CAJUN C4

What's the Best Insurance Company for Annual Low Mileage Driven cars.?

Say 2-3,000 Mi. per. Year?

Thanx

MY93TOY

Grundy
www.grundy.com

c4sailor

My State Farm guy just got my 87 classified as "antique/classic/whatever". Stated value of 15K with full coverage and limit of under 5K mi. per yr. Premium is going down from about 60/month when considered as a DD to about 250 per year! That's one new leather seat!!

Frizlefrak

I have Hagerty on my 84. $230 a year fully covered, agreed value, with roadside / towing coverage.

Stipulations; Car must be stored at night in a locked garage, cannot be left unattended except at club events, shows, etc. No mileage limitation. Owner must show evidence of owning a different car as a daily driver....ie insurance card, etc.

No complaints.

Muffin

American Collector or Sneed are two more.

Wayne88

I have American Collector Ins. I pay $175 per year, agreed value $10K, for my '88.

I never filed a claim, so I don't know how they pay out on claims.

Bob88vette

Thanks Sailor, I have SF too so I'm going to use your quote to see if my guy can do the same.

pmihaltian

I tried to get Hagerty Insurance a couple of years back for my Corvette and was not successful. I only put about 1000 miles a year on the car, it is garage kept and is not used for commuting or as a daily driver. They said that I had to have a seperate daily driver car for both me and my wife in addition to my Corvette. As I did not want to purchase a third just in case car, I had to forget about collector car insurance.

Has this collector car insurance requirement changed?

jakers

I just bought a policy through Grundy. It cost me $254 per year with a stated value of $16,000. I filled out the application and sent them 2 nice photos and certified that the car is stored in a garage. I do have a DD (02 Yukon) and so does the wife (08 Acura). I do in fact store the car in a locked garage. No tickets and 46 years old.

My State Farm policy was running me about $768.00 a year and I drive the car less than 2000 miles a year. The folks at Grundy are my heros right now. My car is a semi-restored 1994 coupe. When I called them I was certain they would turn me down or turn me away because my car is not really a classic yet, right? They took it! The insurance cards are in my car sitting in my garage.

floridamale

Thanks for the tip on Hagerty I called them today $324.00a year stated value policy great deal. $0.00 no deducible no mileage restriction. Cant beat it with a stick

4theboy

I assume you are referring to an Agreed Value policy. There is a big difference in specialty car insurance between Stated Value and Agreed Value. Most folks use the terms interchangeably until they have a claim against their Stated Value policy, then they realize they are not the same. The reason I assume is because I thought Hagerty only dealt with Agreed Value policies but I would double check to be sure.

pmihaltian

So what is the difference between Stated Value and Agreed Value? How are they different when it comes to claims?

silverja

I wrote this article a few years ago concerning this issue:

http://corvettebuyers.com/insurance_alternative1.html

My choice has been American Collectors who raised the annual driving mileage to 5,000 at no additional costs.

Best of luck.

pmihaltian

That clears it up for me. Thank you.

Can you tell me if all Collector Car insurers require a seperate daily driver car for both me and my wife in addition to my Corvette? In other words, must I have three (3) cars to qualify?

floridamale

That might be the case I'll check it out. Thanks

jakers

Thanks! I have to call Grundy tomorrow and find out what the heck I have? Thanks for the info.

Frizlefrak

In my case, the wife has a daily driver and I have a company car that includes unlimited personal use as well. I sent them documentation to that effect. But even without the company ride, I've got so damn many cars on my State Farm policy it wouldn't have been an issue. In your case, buying and insuring another daily driver would more than negate any savings from using Hagerty for the Vette.

They want to ensure that you aren't insuring it as a classic and driving it daily....which of course would defeat the whole purpose of collector car insurance.

Mr. Dude

I've got JC Taylor on mine. $260 a year with no deductable. Unlimited miles to car shows, cruises and related events.

SunCr

That sounds like Liability only - you might want to check what you've bought, there may be no coverage for the car.

silverja

I am not certain on this, but believe they may require a seperate vehicle for each driver over a certain age (21). My advice is to contact each company and inquire. Some may allow just one addtional vehicle versus two. Your Corvettte cannot be used for work related activities. Many insurance companies are looking for new clients and may be flexible. One I know for sure that will not is Grundy.

Best of luck.