insurance for historic vehicle.

[SVXBart]

I will be insureing my new svx as a historic in Maryland.
I have a quote from Hagerty for 340$ a year at 10000 $ car value.

I wonder who else done that?
What is your insurance company and how much are u paying?

Bart.

[Chucksta]

i may go with "Historic" on the second SVX I have, if I decide to keep it. The problem with Historic vehicle insurance is that there's usually a limit on annual milage, it can't be a primary vehicle, can't be driven to work, etc.

I rated my 02' WRX as my primary work and personal vehicle, and put the SVX as "pleasure only" and less than10,000 miles a year. No collision, high deductible ( $500.00) on fire, theft, and comp.

As a "senior" driver (over 50) with a spotless, claim free record, I pay less than $800.00 a year.

There's some companies looking at making insurance cheaper if you have a GPS tracker installed. It will tell the insurance company about your driving habits, speed, acceleration, etc.. and adjust your rates accordingly. I predict 0.0 % of SVX drivers will opt for it

[Sean486]

I think Hagerty specifies that it must be garaged when not in use.

[svxcess]

Originally Posted by Sean486

I think Hagerty specifies that it must be garaged when not in use.

All insurance companies like this have this requirement. Fully-enclosed, lockable at the very minimum.

Leland-West wanted $222.00/year for an agreed-upon value of $11,500. To get this coverage, there were a lot of restrictions, documentation and hoops to jump through. If it were that easy, more would do it.

UPDATE: January 2015. Agreed value was increased to $15,000 for $241.00 a year. Mileage limit is less than 3,000 yearly. no commute or errands


Any eligible drivers must have at least 9 years driving experience and a good driving record.

No at-fault accidents, violations, felony arrests, etc. for the past 5 years.

Each licensed driver in your household must have a separate, properly-insured, acceptable car available for their exclusive, regular daily use. If both drivers in the househild are retired, each person does NOT have to have a separate vehicle; a shared vehicle is acceptable.


All drivers in the household must be reported on the policy.

The vehicle is used on a limited pleasure-only basis. It cannot be a daily driver and cannot used for commuting, store errands or similar normal daily-use activities.

When not in use or at home, vehicle must be kept in a fully-enclosed and locked garage, accessible only to you or members of your immediate household.

The garage must have security system, alarm monitoring or a CCTV camera installation. Also a smoke detector and fire extinguisher are required.

As a special interest/ collector car vehicle, it cannot be modified to deviate from original equipment standards or equipment offered while in production. (If you installed a 5-speed manual, it would not be eligible for coverage). Different wheels, struts or upgrades that do not affect the cosmetics of the car are acceptable

Limited to driving less than 3000 miles a year.

Believe it or not, in my case, the only time the SVX would not be covered is while at Reading overnight. The meet is fine during the day. All overnight parking has to be within a secure enclosed garage or controlled-access covered parking. Reading is just a regular, open parking lot that anyone can go into.

Would be covered at my house, while on day trips to meets and shows or just pleasure driving, or to automotive shops for repair or maintenance. If left overnight, all shops must meet the enclosed garage standards as outlined above.

Require documentation of all maintenance, upgrades and restoration done. They also want multiple photos of the car from every angle so they could see the condition. Also photos of the garage and location with respect to the house.

A detailed appraisal from an independent approved collector car appraiser may be required to support agreed upon value as reasonable.

.

[Crazy_pilot]

Originally Posted by Chucksta

There's some companies looking at making insurance cheaper if you have a GPS tracker installed. It will tell the insurance company about your driving habits, speed, acceleration, etc.. and adjust your rates accordingly. I predict 0.0 % of SVX drivers will opt for it

No way in hell I would ever install such a thing in my car. I fear the day that insurance companies start either mandating these or pushing up premiums for not having them due to "unknown risk" or some such BS.

Currently the SVX costs me about $600/year to insure as my second vehicle with occasional use. At some point in the future when the car is in better shape I'll have it appraised and insured accordingly.

[theflystyle]

Originally Posted by Chucksta

i may go with "Historic" on the second SVX I have, if I decide to keep it. The problem with Historic vehicle insurance is that there's usually a limit on annual milage, it can't be a primary vehicle, can't be driven to work, etc.

I rated my 02' WRX as my primary work and personal vehicle, and put the SVX as "pleasure only" and less than10,000 miles a year. No collision, high deductible ( $500.00) on fire, theft, and comp.

This is what I ended up doing after looking at some historic quotes. I just raised the deductible to a higher level, dropped below the lowest tier mileage group and got all the discounts I could.

[92snowmachine]

i have seen unusual issues with those gps trackers that plug into the obd2 port. everything from drive ability issues to alarms and lights going off in the middle of the night. i would not recommend using those.

as for historical insurance i have found it's pretty much the same cost as regular insurance on most of my collector vehicles. don't know if it varies by area but i have full coverage with no deductible on the svx as a daily driver and it's around $800 per year. going to have them buy me a windshield next weekend.

[shotgunslade]

I have a policy with American Collector Insurance in Cherry Hill, NJ. $15,000 agreed value, Comprehensive, collision, uninsured motorist and liability (100,300, 500) with a 5000 mile per year limit and all of the restrictions that John mentioned, such as the garage requirement. My premium is $290 per year. The benefits of being old.

[SVXBart]

Looks like with my driving record i wont be able to get colectors insurance.
I will go with Geico instead.
Thanks for advise.
Bart.

[svxcess]

Originally Posted by shotgunslade

I have a policy with American Collector Insurance in Cherry Hill, NJ. $15,000 agreed value, Comprehensive, collision, uninsured motorist and liability (100,300, 500) with a 5000 mile per year limit and all of the restrictions that John mentioned, such as the garage requirement. My premium is $290 per year. The benefits of being old.

I got a quote from them with a $12,500 agreed value, 2500 miles a year, same coverages, 0 deductible on collision and comprehensive, $1500 spare parts coverage and the TLC platinum towing and labor plan for $264.45 a year.

.

[B 4 You]

I'm 22 years old, no accidents at my fault on my record, and my premium is $250/6 months for both my wife and I on my SVX. I only have liability on it, but my coverage is pretty good. I'm not sure why some people pay so much... I'm on Geiko.

[svxcess]

One of the advantages of an agreed-upon value in a collector car policy is that the company is far less likely to write it off as a total loss in the case of a minor accident.

On a regular policy on the SVX, even a small collision that damages only the front bumper, but sets off the two airbags, or cracks the windshield, is sometimes enough for them to write it off. I have seen it happen.
.

[benebob]

I've had Haggerty on my TVR for 5 years now. They have been spectacular. For full coverage, 250k/500k, no deduct., unlimited mileage $12500 agreed value, 200 mile towing I pay around $300 a year. Yes the car does need to be your non primary car, yes it does need to be stored in a locked garage on your property when not in use but it is fully covered when using it for pleasure, shows and meets including overnight stays in parking lots, hotels etc. Haggerty even covers it in Canada without a different card as I took it to a show up there last year and verified coverage before I left. Another great thing I've found out about haggerty is that when my windshield cracked (and wasn't available stateside) they were more than willing to pay for it to be shipped from across the pond. As soon as you can get you SVX on an agreed policy the better you'll be protected esp. from total losses.

[svxcess]

Hagerty doesn't think too much of the SVX as a collectible.

To qualify for collector car coverage, a 1990's vehicle has to have a value of $10,000.

Here is their valuation for my 1996 Polo, rated as a Condition 2, which is:

Condition #2 cars could win a local or regional show. They can be former #1 cars that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and interior will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine compartment. The vehicle will drive as a new car of its era would. The one word description for #2 cars is "excellent."

As of December, 2013, their valuation of my car is only $6500 ( up from $5900 in April 2010)




Even a Condition 1 SVX comes in at only $9900 (up from $8600 in April, 2010)

Here's their requirement for a Condition 1 car:

Condition #1 vehicles are the best in the world. The visual image is of the best car, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the car has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 cars is "concours"
.

[benebob]

Originally Posted by svxcess

Hagerty doesn't think too much of the SVX.

To qualify for collector car coverage, a 1990's vehicle has to have a value of $10,000.

Here is their valuation for my 1996 Polo, rated as a Condition 2, which is:

#2 cars could win a local or regional show. They can be former #1 cars that have been driven or have aged. Seasoned observers will have to look closely for flaws, but will be able to find some not seen by the general public. The paint, chrome, glass and interior will all appear as excellent. No excessive smoke will be seen on startup, no unusual noises will emanate from the engine compartment. The vehicle will drive as a new car of its era would. The one word description for #2 cars is "excellent."

As of December, 2013, their valuation of my car is

Can't help you with that. Never got questioned about my value with them however from my understanding you can always get your value via a licensed appraiser of your choosing if your not in their ballpark. Might want to try grundy then, they'll do an agreed value policy on all your cars, collector thru tow vehicle.