collector insurance.

[m78]

I just called American Collectors Insurance [ americancollectors.com ] to find out what they could do for me, ( they sent me a sales letter ).
I told them my truck sits in the garage with barely 300 miles in 4 years. That I drive it to shows, but I don't want to be limited to that and not be able to pick up a couch or something if I needed to.
They told me I wouldn't be able to pick up a couch.
So I said thank you, bye.

 

[taxreliever]

I just called American Collectors Insurance [ americancollectors.com ] to find out what they could do for me, ( they sent me a sales letter ).
I told them my truck sits in the garage with barely 300 miles in 4 years. That I drive it to shows, but I don't want to be limited to that and not be able to pick up a couch or something if I needed to.
They told me I wouldn't be able to pick up a couch.
So I said thank you, bye.

Hahahahahaha.....so, can you?

I use Grundy's.

 

[bucks77ford]

How is Grundy? I've been looking at them too, but that's as far as I've gotten. I like that they understand about unlimited mileage. With any classic vehicle insurance, they don't want people "USING" the trucks, but I figure I'd rather take my chances with the classic car insurance than the basic insurance. I'd still use my truck to haul some things.

 

[DNFXDLI]

I use my standard insurance and get the insured amount lifted.

 

[LEB Ben]

I have no issues with the other little clauses, I figue I have enough other vehicles to accomplish those tasks. And if for some reason I absolutely HAD to do use Red, I'd just take my chances and know if anything happened I'd be SOL.

 

[bucks77ford]

I use my standard insurance and get the insured amount lifted.

State Farm told me that insurers have a hard time giving out even appraisal amounts when it comes to claims even though you can insure a vehicle for an appraised amount. Go figure. That's why I'd like to go with a classic car insurance company. I just don't trust basic insurance companies.

Ben do you have classic insurance?

 

[m78]

My insurance company said they can only insure it for what it cost new,which was $10,500. I might call them to find out if that is still correct.

 

[bucks77ford]

My insurance company said they can only insure it for what it cost new,which was $10,500. I might call them to find out if that is still correct.

I also talked with this to my State Farm agent and they told me about the appraisal amount because it should be higher than the "new amount", but also stated that the premium could be much higher for an appraised amount and then the usage restrictions including mileage restrictions and what not. Then had to throw in the fact that the underwriters would most likely not give the full appraised amount I would be paying for in a total loss. Insurance companies, what a pain.

 

[taxreliever]

How is Grundy? I've been looking at them too, but that's as far as I've gotten. I like that they understand about unlimited mileage. With any classic vehicle insurance, they don't want people "USING" the trucks, but I figure I'd rather take my chances with the classic car insurance than the basic insurance. I'd still use my truck to haul some things.

I looked into adding my rig to the standard insurance policies out like Geico, State Farm, etc. and after talking to other car enthusiasts/collectors and doing more research, you really should go with a company who specializes in it. For example, if you need a tow, a normal insurance company 1) won't tow you, and 2) if they did or if you had some other auto thing out there like AAA, you don't have your choice of a flat bed tow. This actually happened to me out in the middle of now where and there was no way, I was having some skanky tow rig hook chains and yanked my rig in the air and towed it like that for 50 miles or so.

That's just one example....I can think of a bunch others, but the point is to go where they specialize.

 

[LEB Ben]

Ben do you have classic insurance?

Yeah...I go through Hagerty with Red. Grundy wouldn't accept me on my own until I was 265. Anyway, I've thoroughly enjoyed Hagerty's coverage and ease of use and customer service. While they seem to be a little tighter than Grundy parameters, I am well aware of what they are.

Also keep in mind there are several different values and levels of protection the vehicle could be insured on. It's been a while since looking at the paper work to remember what games are played. I know policy makes mention of an appraised value, but is insured for an aggreed upon value, and if totaled, that's what the check will get cut for. Originally, when Red came out of the paint booth, appraised value was 25k (present any and all receipts you may have) by the appraiser of their choice and the appraiser of my choice...and I insured it for the appraised value. Since the vehicle has some wear and tear on it, now the agreed value is either 15 or 20k, but the books still show a 25k appraised value. And for that coverage, I pay $146/yr. The main parameters are less than 6k on the odometer a year, a carport, non-work vehicle, it's a secondary vehicle and minimize joy rides. I've heard joy rides can be tricky if there is an incident, because it's difficult to prove you were just 'cruising' or frequency of 'cruising'.

 

[taxreliever]

Yeah...I go through Hagerty with Red. Grundy wouldn't accept me on my own until I was 265. Anyway, I've thoroughly enjoyed Hagerty's coverage and ease of use and customer service. While they seem to be a little tighter than Grundy parameters, I am well aware of what they are.

Also keep in mind there are several different values and levels of protection the vehicle could be insured on. It's been a while since looking at the paper work to remember what games are played. I know policy makes mention of an appraised value, but is insured for an aggreed upon value, and if totaled, that's what the check will get cut for. Originally, when Red came out of the paint booth, appraised value was 25k (present any and all receipts you may have) by the appraiser of their choice and the appraiser of my choice...and I insured it for the appraised value. Since the vehicle has some wear and tear on it, now the agreed value is either 15 or 20k, but the books still show a 25k appraised value. And for that coverage, I pay $146/yr. The main parameters are less than 6k on the odometer a year, a carport, non-work vehicle, it's a secondary vehicle and minimize joy rides. I've heard joy rides can be tricky if there is an incident, because it's difficult to prove you were just 'cruising' or frequency of 'cruising'.

Grundy isn't that much different.....you can actually choose your mileage with them or pay more if you want to use as a daily driver or for a commute. But you have to have a garage, not a car port....my rig was appraised for $30k in 2006 and when I bought it from the previous owner, he had Grundy, so they kept everything the same....insured for that much....no deductible. Theft or damage. I think I pay $350 a year (my wife pays the bills, so I never know exactly how much is actually being paid each year.).

 

[DNFXDLI]

Just talked with my agent as I was curious after some of these responses...the policies we have are full replacement with values noted on the policies which are what the appraised amounts (with receipts) came to. I also asked hypothetically about the 79 with a receipt/appraised amount of $75k...and if it is to be driven under 3000 miles per year it would be in the neighborhood of $400 per year for everything.

 

[LEB Ben]

Not to be too nosey, but I have a feeling that 75k guesstimate won't be too far off when it's all said and done.


Another tidbit of info...Hagerty also insures spare parts. To keep prices low, I told them I had 3k in stored parts, and put a $500 deductible on them. So that is also included in my policy. So that may be something else you want to ask your agent about Dman, since it sounds like you have some good back up parts and seconds.

 

[DNFXDLI]

Not to be too nosey, but I have a feeling that 75k guesstimate won't be too far off when it's all said and done.


Another tidbit of info...Hagerty also insures spare parts. To keep prices low, I told them I had 3k in stored parts, and put a $500 deductible on them. So that is also included in my policy. So that may be something else you want to ask your agent about Dman, since it sounds like you have some good back up parts and seconds.

Well...I wasn't going to give them a number that was out to lunch
Interesting thought though on the parts..thanks!

 

[LEB Ben]

One more thing Duncan...I may be reaching here, but back in high school, when I first got Red...I also had a collector's pollicy, but I was a secondary on my dad's policy. I went through All State...and the coverage they got was still through Hagerty. It was like they were simply a middle man. So I dunno if you want to approach that with you agent as well.

 

[DNFXDLI]

One more thing Duncan...I may be reaching here, but back in high school, when I first got Red...I also had a collector's pollicy, but I was a secondary on my dad's policy. I went through All State...and the coverage they got was still through Hagerty. It was like they were simply a middle man. So I dunno if you want to approach that with you agent as well.

It's not through Hagerty...it is through a company that I have existing polices with..a specialty division. I did call a broker today that uses Hagerty and the amounts (using the same figure) were very close.

 

[m78]

I think I'm going to have to get my truck appraised.

 

[DNFXDLI]

I think I'm going to have to get my truck appraised.

I would...and I found out that I need to get it done to the Shelby..the 3 year replacement endorsement is over.

 

[LEB Ben]

I think I'm going to have to get my truck appraised.

I surely would. I made the decision, that I wanted to be able to rebuild, with no out of cost expenses, if anything were ever to happen to it. And you could barely touch the cost of paint at 10.5 for your rig Mark. Now after a little wear and tear, I dropped my agreed upon value, because I didn't want a reappraisal to result in an even lower number...so I voluntarily took the cut.

 

[m78]

My buddy that has the 71 Cuda is going to get me the name of a guy that comes to your house and does appraisals.