What's your yearly insurance premium cost and your annual DMV registration (in California)?
Just curious about this overhead cost that we seldom think about, but it's very important to have in place.
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What's your yearly insurance premium cost and your annual DMV registration (in California)?
Just curious about this overhead cost that we seldom think about, but it's very important to have in place.
Just curious about this overhead cost that we seldom think about, but it's very important to have in place.
Insurance $425/yr State gets about $125 yr. This is on my personal car with a $35K replacement value
$411/yr for insurance with $30,000 "agreed" value.
$170 for registration.
$170 for registration.
Thanks Carey and Troy for the information.
troy, if you dont mind me asking, who are you insured with ? im in so.cal.
Hello Scott.
Here is what I wrote in another insurance thread and the link to that thread which has lots of other insurance information.
https://www.speedsterowners.com/forum/readmsg.asp?t=22051
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I left Hagerty, because they would not put it in writing that I could "occasionally" drive my car to work, let alone define occasionally. They will say it, but they won't put it in writing.
You guys with your $15k to $30k cars insured as 50s or 60s VWs. Aren't you concerned about what the value of an old VW is if you total your car?
I went with an "Agreed Value" policy for $30,000 from American Modern Insurance Group through Atlas Insurance Agency Inc. in Amelia Ohio. I have an "Occasional Commuting to Work" endorsment, which is listed on my Policy Declarations page.
My policy includes a "Collector Vehicle Occasional Commuting Endorsement" that deletes the "to or from work" restriction. Otherwise, it's the same as my old Hagarty policy with an "Agreed Value" of $30,000 for $411/year.
My "Declarations" page states:
Mileage Tier: Mileage limit of 6,000/year
Usage: Occasional commuting to work, Occasional pleasure use
It can't be my daily driver and I have to keep it garaged.
Atlas Insurance Agency (800) 643-7770.
Here is what I wrote in another insurance thread and the link to that thread which has lots of other insurance information.
https://www.speedsterowners.com/forum/readmsg.asp?t=22051
*****************************************************************
I left Hagerty, because they would not put it in writing that I could "occasionally" drive my car to work, let alone define occasionally. They will say it, but they won't put it in writing.
You guys with your $15k to $30k cars insured as 50s or 60s VWs. Aren't you concerned about what the value of an old VW is if you total your car?
I went with an "Agreed Value" policy for $30,000 from American Modern Insurance Group through Atlas Insurance Agency Inc. in Amelia Ohio. I have an "Occasional Commuting to Work" endorsment, which is listed on my Policy Declarations page.
My policy includes a "Collector Vehicle Occasional Commuting Endorsement" that deletes the "to or from work" restriction. Otherwise, it's the same as my old Hagarty policy with an "Agreed Value" of $30,000 for $411/year.
My "Declarations" page states:
Mileage Tier: Mileage limit of 6,000/year
Usage: Occasional commuting to work, Occasional pleasure use
It can't be my daily driver and I have to keep it garaged.
Atlas Insurance Agency (800) 643-7770.
I pay about $ 150.00 a year. Unlimited mileage, full coverage,
agreed value.....State Farm titled as a 66 VW. Of course I insure
2 other cars and my home and have been with my agent for over 30 years
agreed value.....State Farm titled as a 66 VW. Of course I insure
2 other cars and my home and have been with my agent for over 30 years
Someone please explain the difference between 'Agreed Value' and 'Stated Value' in policies...Thanks
Carl, I think you can state whatever you want, but if the insurance company doesn't agree to it you're SOL.
Although Hagerty is somewhat vague on their "where and how" you can drive your car, I have never heard of anyone having a negative claim experience with them. I think that they may know that one bad report on a large car group site could have a devastating impact for them, so they may tend to avoid any conflict unless some kind of horrific loss claim comes across their desk. I have both my replicas with Hagerty. Has anyone heard of any claims ever being disputed or denied by them?
I've had great claim experience with Hagerty when my car was damaged while being shipped across country to Hawaii.
A "stated value" policy means that the vehicle owner determines the value of the car. The insurance company uses this value to determine the amont of the annual policy, not the value of the car. Higher value = higer policy. Unfortunately, insurance companies DON'T use this stated value to determine the value of the car. That is done by an adjustor after an accident. In case of a total, depreciation, wear & tear, etc. will always lower the value. Insurance companies love stated value policies. How much is a totaled 1957 VW (or however titled with your state) worth? Answer: not the value you "stated" on your policy.
An "agreed value" policy is where the car owner and insurance company agree on ACV (actual cash value). This figure doesn't depreciate over time. Insurance company pays the agreed amount in case of a total. Policy owners love agreed value policies.
With the above comparisons, it's a no-brainer, eh? For those belt-and-suspenders types, just Google "stated value vs. agreed value policies".
An "agreed value" policy is where the car owner and insurance company agree on ACV (actual cash value). This figure doesn't depreciate over time. Insurance company pays the agreed amount in case of a total. Policy owners love agreed value policies.
With the above comparisons, it's a no-brainer, eh? For those belt-and-suspenders types, just Google "stated value vs. agreed value policies".
Crap, this thread made me pull out and open my policy through AAA/American Modern and finally pick thru the details. The two days a week to work that was "approved" is not in writing. Guess I'll be calling them tomorrow. It does say that to and from work is not covered which is what they will pull out if needed. Ugh.
Thats great info Jim. I'll be going Agreed Value for now on...Thank you.
Tom, I have had Hagerty since 2005. Two claims, totally awesome service too. One, an expensive rear-end into me by a pickup at a light, bringing a lady home after a dinner date, in 2006. Another happened in 2010, some spineless person rubbed their tire across my left front corner in a parking lot, coming back from Lime Rock Vintage festival. I can't recommend them enough, exemplary service for a very reasonable price.
Daniel.
Sounds like both of those inceidents occured while you were using the car for pleasure. Might have been different if you were going to or coming from work.
Sounds like both of those inceidents occured while you were using the car for pleasure. Might have been different if you were going to or coming from work.
Ummm. That's incidents, not inceidents.