Daily Driver (primary usage) Insurance

[tireman]

I plan on using my Camaro as my primary car. Does anyone have advice on this? I've seen plenty of posts, but normally they concern limited usage policies.

From what I've gathered, the specialist companies won't do primary vehicle insurance and it may be difficult to get an agreed value policy at a normal insurance company for a modified car.

Before, I had it insured as a collector car, but used it as a primary driver. I probably got lucky, because if I would have had a problem, it could have been bad.

Thanks in advance for any help!

[JLM]

I haven't had any issues with State Farm concerning this. I do have a different primary driver than what my Firebird will be for, but I can basically get any coverage I want on the car with a stated value. Basically what that means is you tell the company how much your car is worth (perhaps more than it's true value depending on how much you have into it) and pay the premiums based on that stated value.

I was quoted $238 every 6 months for full coverage with a stated value of 13,500.00. AFter I'm done with the project I'll calculate all the money I have into the project and have it appraised. Whichever number is higher is what I'll use as stated value.

[chevymike]

Be careful about stated value. When my mom worked for an insurance company (Farmers), she had always said that stated value was used to set the price of the premium based on that moment in time. If you have a problem down the road, they depreciate everything from that point. What was $15,000 at the beginning, may only be $10,000 at 3 years out. The value will typically go down with time.

This is why agreed value is what most collector car companies use. Whatever the agree value is, that would be the total payout for a total loss. This is also why there are limits to useage of vehicles and can not be a primary use vehicle.

You might want to clarify this with your agent and maybe get something in writting. Just my .02 worth. YMMV

[JLM]

Chevy yeah I think you've got that correct. I don't think you can do agreed value with a daily driver though. Even if it is a classic a car that is driven daily will deteriorate slowly over time and thus market value would also go down. In the case of a daily driver I still think stated value would be the way to go.

[trackzonie]

I got my 68 camaro which is my daily driver to work, school and all the other odds and ends that appear. Its insured through AAA of Arizona. Nobody else would insure it due to the fact of age (17 then now 19) wasnt in garage, was modified and previous accidents in another car not of my fault. As long as you get apprisals frequently you are allowed to have it as an agreed upon value.
Kevin

[tireman]

Thanks guys!

[DarkBuddha]

There was another thread about this kinda stuff just last week: https://www.pro-touring.com/forum/showthread.php?t=8798

As for me, I had an AGREED VAlUE policy with Statefarm for my Mustang (before the Mustang stalled in the rebuild process). They were the only company I could find that would do an AGREED VALUE policy and still allow me to use the car as a regular daily driver or have a ton of rules since I don't have a garage or another daily driver car, and I didn't want limits to the mileage or usage. The premium for $12000 AGREED VALUE was under $900/year in Seattle.

Good luck with your search...