Another Insurance co.

American Modern Home www.amig.com/products/classic_car.html#elig

Cost less more miles.

Joe- I've got them. They are fairly restrictive- but so far, so good.

Big problem... Don't tell them that you built it! Tell them that it was built by the manufacturer via turn key. I guess its off to Haggerty.

Here a much better one...unlimit casual driving
aoncollectorcarinsurance.com
Quote $312 one year

Joe, that is the underwriter I got through a specialist broker. They do have a $30K limit on comprehensive, which leaves me a little short if I total my new IM.

I figured for the low premium price I was paying, I could afford the risk as the last thing my estate needs if I end up dead driving my car is a replacement IM, so theft is the only real gotcha, again a risk I am willing to take for the price. I selected pretty high liability limits and it still was real cheap.

Well..... we're all on the same track. I got a quote from them on the new car- few restrictions, but a $30K limit. That seems OK with me too.

I don't know...a $30k limit for comprehensive seems like a strange limitation. I own a insurance agency, but not real involved in personal lines , but the biggest exposure on physical damage to these cars would be fire or theft or a full total in the event of a collision. Do they limit the collision coverage to $30k also? $30k is a very low amount given the value of todays autos...
It would help if people did not buy the coverage through Aon (one of the worlds largest insurance broker firms) unless they provide adequate coverage, I'm certain that they could charge additional premium to get the extra coverage through a quaified insurance carrier. I only question using them..why would you buy less coverage than you need? Why buy coverage at all if you are willing to absorb a significant portion of the exposure. If someone steals a $45k car, and you only have $30k in coverage, why are you willing to take the $15k risk? I only suggest that you should get full coverage, and if you are already going through the trouble and expense to buy insurance coverage, get full coverage.
Just my 2 cents (or less) worth.

As I understand it, the total limit of liability on the car is $30K- Aon doesn't see these particular cars being worth more than that (no matter how much you paid). That's comp and collision coverage. Liabilty of course is whatever you have on your other cars- no more.

I think the appeal is in the restrictions- there just aren't as many as with Haggerty, or American Modern, or many other insurers. It doesn't matter if the policy is written for $45K, if the only place you can drive the car is to shows and in parades. I want to be able to run errands, take my wife out to dinner, etc. If my car gets keyed in the parking lot at Mr. Steak, then I'd like to be covered- I don't think I am with the folks I've got now.

$30K doesn't seem too bad. My car might be worth $20K -$26 once completed. Who really knows. If it is totaled start all over.

I agree , based on what I have read on this site, the restrictions on the Aon policy are much more favorable than Hagerty (my carrier). My point was to push the carrier to provide more adequate limits when needed (if a new IM costs $35k to $45k or more) then those of us that have those higher value cars need to push the carrier for higher limits.

I for one would like to see Bill Steele get Aon to provide higher limits, then I would go to Aon from Hagerty and insure my IM Speedster (worth upper $30k's).

It seems that Aon (or their insurance carrier) has not investigated the wide range of values for these cars, which would seem to be in the $15k to $50k area. I know that they do not want to overinsure the cars since they will do a stated amount limit, but I would be hesitant to place coverage with them if they can't give me adequate coverage.

I'm not knocking anyone here, I am just disappointed to learn of this limitation as I was hoping to move my coverage to Aon when my Hagerty policy expires. Oh well..

State Farm.... Full appraised value, no limitations.

Robert, I pushed real hard on the $30K hull value. They were not negotiable. I weighed the trade off with the limits Hagerty and the other specialty car show people seemed to offer and decided I could live with a $15K short fall on replacement claims. To be frank, what I care most about is the Liability Coverage. The $15K is irritating if I lost it, but a couple $M on a lost lawsuit, well that could ruin my whole day.

Jim, does State Farm insure all your other cars as well? I use a different company for my other cars, as it is the same company with which I have my House and Liability Umbrella policies. I get such a favorable deal on this whole package, I don't want to separate out my other cars. Unfortunately, this company does not understand "Kit Car Speak".

Joe- You SERIOUSLY underestimate the value of your car.

Bill/Jim- Yeah, State Farm will do it, if you can find an agent who wants to. However, as long as daughter #2 is doing her NASCAR bumper-tag impersonation, State Farm has no interest in a guy like me. I might try to switch my business vehicle to them, and then piggy back the new car on teh policy- we'll see.

I agree- the $30K is arbitrary, but the whole "classic car" insurance thing is weird to me in and of itself. How in the world could anybody accurately calculate the proper rate for these cars- it's not like I can take it down to "Village Autobody" if I smack a guard rail. What would be a small claim if I lived in Vancouver, could mean a round trip on a $3000 covered transport for a guy in Georgia. I'm with Bill- the value here is in the liability portion of the policy. If you can afford the car, you can afford $15K. None of us WANTS to eat that kind of loss, but some guys can't get State Farm, and the alternatives I've explored leave me feeling a bit naked.

Bill, I only have the Speedy under State Farm, other cars are elsewhere. Just got my renewal today from State Farm, a whopping $80 for 6 months and I am 26!

Justin (and Jim), I am making a call to State Farm tomorrow. Thanks a lot for the heads up.

Stan, our daughter is an insurance company's worst nightmare. We have her totally separated from our policies, car registrations, etc. We have exclusions on our policies for her, she can't even drive our cars when she is home from college. I am not sure which one was the last straw, but I am pretty sure when she rear ended that brand new SL55 with the Suburban it did not help.

Bill, I took Justin's suggestion and went with State Farm. I insure all of our other cars/house/etc with Farmers. I did move a 54 Chevy truck to State Farm to designate it as a primary driver.

Hi Guys, Ive had my speedster for about two years. From CA. My umbrella policy holder.. informed me I need to have 500K coverage...my curent carrier...(Great American Ins Group) doesnt offer more than 300k ...do you guys have your cars insured as a classic collectable ...or as a VW? So...next question...does your insurance company offer 500k coverage? Anna (Santa Barbara, CA)

HUH? Anna, Please elaborate....are you financing your speedster, and they require that???? most of us insure for value of car which is 20-30K depending on condition, unless your talking Liability...
These cars are not Porsche's....

State Farm, 480 for 45k coverage on my new one. It is stated value insurance, no debate about what it might have been worth if something horrible happened.

It can't be my only driver, and must be used as an extra car, it is expected that I'm not really going to drive it in a winter storm, but if I did it would be covered. It also must be garaged at home.

If we have 3 drivers in the house we must have 4 cars including the suby. Unfortunately, I don't have any problem with having an extra car. We currently have 3 drivers and 5 cars, and I almost bought a new ford ranger the other day, just because it was so cheap for a new one.

Anna: I have a $1 million umbrella policy and the insurance company (Travelers) required $500K limits also. I think that is pretty standard. Travelers would not insure my Speedster, so it is insured through AON as a VW based replica for about $250/yr. It was easier to title it here in SC as a VW. The original owner had tried to title it as an Intermeccanica and ended up with International Harvester.

In my humble opinion, Bill is right on the mark. The most important thing is being with a company that won't deny a liability claim based on the "fine print" -- (ie. mileage limits, use restrictions, etc.). Plus, if you do have excess/umbrella coverage, you need limits on your auto that take you up to the threshold of the umbrella. I'd rather eat a chunk of a collision claim than be left out in the cold on a liability claim. Reading a "specialty insurance" policy (like Haggerty or Grundy, etc.) to see if you are covered is like trying to dance between the rain drops without getting wet. Theoretically possible, but good luck.

K&K Insur. Service via Jonathan Barlow. $374 p/yr, $500 deductible, and their check is in the mail for exact purchase price of my car (destroyed in fire) bought a year ago, damn near to the penny. No mileage restriction but must have a daily driver already insured. They agreed to the appraisal value (which matched the purchase price) done the week of purchase at '04 Knott event

I'll let you know if they give me a repeat policy...

MM

Mike,

Was the fire recent? Fist I heard about it. What happened? Can you relay any experiences, photos, lessons learned?

Our very own Mike, is the winner or the hard luck award for Knotts this year. Not an award most of us want to win.

Thanks guys for all your responses. Chuck G. yes I carry a 1 mil umbrella also. It seems I will need to get the car appraised before any quotes...you said try aon? I currectly pay about 289. yr 300k liab
and I do have it registered as a vw...but insured as a vintage replica. Have the replacement value set to 20k. Checking into Hagerty, but two years ago they wanted 2x what I pay now.. Seems most all have the millage restrictions... do you guys know about the driver restrictions? I would rather be the passenger than the driver...thanks again for your responses. Anna

Ended up going with State Farm. $80 for six month $30K replacement value, $100 deductible. Used K&K in the past for racecar hauler and track insurance. Never had a claim.

Steve, is State Farm requesting that you get an independant appraisal even thought your car is brand new or do they accept the value on the bill of sale as a basis for the "stated value?"

Anna: AON was formerly known as K&K insurance. Their phone # is: 877/765-7790. Hope that this is helpful to you.

Chuck

Thank you Joe, and Chuck...I will call AON and also I have already set up a appraisl to get a quote from Farmers. What a hassel. Anna