insurance

[sen2two]

has anybody had any luck putting their second gen on classic car or some kind of insurance pertaining to race cars or show cars? I only drive my car maybe once every other month to shows or meets. but recently haven't been driving it since it's not registered or insured anymore. I was tired of paying 100 dollars a month on insurance for car I only really drive every so often.

[Raksj04]

I know in some states classic plates are cheaper in the long run. Like in WI you only pay for them once. like $200 they never have to be renewed, only thing is you can't drive it in Jan.

[Pete_89T2]

I've been using American Collectors Insurance for my FC since 2003. I believe they cover all US states; I've used them when I lived in NJ and now in MD. Here's the website for more info: http://www.americancollectors.com/

The gist of it is they sell "agreed value" policies for auto hobbyists & collectors on a case-by-case basis with lots of terms & conditions. If you & your car qualify and you can live within the terms & conditions they stipulate it's a great deal. In my case, full liability coverage and agreed value collision & comprehensive on the car costs me a little over $200 per year. The only catch is they won't cover any competitive racing events or driver school/track days, so if you do that sort of stuff, consider buying the supplemental insurance coverage that is typically offered by the organization that hosts the track event to CYA.

Check with them for all the current requirements, but here's what I recall they were when I first applied for a policy with them:
1. Spotless driving record, plus a minimum driver age requirement, think it was 35 (no problem for me, I was in my 40's when I applied)
2. Car must be garaged, and you need more registered vehicles in your household than there are drivers - in other words, the insured car can't be your daily driver. So if there are 2 licensed drivers in your home, you need 3 cars - 2 daily drivers plus your toy.
3. No other licensed drivers under a minimum age living in the household - I'm a bit worried about this one, since my oldest son will get his license this year.
4. They don't impose mileage limits, but they will ask you for a ODO reading each year when you renew, and if you racked up more miles than your usual (based on previous years) expect some questions. The first year I did the DGRR trip, they asked me to explain how I racked up an extra 2000 miles or so. They were OK with the explanation and didn't raise my rates.
5. Depending on the type of policy you apply for (collector vehicle, modified, street rod, etc.), you'll have to provide written justification plus pictures for them to consider your application and your proposed car value. If they accept your application, they will have you take the car to a local shop for photos, and make their own independent appraisal for the agreed value coverage.

BTW, you don't need historic/classic plates to apply for this insurance, and I had regular plates when I applied. Just this year I switched to historic plates, since in MD that makes registration cheaper ($52 vs $128 every 2 years), and I can now dodge the tailpipe sniff test.

[RETed]

Majority of FC's should not have anything else except for basic no-fault / liability if you can get away with it in your locale.
There's no reason to insist on collision and comprehensive due to the replacement value of the vehicle - i.e. KBB / Edmunds listings.
There are a few who insist their FC's are "priceless" - it's a hard sell to justify significant value over the KBB / Edmunds numbers.
The FC would be very hard to justify as a "collectors" vehicle with the exception of it's age.

If you're young - under 25 years of age - deal with it.
If you have tickets on your record - deal with it.
I pay $50 / month in one of the most expensive states for car insurance - Hawaii.
The FC is a "2-door sports car" in the majority of insurance companys' books.
The only break I get is the fact that my insurance company does not distinguish the difference between a turbo versus a non-turbo model - the rates are identical for both.
Perhaps the saving grace is that the car is old - over 20 years and getting almost 25 years old.
I own a 1987 Turbo II, and I'm over 25 years of age.

This kind of question really does not belong in here, as it's a regional query.
Most collectors type of insurance policies do not apply here in Hawaii.
Even if it did, they entail a lot of restrictions on usage - as Pete_89T2 has already mentioned.
Have you tried talking to your insurance rep to see if they can knock it down due to the low usage already?
If you're keeping your mileage down under 5,000 miles year, they will usually give you a better discount.
Any ticket will wipe away any possible discount, so your driving record needs to be clean.


-Ted

[sen2two]

Thanks for all the tips, I will look into all of them and see which one best suits me.

Thanks