New Insurance Alternative: Mileage-Based

[keagy]

This year I could no longer meet most of the requirements for classic car insurance (i.e. fully enclosed storage and no work usage) for my 911. After much research I found a great alternative. The California Insurance Commissioner has approved mileage-based insurance as a new product in the last year. The big advantage with the mileage-based insurance is no usage or storage restrictions. The disadvantage is they are stated value rather agreed value policies. The mileage-based premium quote (less than 2,000 miles annually) was very similar to what I was paying for classic car insurance. If you can't meet or don't like the restrictions with classic car insurance then the mileage-based insurance may be a great new alternative. Here are some links I found:
Auto Insurance | New auto insurance policies will give low-mileage drivers a break - Los Angeles Times
State Farm to offer mileage-based insurance discounts | The Car Tech blog - CNET Reviews
Drive Safe & Save™ Program - California – State Farm