Insurance for a frequent driver?

[monkeyodeath]

I know the insurance question comes up every once in a while, but I was hoping to get some input for my specific situation...

I've got an '86 that I drive pretty frequently. I'll take it to work 1-2 days a week, or use it on the weekend around town. I stay well within 5k miles a year, but I do try to drive the car a fair amount.

I've got Hagerty right now, but I'm worried about getting screwed if I need to make a claim. Their language about acceptable use is kind of vague ("sure, you can drive it to work a little bit!"), and I don't want to be left high and dry if they find out I was driving the car to get breakfast burritos or visit the museum on a Saturday morning.

At the same time, I don't want to insure it with a normal insurance company and be similarly screwed if something happens and the insurance company lowballs me. (Although I hear that having an appraisal beforehand can help keep this from happening).

I'm less concerned about premium cost and more about coverage and covering my ass if something happens. Any insurance experts out there with opinions on how I should handle this? Hagerty seems to have a really good rep, but I take insurance seriously and want to be sure I'm not taking chances.

[kyngfish]

For an agreed value policy - I haven't seen anyone that is more relaxed than Hagerty - if you have a specific mileage target in mind, American Modern will let you set the mileage and adjust the premium accordingly. I've used them for a few years, and they're fine, but I don't have any first-hand knowledge about how their claims handling is. I'm probably going to switch to Hagerty.

If you're not worried about agreed value and you're confident that the insurance company will value your car at its real world amount, then just get a standard full-coverage policy through your provider. I daily drove my car for the first year I owned it and that's what I did.

[Pedro '84 Coupe]

I had an agreed value policy through Progressive on my '74 914 2.0 before I sold it in January. It was about $100 per month. Not many restrictions. Never had to make a claim, though.

I have Hagerty on the 911 and used to worry about violating the terms of the policy. Then I actually read the policy. Sounds like daily commuting to and from work and/or school is the problem. As long as the parking lot at work isn't too crowded you should be OK. Just be on the lookout for inattentive drivers and drive with your headlights turned on in the daytime.

BTW, Hagerty was great to deal with when I was involved in a fender bender in Jan. 2018. They went above and beyond what I expected to get my car repaired.

[Solamar]

I got a quote from Hagerty recently and specifically asked about mileage caps. They stated there is no annual limit, they want you to drive and enjoy your car (sure that was the insurance salesperson talking). But, it can not be your primary car, you must have a regular daily driver car.

[pgeorgeson]

You should read the actual language of the insurance policy to see what restrictions apply - not rely on some marketing materials about driving it to work. If you have a claim, that is what they will base their decision on.

[76FJ55]

You may also want to check National Corvette Museum Insurance. they seem to have reasonable rates, and you can choose from different mileage usage limits with their agreed value policies. I have a friend with a DeLorean that was hit in a parking lot while he was out on a date. they covered the damage claim without issue.

[shoooo32]

American Modern is great for this type of coverage. They allow 3x a week for commuting and you set the mileage, deductible, and value you'd like to insure. I'm not calling them for a door ding or something silly anyway. I'm only worried about significant damage, total loss or theft.

[racer]

Originally Posted by monkeyodeath

Any insurance experts out there with opinions on how I should handle this? Hagerty seems to have a really good rep, but I take insurance seriously and want to be sure I'm not taking chances.

Read your policy.. Talk to your rep. Only those have the true answer

That said, I have a Hagerty policy on my 914. I only put a few thousand miles a year on the car. They (Hagerty) have been great. They do encourage you to use the car (as someone above posted) and depending on how your car is registered (some states limit you if you have classic/antique tags), the basic Hagerty premise is that you have a daily driver. As such, the expectation is you would use your classic car less frequently, and likely in scenarios that make sense.. shows, weekend cruises and club type events. Using it to commute to work is a gray area I think, as they would expect your DD to be used.. but no reason you couldn't use it for work because you were going to cruise night later

[OsoMoore]

Hagerty balked when I told them this was my daily driver for 8 months of the year. I ended up SafeCo and an agreed value of $24K for my '79. It is a standard policy, so there are no limits to what I do without. All I had to do was send them some photos so they could confirm it was stock.

I have home and auto with them which saves a little (~10% or so), and 3 cars total (2016 Focus, 2006 Suzuki, 1979 SC). My total 12-month rate on the autos is $2K. The newer Focus is about $1K of that.
The policy breakdown is $530 yearly for the Porsche. That's a $500 deductible, and 100K/500K limits.

It definitely takes more effort to get a good policy for these older cars, especially when its pre-1980 and none of the websites understand your VIN or list your model. I've always had to go through agents. I have a form email with all my car info, which I send out when I'm looking for a new policy - I spam half a dozen different agencies and ask them for their estimates.

[LIRS6]

I have a "Classic" policy with Hagerty. Although I must have a "regular use" vehicle in addition to my Porsche, there are no expressed limits to its use for normal driving. When I established the policy, I set a guaranteed value of $50,000. I found the initial process to be very easy and straightforward in dealing with their authorized underwriter rep, but I have no experience with respect to claims (yay!). The cost was significantly lower than what I had been paying for the car under the policy covering my other household vehicles, and as well I have a higher value on it.

[JMS935]

People are usually switching to Hagerty for fear of getting screwed on a claim, not away from them. Stay put.

They’re not going to deny you a claim based on mileage without having a specific limited mileage clause in your policy. As long as you’ve still got your daily driver and its insurance in force at the time of any needed claim, I don’t see how they’d give you any problems. Even if let’s say the accident happened on the way to work, well they can’t prove that you’re using it as a daily driver. I think you’re over thinking it, you’re already with the premium collator car insurance company. Just stay there.

[tirwin]

Here’s my problem with the insurance industry. Outdated thinking. They need to get on with the times. Many people telework.

Last year I put less than 5k miles on the 911 and my DD COMBINED. For the DD, I pay absurdly stupid rates. I pay $400 a year for an agreed value policy.

The DD is half the value of the 911.

In what universe does make sense?

Insurance is about risk. Insurance companies have antiquated means to assess risk. I work out of my home office but I live in a major metro. I haven’t commuted to an office in 13 years. My idea of a traffic jam is a two-cat pileup at the bottom of the stairs. I’m about as low risk as they come. Yet they treat me like a suburbanite who commutes 100 miles round trip every day. It sucks.

[Bitte ein Bit]

I have my "new" 86' 911 under my USAA policy. Never considered anything else.

About 6 years ago now, I totaled my "old" 86' 911 sliding into an exit ramp barrier after what appeared to have been a gravel truck spilling its contents...early evening, getting groceries - just didn't see the small pebble like spill.

Long story short I had the car totaled, got to keep it for parts (it only had 50,000 miles on it) and with the claim was able to buy a replacement 911 within a few weeks.

I would have gotten quite a bit more money to total and give to them - but as stated I kept for parts - and I still did very well.

At many events and meet ups insurance always comes up and I say I use it as a daily driver (198,000 miles and counting) and just cover it with my normal provider...at times other owners seem shocked. The 'controlled' mileage always comes up...

I tried to fill out the online forms with a provider listed above and was shown a *side note* about the mileage being above normal (10,000 a year). Then was told I was denied online and would have to call.

I have two old Land Rovers and motorcycles covered by my normal provider and have no fears. I have good records and photos of anything aftermarket and values attached accordingly. As with my totaled 911 I was able to show receipts for the 9x16 Fuchs I added and able to be compensated for that.

I just hate to see drivers of somewhat average Porsches, Land Rovers and some classic motorbikes overlook traditional insurance companies - thinking they have to use the specialist providers. Just be very thorough - as you should be anyway.

I would never talk anyone out of doing what they think is best - just wanted to give an example using my experience.

[monkeyodeath]

Originally Posted by tirwin

Here’s my problem with the insurance industry. Outdated thinking. They need to get on with the times. Many people telework.

Last year I put less than 5k miles on the 911 and my DD COMBINED. For the DD, I pay absurdly stupid rates. I pay $400 a year for an agreed value policy.

The DD is half the value of the 911.

In what universe does make sense?

Insurance is about risk. Insurance companies have antiquated means to assess risk. I work out of my home office but I live in a major metro. I haven’t commuted to an office in 13 years. My idea of a traffic jam is a two-cat pileup at the bottom of the stairs. I’m about as low risk as they come. Yet they treat me like a suburbanite who commutes 100 miles round trip every day. It sucks.

I feel this, as I'm also a remote worker who drives into work maybe twice a week.

People I know who are in a similar boat use that per-mile insurance, which uses an OBDII dongle to track how much you drive. (not that it really helps with old cars).

I wonder if part of the DD requirement of classic car insurance isn't just work driving -- it's the assumption that you're probably going to use your Honda for mundane everyday stuff like Target runs, etc.

[monkeyodeath]

Another reason I'm asking this question is because I have 3 "classic" type cars -- but only a 2-car garage. I have covered, off-street parking for my third car behind a locked gate, but Hagerty won't insure anything in California that isn't parked in a full garage.

So, to insure all 3 cars under Hagerty, I'd basically be pretending that I have a 3-car garage. Not sure if that's a great idea.

Sounds like I might be underestimating conventional insurance policies -- I should call mine and see what the details are.

[ClickClickBoom]

Policy details are what is in force. Meet the policy requirements and you are OK. It’s all in the fine print, ignore at your own peril. With insurance, like lots in life, it’s all good until it isn’t. It isn’t the fender bender you have to worry about, it’s the claim that approaches policy limits that gets the investigators attention.

[tirwin]

Originally Posted by monkeyodeath

I feel this, as I'm also a remote worker who drives into work maybe twice a week.

People I know who are in a similar boat use that per-mile insurance, which uses an OBDII dongle to track how much you drive. (not that it really helps with old cars).

I wonder if part of the DD requirement of classic car insurance isn't just work driving -- it's the assumption that you're probably going to use your Honda for mundane everyday stuff like Target runs, etc.

I’m really struggling to find a decent answer. Right now my collector car policy requires that the car be a) garage kept, b) isn’t a daily driver, c) the liability coverage and deductibles must be the same as my other cars and d) there must be another car for every licensed driver in the household. This is their way of ensuring I don’t use the car every day and just get their policy (which is cheaper than a regular policy and has an agreed value). I get it. But this just seems antiquated. People who live in places like NYC might share a car in a family. Does that mean they can’t own a collector car?

So with me, my wife and two teenagers and living in a major metro, the cost is eating me up. The upkeep on a daily driver for me plus the cost of insurance on that car really isn’t worth the cost.

I just wish there was some way I could get rid of my daily driver and keep the collector car policy. My risk profile won’t change to the insurance company. I’ll just Uber to the airport and my wife and I can easily share a car. But it seems impossible to find an insurance company that gets it.

[a2jon]

I’ve seen a few recent posts about people having totaled their car and going with “market value” vs “guaranteed value” and receiving less than they expected. This has peaked my interest in switching to a “guaranteed value” insurer.

I’ve received a Hagerty quote which wasn’t too bad and reflects an increased car value from what I purchased the car at based on their algorithms (I have 1986 Carrera 911 which says its roughly ~60k in value). I called my Farmers agent (I love Farmers as they have been significantly cheaper than State Farm which I previously had for 30 years) and asked about switching to “guaranteed value” to which they replied I needed to get the car appraised by certified appraiser (I don’t even know where to begin to find someone who knows Porsche’s well enough to give me a fair market estimate).

Given the hassle of having to get my car appraised I’m about 98% confident I’ll move to Hagerty. Does Hagerty do a similar appraisal of the car to determine value or is everything based through the website upon the initial submission? Secondly sounds like everyone has been happy with Hagerty, any additional comments appreciated.

[wareaglescott]

https://www.midwestclassicinsurance.com

Very pleased with Robin at midwest classic. Came across him when looking to insure my Cobra kit car I built and now also have my 79 SC with him. Works good for how we drive these cars, very reasonable prices and agreed value policy.

[JMS935]

Hagerty doesn’t require an appraisal. Whatever you want the agreed value set at (within reason most likely), it’ll get set at. If you want to increase your agreed value, then they’ll just raise the premium to coincide with it. No appraisals. No fuss. Just tell them how much you want it at and that’s where it’s at. I’ve got my collection comfortably covered, and so long as I pay the premium, they are fine with the agreed values.