Collector car insurance?

[Rathbone]

My E30 is a weekend car only. I drive an SUV during the week, and weekends are split up between a Corvette and a muscle car. Those 2 get collector car insurance from Grundy and it's a steal. I thought I'd insure the E30 the same way, since they used to advertise "No model year limitations". But they won't insure it until it's 25 years old. I suspect they fear all E30's go on race tracks, but mines a cabrio. Has anyone else been able to get collector car insurance for their E30's? I asked to speak to an adjuster and Grundy but they wouldn't allow me to. Maybe we should all petition Grundy! I pay about $150/yr. each for my Corvette and '69 Firebird 400 Convertible.

[96 Cosmos]

Keep us posted on your findings. I haven't done much research with collector insurance, but I've been thinking about going that route with both of my BMWs as I drive my Jeep the majority of the time.

[X Mon]

Try either American Collectors or Hagerty.

[UKFan4Sure!]

Ive been with State Farm for a long, long, time. They did a "special" on mine and gave me a collectors rate of about 2 bills a year.

[capucastro]

Check this out:
www classicins dot com (I'm not allowed to post web pages)

I got a cuote of $150 a year for my 325is 89 valued in 5,000

[96 Cosmos]

I got a quote of $150 a year for my 325is 89 valued in 5,000

What are the driving restrictions? Weekend only I'm sure, is there a mileage limitation?

[kellie]

I have my E30 insured with Amica as of last week. When I called them, I told the woman that my car is in excellent condition, and I have spent quite a bit of money restoring it. I have the intention of spending even more than I already have, and I know for a fact that the car's blue book value doesn't reflect the car's value in the enthusiast market. It would be nearly impossible for me to find another iX in the condition mine is in. I asked if there's any way to guarantee that I will get back at least a reasonable amount of what I have put into it. All she said was that I should hang onto my receipts, and they'll take everything into consideration. That's not terribly reassuring...

[96 Cosmos]

That's not terribly reassuring...

Not at all! I have my e30 appraised at $6500. That's on record with my insurance company. Makes me feel much better knowing the car's value won't be in question.

[kellie]

Not at all! I have my e30 appraised at $6500. That's on record with my insurance company. Makes me feel much better knowing the car's value won't be in question.

Who is your insurance company, and how did you manage that, if you don't mind me asking?

[96 Cosmos]

Who is your insurance company, and how did you manage that, if you don't mind me asking?

I have Allstate. They call it stated value insurance.

[fixb52s]

American Classic has both my BMW and my 02 WS6 on a policy. The agreed value was determined by me and they only thing they needed was clear photos of all exterior angles, interior and engine, along with the odometer. They also have different mileage policies ranging from 2500 to 6000 per year. Thay also require you to have another vehicle with a regular policy as a daily driver, so this cannot be a DD.

[JonathanJung]

I talked to a guy at classicins.com and he said they don't insure, and even let anyone drive the insured vehicle, under 26 years old or 10 years driving. Wish I could find someone that would insure my convertible for cheaper. I don't meet up to those age requirements though.

[SawyE30]

You might be able to go for antique ins...my grandfather insured his '37 Buick 4-door vert (with a straight-8) pretty cheaply that way along with my grandmother's '84 rx-7 GSL-SE. Only thing is that you (personally) have to be 25 years old to qualify.

[VacMan]

Interesting thread. I have 5 vehicles currently insured through Geico and never even really considered a classic or "seldom driven" insurance policy for any of them. However, this looks as if it could save me a ridiculous amount of money on two of my cars, so of course I'm very wary of it.

To answer the question of driving restrictions, here's a quote from Classic Auto Insurance. Thanks to CapuCastro for the link.

What kind of driving is allowed with your program?

Pleasure driving is allowed in our program. You are not restricted to parades, car shows, and club events like other programs. We encourage you to enjoy your vehicle. However, we ask that you are prudent in not exposing your vehicle to theft and vandalism by not leaving it unattended for extended periods of time, such as in a parking lot, or parked on the street for hours.

There are 3 mileage options, less than 1000 miles, 1000-3000, or 3000-5000. You must also have another car that is your DD.

My biggest concern is how big of a PITA it is to get taken care of in the event there IS an accident. Cheap insurance that doesn't do anything for me when I actually need it is worse than overpaying for it.

Anyone have any first-hand experiences with this type of insurance?

Tim

[fixb52s]

My dad had a friend who had a 50 Merc. that was smashed from behind from a cell phone distracted driver. They did ask questions about a few things, but since he was "pleasure driving" (not on his way to work) they covered it very quickly. He got some pretty high estimates since there was a lot of custom work and they paid it no problem.

You do have to be careful about where you are driving it. To and from work is a no no, and yes, there is a min. age.

[kellie]

I have Allstate. They call it stated value insurance.

I tried that with Amica, but didn't have much luck. I wonder if it's just an Allstate thing.

[makaio]

Try either American Collectors or Hagerty.

I used to have American Collectors on my 911 when I still owned it. They start all new policies at a 2500 mile per year cap, then give you the option of incresing to 5-6000 miles a year if you want. It was pretty painless, they just took about 10 pictures of the car, checked the odometer and logged it, then I stated how much I wanted it insured for.

[88E30IS]

Couldn't you just get a different cluster let them inspect it drive it for 2000 miles then pull it, put in the other one then drive it the rest of they year then the next time they need to inspect it put in the one that you put the 2000 miles on and then be good? My be insurance fraud though....humm

[ddavidv]

My biggest concern is how big of a PITA it is to get taken care of in the event there IS an accident. Cheap insurance that doesn't do anything for me when I actually need it is worse than overpaying for it.

Anyone have any first-hand experiences with this type of insurance?

Generally, they are very good at claims handling.
I've worked as an independent auto damage appraiser and have done work on occasion for a few of these companies (because they have so few claims, they do not have their own appraisers on staff). The quality of an independent appraiser can vary greatly. That's the only downside I can see, but if you have a huge dispute you can request another independent appraisal and probably take care of any issues.

[UKFan4Sure!]

Couldn't you just get a different cluster let them inspect it drive it for 2000 miles then pull it, put in the other one then drive it the rest of they year then the next time they need to inspect it put in the one that you put the 2000 miles on and then be good? My be insurance fraud though....humm

.....ya THINK?