I’m wanting to insure my 36 but I’m running into a problem and was wondering if others have the same issue. Most CC insurance companies want your car to be garage kept. My garage is my shop with nowhere to keep a car. My cars are kept in an enclosed, privacy fence with locked gate, 14’x48’ carport attached to the garage. Anyone with a company that doesn’t ask for this?
I've used Hagerty for the past few years, and I don't recall them ever asking me where I keep my car. But then again my stuff isn't high value
If you tell an insurance company something that isn't true you will have voided your insurance. So you've spent money on nothing and they will get their kicks for free!
I have Grundy and to date I've never been asked about a garage. I currently have some high value cars insured and have in the past. They have not gotten real excited about insuring my builders but they have.
Are you guys sure the Grundy hasn't asked about your cars being garaged? They sure did when I looked into it. I use Triple A, agreed upon value, they do not ask about them being garage kept. When I was rear ended a year or so ago they handled it most excellently, I couldn't have asked for more. They even waived the deductible. Cost is very reasonable, though I have a multiple car/mulitple policy discount with them. Plus the Auto Club.
Insurance rules & regulation & rates very from state to state ,that's what your state insurance commission & commissioner due .
Here's the scoop on AGREED VALUE INSURANCE. I just insured my 40 Ford with Hagerty and they asked where it was stored. I am in south FL. GREED VALUE INSURANCE - Search (bing.com)
Some companies call it agreed value, some call it stated value. Simply the value that you put on the vehicle that the insurance company agrees to. You say it is worth XX $ and they check their comparisons and other price guide info and either agree with that or tell you what they will insure it for.
I used to have just liability on mine but my agent told me their company would put me on their "specialty" insurance for a cheaper rate and with agreed value. If I remember right, they're supposed to be kept in a locked garage. Gary
Yeah, but every time I ask another of the specialty insurance places about doing that, and tell them what I do with my cars, they kind of laugh at me..... they don't like to insure people who actually use their cars as cars, from what I can tell.
They will generally agree to any value you put on it.......... as long as you agree to the terms and premium they apply.
Also known as "risk limitation". They are very good at tilting things for their benefit. It has to be, after all, a profitable enterprise for them. Insurance is not, and has never been a community service.
For most of my life I just put liability on my old cars, but for some reason I called Hagerty about one of my model A Ford's and it was the same price to put full coverage on it with like $20,000 agreed value! So I've been doing that, just in case my car burns or a tree falls on it lol
As an insurance agent for 20+ years, remember that the LARGE print giveth, the small print taketh away.... Also, it's pretty standard now that any racing event, be it spontaneous or organized, automatically voids coverage. My recommendation is that you get all correspondence or communication in writing to protect yourself.
Agreed value is very different from stated value. Agreed value sets the dollar amount of the car's value as long as the premiums are paid. A stated amount is what the car was worth when the policy was written. As time goes on, most insurance companies lower the amount covered by the stated value every year, because that value is subjected to depreciation and value loss from being used, but the premium remains the same. If a car has an agreed value of $15,000 and is totaled, the payout is $15,000 If the car has a stated value of $15,000, in 5 years the insurance might value it at 10,000, and should it get totaled, the payout might be $10,000 or maybe even less. you will have to prove the car was still worth the $15,000 the stated value said it was worth. I've never seen specialty insurance coverage issued without at least verifying pictures of the vehicle, it has to be worth the insured amount at the time the insurance is issued. For the record, my 39 Dodge pickup in "stock" condition wasn't worth $15,000 coverage, but as a modified street rod, I could have insured it for a lot more, go figure! And yes, most specialty insurance has a list of restrictions. Nearly every old vehicle I have ever had was liability coverage only, and real regular vehicle license plates, I can drive them any time, any where, and as much as I want. As far as stored in a locked garage, I would ask if being stored in a covered, secure location would work. The only time I could see a problem with the vehicle not being in a "locked garage" would be in the event the vehicle was stolen. If it was expected to be in a locked garage but was stolen off the street in front of your house during the night, I can see a ligament problem with the insurance company over that, however if the car was damaged in a crash, where it was the night before shouldn't be a ligament concern.
My insurance company insures my in-process coupe. I asked them to insure my race car for fire and theft while it was in the trailer or the shop. No way. I don't think they heard anything after "race car"...
I have several Hagerty policies. Be sure to check with your agent about an endorsement they offer, at least here in Colo., that allows you to keep your car, and get paid your agreed-upon dollar amount, if your car is totaled for any reason. In Colo. this option runs about an extra $50yr..
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