Hot Rods Insuring Patina Cars

I have a 40 Ford Coupe (old Hot Rod) that I have been working on.
The outside is a mix of hot rod primer, old paint etc. that I am not going to disturb. It's perfect just the way it is.
The underside has fresh paint, all new brake lines, brakes are new, 350 chevy motor, all new wiring, all lights working, dimmer switch, tag light, hazard light and the car passed the safety check.
I am ready to start driving it so I called a popular modified hot rod ins company to insure it.
I sent in a app complete with pics and they denied ins on the car. I called back to ask why and they said if the car had a shiny coat of paint they would insure it. I questioned them about "shiny paint" and they said OK if I would shoot it with a clear coat that would be OK.
I told them I searched for this car for two years just to find the right outside patina and I am not going to put clear coat on it now.
Here is my question: I can insure this car through my car and home ins company but they say it does not qualify for their antique/classic program pricing because of condition, so the ins is twice the price.

Have any of you run into this problem? And who is the best ins company for this kind of car?

Thanks, Fred

 

How much is the car worth, ballpark? If it's 20k or less, I'd just get normal liability insurance on it, and not worry about it.

But I don't know your financial situation. Maybe you'd starve to death if you had a total loss of that magnitude?

(cars are just toys to me, not "investments")

 

I bet it was Hagerty.

Grundy insured this paint job...

 

I just insured my 51 AD 2 weeks ago. Have some serious patina , but like mentioned I just put regular insurance on it as opposed to special modified or collector type insurance.

 

Hagerty insures my '50 Ford....it's not shiny but it's all one color...

 

A friend of mine Insurance company refused to insure his 56 Chevy 2 door post car because of no paint other then primer. He came over to my house and asked if he could take a picture of my 56 which has shiny paint. Told him sure, anyone can take a picture of it as its out and about.

This problem will only become exacerbated as the so called patina and rust covered cars appear to almost out number the shiny painted ones.

 

Have Moose paint it.

 

Safco did mine for a stated value, no pictures and it's in primer.

 

Don't know why insurance compamies wouldn't ask someone for a picture of the car they are insuring. Seems as if its a good business practice. In the current computer age we live in a couple of clicks and a picture can be transmitted.

 

If ya dont like the answer from one, move on to another. Chrome , Grundy, Hagerty and who knows how many else.

 

I guess I don't understand. Insurance is about pooling risk, and premiums etc. Why do they care if it's painted or not? I'm sure it makes sense at one level, or they wouldn't refuse.

 

That's interesting, It seems to me that Hagerty really didn't care what my cars looked like. They seemed only concerned about what dollar value I wanted to insure them . Now if they had a concern about how well the car is built they should ask for more info so they can better evaluate the condition of the car. And then there is the occasional scammer that will insure a car at a value much higher than it is worth and then file a phony claim. Then there is the guy that has an accident because the car had as much patina (ie un-restored mechanical parts)on the underside as it does patina paint on the outside......

 

I have my '32 Ford insured through AMPAC.

They know the car was last painted in 62. HRP

 

perhaps they want to pool risk among folks who care about having nice pretty shiny cars?

 

worried that you will file claim for paint damage - should have taken picture in shade or near sundown - have it photo shopped here with a couple of starlight type highlights that look like reflection have appraisal done by Hot Rodder

 

Wipe it down with a rag soaked in diesel fuel or kerosene, then take some pictures of it while it's still "shiny" to send in to the insurance co. A few weeks out in the sun and rain it will look like it used to.

 

Wash it and while it is still wet take a picture.

 

My cars are covered by AAA, just regular insurance, full coverage, with a stated value. The cost is not much. Might be cheaper for the Classic Car insurance, but not so much as to make me want to jump through the hoops to get it.

 

That might be it, or one reason anyway.

 

Insurance fraud is always a good option... So, when you consider buying something, anything, based on photos the seller provides, you will be okay when it isn't even CLOSE to being the same as represented in the photos..... if you can say "yes' to that...proceed as directed.

Fraud is fraud is fraud. You deserve no better than you give. The insurance company only owes you what the contract provides....no more, no less. If you are not honest how can you accuse them of being 'unfair' or worse?? When you operate outside the norm, expect and be prepared to pay for the privilege.

Ray

 

I dont think photoing your car after wiping it with diesel is fraud. It is your car and thats what it looked like at that moment

 

Oh, you are a real 'Peach'. Bet people who have done business with you use a different term of description.

 

I've insured cars that were all apart and mid-restoration, they're not covered by homeowner's or property insurance in case of a fire or tornado or something, I never had a problem. Seems really odd that they'd refuse to cover your car based on condition when they'll insure a car that's in pieces.

 

^^^^^^^^^^same for me. I have cars insured that are 'in storage'......non-op.
photos are standard practice for anything I have insured, running or stored.

Ray

 

My insurance company didn't care about the lack of paint on either of my current projects, but they wouldn't give me an agreed value policy on my AD truck until I had door panels installed.

 

How about getting an appraisal and insuring for agreed value? Collector insurance is normally x amount per $1,000 and compared to comparable coverage for a daily driver, the premium is not unreasonable. I have never had cause to file a claim but knowing that the insurance company accepted my vehicles value based on an impartial, well documented appraisal should make it easier to settle a claim fairly. I had my ‘58 done this spring along with my ‘69 GTX which was last appraised way back in ‘06. The appraiser drove to my place, inspected and documented both cars with high res photos and a detailed report for $300. The truck was a fresh build and it came in about where I expected. As it turned out, the GTX was under insured by about a third. If it had been destroyed or stolen, I would have suffered a serious financial hit.

 

Maybe the amount of coverage he is seeking is out of line with the condition of the car. A lower value of coverage may solve the issue, or maybe pictures of the underside may be helpful. Gene

 

WADAT

 

Now I'm starting to worry...Hagerty is TOO easy.

Hagerty had insured my 32 Sedan delivery for 12 years at a "declared value" without ever asking for a picture. Recently traded the 32 to fellow HAMBer Hamtown Al for one of his '36 Cabriolets. Went to my ins. agent (who carries Hagerty) to transfer the insurance from the '32 to the '36. My agent called Hagerty gave them all the title info (serial # etc) and the only thing Hagerty wanted to know was; "modified or stock" and the "declared value"...2 minutes later I had a new insurance card for the '36.

When I got home I had 2 emails from Hagerty One was a bill for a $10 transfer fee (no problem) and the other was a survey "How was your Hagerty experience"?

NO REQUEST for more info on the '36 Cabriolet...or even a picture.

Now admittedly, Hagerty has been insuring all my rods for the past 40 years and I never had a claim,...but still...you would think that they would want to know what they are insuring.

 

I noticed some talking about "stated value" or "declared value". This is not the same as "agreed value" regardless of what your agent might try to tell you.

In simple terms agreed value is just that--you come up with a number and the insurance company agrees with that number. In the case of a total loss they are on the hook for the agreed amount.

On the other hand stated value is just your opinion. In the event of a total loss you are not guaranteed the amount of stated value. If your insurance man says they are the same you need to find another insurance man. An agreed policy will have the verbage "agreed value".