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JMGaston JMGaston is offline
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Join Date: Apr 2012
Posts: 133
I also use State Farm for our other cars and our home, but when I checked with them about this car, they stated that unless the car was going to be "limited use only" per the definitions below, it could not be insured on an agreed value basis. I want o use the car on the weekends, holidays, etc, not too many miles per year, between 2000 and 5000 max (if a long road trip was to be included), but that doesn't fall under their defined criteria (this is an excerpt from the State Farm definitions document for Antique and Classic cars):
The true antique or classic car owner is generally someone who has spent many hours of hard work in renovating the vehicle. These car owners take a great deal of pride in their accomplishments and spend a considerable amount of their time caring for and maintaining the vehicle. Because of this, the vehicle is used infrequently and only for special occasions. While membership in an antique or classic car club is considered an indication of the intended use, the absence of membership, in and of itself, should not prevent a vehicle from being considered for this special rate.
Many older cars may meet the age requirements to be considered an antique or classic vehicle, but use of the vehicle is the primary factor in terms of underwriting and rating. Underwriting must determine whether the overall use is "limited" to that of an antique or classic vehicle, or, whether it is "regularly" used for personal, pleasure, or business purposes.
Vehicles with "limited" use are those vehicles that are used primarily in exhibitions, club activities, parades, or similar functions of public interest and used infrequently for other purposes. If the vehicle is used "regularly" for personal, pleasure, or business it should be rated under the regular rules and rates that apply to the type of vehicle to be insured.
Old 05-04-2012, 05:48 AM
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