Insurance on an '82 and older
11-06-2006, 02:04 PM
#1
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St. Jude Donor '06
Insurance on an '82 and older
To my surprise, my beloved insurance company does not normally provide anything beyond liabilty on an older vehicle. After refurbishing, they will accept an appraisal and insure that amount. Is this normal procedure to get insurance?
Where are you guys getting insurance on your older Vettes?
Thanks in advance.
tt
Where are you guys getting insurance on your older Vettes?
Thanks in advance.
tt
11-06-2006, 02:14 PM
#2
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11-06-2006, 02:46 PM
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Yeah it is actually normal policy for SOME insurance companies to do that. Mercury wanted pictures and an agreed amount before they'd insure my '81. They insurance agent took pictures and asked how much I wanted to insure it for, I said $7000 at the time and Mercury accepted that much and the highest deductibles they let me have were $250. When I found out it cost less than 1/2 as much to insure my vette with Mercury, over my prior insurance, I almost poo'd a little in my pants. 
Being that I only paid $5000 for it I was happy to insure it for $7000. I'll probably have it re-appraised by their appraisers sometime soon so I can up the value on it.
Being that I only paid $5000 for it I was happy to insure it for $7000. I'll probably have it re-appraised by their appraisers sometime soon so I can up the value on it.
11-06-2006, 03:53 PM
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Do you have to jump through any hoops to have Hagarty insure the car, i.e. appraisals or inspections?
11-06-2006, 04:13 PM
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Only one I know of. You have to pay the whole premium up front! 
However, the premium on their policies is usually pretty cheap for a year. For me it'd be like ~$250 for stock and ~$500, IIRC, for modified. So they're not too bad.
However, the premium on their policies is usually pretty cheap for a year. For me it'd be like ~$250 for stock and ~$500, IIRC, for modified. So they're not too bad.
11-06-2006, 04:16 PM
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i ran into a lot of problems with this. I finally ended up getting mine insured through statefarm for very cheap with a multicar policy. no restrictions, no conditions, and they appraise its value at time of claim. hopefully you either get the true value or you save enough to negate that over the years. I am holding on to all of my reciepts 
. I live in DC and thus do not have a garage, this was a condition for almost every antique company i came accross.
. I live in DC and thus do not have a garage, this was a condition for almost every antique company i came accross.
11-06-2006, 04:18 PM
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State Farm for me, but they told me they usually did not insure sports cars. I told them I had been insured with them since the age of 16, had all my family vehicles and my home owner's policy with them, and that I expected better. They ageed and insured my three at the time (two now).
11-06-2006, 04:22 PM
#9
Melting Slicks
I just got a quote for my '80 from Hagerty. Full coverage, 0 deductable, agreed to value that can change as I do more to the car, for $305 per year. Citizens was charging me $500 every six months (that's how long I drove it anyway) and that was with a $500 deductible.
11-06-2006, 05:08 PM
#12
While we are on the subject of insurance
What happens if the car gets written off by the insurer - can you get the car back and restore it yourself , or do you just get the cash and have to go shopping again?
I have mine with progressive , they want me to get it appraisd before they will put an agreed value on it - I have an 82 CE , not sure what to do
What happens if the car gets written off by the insurer - can you get the car back and restore it yourself , or do you just get the cash and have to go shopping again?
I have mine with progressive , they want me to get it appraisd before they will put an agreed value on it - I have an 82 CE , not sure what to do
11-06-2006, 05:13 PM
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Which companies limit the use of driving the vehicle to work? That is the whole reason mine is insured with the rest of my cars by Farmers. I've even got a secured parking garage at work. The only time my car is outdoors is when it's actually moving.
11-06-2006, 05:50 PM
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Originally Posted by vetteonr
I just got a quote for my '80 from Hagerty. Full coverage, 0 deductable, agreed to value that can change as I do more to the car, for $305 per year. Citizens was charging me $500 every six months (that's how long I drove it anyway) and that was with a $500 deductible.
make sure you read the terms! Hagerty if I remember right has both a mileage restriction and the car must be garaged.
11-06-2006, 06:49 PM
#17
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Originally Posted by karioth
make sure you read the terms! Hagerty if I remember right has both a mileage restriction and the car must be garaged.
I pay Hagerty for a YEARS coverage at 1/2 of what I paid Allstate for much less coverage and 6 month policy... That is a no brainer.. Especially for all you guys out there that have just posted about your latest accident where the insurance will only pay $1500 for your TOTALED 1980 Chevrolet! Corvette is more than just a 1980 Chevrolet!
11-06-2006, 06:57 PM
#18
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Originally Posted by 3rd_Vette
NO MILEAGE, Just the car needs to be garaged. Now, I ask, who owns a Vette and dosnt park it in the garage???
I pay Hagerty for a YEARS coverage at 1/2 of what I paid Allstate for much less coverage and 6 month policy... That is a no brainer..
I pay Hagerty for a YEARS coverage at 1/2 of what I paid Allstate for much less coverage and 6 month policy... That is a no brainer..
BTW, shop around... I pay $200/6 months for full coverage and I can drive whenever and wherever I want and I'm in a metropolitan area.
11-06-2006, 07:43 PM
#19
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Originally Posted by Easy Mike
State Farm for me, but they told me they usually did not insure sports cars. I told them I had been insured with them since the age of 16, had all my family vehicles and my home owner's policy with them, and that I expected better. They ageed and insured my three at the time (two now).
