[68ragtop]

Those of you with more than just a couple cars, what are you carrying for insurance? I have 5 cars that are turn key drivers. I used to drive & insure them all, but in recent years, I have only been insuring three of them & last year one of those three never moved. Really drive the cars next to never & am just tired of paying the premiums. Currently I have American collector car insurance. Never had a claim of any kind & have had the policy for 12 years now. Toying with the idea of just letting it expire & not driving the cars this year.

I might shop out some other companies before I go that route. Just not sure what to do.
When I first got my polices, I had to get an appraisal & submit it for each car. Also odometer statements which allowed 2000 miles a year. But I don't put 200 miles on all the cars combined.... Have the companies loosened up in the underwriting dept at all?

Thanks, 68RT

[Stuart]

I have American Collectors insurance on a couple old cars. I haven't driven them much recently but I wouldn't take them off the policy - it's pretty inexpensive, and what if they were stolen or if the garage caught on fire.

[goatless]

Like Stuart said- it's good to have your cars insured even if they're not on the road. A friend of mine lost a couple of his cars when the storage facility had it's roof collapse under the heavy snow load we had a few years back. There were many other cars in there that were damaged or totaled along with his cars.

I have 4 old Pontiacs insured right now (and one that's not) and it's really not that expensive.

[68ragtop]

I am not too concerned with not having them insured, A little risky, but I have them in a masonry building that has security & fire a system. steel doors, no low windows. Not to say something still couldn't happen, just not as likely as a back garage, or that type of storage. I just don't want to spend $750 a year on insurance when I almost never drive them. Makes me kind of sad, 20 years ago I would be driving my favorite car every weekend if it wasn't raining. Now there is always something else going on it seems.

I am still going to shop around a little I was just curious what you guys have & think of it. One thing I don't understand is why liability doesn't go down a little on each vehicle added. really can't drive 5 cars at one time & I don't believe anyone else is supposed to drive them.

[68ragtop]

Something else I should check on is lowering the value they are insured for. The ins company has been automatically upping the values every handful of years. Yes, the trans am's have gone up in value but maybe i need to consider looking into having them to a level that I would get something in the event of a loss, just maybe not full value.

Hhhhmmmm.

Not trying to be cheap. My cars used to be my world. Now I have growing kids, their activities, orthodontics, Family insurance, etc. last year I drove my 80 T/A & 78 T/A each once. Sad.........

[goatless]

I believe that Hagerty has insurance for undriven cars. The rates are lower to reflect the lower risk the cars are exposed to.

[68ragtop]

It would be really nice if their underwriting dept would take into consideration the building in which they sit. Pretty low risk. I might just call my current ins co. to see what they can do.

Maybe I'll try haggarty too. Any other companies out there?

[The Champ]

I have 4 cars insured with Hagerty.

The way Hagerty does it - you only pay liability on the first car. The other three are only charged for the physical damage coverage (which has no deductible for comp or collision).

My premium to insure all 4 is $701.00 per year - about what I pay to insure 1 regular car per year (with $500.00 deductible on comp and collision). The vehicles have a combined insured value of nearly $100.000.00.

I think that is very reasonable and don't have a problem paying the premium to have them all covered - even though 2 of them are rarely driven.

While my cars were under restoration - all were covered - even though they weren't being driven.

If you're happy with reduced values in case of loss - lowering your coverage limits would surely decrease your premium.

[Old Goat Racer]

Time to thin the herd ??

[carsmymistress]

Not sure who you are using now but I have been with Grundy for 18+ years for my cars. They have covered my cars under restoration as well as my collector. I have even covered my late model Vette with the only restriction being I cannot drive to work.
Each time I have comparison priced they have been significantly less that the other collector providers.
I am with the others. Your call but I would not leave my cars uninsured regardless of how confident I am in the storage and safety.

[ctrcreek]

plus one to consider is your agreed value,i have 3 cars insured for less than 300 a year.just because it worth 25,000 in the book i try to go by what i really have invested.im not paying premiums so i can get rich if something happens,i just want to know ill get my money back and be able to put it back together if i want (minus labor of course).

[76LQ9TA]

Just put it on storage insurance. You just pay the comprehensive portion of your insurance. I do that with the cars I have stored at my parent's farm. I just call the agent on Friday to activate full coverage for the weekend and put it back to storage on Monday. I pay about $35/year for each vehicle.

[The Champ]

Originally Posted by 76LQ9TA

Just put it on storage insurance. You just pay the comprehensive portion of your insurance. I do that with the cars I have stored at my parent's farm. I just call the agent on Friday to activate full coverage for the weekend and put it back to storage on Monday. I pay about $35/year for each vehicle.

As long as you are satisfied with what a regular insurance company will pay you in the event of a claim, I can't argue with your decision.

However, I would not be happy with what a regular insurance company would pay me - that is why I have a collector car policy with agreed value.

[pontiac1981]

I have my 81 TA insured for $11,000 and pay $297 a year with flat bed road service with Hagerty ins.

[Cerberus]

I volunteer to exercise your cars, I would gladly put 2000 miles a year on them. Hell, I'd even pay for your insurance!

[geeteeohguy]

I Have American Collectors Insurance on two GTO's and a Model T, and it's full coverage, plus theft. Have over 40k replacement agreed value on each GTO and about 25k on my '15 Ford. Maximum annual mileage is limited, but not bad, something like 5,000 miles a year. It's very affordable....about $170 per car per year. I haven't had a claim (knock wood) so I don't know how good they are in a bad situation. They are polite, professional, and otherwise just fine in my 8 years or so with them.

[70pontiaction]

I've been with them about fifteen years now, again without a claim so I can't speak as to their handling of that aspect of coverage.

They require that the vehicles be garaged, that you have a daily driver vehicle also and have some kind of limit on miles (maybe 3k each year per insured vehicle) to rule out the daily driver muscle cars.

I have $100/$300k liability/uninsured motorist insurance and then stated value for each vehicle. After the first three vehicles, they didn't charge me any more for the liability/uninsured motorist coverage, just the premium for collision and comprehensive as I added vehicles. That made sense, since I can't drive them all at the same time.

I think above a certain number of vehicles, they discount the premiums a bit, too.

And they also insure modified/rodded vehicles for declared value.

www.jctaylor.com
800-345-8290

[giddygoat]

I used to use a out of state collector car insurance, but years ago I switched back to State Farm where I have some of our main drivers insured. They have a collector stated value policy that was very reasonable for me, and I also insure some that are not driven with just the theft fire etc. that is very cheap.

[blue67gtoragtop]

I have had 3 insured all at one time with Hagerty. Rates are reasonable and have no complaints with how they handled a claim. I had them with State Farm at one time, but felt better with the stated value coverage at Hagerty.

[68ragtop]

Thanks for all the replies guys. I forgot to check in after the earliest post & didn't realize these were so many more comments. I have American collectors insurance, & after reading some of the premiums, I am probably getting a pretty good deal. This has just been a rough year with frustrating expenses. Oldest is in orthodontics, new truck last year, property taxes jumped, The list goes on... So when I got my renewal, I just thought, really? I have been so busy with other things I almost don't care if I take them out at this year & to spend the cash.

I will do something. I do like the idea of lowering the agreed value. I love the cars, not their value. So if the unthinkable happened I would be more upset about loosing them than getting less cash on a claim.