Classic car insurance for "Daily Driver"

[redressonance]

Hello everyone,

The guys from East Bay Muscle Cars are getting close to finishing some amazing work on my 1970 Camaro and I was starting to look into insurance companies but haven't found the right one.

About me:

23 years old
I live in Oakland, CA
have a private driveway with a car port

About the car:
1970 camaro split bumper
LS1
quick ratio steering 12:1
DSE tubular A-Arms
18x8 and 18x9.5 C-5 Coys



I went with the more modern LS1 because I wanted my car to be reliable enough to be a "daily driver", but now I'm having a hard time finding someone to insuring it as such.

Is there collector car insurance that it isn't a requirement to have another car? Or has anyone bought a junk car and put cheap liability on it to pass the collector car insurance requirements?

Thanks!!!!

-Alonso

[Boatmark]

As a former insurance adjuster my advice is that as tempting as it may be, don't lie to your insurance carrier to get coverage. If you are going to use the car as a driver you will probably end up with one of the mainstream carriers.

The reason is this: the company will make the decision to extend coverage based on what you tell them. If you read the declarations page on every policy it will list out the coverages being extended, any exclusions of coverage (usually racing or illegal acts), and any limitations (mileage limits, locked garage etc.) . In the fine print there is usually some legaleze that states that you have read the conditions, and by making payment you acknowlege and accept the conditions.

Now lets say you have an accident on your way to work tuesday. You are at fault, you total your car, the Mercedes you hit, and hurt the other driver. The investigation of the claims brings to light that this is your driver (trust me it is easy to document) now you have a problem. It is called material misrepresentation. The short version is that under the law they only have to show that the facts were misrepresented, and that given the true and correct facts they would not have issued the policy. (again, easy to document). At this point they cut you a check for any premium you paid, and it is legally as if the policy never existed.

Not back to that accident . . . you have totaled your car, you have totalled someones say 40k Mercedes, and that guys ambulance, hosptial, doctor and rehab bills total 80k. (you can run that tab in a heartbeat) Without any liablity judgement, you are already looking at 120k in bills, plus your car. A little short? No problem, the other guys insurance company will pay his bills, buy him a car, and promptly file a judgement against you for the money.

That judgement will screw you every time you want to buy a car, a house, get credit, get insurance on your next car . . . and depending on what you do screw you up at work.

About that time you begin to wish you had paid the extra money for the correct insurance.

I don't mean to sound so harsh, but no one ever things it can happen to them. But from the perspective of someone in the insurance industry, it happens all the time.

[hotrod69camaro]

I live in So Cal and I use classic automobile insurance in Indy for my 69. Other than some pictures, they dont ask for much.

[79-TA]

All of the classic car insurance deals I have looked at basically require you to have another car to use as a daily driver.

[Chad-1stGen]

I gave up and went with a mainstream insurance company since I drive my car to work sometimes.

[redressonance]

No thank you for your insight Boatmark, it's very helpful.

It's a shame the policies are so strict and don't take into consideration unique situations. I carpool to work everyday with my roommate and live in a city with amazing public transportation.

Even in the situation in which I did want to drive to work, it's only 2.7 miles away which is less than 1500 miles in a year if I drove to work every day.

I would also be open to the idea of getting a motorcycle for the daily driver but it doesn't count as a "primary insured vehicle".

Has anyone had any positive experiences with mainstream insurance companies and their classic cars? if so what company do you use?

-Alonso

[vanzuuk1]

What if just use the car use the car to go to work once a month? does that violate the agreement?

[MCMLXIX]

I had my Chevelle on my Travelers insurance policy as my only vehicle. (daily driver for 2 years or so) We had an agreed upon value. I basically added the cost of the car plus a few thousand for upgrades. Brakes,wheel and tires. They were fine with that but it wasn't cheap. Just as much as a late model Nissan Maxima SE that I had bought a couple years after getting the Chevelle. When I got the Maxima, I put the Chevelle on the classic insurance.

[Boatmark]

I used USAA for my Vette back when I first had it. It was then my driver. I had a stated value policy (not as good as agreed, but all I could get) for the car and the modifications. I gave them copies of reciepts and a detailed photo array showing everything. They surcharged me about 400 for the mods and wrote it no problem.

The mainstream company will to an extent take into account that you state the annual mileage is low etc., but they have to also take into account that it has the potential to be out in traffic every day parked outside your office.

The insurance business is all about insuring risk. The collector car companies sell very specific coverage that minimises the risk for a low price. They service a car that is typically pampered, locked inside, seldom driven, and tend to be older owners. When the car is parked outside, driven in day to day traffic, Walmart etc. etc. the risk, and the price goes up. I always paid the price because I am not one who can leave the car in the garage . . . I want to drive it!

One thing you can do to reduce the rate is raise the deductible. I have 1500 on all my cars. I figure I can pay out of pocket for something minor, and let them pay if something ugly happens.

If you really truly use public transportation etc. I would be frank with several insurance companies (the mainstream) about the car and your situation and see if you can work something out. Unfortunately, with a performance car, your age may be as big a price hurdle as the rest of it.

When I was a kid with a Vette, we titled it to my mom, with me as an additional driver. The company knew I was driving it every day, but it was cheaper with a 50 year old woman as owner and primary driver. When I turned 26 I changed the title and insured it myself.