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I'm buying a nice 1953 Chevy:). I'll need to insure it. I've gotten a couple of quotes on insurance (very nice in the $100-$150/yr range) but I have no idea how these insurers are to do business with. Anybody have any insurance with or dealings with a classic car insurer?
Any comments & suggestions would be appreciated.
Thanks
Dennis
I know,I know , I could have gotten a nice new table saw, bandsaw, jointer/planer etc. but a man has to expand his horizons once in a while:)
I've used J. C. Taylor (one of the largest) for my antique cars since 1972. The coverage is cheap but the restrictions MAY include antique tags, limited use (parades, club tours, maintenance), limited mileage/yr., etc.
http://www.jctaylor.com/
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Check out Grundy. As lonjg as you are not commuting or using it as a shop truck you can drive it, and you agree upon the value.
My insurance goes through Lloyds of London... A good agent should be able to direct you in the direction you need to go. A lot of them will offer a rider of sorts if you are storing it.
I've used Haggerty for years and have been very happy with them.
Chubb Insurance company offers a policy that is especially good for antique ( or any car) they call it "Agreed Value"
They use a slightly inflated number for the value of your car. You can take it to an antique car expert for a valuation too. then you pay the premium on the policy and the value you and Chubb Agreed on never changes.
This in stark contrast to other types of insurance that purports to insure a car for some stated value. All the other (to my knowledge) companies all depreciate the value over time and require you to have your vehicle re-appraised every so often.
Haggerty is always recommended when you ask old car people - they have an easy "agreed value" policy with only a few restrictions.
The only problem you run into with these policies is if you require a large amount of liability - or you bump up your medical to max limits. I believe the standard upper limit was 500k w/Haggerty. They can write higher limits but its case by case after a review. The estimates were too close to what CHUBB gives me without any restrictions.
To get an agreed value policy with some insurers you need an outside appraisal -- Chubb allows I believe a 1/3 value increase with a very small premium increase. Every company does it a little different.