Insurance

[jtkkwag1]

Hello. Looking for some input on Classic car insurance companies. Who is the best all around and takes care of their customers. I have a 69 Firebird just getting finished up and got about $80000 in it. Will be show type car. Will drive to car shows, but only with weather permitting. Probably less than 2500 miles a year. I have all my cars and house with American Family here in Missouri. They are around $700 yearly for my 69. But was told by many not to go with them on my Firebird and go with insurance company that specializes in classic cars. Any input would be appreciated. Thanks.

[Kevin Campbell]

Grundy, Hagerty, American Collectors......

Avoid major insurers such as State Farm that have dipped their toe into the collector car market. To them it's just another car and they'll treat it as such, even though they sell collector policies, the rate paid to shops for collector/ classic for repair is the same as they would pay for a Kia.

Get an appraisal when your car is completed and insure for agreed value coverage only (never stated value).

[79 Camaro]

I've had State Farm agreed value on my hot rods for years. Only had to use it once on a 71 Corvette that I managed to run into my drill press. I was unaware the PO bypassed the neutral safety switch. My State Farm agent said take it where ever you want.
State Farm did not require an appraisal for my cars. He did take tons of pics and sent them to someone to confirm the agreed value.
But having said that State Farm won't insure a project that isn't basically running and driving. I believe a company like Grundy will.
My current project is insured for $30,000 which covers my material/base car costs but not my hours building it. I get paid about .25 cents for my labor!

[jtkkwag1]

About getting appraisal. I was told by Classic Car Appraisal company here by where I live that a appraisal will not do any good for appraisal on pro-touring type build. They can't really ad that much value to your car because of all of my custom show type parts. He said that they just are not allowed to do that and won't matter anyways. He said just keep receipts, and get a set replacement value. And if you want lets say $60000 of complete value than companies like Hagerty, Grundy, American Modern will honor that. Sound right? Because I suppose the old saying on these type of cars is " it is only worth what someone will pay" is your real value. Thoughts?

[SD67]

Went with Grundy, just like a few friends. 95k agreed value and the car is almost done (minimal interior). Great easy process and what I think is a reasonable rate. No claims yet (that is the real test) but easy process to get it insured.