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Insurance question for classic modified

Discussion in 'The Hokey Ass Message Board' started by Blake84, Aug 10, 2012.

  1. Blake84
    Joined: Feb 4, 2012
    Posts: 738


    I searched here first and could not find exactly what I was looking for.... Sorry if it's a double

    I have 1959 ford f100 liability on as of now. I have put some money into the vehicle and want to have it insured for $8000. Here are my issues

    1. I want to insure truck for a value of up to 8,000 for what I have into it. They will no calculate modifications unless I do classic car insurance

    2 I don't have a garage so most classic car companies will not insure

    3 I have a truck and one company said I can carry NOTHING in the bed of the truck and I use for my bicycle.

    Does anyone else have classic car insurance that does not require a garage and is affordable and allows you to use the truck bed....

    It's my first older car with modifications so I'm new at this.....after my front suspension is fixed I want to do a new engine and it's one of my highest assets and I want to protect it......

    Any help would be awsome
    Last edited: Aug 10, 2012
  2. Da' Bomb
    Joined: Apr 8, 2005
    Posts: 438

    Da' Bomb

    I can't think of any classic insurers that offer a policy without a locked garage.....

  3. five-oh
    Joined: Jan 10, 2008
    Posts: 378

    from Arkansas
    1. HAMB Old Farts' Club

    A company call "Cornerstone" that I had my daily drivers insured through USED to insure Classics with an agreed value policy without a garage requirement or anything else. I had my '46 insured through them for the first year I had it and drove the wheels off of it. I have no idea how they pay out, ect, as I never had an accident, but it wasn't too awful high either.
    I changed because I took the '46 off of daily driver status and my rates had gone up considerably on all four cars I had insured there. Might be worth a look though...
  4. state farm
    american family
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  5. Retro Jim
    Joined: May 27, 2007
    Posts: 3,860

    Retro Jim

    When I first got my 55 Ford 7 years ago I got my classic car insurance through my Allstate Insurance which was my regular car insurance company . We had an agreed price and did all the pictures and so on . I didn't need a garage that locked up either . Not sure if they still do it but never hurts to ask .
    I have since built a 2 car garage and now have Hagerty insurance company and I have to keep the car locked up when not in use in the garage . Still have a agreed amount for the car .

    Retro Jim
  6. KeithDyer
    Joined: Mar 26, 2007
    Posts: 193


    I have State Farm Agreed Value insurance on my '57 Chevy and my '55 Ford pickup.

    25K on each.

    They wanted a photo of the vehicle and the interior.

    That was it.

    Take care, K
  7. GassersGarage
    Joined: Jul 1, 2007
    Posts: 4,729


    I friend of mine used Hagerty Insurance. His garage was full so he could only parked his car in a fence yard. Hagerty accepted this but that was awhile ago.
  8. hombres ruin
    Joined: Nov 21, 2006
    Posts: 3,301

    hombres ruin

    I have tried hagerty and they won't insure if you don't install low jack theft system. I was denied twice. I have a garage and kill switch but they want low jack so I went with Allstate
  9. jetslide
    Joined: Feb 18, 2012
    Posts: 118

    from norway

    interesting thread, how easy it`s in norway with insurance, i drive a 65 chevelle, all i had to do was show the car to an insurance guy and he set the value to 30 000$, for that i pay 30$ a year, they dont ask where i park the car, or if i have it in a garage
  10. squirrel
    Joined: Sep 23, 2004
    Posts: 46,115


    The kids recently got their own car insurance, and the insurance on my two late 50s chevy trucks went down to $35 per six months per truck. Unfortunately it's only liability insurance. Fortunately I could afford to lose them....and one could not be replaced at any price, anyways (I've had it for a long time).

    I did ask my agent about an agreed value policy, but he never got back to me. I need to ask again. It's more expensive than the typical collector policies, but it might let you use your truck as a truck. No way would I insure an old truck in a way that would not let me use it as a truck.
  11. flip
    Joined: Jul 15, 2006
    Posts: 118


    I use State Farm. Cheaper, less restrictions on driving than Hagerty. Also they don't require collinsion ins. when in storage like Hagerty does. Have never had a claim so don't know about that.
  12. American Family, you agree on a price or value with them and they write it on your regular policy. At least they do in Missouri meybe insurance laws are different in your state.
  13. Old Dude
    Joined: May 12, 2006
    Posts: 193

    Old Dude

    Do you drive it every day? If you do, you can't Insure as Collector vehicle, unless your drive for Recreational use only. I have been into Hot Rods, Street Rods, Muscle cars, and Classics for over 45 years. Each Insurance Companies have their own set of rules. Banks & Insurance Companies usually send to me for stated value around this area. It can be Insured for Stated Valuer, by a appraiser!

    Recreational means occasional use, some 5000 miles, some a little more. R V's are considered occasional use, Boats are occasional use.. Is there a Appraisal Co. around you that are resonalble? I have updated my appraisals to include a lot of things, that other Companies do not have, including yours. I have been with Westfield for over 20 years. I had some problems with a Agent from Nationwide Ins. He lost his business after awhile. We now have a good Rep. for Nationwide Ins. Your Ins. is as good as your Agent.
    Cruise on, Old Dude
  14. OhioFord83
    Joined: Mar 12, 2012
    Posts: 6

    from Dayton, OH

    Make sure you read the fine print in your policy and ask your agent to put in writing that you indeed have an "agreed/guaranteed value" policy. SF does not write "agreed/guaranteed value" policies, they use "stated value" policies for customers who request coverage for their classic/vintage/collector vehicles. "Stated value" policies allow for depreciation to potentially be factored in at the time of loss, therefore making it completely different from an "agreed/guaranteed value" policy.
    Hagerty does not have any type of annual mileage restrictions/limitations. The only type of driving restrictions they have are related to vehicle usage(example: daily driver/commuter, using vehicle to pick up lumber at hardware store, using vehicle when your regular use vehicle is in the repair shop, etc.). Basically, as long as the vehicle is used for "pleasure driving/usage", (which is exactly what the majority of us enthusiast do with our vehicles) you are perfectly within the guidelines of a Hagerty policy.
  15. Mr.Dickies
    Joined: Jan 23, 2007
    Posts: 664


    I had my 66 GMC 53 Henry J and 50 Ford insured through State farm for years. But a few montsh ago I mailed my mileage report to them and I drove 2700 miles and the girl entered 27000 miles and they raised my rates tried to get them to lower it but they said nothing they can do unless I get a quote from another policy. I switched and they got mad and said they would match the other offer. I just felt like why make me go though that trouble to stay. But yes State farm will settle on a value and charge you for it. My HJ at $5500 was $82 a month. Hope this helps.
  16. Standard32
    Joined: Oct 15, 2006
    Posts: 1,014

    from LA

    I'm looking at finding somewhere else to get insurance...

    Are any of you using ANPAC "Chrome"?...I saw them in Louisville (NSRA) this summer...

    I'm limited on who I can choose because I've found that most "collector car" policies do not cover anyone under 25 years old...

    Squirrel...$35 for 6 months? that a typo...or did you mean you're paying $35 less than you were?
  17. OhioFord83
    Joined: Mar 12, 2012
    Posts: 6

    from Dayton, OH

    Hagerty will insure drivers under 25 years old....I was 23 when I started insuring with them. They are really one of the only collector car insurers that cater to the younger drivers, as well. Check out the "Hagerty Driving Experience".
    They're actually encouraging young folks to get involved in the hobby....pretty cool. Wish they would have had this when I was younger!
  18. pasadenahotrod
    Joined: Feb 13, 2007
    Posts: 11,776

    from Texas

    And IF you don't drive it every day, you might rethink the use of that vehicle.
  19. 3Deuce40
    Joined: Oct 17, 2006
    Posts: 690

    from Colorado

    CHROME is excellent.
  20. squirrel
    Joined: Sep 23, 2004
    Posts: 46,115


    My 55 is about $150, trucks are each about $35 each six months. No typo.
  21. Sweepspear
    Joined: May 17, 2010
    Posts: 292


    This is from State Farm's website.
    "When you insure your antique or classic car with us, you and State Farm will agree on the value of the car. If the car experiences a total covered loss, we will pay this agreed upon value, rather than the actual cash value of the car."

  22. customrod48
    Joined: Oct 10, 2010
    Posts: 201


    I have an agreed upon value policy through Farmers Insurance Group. The only restriction is the amount I drive it. It's a matter of not being used as a daily driver ........ I did have a claim, was rear ended by a hit and run, had no problems getting it fixed where and how I wanted it done. My advice is make sure you know what you are getting when you get it so you aren't surprised if/when you have a claim. The idea is to have it covered, not fool the insurance co.......
  23. OhioFord83
    Joined: Mar 12, 2012
    Posts: 6

    from Dayton, OH

    With all due respect, the statement from their website does not constitute that they do in fact write an "agreed / guaranteed value" policy. Nowhere does their website read that they insure your collector vehicle with an "Agreed Value" policy. The policy itself must read that it is an "agreed value" policy. I have several friends that are SF agents and they don't even insure their collector vehicles with SF, they insure them with Hagerty and Chubb.
    I am not hear to disagree with you, just trying to clear any misconceptions.
  24. mustang6147
    Joined: Feb 26, 2010
    Posts: 1,847

    from Kent, Ohio

    I have State Farm ins. Agreed value, all contents. And am very happy.

    Many of my friends have switched to State Farm, after I was involved in an accident while in Fla. They couldnt have been more helpful and acomodating. I will never change ! My house was nailed by a twister. $60,000 later I am very happy!

    My agent came out took pictures of my hotrod, and my policy is way cheaper them Any classic car ins. co. I wont change...
  25. Angliaguy
    Joined: Jan 21, 2008
    Posts: 108


    I had State Farm before with a stated value but was told that State Farm has in fine print that they have the right to revalue the vehicle at the time of the claim therefore the agreed stated value is worthless. I wanted to increase the policy and they would not
    so I changed. Glad I did as that is when I found out about the fine print.

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