Insurance

I can now park my 1996 immaculate stock DCM 142,000 mile wagon in the garage.

I don’t drive it much and can get classic car insurance. How much can I insure it for?

Thank you,

Russ

I have mine insured through Hagerty and have a $10K Value on it.

I have mine through State Farm which carries all my insurance home and 6 vehicles and the rates I have on my toys the wagon ($10000.00 ),Chevelle ($65000.00 and Solstice ( $20000.00)were better than Hagerty who I had in the past . One thing you need as far as a "Collector Car Insurance " / Agreed Value goes is to have documentation as far as the condition of the car and modifications . Pictures and receipts for anything purchased /work done will go a long way to help you justify the value of your car because in reality the insurance companies look at these at best as a $1000.00 car

I have my 87 Pontiac wagon insured through Hagerty, but only for 6,000 as that's what it was appraised at. Also paid for their drivers club gear 3 which includes 150 mile towing from point of pickup, for any FAMILY vehicle, not just vehicles insured by Hagerty.

but I have my 94 rmw daily driver insured for 5,000 which is it's appraised value, not insured through Hagerty, but the company was willing to honor the appraisal once I sent them a copy of it.

Wojtek wrote:

I have mine through State Farm which carries all my insurance home and 6 vehicles and the rates I have on my toys the wagon ($10000.00 ),Chevelle ($65000.00 and Solstice ( $20000.00)were better than Hagerty who I had in the past . One thing you need as far as a "Collector Car Insurance " / Agreed Value goes  is to have documentation as far as the condition of the car and modifications . Pictures and receipts for anything purchased /work done will go a long way to help you justify the value of your car because in reality the insurance companies look at these at best as a  $1000.00 car

I also have my insurance with State Farm.  I have 5 cars, 3 of them are over 25 years.  Besides having an agreed upon value, they are insured as antique vehicles; and it is dirt cheap to insure them.  The Caprice wagon with full coverage, $5500 value costs $120 a year.  The 94 Cadillac FW with full coverage, $6500 value costs $140 a year.  The 96 Cadillac FW with full coverage, $7500 value costs $160 a years.  So for the 3 of them, it costs less than $400.  That is cheap.

I remember at first, my State Farm guy said they didn't have any antique car rates.  I knew they did.  I pressed him on it, he checked and voila. Before they turned 25 years old, I used to take the insurance off from Nov to May. But it's so cheap, I don't bother anymore.

Tom

And a lot has to do with your agent my Solstice is a newer car 2007 but I have it registered in Ohio as a Collector Car and the wagon and Chevelle are Historical Vehicles . All 3 have limited mileage per year but here in Ohio they are stored 5 months out of the year .

An appraisal goes a long way into getting an agreed upon value insurance policy. Documentation is also very helpful incase of an accident, receipts for new tires as a more expensive example... Pictures of all angles of the car showing how original it is, ect.

A buddy of ours does appraisals if your interested in one: http://ncautoappraisal.com/ He comes out and takes pictures and gets documentation of the vehicle and puts together a nice booklet for you.