How costly is insurance on a kit car?
If I pay $1200 a year for 2 daily drivers, how much would I pay for a kit car that would see less than 3K miles/yr?
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How costly is insurance on a kit car?
If I pay $1200 a year for 2 daily drivers, how much would I pay for a kit car that would see less than 3K miles/yr?
If I pay $1200 a year for 2 daily drivers, how much would I pay for a kit car that would see less than 3K miles/yr?
Joel,
Assuming that there is a "daily driver" for each licensed driver in your household, you can insure your car with a specialty company like Hagerty quite reasonably. Based on your statement that you will be driving less than 3,000 miles per year and you can live with the restrictions, you can insure for two to four hundred per annum, depending on your policy limits and coverage elections. Just make sure, regardless of who writes the coverage, that you get an agreed value policy so that you will not get screwed if you have a theft or serious property damange accident.
John H.
Hagerty customer
Assuming that there is a "daily driver" for each licensed driver in your household, you can insure your car with a specialty company like Hagerty quite reasonably. Based on your statement that you will be driving less than 3,000 miles per year and you can live with the restrictions, you can insure for two to four hundred per annum, depending on your policy limits and coverage elections. Just make sure, regardless of who writes the coverage, that you get an agreed value policy so that you will not get screwed if you have a theft or serious property damange accident.
John H.
Hagerty customer
This question is covered in the "Knowledge" section starting with article #110
-=theron
-=theron
Grundy Insurance is another one that will insure a kit or custom built car. I believe their pricing is very similar to Hagarty's. I was quoted $350 per year, unlimited miles with an agreed value of $20K. Unlimited miles - you must show proof that you have another vehicle as your daily driver.
I have my car insured by Hagerty. $134 four 12 months, zero deductable, estimated replacement value of $15,000 for my car. You have to have a locked garage to store it in and demonstrate you have other vehicles for your daily driving.
I had a claim; Hagerty paid promptly and were a breeze to deal with.
Keep in mind they sell policies for collector cars ONLY, and while they don't set a mileage limit per se, the insured car cannot be used as your every day/work vehicle. I suppose you are sorta on the honor system, but I certainly would NOT fudge on their restrictions. If you want a daily driver Hagerty will not cover you, try someone else.
I had a claim; Hagerty paid promptly and were a breeze to deal with.
Keep in mind they sell policies for collector cars ONLY, and while they don't set a mileage limit per se, the insured car cannot be used as your every day/work vehicle. I suppose you are sorta on the honor system, but I certainly would NOT fudge on their restrictions. If you want a daily driver Hagerty will not cover you, try someone else.