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M&M CUSTOM 03-25-2004 06:50 PM

Collector Car Insurance.
I just received a quote from several collector car insurance companies and have only had ONE stand out and give me "what I want" and more.

The best part is they are quoting a price that is only a couple dollars more than the liability I have on it now.

The only problem with this liability coverage I have on it at the moment is, I CANNOT drive the car as it is currently signed off from driving privileges until next month, at which point the cost of this liability coverage will DOUBLE.

With the quote I received I "could" drive it year 'round as long as I don't go over the agreed mileage limit (no problem), and I could take it out whenever the weather cooperated.

Has anyone else had a collector car insurance company that seemed to impress them like this one did me? And what insurance companies are you other rodders pleased with for your classics and antiques?

Centerline 03-26-2004 05:27 AM

I use Hagarty exclusively. Don't have a mileage limit, can drive it whenever I want (as long as I don't use it as daily transportation to work) and they have agreed value coverage which is a big plus. When I insure a vehicle I want to know that if it's destroyed, damaged beyond repair, or stolen that I will receive payment for the actual value of the vehicle and not some pro-rated depreciated amount.


EBlack36 03-26-2004 06:04 AM

I use American National Insurance Chrome policy. I do have a mileage limit but it is 7500 miles which I only came close to once, but they have never checked it. it cut my insurance close in half or more.

cboy 03-26-2004 10:07 AM

In an attempt to compare the insurance providers on a somewhat equalized (apples and apples) basis the following comparison might be helpful. The data is from their website or in some instances I did follow up correspondence to clarify definitions etc.

All quotes are for the same base coverage unless noted otherwise. These are annual premiums.

Car type - modified street rod
Value - $50,000
Deductible - $250 unless noted
Liability coverage $300,000 (the max in most cases)
Medical Payments - yes
Towing - max $100

I have arranged the companies from lowest premium to highest premium - but pay special attention to the "Limits" section for each carrier. Clearly, all insurance is not the same - some have very restrictive use limits, some are very liberal.

1) Grundy
Premium - $308
Deductible - $0.00
Limitations :

No mileage limits
Unlimited use in collector activities, exhibits and parades. Show, hobby, and pleasure purposes only. No racing, rally use, backup for daily transportation, to/from work, or errands.

2) Midwest Classics
Premium - $462

3,000 miles (5,000 miles available for additional $). No general transportation use, no work related use, no race related use.

3) Sneed
Premium - $520

No mileage limits, no race usage, no to/from work. All other uses allowed.

4) AON Collector Car Ins.
Premium - $582

No mileage limits, no daily use, no business use, no racing related use.

5) Classic Automobile Ins.
Premium - $628

5,000 miles. Can NOT be used for back up transportation, errands including grocery runs, shopping centers, to/from work, to/from school, business or commercial activities, towing, hauling, off road use or racing related use.

6) Great American

See Classic Automobile above - same company and coverage

7) American Hobbyist
Premium - $ 642
Deductible -$500

No mileage limit. Hobby, exhibition or pleasure use only. Pleasure use specifically does NOT include trips to shopping or mall, movies, groceries, restaurants or church. Pleasure use defined as "short trip to keep the engine going." No everyday driving.

8) Tri State Collector Car
Premium - $738

Only available in 12 midwestern states. 2,500 mile limit (can get special use rates for additional premium). Pleasure driving only - doe NOT include general transportation such as running errands, to/from work, shopping, malls, golf courses or any uses "which require leaving the vehicle unattended."

9) Hagerty
Premium - $762
Deductible - $0.00


No specific mileage limit. Must be used on a limited basis "consistent with the operation of something valuable such as club functions, exhibitions, organized meets, tours, and limited pleasure driving". No pro-street modifications such as roll cages, wheelie castors, nitrous systems etc. No business or commercial use, No regular use or uses associated with a daily driver.

10) American National
Premium - $850*

*Note: This is the quote for "traditional" coverage and is not the "Chrome" coverage mentioned by EBlack36. I could not find any info on the Chrome coverage on their website. I'll add specifics on Chrome coverage if someone can get it.

11) American Collectors
Premium - $1,015

2,500 miles. No everyday driving

12) Voyage

No quote service or information available without calling their 800 number.

13) Condon & Shelly

No quote service or information available without calling their 800 number.

Hope this helps those who might be searching for the appropriate coverage/carrier.


BT74 03-26-2004 03:09 PM

I have Haggerty on my 74 vette. $12,500 agreed upon value,full coverage year round=$158. I aint complaining! 03-26-2004 03:52 PM

I may be crazy but I have my Willys with State Farm along with all my grocery getters and it dosen't cost any more than the others, less than the newest ones (several kids on my account too!). Limitations are 5,000mi/year (no problem), and can only drive to and from work and to rod shows (what else is there?!).

cboy 03-26-2004 04:37 PM


Ya, I saw one of your prior posts indicating you had State Farm on your rod so I had tried to include SF in my my survey. Unfortunately they don't have anything on their website regarding premiums for "agreed value" coverage. Also, from what I understand, one has to have ALL of their cars on SF to get the agreed value - so it made it a little different from the other companies - that's why I didn't include it. (Didn't leave you out on purpose!!!!!!!!!)


wheel-7 03-26-2004 06:09 PM

I have AON on my car and to date they were the cheapest with the most coverage I could find.
Ive had State Farm since 1971, and they would not insure my " "modified " car. I think coverage may vary state to state and even agent to agent.

302 Z28 03-26-2004 09:04 PM

Hagerty, because they were the only one of a bunch that I checked with that would insure a car under construction.


wally 03-27-2004 10:18 AM

Ya know I drive less than 500 mile a year on my street rod and some years I don't even start it. My point I guess is that the prices someone has shown are tooo high. Why can't we buy insurance say for the summer or only driving to shows and an ocassional cruse? I had one quote for $279...I think it was from my State Farm guy. I thought I would sign up for the six months of warm wheather and forget the other six. Since I built the thing myself almost any damage I can fix so I am not interested in the 50K value costs. Just plain collision and liability meeting state requirements is all I want. Any comments?

73G/A4-SPD 03-27-2004 11:24 AM

I use Hagarty

I pay 120 a year for 2 cars on my policy

Here's why I went with them.....

My uncle has a 70 1/2 Camaro. He put a new motor in it, and it caused a fire when he was breaking it in.

It didn't spread past the firewall, but it destroyed everything under the hood. Well my uncle is in sales, but he has a mechanic's liscence too. Hagarty payed for 100% of the cost to fix everything. Heres the kicker.....They payed my uncle 55 dollars and hour to fix his own car since he is certified and just did it for less than it WOULD have cost to take it somewhere.

You can't beat that :)

cboy 03-27-2004 12:02 PM


Originally posted by wally
Ya know I drive less than 500 mile a year on my street rod and some years I don't even start it. My point I guess is that the prices someone has shown are tooo high. Why can't we buy insurance say for the summer or only driving to shows and an ocassional cruse?

I think you would be a perfect candidate for an outfit like Grundy. You might want to check out their website and get an online quote. I am certain it would be well under that state farm quote. They have some restrictions on use but you appear to fit their profile very well - and their cost per dollar value on your car is the lowest of the ones I looked at.

The problem with "seasonal" coverage for most guys is damage that might be done if you have a fire or some other disaster in you garage. Your homeowners does not cover this - only an auto policy.

wally 03-27-2004 03:07 PM

Just contacted Hargarty
they want $682 for two cars; bit higher than my State Farm quote...since I am in no real hurry I will keep shopping. My cars are stored outside so 'in the gurage damage' is not applicable but might apply to other cars I have in there. Thaniks for your suggestions...

Grundy seems not 'on line' today will try later

Grundy seems not 'on line' today will try later

cboy 03-27-2004 06:30 PM


Originally posted by wally
My cars are stored outside so 'in the gurage damage' is not applicable


This might be a problem, most of the carriers require that cars be kept in lockable garages. So be sure to check that detail on whatever policy you get.

M&M CUSTOM 03-27-2004 10:30 PM

I too, have State Farm as my auto, home, and business insurer.
I checked with a few of the collector car insurers, and then took their quotes to my agent.

He was able to beat every other one, with only ONE provision.

I will need to get the car appraised for the agreed value dollar amount.

For the same information I used with all the others, he was able to nearly cut the lowest one in HALF.

The Malibu is scheduled to come off winter suspension April 1, so I have until then to get an appraisal.

I will follow up here on what else I come up with or find.

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