collector car insurance
- Thread starter topsailor
- Start date
Gonna tag along this thread because I’m on the same boat. When I got my quote, found it odd how inexpensive it was, but I don’t know if it’s normal or if nsx’s aren’t expensive to insure..
It's normal due to the mileage and usage restrictions inherent in the collector policies. Statistically, you're not driving the car enough to have a high risk of loss.
Living in another country, but insurance companies make the same calculations: it's not about the value of the car, it's about the costs for the humans involved. These can easily be 10 times bigger than any car.
And a modern DD will statistically be involved in more accidents than your precious collector car.
And a modern DD will statistically be involved in more accidents than your precious collector car.
- Joined
- 14 December 2022
- Messages
- 21
Geico I'm a senior clean record 422 for 6 months
- Joined
- 14 December 2022
- Messages
- 21
The issue is they will only pay based on original msrp I'm changing over to the agreed value policy at 125000 for 466 for 6 months not much more for a lot better coverage My car ia a red 2005 with 66k on the clock it's not a garage queen. I didn't buy it to just look at. I raced SCCA Production alfa romeos then as I got older switched to a legend cars and enjoy driving with a bit of spirit.
125000 for 466/6mos sounds about right. Remember most collector policies do not cover track time, so if you are still doing that, you'd need to buy separate insurance.
State Farm for everything we own. Clean record in spite of my SCCA racing history!
Once I had our 2 toys professionally appraised I was able to submit the info and photos for "agreed value" driven under 5000 miles per year. I'm able to adjust the numbers as the values go up, which I will do again in 2023. They no longer offer a discount for not being driven during 6 month winter storage, however...
Go figure:
1995 NSX $75000, $198 per 6 months, "limited use antique/classic"
2006 S2000 $42500, $326 per 6 months, limited use antique classic"
Once I had our 2 toys professionally appraised I was able to submit the info and photos for "agreed value" driven under 5000 miles per year. I'm able to adjust the numbers as the values go up, which I will do again in 2023. They no longer offer a discount for not being driven during 6 month winter storage, however...
Go figure:
1995 NSX $75000, $198 per 6 months, "limited use antique/classic"
2006 S2000 $42500, $326 per 6 months, limited use antique classic"
I don't have the vehicle breakdown handy, but I have 4 cars on my Travelers Policy, a 2002 NSX, 2005 Ford GT, 2019 E53 Convertible and a 2017 BMW X1, a $1,000 deductible full "market Value" coverage is $3,585 for 12 months. I'm sure that it's going to rise come renewal in June. clean driving record, no claims past 9 years, senior citizens.
State Farm regularly charges me less on my 2018 NCI, than my wife's 2019 Mazda 6. Both clean records and no restrictions.
Looking at this thread makes me think what my insurance carrier (Allstate) values my cars. I don't have an agreed value policy with them.. I'd hate to have an accident and they only offer 1/4 of the value of the car..
- Joined
- 28 July 2014
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- 158
I use Hagerty. They have agreed upon value. Was fast and convenient. I’ve had a few friends need to make a claim through them and it was nice.
Same. Farmers insurance uses them for any classic they insure and I've had no complaints about them.
This thread is making me re-look at insurance. Insurance for the NSX is slightly less than that of my CRV. Granted, I stated that I would drive the car for less than 3,000 miles a year. Nonetheless, I think for people in our boat, if we total the car, it could be a crapshoot what the insurance company will pay out. This is where agreed upon insurance comes in. For the amount at which I want to insure the NSX, it is about $200 more every 6 months based on a "instant-quote" from Leland West.
I use Grundy and it is around $700 a year for unlimited miles and a $90k agreed value.
I don't know what I'm doing wrong but I'm paying almost $1,800/yr for American Collectors. 2003 with an agreed value of $107,000 (which I should probably increase). I shopped around and Hagerty and Grundy were even more expensive than that. I'm 38, with no prior accidents or major claims to speak of.
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Hahaha38=too much testosterone....
I think you have to crest 40 before the rates start getting better.38=too much testosterone....
Also something we haven't talked about is coverage, state mins, etc.
Grundy quoted me 325/year for 50k value on my 1992 NA1 but it was for WI state minimums which is 100k/100k/10k. I pay 900/yr with Hagerty but I carry 500/500/250 because I don't want my family to hung out to dry with medial bills/uninsured dirver/etc especially driving a 30 year old car with minimal safety features/design.
Grundy quoted me 325/year for 50k value on my 1992 NA1 but it was for WI state minimums which is 100k/100k/10k. I pay 900/yr with Hagerty but I carry 500/500/250 because I don't want my family to hung out to dry with medial bills/uninsured dirver/etc especially driving a 30 year old car with minimal safety features/design.
I am similar age and have a 2003. I was shopping Leland West and their online quote for 120k agreed upon value at 3000 miles was around 900 / year. They haven't called me back yet, so I don't know how real this number is yet.
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