How did you go about insuring a 15+ year old car?

[OriginalNsx]

I phoned my insurance a while back, and the operator didn't sound like she knew everything there was to know about insuring a 15+ year old car, but she did say something which kind of got me nervous so I thought I'd ask here.

1. Because the car is 15+ years old, the insurance company will only cover 3rd party (the other persons car/property).
2. If the car gets vandalized, the insurance company will not cover it.
3. The car will have to be looked at every 2 years

The insurance agent did mention something about the insurance company will first have to have an appraiser/agent look at the car, but I'm not sure if I wanted the insurance company to actually insure the repair of the car itself so the other 2 points above would be mitigated.

Hoping others can comment on this.

 

[TomCat]

I insure mine with USAA as a car...nothing special.
When it got hit/totaled they made me "whole" to my satisfaction.

 

[car2slo]

Hagerty insurance (Silver wheels) covered the car for replacement value @ $400/yr. Just can't daily drive it or leave it at the mall, must be in closed garage.

 

[JD Cross]

I phoned my insurance a while back, and the operator didn't sound like she knew everything there was to know about insuring a 15+ year old car, but she did say something which kind of got me nervous so I thought I'd ask here.

1. Because the car is 15+ years old, the insurance company will only cover 3rd party (the other persons car/property).
2. If the car gets vandalized, the insurance company will not cover it.
3. The car will have to be looked at every 2 years

The insurance agent did mention something about the insurance company will first have to have an appraiser/agent look at the car, but I'm not sure if I wanted the insurance company to actually insure the repair of the car itself so the other 2 points above would be mitigated.

Hoping others can comment on this.

It would help knowing where you are located.
May I assume you are in the GTA?

 

[BATMANs]

state farm for me...

 

[Ponyboy]

Chubb

 

[OriginalNsx]

It would help knowing where you are located.
May I assume you are in the GTA?

Yes the GTA.

 

[Bram]

Silver wheels...

 

[warrenw]

Insure for appraised value, not year of car. You will need an appraisal every 3 years, but you will be covered. (I use a private appraisal company) I am with Intact with a classic policy insured for $48k replacement value, similar as many here have mentioned silver wheels or other types of classic insurance.
$350.00/year.

 

[car2slo]

Yes the GTA.

Also in the GTA, give Lant insurance a call for Hagerty, Silver wheels. Pm me if you want a contact.

 

[vivanshah]

I use Geico, 400ish a year with no restrictions on driving. Not an agreed value policy though.

 

[TomCat]

I think a good segue to this topic would be how many people with major damage recommend the insurance they were using

 

[GECKO]

I think a good segue to this topic would be how many people with major damage recommend the insurance they were using

I would refer you to Dalton Timmis (Dan Avon 905-335-7448), as they insure my 95 for $50k value with Hagerty and they just paid out $50 to full damage when I was hit with no questions........they have been great to deal with and many people I know have switched to them. I pay around $750/yr but have a declared replacement value on the car - no appraisal.

 

[TomCat]

I would refer you to Dalton Timmis (Dan Avon 905-335-7448), as they insure my 95 for $50k value with Hagerty and they just paid out $50 to full damage when I was hit with no questions........they have been great to deal with and many people I know have switched to them. I pay around $750/yr but have a declared replacement value on the car - no appraisal.

Are there any mileage/use restrictions?

 

[GECKO]

Not sure..........I think there might be but I pu on over 6k miles and don't have problems. You do need to have a daily driver insured all year, and I'm not one for taking it shopping unless already out on a road trip. Just call and ask as they are in USA as well.

 

[TomCat]

Not sure..........I think there might be but I pu on over 6k miles and don't have problems. You do need to have a daily driver insured all year, and I'm not one for taking it shopping unless already out on a road trip. Just call and ask as they are in USA as well.

I casually use mine to go to work, store, etc...when my daily driver might be down for maintenance, etc...
I asked very specific questions to a few of the "agreed value insurers" and found that my usage would put me at risk so I chose to insure as a regular car.
I tested my decision when somebody hit my car. Since it was the other person's fault, I was "made whole". Had it been my fault, the insurance payout might not have been as favorable.

 

[vivanshah]

For those using regular insurance like me, a cheap dashcam is a good idea. We're usually paying much less than agreed value policies anyway. I've been meaning to get one.