Classic Car Insurance

**98ramairguy** · 10-26-2013, 09:14 AM

Just wondering if anyone with a 1998 or older has classic car insurance on their car. I was told by some people as long as its 15 years old or older it is considered a classic. My 1998 Trans am is no longer a daily driver in fact I only drive it about 1000 miles a year and if I could save a bunch of money on insurance it would be great.

If anyone has any information on this or knows of a good agency to insure my car let me know

**35th-ANV-SS** · 10-26-2013, 10:13 AM

Do you have low mileage insurance? I do on 2 of my cars.

**98ramairguy** · 10-26-2013, 10:18 AM

I have 71k, used to be my daily driver except in the winters. I bought it with about 22k on it. Now I just drive it here an there in the summer for pleasure. I put about 750 miles on it this summer is all

**35th-ANV-SS** · 10-26-2013, 01:07 PM

Low mileage insurance is insurance for vehicles you drive less than 7500 miles a year, it doesn't have anything to do with the mileage on the vehicle itself. You can qualify, but you need to show proof of mileage to qualify.

**SteveC** · 10-27-2013, 06:17 AM

You can use my vehicle as a reference point, Sara (2001 Z28 purchased 12/00) has 37K total original miles.

I have State Farm auto insurance full coverage. Based on the mileage I drive per year (<3k) I pay $370 a year (which I still think is way to much) keeping her garaged.

SteveC

**2002ssslp** · 10-27-2013, 07:23 AM

I had my 02 SS on classic car insurance for 325.00 year with 3k miles. Classic Car Insurance for Collector, Exotic and Antique Automobiles | Heacock Classic

**speedyWS6** · 10-27-2013, 09:00 AM

Once again you guys strike paydirt compared with us Brits!

I have finally got my new 2002 home and after a REAL good ring around
i have got a good all singing and dancing policy with recovery included for £290
which translates to $470. This policy also has a yearly limit of 3000 miles.

And it won't stop raining so i can't even drive it!!!!

**kingls1** · 10-27-2013, 09:55 AM

I have looked into Hagertey they have a good policy, agreed value, unlimited mileage, how ever No Racing, or running to the store to pick something up, just car cruise, show, etc. they want you to use your other car for anything else. Say you need to run to lowes to grab something small and it's a nice day to bad take your 2nd car. Grundy has a new policy for newer cars with agreed value, unlimited mileage, and at the track your covered in the pits until you pull to the start line then covered once you hit the pits. I will be looking into this come spring. I have spent over $6,000 in upgrading my car and with State Farm it's worth a stock 1999 Trans Am maybe $8,000 at best. I want coverage to cover what I have into it if something bad should happen. If anyone knows of other coverages please list them.

**Firebirdjones** · 10-27-2013, 03:39 PM

I've used Hagerty and Grundy both with no real complaints. Currently use Hagerty for the expensive classics, and use State Farm for the "not so" expensive classics. I also keep "up to date" appraisals on all of them along with a folder on each car with receipts, video, and many pictures of the cars current state just in case something might happen, and my insurance companies also have copies. I'm covering my butt.

Kingsls1, if you check with your state farm rep, they do have reduced rate classic policys on an agreed value with no mileage limits and the rates are cheaper than your normal policy. I'm fine with them covering the less expensive cars that are still relatively easy to replace. However for something that is out of the normal price range I prefer a classic insurance company that specializes in these sort of things where parts and pieces can sometimes get astronomical in price and hard to find. Somehow I just believe a place like State Farm who is just in the business of insuring "everything" wouldn't be as understanding or as knowledgable if the time ever comes.

**silverWS6** · 10-27-2013, 03:47 PM

Originally Posted by SteveC

You can use my vehicle as a reference point, Sara (2001 Z28 purchased 12/00) has 37K total original miles.

I have State Farm auto insurance full coverage. Based on the mileage I drive per year (<3k) I pay $370 a year (which I still think is way to much) keeping her garaged.

SteveC

Holy fuck! I just did the math and I put about 2k miles on my car a year, I pay about $80 a month for full coverage. I'm calling State Farm tomorrow!!

**Firebirdjones** · 10-27-2013, 04:15 PM

Alot of that has to do with Steve being an old fart like me. And yes Steve I still think that's too high of a price.

A 20 something youngster isn't going to get coverage as cheap.

**kingls1** · 10-27-2013, 04:18 PM

Originally Posted by silverWS6

Originally Posted by SteveC

You can use my vehicle as a reference point, Sara (2001 Z28 purchased 12/00) has 37K total original miles.

I have State Farm auto insurance full coverage. Based on the mileage I drive per year (<3k) I pay $370 a year (which I still think is way to much) keeping her garaged.

SteveC

Holy fuck! I just did the math and I put about 2k miles on my car a year, I pay about $80 a month for full coverage. I'm calling State Farm tomorrow!!

I'm not sure of the break down but my State Farm Bill is $135 per month and that covers my home 2 cars plus the Trans Am.
What my agent told me the TA isn't old enough for classic insurance as they require classic plates.
I've been with them for 26 years now and hate to go elsewhere but I want to protect my investment.

**Firebirdjones** · 10-27-2013, 04:31 PM

These cars aren't really investment quality and as you've found out, the payout for a totaled piece wouldn't likely be much over $7-$8k if you're lucky. As far as expensive upgrades, your standard insurance policy would never take that into consideration. That's pretty much on your coin, and if the car were totalled with the current insurance, you would likely be removing those upgrades to install on the next 4th gen to keep from loosing your butt.

The only way possible to cover it for what you may think it's worth is likely going to need an appraisal to convince the insurance company it's worth "X" amount of dollars. That may or may not fly with state farm in which case you'll then have to persue some of the other companies mentioned above that specialize in that sort of thing, and see if they would even be interested in covering the car.

**pajeff02** · 10-27-2013, 06:21 PM

I signed up with Hagerty this Spring and the Trans Am is covered on their policy. All the DD's are on a State Farm policy.

**SteveC** · 10-28-2013, 04:16 AM

Originally Posted by Firebirdjones

Alot of that has to do with Steve being an old fart like me. And yes Steve I still think that's too high of a price.

A 20 something youngster isn't going to get coverage as cheap.

I agree, I am 65 years young, and have been with State Farm over 40 years, however for $370 a year, I should be able to run over at least 2 people a year without a rate increase (j/k).

SteveC