Interesting that Geico wouldn't insure your vehicles saying they are too old. I have all 3 of mine with them, a 1997, a 1987 and my 1968, they've NEVER said anything to me about the 1987 and the 1968 even though they are OLDER than your 1989! Never had any claims with Geico either.
State Farm looks like it's pretty good at dealing with the older cars. Like I said in my first post, I didn't like all the restrictions and possible denial of claims that the "true" classic insurance companies had. I do see where they're coming from in a way, put heavy restrictions and we can give you a policy for $50 a year, but I wasn't comfortable with those restrictions. I forgot which, but one of the companies wouldn't even allow "Sunday drives", the car could only be used for "show and parades" only, in thier words. I never used my 68 as an everyday driver, nor go around shopping with it, but there are some cruises at parking lots and other public places that according to most of those companies written contracts I wouldn't be covered at. I've also gone to some cruises and shows an hour or so away and have stopped at a restraunt on the way home to eat. Atleast with a regular insurance company they don't frown on that either.
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1968 Mustang coupe, Acapulco Blue, 289 2v, C-4, Power Steering.
Hopefully a 1969 convertible or Sportsroof (non Mach or Boss) for next Mustang project
Trying to find my father's 1973 Mustang Grande he bought brand new. 3F04F126773 last known registration and title was in New Jersey, 1982.
Interesting that Geico wouldn't insure your vehicles saying they are too old.
I don't know, maybe it is because I didn't have anything NEWER to go along with them? They may have thought I was making it all up.
I have had one experience with Geico. One of their insureds backed into me in a parking lot. The adjuster looked at my then 28-year-old car and quickly wrote me a check. With the check in my pocket I was on the way to a body shop when the uninsured SOB creamed the same car! Talk about a bad day. Between the first Geico check and the 2nd State Farm check everything worked out. I still drive the same '71 car 10 years later. It was my first factory-new car.
I use Hagerty:
Only had my 67 coupe for about a year now and have made a lot of progress in the restoration. Hagerty makes it very easy to upgrade my amount of coverage at anytime. They have also been very friendly and good to deal with.
Hopefully if I ever seriously need them, all this will remain true. But they did come recommended from local car gurus.
What kind of restrictions does Hagerty have today. Earlier in this thread it was mentioned that they used to be ridiculously restrictive. Wondering if that is still the case today.
I've had J.C. Taylor for over 20 years. Had one "devastating" claim in 1991 when a storm blew down a huge oak tree in my yard and it fell on, and destroyed, a 1965 Coupe. At the time, I had agreed value coverage of $14,000 on the car. (I then paid them $500 and kept the car!) Their adjustor came out the following day, saw the situation and wrote me a check on the spot.
I now have JCT on three vehicles and intend to stay with them.
I have both of my coupes insured with Grundy. There is no mileage restriction, and while they want you to garage it, it ill be covered if outside and unattended. I have never had an incident, so I cant say about claims service (Hope it stays that way !).
I have both of my coupes insured with Grundy. There is no mileage restriction...
They told me the same thing. But they also said that under no circumstances could I ever take my car to the mall or drive it to work. With restrictions like that there is little need for a mileage limit.
Yeah, that would certainly limit things. I would be concerned with ambiguity...such as if someone hit it in the parking lot of a store, not a mall. Would they still cover it? Or is it literally just malls and work? Just your work, or can you visit someone at their work. Perhaps the policy clearly defines it.
I have Hagerty and they don't allow you to drive it everywhere, but you also don't have to stand by it. At least that is my understanding of my policy. I may have to re-read it to be sure. I know that was one of their selling points and why I chose them over another company. A garage seems to be a must though.
One word of caution to all regbarding "agreed value" and "stated value" policies. This is NOT the amount you will get paid if your car is totalled. It is the MOST they will have to pay. Be sure you have the value high enough.
So what's the point if you can't ever stop anywhere?
With regard to your comments of "agreed value" and "stated value," are you saying that this is not what you will get if the car is totaled? Could you expound on your comment?
Per my understanding of my policy with Hagerty, I can drive it but not on a daily basis (to work, the mall, etc.). I can drive it on weekends, etc. with no mileage limitations, just not use it for a daily driver. I also do not have to keep it in sight the entire time it is parked somewhere. Some other companies only allow you to drive it to and from a show or in a parade and you must not let it out of your sight. Hagerty is not that strict. If you drive your car daily, the premiums would be alot higher. The premiums are priced with the assumption and understanding this car is not driven daily and is cared for and protected more than normal.
As for expounding on my statemtent regarding the "agreed value" and "stated value" policy, you are correct. You are NOT gauranteed the value in the event of a total loss, just "up to" that value. Remember, insurance companies are in it for themselves and will save money wherever possible. This means they will try to find a way to pay you as little as possible.
That being said, I have never, thankfully, needed to make such a claim. Obviously some companies are better to work with than others, but just go in with your eyes open, knowing the stated value is really a maximum of what the company is liable for.
Keep in mind that Grundy and Haggerty are aware this is a specialty market. You pay about $300 a year for full coverage because they know these cars are NOT our daily drivers and are cared for differently than a Toyota or Taurus.
To shift gears a little bit. What are the primary questions that you would ask insurance companies that you're considering? Here's what I've gathered from the conversation thus far:
Do you have local agents?
What restrictions are placed on the vehicles you insure?
Do you use an "agreed value" or "stated value?" If so, how is this determined, and what exactly does that mean if a claim was made (regarding both partial & total loss)?
Is towing included in your policy? If so, does it specify flatbed? What restrictions or qualifications are on the towing?
If there was a claim that was proven to be “the other guy’s fault,” (or an uninsured/under insured motorist) would that impact my rates?
Never had any claims with Geico either.
