[Editor's Note: This article was first published in our August 2016 issue. Some information and prices may be different, and sadly, JG's mullet is no more.]
Car enthusiasts will talk about anything automotive. Intake, exhaust, ECU tuning, track days, dealerships, car shows and race tires are all fair game.
Insurance, though? No way.
Asking an enthusiast about insurance is like asking an ice cream man about power outages. We …
Not saying it because I was there, but I love this photo of JG.
Is that what he was like when you found him?
Tom Suddard wrote: Is that what he was like when you found him?
Actually, a bit of prep and planning went into that image. It's not like JG can grow a mullet overnight.
And for the record, JG found us.
Margie
Marjorie Suddard wrote: And for the record, JG was left in our car after a trip to the Piggly Wiggly. Margie
FTFY
David S. Wallens wrote: It's not like JG can grow a mullet overnight.
Some say...
I'm happy to say, many,if not most, of the rules for specialty car insurance people tend to believe and worry about are false! The bottom line and, most importantly, you must prove this isn't your daily driver!
In my case a 2002 NB Miata LS and a 1986 MB 560SL are both insured and equally eligible for specialty insurance. Why?
First off, they're the third or fourth cars out of our garage in a two car driver family!
Second, since we're retired, neither of us need either of them or any other ride to commute.
Third, as mentioned, all our rides are housed in a locked garage!
Yes, in this case I also receive a discount based upon my statement I won't drive either specialty car over 6,000 miles a year. However, there is nothing to say I can't go shopping or traveling as long as I don't drive more than my 6,000 mile per car limit. And since I have two other cars as my daily drivers, that has zero chance of happening anyway!
Need to look into that for my Miata. Its main purpose is an autocross car, I drive it to and from local events and rarely other time. It's not a daily, just one of my extras. Have specialty insurance on my 70 Opel GT and I seem to drive it more than the Miata. Opel gets driven about 3 times a month and the Miata gets driven once or twice a month.
wlkelley3 wrote: Need to look into that for my Miata. Its main purpose is an autocross car, I drive it to and from local events and rarely other time. It's not a daily, just one of my extras. Have specialty insurance on my 70 Opel GT and I seem to drive it more than the Miata. Opel gets driven about 3 times a month and the Miata gets driven once or twice a month.
Good idea! BTW: Point #1 is this article is among those incorrect things many believe about Specialty insurance!! If you provide documentation, inspections, etc. to prove it's value your ride can and will be insured by a specialty insurance group even though it is much less than the commonly believed standard of 25 years old.
As I said, my Miata is a 2002 now probably considered 15 years old, and it has exactly the same coverage and is insured at the same rate per thousand dollars of stated value as the stated value of the Merc.
Just because your ride isn't 25 years old doesn't mean you can't get Specialty Car Insurance. It just means you have have to dig a little deeper, provide more justification, and allow your ride to be inspected to justify your "stated value!" That insurance is out there! You probably already have done what is needed to be done to justify your car's value. Now you just need to go that extra mile and prove it!
Believe me, the insurance cost savings and insurance value in case of a "total" more than justify your efforts!!
Good timing. I just signed up for coverage with Hagerty on my E36M3 and 87 Mustang LX 5.0. I'm saving $1000 and the mustang had liability coverage only before. I'm very happy so far.
And don't think that State Farm's "declared value" is the same as the specialty insurance company's "agreed value". VERY different and you will likely not get what you think you would in a total loss. Total loss claim are pretty rare so there is not much out there on the differences.
BTW, I remember reading that the number one claim for specialty insurance policies on classics is for roadside assistance (towing). Whodathunk
Scott_H wrote: And don't think that State Farm's "declared value" is the same as the specialty insurance company's "agreed value". VERY different and you will likely not get what you think you would in a total loss. Total loss claim are pretty rare so there is not much out there on the differences. BTW, I remember reading that the number one claim for specialty insurance policies on classics is for roadside assistance (towing). Whodathunk
Funny you'd mention that. Aside from the thousands I save having my Miata and my Merc. both insured at the same specialty car rate. And the fact that each will be reimbursed at 100% of their stated value in the case of a total loss.
Both cars are also covered for not only breakdown but also "specialty car" towing. They are also insured 100% for any spare parts carried in the vehicle and also the cost of lodging required if either car fails on the road far from home!
Talk to Steve Katz at on track insurance. He's a super good guy and one of us.
Tried to insure the Miata with Hagerty. They seemed ok with it, but they said that if you are married then you have to have two cars on regular insurance before they will insure your "classic" car. I was hoping this would be a way to get around the exorbitant insurance rates in this area, but no go. Maybe I just need to get a third car instead... at least it would be a lot cheaper to insure through them.
Tried to insure my Quattroporte with Hagerty. Everything was going great until I said that I only used the car for Sunday drives, Cars and Coffee, and an occasional trip. "Trip?" he said, "You mean like overnight?" "Oh we can't do that. It has to be in your garage each night or at a recognized car show."
Timely post as British Columbia has recently announced that cars over $150,000 (around $112,000 US currently) will no longer be covered by the provincial insurance program and will have to seek private insurance.
Previously, my old Lamborghini cost less to insure than my newer cars!
They estimate that there are 3,000+ cars in the province in the high value category and that they cost an average of 6 times as much as a cheaper car to fix.
Given that many of the high dollar cars are types that are more likely to be damaged (record claim so far was around $94,000 to fix a 2015 McLaren someone managed to stuff, they are probably being fiscally responsible, though I doubt we'll ever see rates drop for 'normal' cars.
Anybody have any suggestions what order to call the above listed companies in for a 20 year old garaged track rat that sees less than 3k street miles a year? Geico liability costs me about $60 a month currently. No idea if I'd find a better deal anyway?
WhiteZombie, will pm you
In reply to glueguy:
Cool! Not sure if you have PMd yet or not. I can't seem to figure out how to find any kind of PM folder anywhere!
i got a quote from hagerty of $838 for 5 vehicles. going to see what i'm paying state farm right now on those but i know i'm paying $440 a year on just the datsun and was told the replacement value is $2400 
once i get all my stuff figured out i was going to contact glueguy's wife as well (can you pm me her email address to forward stuff to?)
glueguy wrote: WhiteZombie, will pm you
Sounds like your the local GRM weird insurance guy. Will you send me a message as well? I have a weird truck needing insurance...
WhiteZombie wrote: In reply to glueguy: Cool! Not sure if you have PMd yet or not. I can't seem to figure out how to find any kind of PM folder anywhere!
I sent it to the email address that routes from the "Contact" button when I click on your profile. I know mine routes to the right spot so do the same for me (click on glueguy in the header and then contact) and send me a good email address and I'll respond.
patgizz wrote: i got a quote from hagerty of $838 for 5 vehicles. going to see what i'm paying state farm right now on those but i know i'm paying $440 a year on just the datsun and was told the replacement value is $2400
pm sent
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