I didn't know exactly where to post this, but I think this might be right. Basically I'm just curious about what type of auto insurance you guys have for your classics. I already know of the major companies such as Hagerty and Grundy and the others, and the basic insurance companies like Nationwide and Geico, but I'm not positive as to which is best for my situation.

My dad and I have been restoring my 67 Mustang for the past two years and it's just about ready to hit the road, but before that we need to have it insured. But the catch is this, I plan to use it as my daily driver and most classic car insurance companies will not take it if it is a daily driver.

So, what it comes down to is: What type of insurace do you have for your classics, and how good is the coverage? What type of restrictions do the policies include? And any other help you may want to include.

 

I have MetLife for my 69 Coupe. It has a limitation of 2,500 miles a year, full coverage at maximum rate w/ $0 deductible where the car is covered for an agreed amount. It costs me $86.50 per year.

When I first was getting insurance for it in 1989 as a daily driver I had a hard time getting anyone to insure it. They kept saying it was "too nice" and a "show car" which was total BS since it was unrestored except for a new paint job and rims. I eventually got it covered for like $600 / year if I remember right.

 

2,500 miles a year!!!! I need to sign up for that!!...I dont think I drive mine that much...for 90 bucks all year....what a deal!

 

I am using allstate at the moment for full coverage. This is before restoration work; since I am documenting and photographing and comparing with many other cars of my year; i am hoping to be able to increase the compensation to match close to my investment.
we'll see...

eeeee

 

That's what I like about my MetLife policy, I set the amount I want coverage for and the price is set on that. Right now it is $7,000 which might be a bit low.

 

Thanks guys, appreciate the info. But I just re-checked for about the 20th time every classic car insurance agency online, and I really don't think there is a company that is willing to insure a classic as a daily driver. Most put mileage limitations (the highest I saw was 6,000), and others flat out say "no daily drivers."

So now the questions is, does anybody know anything about what type of coverage more contemporary insurance companies offer for classics? Anything different from a "normal" car? My family's been dealing with Nationwide for more than 25 years, I'm pretty sure, and I think I might see what they have to offer. Anyone able to offer a little insight?

 

Check out the classic consignment places; ask for their managers and explain your situation. Check out these three that I have dealt with:

- http://www.myhotcars.com/
- http://www.specialtysales.com/
- http://www.highwayone.com/

Maybe they know of a place/company that is willing to cover you. Problem is ( that I hear of ) most speciality classic car insurance policies are compensation only, no liability.

There has to be a lot of people out there driving classics everyday; i know of a few people at work that have mustangs, camaros, t birds, etc.

 

I have my 66 insured with State Farm, full coverage, for appraised value (around 20k) and it costs about $150/year. Course I have other vehicles and a home insured with them too.

 

I have State Farm and have full coverage on all of my vehicles and have them as daily drivers for around $525 for each of my '78's per year.