Great Find on Agreed Value Car Insurance for Driving to Work

[RSBob]

I have had Grundy and Haggarty Agreed Value policies and both are very restrictive about driving the car other than to car shows, events, etc. They both prohibit driving the car to work or even to the store.

Since I live a life of mild paranoia about people not paying attention and hitting me, I just don't drive the cars to work or on errands. But I accidentally discovered that you can have your cake (at least a few pieces) and eat it too.

Heacock Classic has an A+ rated affiliate called American Modern. They will go with agreed value for occasional trips to work (2 per week max) and you are fully insured. You can select a 3000 or 6000 mile per year maximum (there is always a catch) and you have to report your odo reading when applying.

Their rates are very competitive with Grundy and Haggarty but you get to drive to work insured. It's a no-lose proposition. Of course they require a good driving record and lack of accidents for 3 years, like everyone else.

I am not affiliated in any way to either company but wanted to spread the news that you can drive to work risk and worry free on occasion.

The Heacock rep who set me up was a class guy named Damien Flynn. dflynn@heacockclassic.com - or just go check out the Heacock web site. American Modern has their own site as well, but I would recommend going through Damien.

Good luck

[Pazuzu]

Garage requirement?

[Porsche-O-Phile]

Good info. Thanks for sharing. I'll give them a call.

[RSBob]

Yes, a locking garage is required. Sorry. They have all the standard classic car insurance requirements, except for the driving to work part.

[jcunning]

Originally Posted by RSBob

Of course they require a good driving record and lack of accidents for 3 years, like everyone else.

This is the one that prevents me from getting good classic car insurance.

I have had zero accidents my whole driving life (16 driving years), but I seem to get a speeding ticket about once a year. The last one I got was a real bad ticket where the cop completely made up a number (47 in a 25). I know in most cases you are guilty, but even my wife can even attest that I wasn't speeding.
There goes another 5 years of no classic car insurance.

[RSBob]

Yeah, driving Porsches and pushing the limit seem to go hand in hand. Jeff, if you don't have one already, get a Valentine 1. It has saved my bacon many a time - but with the proliferation of lasers.... it's just a matter of time for me.

[jcunning]

I've had a valentine 1 for about 10 years now. I love it.

In this past incident, I knew well ahead of time that there was a cop there.
However it doesn't work when the cop makes up numbers or maybe the radar gun makes up numbers... Who knows.

[Scott Clarke]

Rick-
Do you know if you have to have more cars than drivers to make this work? We are a two car family, and one of the cars is the 911, which I drive only occasionally.

[RSBob]

Hey Scott, I really don't know. If I were you, I would pose the question to Damien, that one of you are a stay at home type (either work from home or take care of child from home) and so just have one primary driver car and the 911, and see what he says. That is if one of you really is a stay at home type... I tend to find the truth works well with good justification.

[B D]

From the American Modern Site:

"Usage & Storage
Elite Collector Vehicles are to be used solely for limited pleasure use; such as activities consistent with participation in vehicle exhibitions, club activities and leisure or pleasure drives. Elite Collector Vehicles will be considered ineligible for the program if they are used for errands, shopping, driving to or from work or school, business/commercial, racing, or other similar actions. The vehicle must be stored in a locked garage facility when not in use. When the vehicle is away from the owner’s premises, it is expected that the owner will exhibit a high level of due diligence to ensure the protection of the vehicle."

I would double check with your agent on the terms.

[RSBob]

Yes, that is what it reads, but what it doesn't cover are the two programs on driving to work as well as the mileage plans 3000 and 6000. I only discovered that through talking with Damien. When he sent the contract out, there was a special rider for this provision.

Believe me, Iwould not send people on a wild goose chase.

[jkarolyi]

I'm with Sneed insurance who uses American Modern too. I have the 3,000 miles/year policy which allows driving to work occasionally. Don't know how they check this, and I've never had to send a pic of my odometer or anything.

[HarryD]

Originally Posted by B D

From the American Modern Site:

"Usage & Storage
Elite Collector Vehicles are to be used solely for limited pleasure use; such as activities consistent with participation in vehicle exhibitions, club activities and leisure or pleasure drives. Elite Collector Vehicles will be considered ineligible for the program if they are used for errands, shopping, driving to or from work or school, business/commercial, racing, or other similar actions. The vehicle must be stored in a locked garage facility when not in use. When the vehicle is away from the owner’s premises, it is expected that the owner will exhibit a high level of due diligence to ensure the protection of the vehicle."

I would double check with your agent on the terms.

Hmmm. sounded great until the the word Racing appeared.

Seems, like all of the "garage queen" policies, I still can't consider them if I want to Autocross my car even though it IS a "Club Activity".

sigh....

[zotman72]

My odometer in my '72 does not work anymore and we all know the reason. Nevertheless this outfit sounds like a way to protect the car when I drive it to work here in SUV land. I will check them out.

[Danny_Ocean]

Originally Posted by RSBob

Yes, that is what it reads, but what it doesn't cover are the two programs on driving to work as well as the mileage plans 3000 and 6000. I only discovered that through talking with Damien. When he sent the contract out, there was a special rider for this provision.

Believe me, Iwould not send people on a wild goose chase.

"Unfortunately we do not have a program that would allow that kind of use.
Damien Flynn – Insurance Agent"

[Noah930]

Originally Posted by B D

From the American Modern Site:

"Usage & Storage
Elite Collector Vehicles are to be used solely for limited pleasure use; such as activities consistent with participation in vehicle exhibitions, club activities and leisure or pleasure drives. Elite Collector Vehicles will be considered ineligible for the program if they are used for errands, shopping, driving to or from work or school, business/commercial, racing, or other similar actions. The vehicle must be stored in a locked garage facility when not in use. When the vehicle is away from the owner’s premises, it is expected that the owner will exhibit a high level of due diligence to ensure the protection of the vehicle."

I wonder if our weekend group canyon drives can be counted as "club activities." Hey, some of us find strafing corners as leisurely and pleasurable, even if it's done at a decidedly non-leisurely pace.

[rs6er]

Leland West also uses or used to use American Modern also.

[Danny_Ocean]

Once again, the sole proprietor takes it in the arse. Thank you mortgage companies, IRS and now, classic car insurers:

"It will not cover "business use" which would include running errands, marketing or taking clients out to lunch. The specific coverage that you are referring to that is available from the American Modern program is called "Nine to Five Driver". This expands coverage (for an additional premium) to apply to limited commuting to work. "Limited" is considered less than twice per week and operated solely by the named insured.

Unfortunately your situation would not qualify as commuting since you work from home. This expanded coverage was designed for those who would drive their classic car to and from a place of work occasionally.

I quoted you with Infinity Insurance since they offered a lower annual premium for your sizeable collection. They do not offer a program similar to the "Nine to Five Driver".

Damien Flynn – Insurance Agent"

[RSBob]

Originally Posted by Danny_Ocean

... the American Modern program is called "Nine to Five Driver". This expands coverage (for an additional premium) to apply to limited commuting to work. "Limited" is considered less than twice per week and operated solely by the named insured.

...This expanded coverage was designed for those who would drive their classic car to and from a place of work occasionally.

Damien Flynn – Insurance Agent"[/i]

So, there you go, if you already have classic car insurance, Haggarty, Grundy, Leland West, and know all the rules governing collector car insurance, you can switch over to American Modern and drive a couple of times a week to work. If you do not already have classic car insurance, be aware of the restrictions (no racing coverage, no fleet coverage, no working from home and trying to get occasional commuter insurance, etc, locking garage, mileage limits, blah blah blah).

If you cannot qualify for collector car insurance with any big name company, you won't with American Modern either. Do your homework on the general restrictions on this type of insurance in general so you don't get needlessly disappointed. If you already have it, the switch is easy.

No affiliation.

[84_Carrera]

See, I'm putting 12k / year on, and I want to find a decent place that'll do agreed value. Bueller?