Insurance Issue Part II-Daily Driver Coverage

[Joe R #20442]

I posted a previous message about problems getting collector car coverage-no need to regurgitate that discussion.  As an alternative-does anyone have full coverage for their antique/classic with no restrictions on usage?  Some companies will cover a car, but only with cash value-not actual value.  Cash value on a 40 year old car which cost $5500 new is about enough for a tank of gas if you have a total loss.  So in effect, coverage would be liability only with no coverage for the insureds vehicle if at fault.

Again-my question is.... does anyone have replacement value/no restriction insurance on their old Caddy?

Joe

[Michael Stamps 19507]

That is one thing that I discussed with USAA.  They didnt have a problem with it at all as long as I sent them pictures of it and of course paid them more money.

Stampie

[Matt Mersereau]

I have my 68 CDV insured with Aon Collector Car Insurance. I have an agreed value policy, and there are no restrictions. They do require proof that you have at least one other car per driver in your household. That being said, their intention is not to insure a daily driver, but I like the no restrictions policy. The best part is that with an agreed value of $7,100, I pay a premium of $100 per year. The $7,100 was the NADA value when I bought it. I really need to call them and get it increased to the current NADA value of $8,200.

http://www.aoncollectorcar.com/index.jsp TARGET=_blank>http://www.aoncollectorcar.com/index.jsp

[Joe R #20442]

Michael-do I understand you correctly that USAA was willing to cover an agreed upon value of the car for collision coverage?

[George Woodford clc21025]

The antique tagged vehicles I have are insured to an agreed to value.  I used the values from Car Prices Guide to establish a value.  This past year I requested an increase in value for one of my cars.  My agent ask me to bring the car to their office for more photos.  The insured value was increased to the value I requested.  The agent only ask me how many miles I plan to drive the car per year and the address where I will keep the car.  As long as I follow the DMV regulations for use of an antique vehicle, there would be any issue.

[George Woodford clc21025]

"there would NOT be an issue."

[Michael Stamps 19507]

Yes ... that is exactly what I was asking them about.  They said the underwriters would have to approve it but it didnt sound like a big deal.

Stampie