Insurance-

m5bb

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Just checking some different companies for rates on insurance.
Two cars, none are DD and stored in climate controlled garage.

1988 M5.
1972 3.0CS

This is from Hea**** Classic Car Insurance.


This is a quote from their email.

Unfortunately at this time both of your vehicles do not meet our program requirements as far as the collectible status is concerned. Please feel free to check back at a later date.

This is funny. The Forum won't let me type the name of a bird as in pea****.
Got it?

What are others doing?

Gary
 
Both my '73 2002tii and '74 3.0 csi are insured with Hagerty since they are not driven daily and are stored in locked garage. Both of mine are agreed value policies.
 
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I have mine thru AAA. They didn't even skip a beat when the wife/CFO spelled it out for them. Apparently I'm fully covered, I think based on NADA values. The CFO didn't flinch at the rates (I don't know what they are) so they must not be out of line with any other vehicle we have. It's a daily driver so I can't use classic status
 
Be sure you have Agreed Value for your pride and joy as they will otherwise use the NADA values and you may be underinsured.
 
I highly recommend Chubb. I've insured several CSLs and a CSi with them and gotten good rates and excellent service.
 
Be sure you have Agreed Value for your pride and joy as they will otherwise use the NADA values and you may be underinsured.


Yes, I currently have that with my current carrier.
I talked to State Farm but they are weird.
They treat a classic like a car that is not in service like you might do if in the military. You would have to call and tell them you were going to drive the car. Can you believe that?
 
Gary,

i have mine with Hagerty's. stipulated value - up to 4k mi per year. car kept in a garage at home. very easy to do.

i have discussed this scenario with a claims adjuster friend of mine - who works for SF. he says that the big companies are definitely not the way to go for classic cars - even with a stipulated value policy.

scott
 
Like everyone else says, agreed value policy is the only way to go. Both my 3.0CS and the tii are with Hagerty. My policy has no annual mileage limit. They just can't be used as daily drivers or grocery-getters and they have to be stored in a garage.

BTW, last year Hagerty contacted me and told me that my tii was underinsured based on recent auction/sales data. While I realize they have a vested interest in getting me to increase my premium, I thought that was the type of proactive service I want from an insurer.
 
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