needless to say, I switch the Hagerty.

[knac1234]

Kevin,

There are a lot of classic insurance companies. I chose American Collectors Insurance.

They have different mileage tiers, 2500 and 5000 a year, all requiring pleasure driving and no regular work/commuter use.

They also have a 7500 mile tier, which allows for occasional use for driving it to work, etc.... My MGs and Hillman, only driven in fair weather, have the lower tiers.....the Rover has the 7500 mile tier allowing the work use :thumb-up:

There are a few other restrictions, one being you must have at least one "normal" vehicle for each licensed driver in the household.

Julian

[redmondrover]

We have both Rovers (1977 109 and 1959 88) insured with Chubb. Both are stated value policies and do not have any mileage restriction although, like knac1234's policy, they do require that you have at least one "normal" vehicle for each licensed driver in the household. The policy for the 109 is less than $300 per year and, get this, when I added the 88, the bill went up by $35 for the year...

[yorker]

good thread:
http://gunsandrovers.yuku.com/reply/25546/All-of-You-Massachusetts-People

[westcoastkevin]

Interesting, thanks. I never even considered restoration insurance.

[albersj51]

My hagerty policy has it so that while its apart its covered as are tools and towing by someone who "specializes" in classic car towing.

[RainyPDX]

Hi all, I'm new... so, excuse me if I should have started a new post... but, this thread seems to already have some info (and the attention of some of you) :-)

I tried to add my new 69 IIa to my Hagerty policy for my other oil leaker... And, poof, I checked the "offroad" and "snow" checkboxes, and got declined. :nono:

Also tried American Collectables. They were nice enough to tell me that no "collector insurance" carrier would supply a policy if I plan to do that kind of stuff.

How is everyone taking care of insurance? I think I should maybe hear what others of you are doing before I call my "normal car" insurance company....

Thanks for any help!

-eric

[Ross72SIII]

I went to my regular insurance company...Classic car with regular use. Gets me a little bit of a price break, and lets me drive it as much as I want with as much insurance as I want.

[crankin]

Hagerty. $120 a year and I can drive it as much as I want.

[jac04]

Hagerty. $120 a year and I can drive it as much as I want.
Just be aware of what Eric stated above. I have agreed value Hagerty policies on my Lightweight and 68 Camaro. The Camaro has an "active restoration" policy that covers the vehicle, parts & transportation.

The policies have no mileage limits, BUT you are not allowed to commute or engage in any type of off-road activity. Basically, they are able to give you reasonable rates because they are getting you to agree to pamper your vehicle, which most classic car owners do anyway. Land Rover people tend to be a little different than your average classic car owner.

[Kiloengineer]

Hagerty would not quote my Land Rover because it is not kept in a garage.

[crankin]

Hagerty would not quote my Land Rover because it is not kept in a garage.

White lie...

[Kiloengineer]

yeah, I was not too smart there....

[SafeAirOne]

yeah, I was not too smart there....


Not necessarily. Presuming that everyone uses their rover the way I do (daily driver, occasional off-road), there are more than a few people that contributed to this post who may be in for big surprises when their collector car insurance doesn't pay off after an accident, because they are clearly using their vehicles for non-covered/excluded purposes.

A few of us here may use our rovers in the way that a collectors insurance policy intends us to use them, but I dare say that most of us don't and ought to just get a regular old agreed-value (not stated value) policy.

Why risk not being covered by your collector's insurance because you T-boned a Kia when you were entering the roadway from a field 150 miles from your house? The insurance company will gladly accept your premiums based on the lies you told them, but they won't pay a thing if you were not operating within the limitations of your policy.

[jac04]

A few of us here may use our rovers in the way that a collectors insurance policy intends us to use them, but I dare say that most of us don't and ought to just get a regular old agreed-value (not stated value) policy.


Here's a good write-up on the difference:
http://www.lelandwest.com/stated-value-vs-agreed-value-classic-car-insurance.cfm

[Ross72SIII]

Why risk not being covered by your collector's insurance because you T-boned a Kia when you were entering the roadway from a field 150 miles from your house? The insurance company will gladly accept your premiums based on the lies you told them, but they won't pay a thing if you were not operating within the limitations of your policy.

I checked out all the options and just went with a regular policy vs. some wacky business. I probably pay $500 more a year, but it boggles my mind why someone would set themselves up for that kind of trouble. Everyone is sue happy these days...Even if its completely the other drunk-high-uninsured-idiots fault they will still lawyer up and try to turn it into your fault! Why give them ammunition?