collector car insurance..got some quotes

[V]

well i have been interested in collector car insurance for a while so i finally got some quotes. It put in for a rate on my 3 vehicles that would qualify for coverage. Those vehicles are my '79 corvette, '85 iroc, and '01 SS. The vette would be under the "modified" class due to engine swap and updates, Iroc would be "stock" and the SS under the "exotic/limited production" class. All would be for FULL coverage with AGREED values, not book value crap. The Vette for $10k, iroc for $4k and SS for $40k. with all that said, my annual rate for the 3 vehicles would be $1,700. Not bad at all. obviously they all would have limited use requirements and must all be parked/stored in a lockable garage which isnt a problem. With my Denali as a daily driver i wouldnt have to worry about mileage limits either. The iroc alone would be like $200 for the year so that will be registered and insured soon, and the SS will go on once the new engine is complete, and the vette will go on once its even road worthy. and the best part..no emissions tests anymore.. since the Iroc and SS will be registered as collector vehicles and the vette will have QQ plates.

[LS1Hawk]

They agreed to $40K for your SS?!? Damn, I didn't think they would agree that high. I have collector's on my Firehawk and insured it for $28K. But then again, I only paid $19K for it. But if you got that much for your SS, maybe I'll up the ante when I have to make the next yearly payment. I only pay $500 a year on it right now.

I also have collector's registration. They record your milage, and make you drive around until your odometer turns over to make sure the miles change. Then you get your blue triangle and don't have to come back for two years.

[JL8Jeff]

That sounds pretty high for collectors insurance. My old 68 Camaro that had the LT1 in it was insured as modified for $15K and it was under $275 a year. Why would you have the 01 SS insured for $40K? Is there going to be an accident soon?

[V]

well thats what i just put down quick because of all the mods going into with the new motor, which is costing $15k alone. plus another 5-6k for new paint, 5k stereo, plus price of the car then and all other mods(just my rear facia is over $1k). If the agreed value is lowered, the rate will go down, but we started high and once i do put it on, then that 40k will be gone over. oh and i bought my ss brand new so i paid close to 30k for it(before finacing and taxes) so i dont want it totalled and then get a check for only like 18k.

[jims69camaro]

i would check the going rates instead of what you paid for it. you want to be able to replace it, right? better off finding out what market is for the car, then factor in your improvements.

[Koll]

What are the mileage restrictions?

[WayFast84]

Originally Posted by SmokingSS

well thats what i just put down quick because of all the mods going into with the new motor, which is costing $15k alone. plus another 5-6k for new paint, 5k stereo, plus price of the car then and all other mods(just my rear facia is over $1k). If the agreed value is lowered, the rate will go down, but we started high and once i do put it on, then that 40k will be gone over. oh and i bought my ss brand new so i paid close to 30k for it(before finacing and taxes) so i dont want it totalled and then get a check for only like 18k.

15k motor? Ls7??

[LS1Hawk]

I think the current book vaules are around mid to upper 20s for the F-bodies. However, I can never find an actual value for the Firehawk because most places like edmunds, kelly, or nada never list the Firehawk option, just Trans Am and WS6 package as the highest option. But the SS should be easy to find out because they made plenty of them.

Mileage restrictions for collector's insurance is usually 3,000 a year, and it's the same for collector's registration. With the insurance, you can get away with going over 3,000 a little. When I got my ins. they told me that they "encourage" no more than 3,000 a year, but obviously if you put 12k on the clock they're going to say something. Registration you obviously can't get around because they keep your mileage on record, so they'll know the next time you come in if you went over.

[Frosty]

A fully optioned(excluding any possible SLP add ons) '01 SS retail value is around $18K depending on mileage.

[V]

yeah book value for my SS is around $20k, but with collector car insurance they dont just pay whats its worth market value, they factor in what has been done and that value is agreed upon. i thought about an ls7, but chose to do a fully worked iron 6.0l stroker with and ATI setup. Then the trans will be completely reworked, all tubular front suspension, ford 9" rear, full brake upgrades. paint will be redone pewter with a metallic blue pearl over it with the stripes painted on. has true HID headlights, am/fm/cd/dvd in dash monitor and full system(to be redone again soon) plus the rear facia has the Export taillights and export rear bumper with rear fogs(something i have not seen in the US yet) With the base of 20k for the car and all those add-ons, its way up over 40k. Why would i insure it for any less? so someone hits me and i loose tens of thousands of dollars? id rather not. and as for mileage restrictions, hmmm, how many cars do i own, with my Denali as my daily driver i highly doubt i'll put 3k miles on 3 other cars, I'll probably take the SS out once a month or less. So mileage or the parking in agarage isnt an issue sinc ei'll have 5 indoor garage spaces available by the spring.

[Frosty]

Yeah I know, my comments were directed towards LS1Hawk.

Sounds like you're going all out on the car

[camaroracer1992]

what insurance company are you going through?

[V]

that was Hagerty

[camaroracer1992]

hagerty gave me all sorts of crap when i asked for a quote since i have a roll bar in it......

[LS1Hawk]

I have Hagerty as well, and have not had any problems with them so far.

[blown69rat]

OK, my turn...Sounds like you are a little high on the quote. I currently have my car insured for $50k (agreed value) with Grundy. Regular tags on the car, no mileage restrictions, does have to be secured, it's even insured when being trailered, etc. I only pay $355 per year!! If you have any questions, let me know.

[camaroracer1992]

when i checked grundy has year limitations, you can only get a car newer then 75 on theyre insurance policy providing that you have a 75 or earlier model already on an insurance policy

[Teds89IROC]

Thats awesome, I was looking into it but I'll be 21 this April, I think the youngest you can be is 25. I was going to have my dad put it under his name when he gets the collector car insurance for his Vette, but I dont want to get screwed if I get into an accident or whatever. Though its under his name now..I may just go ahead and do it..I got quotes for something like $300 a year.

~Ted

[V]

yeah i'll turn 26 in july so i just meet the age requirement, so that may have somethign to do with my rate, i dunno.

Camaroracer..so with grundy in order to insure my '01 SS, i'd need a camaro of '75 or earlier, or any car 75 or earlier? Does that year 75 change every year? like next year would it be 76? cuz if so, and it doesnt have to be the same model of car, i could wait to put my SS on it once the required year is 79, which my vette is.

[V]

i just checked Grundy.com, and this is copied right from their site:

"Agreed Value (not like standard insurance companies who depreciate your car's value).
No Model Year Limitation
Highest Liability Limits
Automatic Coverage for (30) days on newly acquired collector cars
Unlimited Mileage "

[V]

i just did the quick "get a quote online" option on grundys site
all the same 3 cars as before(79 vette, 85 iroc, '01 SS) all full coverage and i just put values at the same as before, 10k, 5k, and 40k respectively. and for a year its $800 only...hmmm i wonder what company i'm gonna choose.....
the vette was like $170 for the year, iroc was $70, and the SS was $560.

[camaroracer1992]

has to be a 75 model year or earlier (doenst have to bea camaro) the online thing is a joke it will let you get the quote but when you call its a different matter. i haev tried every thing, finally found one that will do it but i have to be 26

[BonzoHansen]

My Haggerty Coverage:
Liability Body - 100k per person / 300k per accident
$10,000 agreed value on the 77
annual premium $111

You just own a regular use vehicle, and they will not write limits higher than your regular car limits. I had to send them a copy of my dec page proving my 100/300 coverage.

I will look more later, but exclusions appear to be:
1. Maintained primarily for use in car club activities, exhibitions, parades, other functions of public interest or for a private collection , and;
2. Is used only in frequently for other purposes.

I see no mileage or other restrictions.

[V]

ok, well when im ready to put a car on collector insurance, i will call all the companys i can find, and get specific quotes. I appreciate everyones input and advice.

[Tru2Chevy]

Originally Posted by camaroracer1992

i haev tried every thing, finally found one that will do it but i have to be 26

That's what I found with my '87 too. Either the car was too young, or I was too young.

- Justin