Collector car insurance - do any allow backup use?
 

I've been looking for collector car insurance for my 993 for a while, and the companies I've spoken to all expressly forbid using the collector car for backup use if the daily driver is in the shop for repairs. I have a pretty reliable DD, so I don't expect it to be broken down much, but that's not to say it won't happen one day a year or so. Are there any reputable collector's insurance companies that will allow backup use occasionally? Allstate is charging me a fortune for a non-agreed value policy, so I'm anxious to find an alternative.

I use American National. We have an agreed on value. I can indeed drive mine as a backup DD. The rates are excellent and great service.

I saw an episode of "My Classic Car" on The Speed Channel recently that spent an entire segment on Grundy Worldwide collector car insurance. The owner of the company stated that they don't exclude usage to work as long as each driver in the house has a primary vehicle (other than the collector car.) Their programs are also named value. I plan on giving them a call.

Grundy Worldwide

I just quoted myself on their website. Without asking me a single underwriting question, the rate for my '71 911T at a $25,000 agreed value was $197 for the year. That's with $300,000 CSL liability, basic Uninsured Motorist, and $0 deductible.

Assuming the rate's accurate and that they do actually allow other types of usage, it seems like a pretty good deal.

Call Hagerty Insurance. My '79 SC has an agreed value of $15K, (I should raise it considering what I've got into the car) with zero deductible for comp and collision. My ANNUAL premium is $275.00 plus $25.00 for roadside assistance and a Hagerty Discount Club card.
I stated 5000 miles per year, any way I can use them, to and from are okay but I also have another vehicle, they wanted the vin of that car and the insurance company and policy number.

I spoke to both Grundy and Hagerty today and asked specifically about using the insured collector vehicle as a backup in the event that my daily driver was in for repairs. Both said they do not allow the car to be used as a backup and it would not be covered if it was being used for that purpose. I saw that spot on 'My Classic Car' as well, and think that it was inaccurate with regards to Grundy's real-life usage restrictions.

FWIW, I also spoke to American Collector and they have the same usage restriction. They do, however, have an 'extended' policy that will allow the car to be used for backup duties, but the quote I was given for that policy was $964/year!

AAA put 25K compensation cost on our '86 while expressing
no concern about back-up use.

The AAA price range for the '86 is $15,000-$25,000.

We have 103K miles on this car.

Policy cost $223 includes:

Zero deductable all coverages collision, comp ect...

Liability $1,000,000

Property damage $250,000

Good luck,

Gerry

I find it hard to imagine that Hagerty--my insuror--would pay off on a collector car insured with them that was rear-ended at 0730 on a Monday in bumper-to-bumper commuter traffic. Wouldn't happen. For what it's worth, I pay them about $500 a year (exburban New York City) for an '83SC with an agreed value of $35,000, which is less than half of what I have in the car, and a million smooth in liability. My wife and I have three cars between us, and I use the SC freely on our rural roads whenever I wish. Other than commuting time...

I just got off the phone with AAA. They don't have agreed value policies, they just use the 'market value' of the car at the time a claim is made. That may or may not be better than NADA value, but it's not an agreed value. They told me to use a classic car insurance company instead.

Friends:

I used J.C. Taylor for over 25 years, and when the '65 Alfa set fire to itself on the main drag through Denver, they never even asked why I was driving it. They just sent an adjuster around to make sure I hadn't torched it myself then paid to fix it, wherever I wanted to have the work done. Great people to work with.

Because they sponsor the Colorado Grand, which I'm involved with, I now use Hagerty for three cars. All they asked was to see proof of insurance on my daily driver (not on their antique policy). I mentioned that I use one of the old cars on the track occasionally, and they just let me know I'm not covered there; no surprise that. In reality, apart from the legalese in the policy, neither of these insurance companies seems to make a fuss as long as you have a true daily driver. They don't seem to mind if you're driving the car to or from a shop for work--or even on a nice day just to exercise it for grins. The tops of two of my cars are never up, even when parked overnight in hotel lots on an event, so, of course, they are never locked. Same with $5 million 1950s Ferraris right next to them.

Frank

i use state farm and i pay ~$115 per year for full classic coverage with an agreed value of $25,000. when starting the policy i had to tell them the usage but my agent advised me that if i did not claim 75% of the annual usage (5000 miles or less) for shows, parades, repairs, etc they would reject the policy. there is nothing in it about excluding usage as a back up car but i do have 2 other cars and a bike which may have factored into the equation.

I use american collector. I'm allowed 5k miles/year. Car cannot be used for "general transportation," but can be used for "occasional pleasure drives."

My agreed value is $17k, 300k liability, $500 deductible, I pay $260/yr

I've used Farmer's insurance for years and so far been reasonably happy. I don't keep "collector's" car insurance on my '68 Beetle, but it is insured for a specific "pre-agreed" value. If damaged beyond that amount I will get only the agreed value. If damaged to a lesser degree I get up to the agreed value minus my deductible. I pay normal premiums as I would for any car insured at that same value-range. For me that means about $700 annually. If I want to change the agreed value by a significant amount they require two appraisals. One from a classic vehicle restorer (i.e. a good body shop who is willing to take the time to appraise the car), and one from a dealer. They are willing to basically split the difference between what the restorer says it is worth and what a dealer says the value is. I don't really know if that is standard Farmer's policy or if it is just a friendly local representative (sometimes it is nice living in an "small town").

Not ideal in some ways, but then again it does allow me to drive the car whenever and wherever I want with the knowledge that I'll get at least a good portion of the value of the car in case of disaster.

I just purchased a 912e and will be putting it on a similar plan with the same company come spring. I guess, at least for Farmer's, it doesn't matter much if they are insuring a 2003 Toyota for $10k or a 1968 VW for $10k as long as the policy-holder is paying about the same amount for it either policy.

I don't know if AAA in NorCal has the same policies as SoCal. I have my Porsche insured via AAA's collector policy (or whatever they call it). Agreed upon value. I told them what I wanted. They came to check out the car and okayed it. 5K mileage limit annually, but no restrictions otherwise. I can drive it to work. $250 per year. I live in L.A.

AAA So Cal just insured my '77 911 for 20K, up to 5000 miles, OK occasional to work, 1Mil liability for $160. No tickets, no claims in many years

You're right about Hagerty, I was insured by them, they assume garage queen and car shows on the weekends, which is fine if that's for you. I actually have better coverage with my normal insurer now and I can drive it whenever I want, for less with a better mutual value.

I need a "backup," my two daily drivers are a Land Rover and an Audi, both older. The 911 saves my butt sometimes.

Snead Collector car insurance has an option that will allow you to drive the car to work. I believe it was about $50 extra per year. They also seem to cater to Porsche.

Thanks for the suggestion. I just checked into Sneed and they do indeed have an option that allows for an occasional drive to work. The additional annual cost was actually less than $50. Their total annual premium was very competitive and about 1/2 of what I'm currently paying with Allstate. I think I'm going to go with them.

Wow! I work in insurance so I was listening closely to that Grundy guy. He must've really misrepresented his company. They spent a good amount of time on that show talking about his company and how different it was from every other collector car company, in specific their relaxed attitude toward vehicle usage. That's disappointing. Sorry for the goose chase.

This is from the Sneed Underwriting guidelines. Do you have to call and request a periodic driving to work rider? I would read from this it is not allowed. They also mention an appraisal is required if the stated value is above $40k. That is a pain.

SNEED ENCOURAGES CLASSIC CAR COLLECTORS TO ENJOY THEIR CARS WHETHER THAT BE A SUNDAY DRIVE OR CAR SHOW. SNEED INSURANCE DOES NOT INSURE VEHICLES USED FOR DAILY PRINCIPAL TRANSPORTATION. SNEED JUST ASKS THAT YOU NOT USE YOUR CLASSIC CAR FOR RUNNING ERRANDS OR DRIVING TO AND FROM WORK. (NO RACING. SNEED DOES NOT INSURE COLLECTIBLE VEHICLES WITH RACING EQUIPMENT ON THE VEHICLE)