Insurance Survey

[spidernut]

Who do you have as an insurance carrier, is it replacement value or standard collision coverage, is it collectors insurance with limited mileage or "normal" car insurance, and how much do you pay yearly?

I have Hagerty, replacement value of $5,500, collector's insurance, limits on the mileage driven, cost is $88 per year

[NJFIAT1981]

Hi Spidernut,
Here's my current ongoing story. On 03/30/12 my restored spider was totalled by a new driver. I was injured in the crash. I called my insurance company immediately. They couldn't have been nicer on the phone. Adjuster arrived a few days later and proclaimed the Spider a total loss. (BTW He was a nice guy too)
A couple phone calls later my adjuster (Another nice guy) advises me that I can purchase my spider back from the insurance company for $425.00. I agree. Check for total loss minus the buyback and deductable arrives a few days later. Included is an additional 2% that they added for inflation.
So far all medical bills have been fowarded to the insurance company. My insurance company advised that they will be recovering the loss from the other drivers insurance company and will also recover my deductable.
A few days after the accident letters from lawyers start showing up in my mailbox. All wanting to represent me. How nice. The other drivers insurance company calls and advises that they would like to offer me a settlement in addition to the payment by my insurance company. Interesting.
Other than the fact that my spider was crushed and I was injured everything has turned out ok. My insurance company has been very professional. I would recomend them without reservation.
American Collectors Insurance Company, PO Box 8343, Cherry Hill , NJ 08002 800-360-2277
American Collectors is part of American Bankers Insurance Company from Miami, Florida
The Spider was insured for agreed upon value of $11,000.00 with a $100.00 deductable. Premium $104.86 per year. I'll let you know how the rest of the story plays out. But I have to say that American Collectors is the way to go as far as collectors insurance.

[spidernut]

Since you had collector's insurance, what were their mileage limits per year for driving the car?

[Jimb]

I have collector insurance on my Volumex up here in BC. Total cost per year is $220. Mileage is unlimited; in fact the only restriction/condition is you can not drive it to and from work. While they say I'm covered for replacement cost, it would be a challenge to determine that. Jim

[courtenay]

Jim, I've applied for Collector Plates and am waiting for their decision. The premium I've been quoted is the same as yours. I've also gotten a quote from Haggerty for an "agreed value" policy ($10,000) for $400 per year. I'm thinking about going with ICBC for liability and Haggerty for collision. Total premium still less than the regular rate for a year with ICBC.
Bruce

[Jimb]

As long as your car is in good condition and not modified there wont be a problem with getting it I'm sure. I had to remove the stereo and put in a blank plate. I've had many cars on collector insurance with ICBC and never a problem. One time a girl ran a red light and plowed into me. I had my car re-restored with no hesitation on their part. However I really should get an agreed value with the Volumex; I can find two for sale overseas at the moment and they would both be well over $50k landed here.
Jim

[courtenay]

I've done the blanking plate as well. The only thing that might trip me up is the Rota wheels. They are kind of Panasport knock offs, though, and are period correct. I do have the original Chromadora wheels that I can put tires on if I have to.

[ga.spyder]

I have collector insurance that is offered by State Farm.No mileage restriction,car must be garaged,agreed value of 12000.There is a $200 deductible.I started to change to Haggerty,with about the same rates.I havent because I have so many policies with Stae Farm,and know everyone in the office and the agent on a first name basis.They were great when my car was hit a couple years ago.Just another option.Cost is around $200 per year,full coverage incl. road service.

[courtenay]

Just ran the numbers again with Haggerty Canada. With agreed value $10,000 and $1m liability and $1m Underinsured motorist coverage, $100 deductible on collision and comprehensive - premium is $194 per year.

[NJFIAT1981]

Mileage is limited to 5000 miles per year

[ga.spyder]

That is great that they let you buy the car back.I know you have way more than $425 in parts and mods!!

[NJFIAT1981]

That is correct. Stripped just about everything off of the body. Lots of parts.

[BEEK]

my 77 is insured with hagarty, 7500 agreed value, with antique plates i have no milage limits. it is interesting the different limits and prices offered by the same company. im in florida no tickets or accidents in over 20 years, before that we wont mention. but im paying 155.00 / year

[ga.spyder]

When we moved to Ga.(rural,small town) from SoFla,Stae Farm had to write me a check for almost $1000 for overpayment.The rates are less than 1/2 here what we paid in Fla.I think that is common practice with all ins.,even collector.Most wrecks here are single car,or car vs. deer..or cow..or bear!

[courtenay]

Car vs large animal is not going to be good for the car. On our recent trip to Australia, we noticed a lot of cars in Western Australia had large bush bars mounted on the front. Not just SUV's, even sedans. We also noticed a lot of "road kill" kangaroos. Don't think our Fiats would look too good with bush bars...