Agreed Value policies for classic or near classic daily driver?

[dochawk]

Has anyone hunted down coverage to get an agreed value policy for a classic or near classic as a low mileage daily driver?

It shows up on Hagerty, but it's a trap! (I talked to them about that).

I have very little driving anymore that *isn't* something Hagerty would permit.  Heck, once I get these all going again, I'm going to have to make up reasons to drive to keep them charged!

Anyway, Hagerty insists on our having a daily drover, so it's probably be something like a 2000 or so Deville (a 200-2004 DHS in nice crimson perl would break perfect!).  It won't get many miles, given that it will be competing with five more 

But I *don't* want to get it nice and pampered, and have a huge loss waiting when one of our local idiots hits it.  [several months ago, a couple of little old ladies couldn't see my white Fleetwood at a stop sign in a black parking lot!]

any thoughts or experience would be appreciated.

[gkhashem]

So you want to drive your classic as a daily driver but want classic car insurance for it?

While I think little of insurance companies, that seems to be like having your cake and eating it too.

The reason the classic car insurance is reasonable is because you are not driving it everyday on the dangerous roads out there. More driving by logic means more opportunity to get hit.

I guess if you want to do that, I do not think other policy holders need to subsidize this. So they should charge you a lot for the idea. If you do not like that get a "junk" as the daily driver.

I take from what you are saying you drive very little, ok I still say get a nice used car. My favorites are 1991-1999 Olds 98,88 Buick Park Avenue or Lesabre. The problem is these are getting these is harder.

They could be found 5 years or so ago with low mileage for $4000-5000 but getting scare and when found they want more.

[Cadillac Jack 82]

Most insurance companies will only insure for liability only when it comes to classic cars.  I used to drive a 68 Barracuda daily and chanced it with liability.  Luckily nothing bad happened but it was a risk I took daily.

[Clewisiii]

I was almost thinking the classic car insurance was requiring him to have a different insured car as a daily driver. And he only wanted to have the one insured car. 

But I could be mis reading.

[dochawk]

What I'm after is insuring for enough to replace something that's nicer than KBB.

I know full well that I won't get classic car rates; that's not the point.

Rather, it's to have this other car be something I want.

Liability only on a beater is about as much as the 5 on my Hagerty policy.

Most of my driving is actually to car things.  Following that is taking my wife to dinner and church.

Other usage is her driving a mile or so to Walmart every week or two, an 8 each way to her hair person every 4-6 weeks (during the day, to a driveway she parks in).

A road trip maybe every three months, about 450 miles each way, and a bit when we'e there.

So, really, what I'm looking for is to be able to spruce up a $2k-$5k car to nice driver level, and be covered under comp and collision for actual replacement cost (which be under $10k, most likely).  For that matter, it would get *treated* like a classic on things like parking off in the boonies with noone else around,, and such.

I have five . . . [counts on fingers] . . . yes, it's five--for my classic policy.  together they're about as much as basic liability for a beater (at 300k/300k). 

It's not about trying to get a lower liability rate (although given the limited miles, except for long road trips, that would sure be nice).

I used to pay to have an extra $1,000 of comp/collision coverage on my '97 Eldorado Touring coupe, which was customized before I bought it, with Safeco. 

[Eric DeVirgilis CLC# 8621]

What I'm after is insuring for enough to replace something that's nicer than KBB.

Classic dilemma where it comes to insuring a high condition older vehicle for daily use. Unfortunately there's really no way around it. Perhaps explain the situation to your agent to see if an extra rider might be available but I wouldn't count on it.

From the insurer's point of view, there are too many "unpredictables" the older a vehicle becomes, especially when the source & cost of major parts can be highly variable. 

[TJ Hopland]

Isn't another 'catch' with most classic policies that your 'daily driver' has to have full coverage too?  I seem to remember them almost not approving me because my dailies tend to be older too and at the time it was maybe 6 or 7 years old. Like someone else said having a 2003 Park Ave with just liability may not qualify.  Seems strange if the only reason is they want to make sure you actually have a daily driver.

[Eric DeVirgilis CLC# 8621]

Isn't another 'catch' with most classic policies that your 'daily driver' has to have full coverage too?

Wasn't the case with JC Taylor for me.

[GregoryAlan]

Isn't another 'catch' with most classic policies that your 'daily driver' has to have full coverage too?  I seem to remember them almost not approving me because my dailies tend to be older too and at the time it was maybe 6 or 7 years old. Like someone else said having a 2003 Park Ave with just liability may not qualify.  Seems strange if the only reason is they want to make sure you actually have a daily driver.

My understanding is (and I reserve the right to be wrong) is:

I have Hagerty for my 'collector' car insurer. I am required to have a daily driver insured with one of them name brand home and auto insurers.

I can use my 'collector' car for shows, a cruise, going to the repair shop.
I am not suppose to use it for normal daily activities, like going to Walmart.

When I chatted with Hagerty about wanting to drive to work maybe once in a while the gal I talked with wasn't too concerned about that. I was told that even at the Hagerty where she worked out of they had one day a week where they encouraged their employees to bring a car to work day.

In Minnesota my cars have collector plates which limits what driving I do with those cars. 90% of the time no one is going to care, usually they enjoy your cars as much as you do. All it take is that one person or official that wants to give you a bad day and hassle you about the use of your 'collector' car. I guess the point I am trying to make for my driving is Hagerty was not concerned about my driving within the limits of my license plates.

If I was using the car as a daily driver I could get away with it until the first accident...
That is not the intended use of a collector car policy.

My daily driver insurer is State Farm. They have no problem insuring my 'collector' car as a daily driver. Forget about the stated or agreed value. When I talked to them about stated or agreed value they had no problem with my value of my car. My agent also told me that those values mean nothing. If I made a claim they would figure a value just like they do on any daily driver no matter what I state or agree to...

[GregoryAlan]

Wasn't the case with JC Taylor for me.

My buddy insured with JC Taylor and he told me they were also on board with him using has car as a daily driver. I didn't believe him. He can be a bit of a wind bag.
In his case he also had more than one daily driver in use for his family if that made any difference...

[dochawk]

I've talked to someone else who told me that JC Whitney had no qualms about his only cars being the collectors that he insures.

Hagerty has mellowed *a lot* in the fifteen years or so I've had them.

Initially, they wouldn't touch the car until I showed them a picture *in* the garage.  They noticed the claim on my Miata for damage while in my driveway (heavy winds, basketball hoop . . .).

At the time, it was shows, parades, car club, and pleasure driving.  When I asked about taking my wife to dinner, the reply was, "We'd rather you go to a drive-in."!

Now, a "blue moon" trip to work is actually something they mention as permitted.  They also have trip interruption riders.

Every licensed driver used to have a daily driver; now they note that one can be enough for retired non-commuters, and it might be the case, in some communities, that a bicycle could be enough.  [a golf cart certainly could have done it in my mother in law's development.]

I accept that I need one, and am quite willing to have something that I don't need to be *as* careful about where I can go.

I'll check with State Farm and Safeco in the coming days, and probably JC Whitney.

The particular car that I had my eyes on, though . . . owner was in fantasyland about the price.  Great shape, I would have loved to have it, but not going to pay four or five times what it's worth!

[Abe Lugo]

Locally a fellow I know has his 79 Benz with Mercury insurance as his only car.

[dochawk]

Forget about the stated or agreed value. When I talked to them about stated or agreed value they had no problem with my value of my car. My agent also told me that those values mean nothing. If I made a claim they would figure a value just like they do on any daily driver no matter what I state or agree to...

But that's the difference between "stated value" and "agreed value" policies.

Stated value functions as you describe, while agreed value locks in that value.

Also, stated is about the value of the car, while agreed can include the search and replacement costs that would be incurred in finding a comparable car.





[/quote]

Forget about the stated or agreed value. When I talked to them about stated or agreed value they had no problem with my value of my car. My agent also told me that those values mean nothing. If I made a claim they would figure a value just like they do on any daily driver no matter what I state or agree to...

My understanding is (and I reserve the right to be wrong) is:

I have Hagerty for my 'collector' car insurer. I am required to have a daily driver insured with one of them name brand home and auto insurers.

I can use my 'collector' car for shows, a cruise, going to the repair shop.
I am not suppose to use it for normal daily activities, like going to Walmart.

When I chatted with Hagerty about wanting to drive to work maybe once in a while the gal I talked with wasn't too concerned about that. I was told that even at the Hagerty where she worked out of they had one day a week where they encouraged their employees to bring a car to work day.

In Minnesota my cars have collector plates which limits what driving I do with those cars. 90% of the time no one is going to care, usually they enjoy your cars as much as you do. All it take is that one person or official that wants to give you a bad day and hassle you about the use of your 'collector' car. I guess the point I am trying to make for my driving is Hagerty was not concerned about my driving within the limits of my license plates.

If I was using the car as a daily driver I could get away with it until the first accident...
That is not the intended use of a collector car policy.

My daily driver insurer is State Farm. They have no problem insuring my 'collector' car as a daily driver. Forget about the stated or agreed value. When I talked to them about stated or agreed value they had no problem with my value of my car. My agent also told me that those values mean nothing. If I made a claim they would figure a value just like they do on any daily driver no matter what I state or agree to...