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Old 07/29/2003, 09:18 AM   #1

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Insurance ?? Collectors or Standard Auto ??


I am in the process of purchasing a '66 HCS and have a question regarding what type of insurance to get.

We will have only 1 vehicle for use as a "daily-driver", our faithful mini-van. However, since I work 100% out of a home-office, my commute is 10 steps from my bedroom to my office. So, I don't really need a "daily-driver" to get to work.

I've read that some collector car insurance companies require 1 "daily-driver" vehicle per registered driver before they'll insure a collector. Are they all that way?

Also, I can't imagine I would put more than 3 or 4 K miles on the 'stang during a year. Will this meet most collector insurance companies mileage requirements?

Finally, if collector insurance is the way to go, which companies have the best reputation and most reasonable premiums?

Thanks for your help. Can't wait to get the pony!!


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Old 07/29/2003, 09:25 AM   #2

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Re:Insurance ?? Collectors or Standard Auto ??


Well, I'm not an insurance expert and cannot give you all of your answers - but we use collectors car insurance on all of the old cars, and it seems to work out well.

If your just driving the Mustang to car shows, classic events, etc. - then the collector car insurance will cover all of your needs.

I did some research, and most of the companies require that you have a daily driver because they do not want you to be daily driving your Mustang under their insurance policy, and then "saying" you were on your way to a car show when you show up with a smashed in side. It is a precaution on their part, and since you have a Van - you'll be wont PAY any extra for having the daily driver, you just have to show it to the insurance agent.

There are a lot of insurance companies out there...I suggest to search for them and read reviews and compare prices.

Goodluck on your search, let us know how it goes -

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Old 07/29/2003, 12:34 PM   #3
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Re:Insurance ?? Collectors or Standard Auto ??


I am certainly not an expert either, but I looked into both when I insured my '68. I wasn't happy about the restrictions placed on my driving with the antitique insurance. I LOVE to drive my car, and want to drive it when and where I want to. I opted for agreed value insurance through State Farm. I feel like if something happened, my car would be fixed right and I can drive it when I want to. It wasn't cheap, but still less than $75 a month. Just my two pennies. :)
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Old 07/29/2003, 01:17 PM   #4
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Re:Insurance ?? Collectors or Standard Auto ??

My two cents is that insurance companies have one thing in mind and that is get as much of your money as possible and give you as little as possible in return. If you think about it Collectors insurance should be quite a bit cheaper than regular insurance based on all the restrictions and the fact that this is your baby, in essence you are paying them to restrict you. They are 1000 times more likely to incur a claim against your old pickup truck or town and country than your classic. However they make it sound like they are giving you some kind of a special deal with collector insurance and try to justify that is why it cost more. They simply give you a lot less and charge more.

I'd be very careful and read it all very thoroughly as there is probably a lot of fine print intended to pull the rug out from under you in a lot of cases.

I have 4 vehicles 3 of which carry full time insurance and the mustang at this time only has a storage type insurance on it that is set at an amount that I designated. If and when I take it out I simply put the insurance on the car during the short period I intend on driving it. They will tell you that you can't do that but it is all blowing smoke they can't stop you as long as you have other cars that are insured.

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Old 07/29/2003, 01:26 PM   #5

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Re:Insurance ?? Collectors or Standard Auto ??

We have 1 daily driver in the house and my husband has a vehicle from work. We went through our regular agent who insured us through Haggerty Insurance (A collectors policy) That really was the best way to go for us.
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Old 07/29/2003, 01:29 PM   #6

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Re:Insurance ?? Collectors or Standard Auto ??

I have 5 cars insured thru state Farm. I state the value of the vehicle on the insurance forms for each, and for my one really "nice" car, I gave them a copy of the appraisal. One of the old clunkers is my driver, a '72 Ford, which I declared as my daily driver and which cost the most to insure because of that. The rest, including my "nice" car, are all really cheap to insure. When a car is dead in the garage, I change insurance on it to non-driver for however long, and that's REALLY cheap. I understate that I don't qualify for collector car insurance because the '72 is my newest car and they require that your driver be newer than 1980 or something like that--so I don't waste time with them.
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Old 07/29/2003, 05:41 PM   #7

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Re:Insurance ?? Collectors or Standard Auto ??

Check with Grundy Worldwide Insurance.(classic car insurance). You can insure for stated value, the only restriction is you can't use the car for your daily drive to work. You do need to have a daily driver with regular insurance.
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Old 07/30/2003, 06:35 AM   #8

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Re:Insurance ?? Thanks everyone....

Thanks everyone for your input. I have a call into my insurance agent to talk about agreed value coverage and will compare that to a couple of collector policies (making sure to read the fine print...).


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Old 09/22/2003, 10:42 PM   #9

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Re:Insurance ?? Collectors or Standard Auto ??

Check out American Family. I have a daily driver Saab 900 Turbo, but will add the collectors insurance on the '66 HCS when it's roadworthy. It's only a couple hundred for the whole year and unlimited mileage, (as long as I don't drive it to work), Seriously!!

Scott Williams
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The one built in Dearborn
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Old 09/24/2003, 02:15 PM   #10
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Re:Insurance ?? Collectors or Standard Auto ??

I have a freind who has Haggerty and they are in love. The premiums are low and his daily driver is a 68 HCS. Apparently, another holder of Haggerty had the front of his 56 Chev with custom paint driven over by a lift truck. Haggerty told the owners to go get it fixed - CORRECTLY - not the way State Farm will have it fixed, had the entire car repainted so it would match the original condition. No hassle, no problems. Later when the Truck's ins company refused to pay the bill, Haggerty sued them and won for the full amount. In the mean time, the 56 Chev owners were not out a dime and Haggerty stood by them all the way.

That is a rarity indeed. I do not know all of the premium details, but is sounds like it is worth looking into. As my cars make it through the restoration process, I am going to Haggerty (as are many many people in this neck of the woods as stories like the one above travel fast on a warm sunny car show afternoon.)

Good luck.
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Old 09/26/2003, 09:54 AM   #11
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Re:Insurance ?? Collectors or Standard Auto ??

My insurance company is USAA, and while they don't insure "classic cars" they suggested that I use Haggerty as well. That's good enough for me.

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Old 10/13/2003, 07:11 AM   #12

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Re:Insurance ?? Collectors or Standard Auto ??

I use a company out of Virgina and my premium is 72 dollars a year, full coverage, and I have it insured for 6500.00 dollar fair market value. I can drive up to 2500 miles a year. I will look up the company if anyone is interested.

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Old 10/13/2003, 10:57 AM   #13
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Re:Insurance ?? Collectors or Standard Auto ??

I had stated value on my 69 XL conv. with State Farm until I got rear ended at Hot August Nights in Reno. I had to fight them for everything and even had to track down some of the harder to find parts myself. I switched to Haggertys because of their reputation and put the XL and my Sunbeam Tiger on for $26,000 combined value. I costs me $225.00 a year (State Farm was over $300.00 for 6 months for just the XL) and I get 2,000 miles for shows and 2000 miles for pleasure with each car. In N. Idaho that's all I can do in a summer anyway. Just my two cents.
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Old 11/07/2003, 02:25 AM   #14
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Re:Insurance ?? Collectors or Standard Auto ??

I'd still suggest talking to American Family. It's cheap and full replacement value after qualified appraisal. And they give you unlimited mileage. The only restriction is that you can't use it to drive to or from your place of employment. Not bad.
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