Affordable Classic Insurance?

Haseeb

Well-Known Member
Messages
255
Reaction score
74
Location
Piscataway, NJ
I have come across the roadblock for my Bavaria that has been quite irritating. No one want's to insure it. I have been trying Hagerty, with the agreed value of it pretty low (about 4000 agreed value) but they denied me because I did not have a policy for my daily driver (I am with my parents insurance) despite me showing them that, they still denied me. Next I tried putting it in my parent name, with me listed as a *possible* driver, and we got denied again. I have tried every work-around with them and I still get denied. Perhaps I am naive/bitter, but its an incredible turn off for young people wanting to get into collector cars with these simply massive barriers of entry. I tried a couple of others too (Grundy) but that did not seem to work, and multiple insurers won't even look my way cause I am 20. Does anyone have any ideas? Because if nothing comes to mind then my time with this car is pretty much over...
 

autokunst

Well-Known Member
Site Donor $$
Messages
3,606
Reaction score
2,618
Location
Milwaukee, WI
Hello Haseeb,
Just a thought. The value you are placing the car at is not really at "classic car" levels. Which is to say, it seems like the insurance you are really trying to get is just "car insurance". To that, did you try to just add a car to your current policy? My wife and I have our car and home insurance combined with one company. When I bought my coupe (unrestored and not technically a "gem" just yet), I just added it to our policy as an additional car (a fifth car in my case - eek). We agreed upon a value which is reflective of its condition, but that was it - pretty painless. I just have to wonder if a "Hagerty" doesn't want to get involved in such small change (no offense intended). Their administrative fees might not even justify opening a policy for $4k for a single, one-off car account.
 

dang

Administrator
Site Donor
Messages
4,247
Reaction score
3,262
Location
Rocklin, CA
Welcome to the world of auto insurance. :mad: I was just denied by Ameriprise (Costco members) for insuring my 03 GMC pickup because the underwriter said it looked like a work truck. I have a rear window guard that protects the window and cab and they said it looks like a commercial truck. Then they asking if a German Auto Parts business was mine. Aaaah, yeah, 30 years ago I got a business name that I never followed through with. They didn't believe me. They can refuse you for any reason they deem reasonable, or unreasonable I guess.

I got a quote for my '69 2800 (sedan) a couple months ago for an insured value of $5k and it was no problem, but the first thing they ask is what you use for a daily. What about just getting liability on your parents policy?
 

autokunst

Well-Known Member
Site Donor $$
Messages
3,606
Reaction score
2,618
Location
Milwaukee, WI
It is also worth mentioning that none of the details of your insurance policy, company, or premium precludes you from calling your car a "classic" at the coffee shop. :cool:
 

CSteve

Well-Known Member
Site Donor $$
Messages
3,765
Reaction score
1,279
Location
Bucks County, PA
It is also worth mentioning that none of the details of your insurance policy, company, or premium precludes you from calling your car a "classic" at the coffee shop. :cool:
My daughter once worked for one of those "High Risk" insurance companies. American Independent. She lived in fear of being hit by, "one of her insureds." They sell mostly to drivers with a "rap sheet" for a driving record, plenty of "priors."

The ads run something like this. "Auto insurance for a dollar a day."

One of those companies might take you on.

Steve
 

JayWltrs

Well-Known Member
Site Donor $
Messages
954
Reaction score
534
Location
Oklahoma City
I have my regular cars insured with Liberty Mutual. When I first got my E9, they just added it to the others for a value I told them. If you've switched title to your parents, have you been rejected by their primary insurer who insures their cars and your daily driver? You might even shop your parents' bundle of auto insurance and include your car. You might actually save them some money and get your car insured. I do this every few years with all my insurance and always find savings.

A number of the large brand-name insurers have "classics" policies, but that's not really as important as getting it insured at this point. I wouldn't trust their adjusters like one of the specialty risk "classics" insurers, but once you get it insured with someone it will be easier to transfer over time.
 

Markos

Well-Known Member
Site Donor
Messages
13,369
Reaction score
7,502
Location
Seattle, WA
Mine is just another car on my normal policy. I have comprehensive turned on for the car but liability disabled. The granularity of turning liability back on is a monthly billing cycle. So if I turn it on to drive then I need to drive it needs to be for good reason.
 

autokunst

Well-Known Member
Site Donor $$
Messages
3,606
Reaction score
2,618
Location
Milwaukee, WI
Great point. Within our regular car insurance, I have two of our cars classified as "in storage" (the e9 and the M3), which reduces the premium a fair amount. But at any moment, I just need to call our agent and let him know I am taking one of the cars out of storage (I can even leave a voice mail). The full coverage is activated, and the semi-annual premium is adjusted/prorated. I believe the storage category still provides for some liability (if the car rolls out of the garage, down a hill, and takes out someone's mailbox - we're covered).
 

dang

Administrator
Site Donor
Messages
4,247
Reaction score
3,262
Location
Rocklin, CA
Mine is just another car on my normal policy. I have comprehensive turned on for the car but liability disabled. The granularity of turning liability back on is a monthly billing cycle. So if I turn it on to drive then I need to drive it needs to be for good reason.

In CA you can't have a registered vehicle without liability insurance. If you take the insurance off you get a notice from the DMV saying your registration will be suspended. You have to non-op a non insured vehicle.
 

autokunst

Well-Known Member
Site Donor $$
Messages
3,606
Reaction score
2,618
Location
Milwaukee, WI
In CA you can't have a registered vehicle without liability insurance. If you take the insurance off you get a notice from the DMV saying your registration will be suspended. You have to non-op a non insured vehicle.
I've heard of this. Is it also true that if one buys a car that was non-op for a period of time, the latent registration fees would be owed by the new owner before receiving the new registration?
 

HB Chris

Well-Known Member
Site Donor $$
Messages
19,418
Reaction score
8,757
Location
Huntington Beach, CA
I've heard of this. Is it also true that if one buys a car that was non-op for a period of time, the latent registration fees would be owed by the new owner before receiving the new registration?

Back fees are only due if the vehicle was not in non-op status with the DMV.
 

dang

Administrator
Site Donor
Messages
4,247
Reaction score
3,262
Location
Rocklin, CA
I've heard of this. Is it also true that if one buys a car that was non-op for a period of time, the latent registration fees would be owed by the new owner before receiving the new registration?

A non-op'd vehicle is safe from back fees. It's the vehicles that go out of registration that pile up big back fee penalties. Another scenario I see every week. Someone buys a car from a tow yard with a lien packet, they go to the DMV to register and there's $1200 back fees. They call us and sell the car for 25% of what they paid for it and they still don't have a car. Have I told you how much I dislike tow yards?
 

dang

Administrator
Site Donor
Messages
4,247
Reaction score
3,262
Location
Rocklin, CA
California can be a real buzz kill! :D

Yeah, but when you're feeling down just jump on a bullet train and blast from city to city! As long as it's a small central valley city. And not yet.

(oops, political content)
 

bluecoupe30!

Well-Known Member
Site Donor
Messages
2,136
Reaction score
1,283
Location
Delta, British Columbia, Canada
Haseeb, I think you need someone local "in the business" who can make this situation work for you. Whenever I contact a bank, insurer, or similar, I am frequently amazed at what has to happen to complete what I think is a simple request. But over the years, as we all build up relationships with key professionals, it gets easier to get someone to listen and understand what is needed, and they can work out the steps to set everything up. Perhaps your parents have a long term relationship with an insurer, or a friends family may be in the business, but I am sure with a little persistence, you will locate someone who can see what needs to be done. It will all work out, just a bunch of steps. :) Mike
 

JayWltrs

Well-Known Member
Site Donor $
Messages
954
Reaction score
534
Location
Oklahoma City
A non-op'd vehicle is safe from back fees. It's the vehicles that go out of registration that pile up big back fee penalties. Another scenario I see every week. Someone buys a car from a tow yard with a lien packet, they go to the DMV to register and there's $1200 back fees. They call us and sell the car for 25% of what they paid for it and they still don't have a car. Have I told you how much I dislike tow yards?

This seems so crazy. We don't even have inspections anymore. And I can take a car to a rural tag agent and get about anything done--or go to a rural county court and get it to sign all manner of things (always proper, mind you) with no questions & minimal notice to gov't. Lost title apps can be done in one hour or less in suburban/rural counties: pay filing fee, fill out form, bill of sale/affidavit (maybe), take it to any judge in courthouse for signature. Robert is your father's brother!
 

x_atlas0

Well-Known Member
Messages
1,796
Reaction score
137
Location
Clarkston, MI
I have used National Corvette Museum for a long time. I can't say if they are 'good', as I have never had to make a claim, but they are cheaper than other options I have found. I'm at ~400$ per year with a 40k agreed value.

http://ncminsurance.com/
 

Arde

Well-Known Member
Site Donor $
Site Donor $$
Messages
4,682
Reaction score
1,891
Location
Cupertino, CA
Register the car in your father's name and his insurance. If he will not do that for you, file for adoption...
 
Top