Lets talk car insurance !!!

[Rock&Roll]

Sounds like it won't be a problem for you if you're only driving the mustang for car related events and nothing else.

As an FYI, in order to bind coverage, I was required to send pictures of the car, the garage in which it was stored, and an appraisal document.

You can't take the car out for a Sunday drive or a Saturday, Wednesday Drive ? It has to be only car shows ? There's more to life than car shows. I'm a musician and a lot of car shows are when I gig.

No worries about a pic in the garage but what is an Appraisal document ?

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[turbofiveoh]

You can't take the car out for a Sunday drive or a Saturday, Wednesday Drive ? It has to be only car shows ? There's more to life than car shows. I'm a musician and a lot of car shows are when I gig.

Speaking strictly to what was in my policy with American Collector, any time the vehicle was driven the purposed had to be related to some type of organized car event. In fact, events over a certain distance implied the car needed to be trailered. If you're just out driving around enjoying the weather that's considered normal driving and falls outside the scope of the policy. One option is to lie and state the car was being driven to a car event but that's not something most people are comfortable doing.

The aforementioned guidelines were specific to the type of policy I had, which was for a collector car. Given the details you've shared about the policy you're evaluating, and the accompanying rates, I am presuming that's the path the insurance representative is going down.

It is important to ask all of the questions related to acceptable use up front so you don't find out there are additional stipulations beyond mileage after you file a claim. If you want to be 100% certain of what you're signing up to read the agreement from front to back and talk to the representative about any area that is ambiguous and/or leaves final judgement to the insurance company. It was only after I did this that I learned the policy to be quite restrictive, none of the details were shared by the representative until I started asking questions.

No worries about a pic in the garage but what is an Appraisal document ?

An appraisal document is a formal document that is generated by a licensed appraiser. The appraiser will look over the vehicle in detail, review receipts, establish the overall condition, and assign it a value. That value is what the insurance company will use as the replacement value in the event of a total loss. In some cases, the insurance company will bind coverage based on stated value if you take really good pictures. That's another topic to cover with the representative as you explore coverage options.

 

[Rock&Roll]

Speaking strictly to what was in my policy with American Collector, any time the vehicle was driven the purposed had to be related to some type of organized car event. In fact, events over a certain distance implied the car needed to be trailered. If you're just out driving around enjoying the weather that's considered normal driving and falls outside the scope of the policy. One option is to lie and state the car was being driven to a car event but that's not something most people are comfortable doing.

The aforementioned guidelines were specific to the type of policy I had, which was for a collector car. Given the details you've shared about the policy you're evaluating, and the accompanying rates, I am presuming that's the path the insurance representative is going down.

It is important to ask all of the questions related to acceptable use up front so you don't find out there are additional stipulations beyond mileage after you file a claim. If you want to be 100% certain of what you're signing up to read the agreement from front to back and talk to the representative about any area that is ambiguous and/or leaves final judgement to the insurance company. It was only after I did this that I learned the policy to be quite restrictive, none of the details were shared by the representative until I started asking questions.



An appraisal document is a formal document that is generated by a licensed appraiser. The appraiser will look over the vehicle in detail, review receipts, establish the overall condition, and assign it a value. That value is what the insurance company will use as the replacement value in the event of a total loss. In some cases, the insurance company will bind coverage based on stated value if you take really good pictures. That's another topic to cover with the representative as you explore coverage options.

Uggh this just seems to keep getting ugly

I take the car out once a week and it's not to a car show. I'm lucky I make 3 -4 a year :(

Do I have to pay to have the Licensed appraiser come to my house or do they send someone ?

WAIT... I see where they "MIGHT" take pics instead of getting a licensed appraiser

Thanks for the info. I appreciate it

 

[Gargoyle]

Car insurance is a scam pay as little as possible and don’t drive like a dick in traffic ..

 

[skinnyb]

Mine went up 33% first of the year. I shopped around and every major insurer gave me a quote within $100 a year of each other. They have went up across the board all insurers. I ended up with Progressive, customized the hell out of it to meet exactly what I needed, no fluff and got it back down to within $50 a year of what I was paying before the hike. 50 year old single male, zero at fault accidents, ever since I started driving at 16. Only claims I have had are a few rock chip windshield claims and 2 deer strikes, neither of those were major, just cosmetic fender, hood, grille, etc...

 

[wingnutt]

No dog in the fight because I am overinsured on everything I own, but theres an elephant in the room…

…sadly politics aren’t allowed, even though it affects us all, every dam day

hint…uninsured motorists with bogus IDs

 

[Cobra Jet]

So I used to have Allstate and that creeped up in money.

I switched to State Farm 2 years ago and saved $700 on my bundle'd plan of 3 cars, 1 Motorcycle and Home Insurance. Now State Farm is shooting up. All 3 cars went up.

My Mustang is $1318 a year with State Farm now :(
I just got a quote from a company called American Collectors Insurance. They're in New Jersey. A friend that has a 80 Z28 uses them.

So my quote from American Collectors Agency is $555 a year. I'd be saving $763 a year. Thats a lot of money.

Just got off the phone with them and because I garage the car and take it to Car Shows, put low miles on it and I have a Daily Driver .... I qualify.



so my question is: ANYBODY FAMILIAR with American Colletors Insurance ?

Yes.

My 94 Cobra has been insured with them for over 15+ years now. Never an issue with that company and I’ve recommended many folks to them over the years.

When I shopped for Collector car Ins. 15+ years ago, they had the best price point as well as benefits for their insured over any of the other 2-3 major Collector Car Insurance companies.

They have an Agreed Value Polcy, which if you’ve seen any of my posts on here - is the absolute BEST policy anyone can have if they own a vehicle where it’s either of significant value OR they have a substantial amount of money tied up in it. A vehicle insured with American Collectors will also appreciate in value annually for a total of an 8% appreciation value (2% per quarter). So that is another positive.

They also will insure project vehicles as well as stored parts (up to $X value for parts).

You’re not going wrong if you got a quite and drive to go with the . They have been in the business for many years.

 

[Cobra Jet]

You can't take the car out for a Sunday drive or a Saturday, Wednesday Drive ? It has to be only car shows ? There's more to life than car shows. I'm a musician and a lot of car shows are when I gig.

No worries about a pic in the garage but what is an Appraisal document ?

Misinformation… ^^

American Collectors Ins. allows the owner to select annual mileage and they do NOT lock you into only being able to drive to car shows… that is BS. What IS FACT and TRUE is you CANNOT use the vehicle as a daily driver, period. Anyone that has a policy can fact check that, because it’s in the policy as to what an owner can and cannot do.

YOUR State laws RE: registration of Collector Car, Historic Cars, Hot Rods, or Antique cars will sometime have more restrictions than a Collector Car Ins. policy…. Check your DMV laws with regards to insuring as a Collector Car OR getting such registration.

- In NJ we are limited to only 3,500 miles a year IF registered as a Collector car.
- IF the car has regular registration but is insured with a Collector Car Ins. Co., then the owner can select the highest mileage limit allowable by the policy.

Every State has different DMV laws with regards to registration types and if insured AS a collector car.

 

[Johnny Rockit]

Hagerty?

 

[turbofiveoh]

Misinformation… ^^

American Collectors Ins. allows the owner to select annual mileage and they do NOT lock you into only being able to drive to car shows… that is BS. What IS FACT and TRUE is you CANNOT use the vehicle as a daily driver, period. Anyone that has a policy can fact check that, because it’s in the policy as to what an owner can and cannot do.

YOUR State laws RE: registration of Collector Car, Historic Cars, Hot Rods, or Antique cars will sometime have more restrictions than a Collector Car Ins. policy…. Check your DMV laws with regards to insuring as a Collector Car OR getting such registration.

- In NJ we are limited to only 3,500 miles a year IF registered as a Collector car.
- IF the car has regular registration but is insured with a Collector Car Ins. Co., then the owner can select the highest mileage limit allowable by the policy.

Every State has different DMV laws with regards to registration types and if insured AS a collector car.

With all due respect I had been a policy holder with American Collector for many years and what you are calling misinformation was confirmed by the underwriter. To be clear, driving is not limited to car shows but driving the car has to be in relation to a car based event. The stipulations fall under the normal use section.

Perhaps you have a different policy than the one I had. I was sharing my experience with the OP an encouraged him to have a conversation with the underwriter. If he is not bound to the same regulations I was, or that you don't appear to be, than that's great.

To the OP, the best thing you can do is read your policy cover to cover and have a conversation with the underwriter so there is no misunderstanding. As it relates to taking pictures, you will take pictures of the car per the instruction of American Collector and if they are satisfied with the stated value then an appraiser isn't needed. That wasn't the case for me based on the value of the car. The insurance company will not pay for the appraisal.

 

[Rock&Roll]

UGGH I quess I gotta call again and ask a lot of questions. All good info here and thanks to all

 

[loucas-2021]

Be happy you don't live in my area with our insurance rates, cheapest I can find is $2800/year, no accidents and clean driving record.

I live in South Fla. I'm 58 years old and no accidents or anything at all on my record. "Safe driver" badge on my license. Still paying through the nose (Geico).

 

[Rock&Roll]

I live in South Fla. I'm 58 years old and no accidents or anything at all on my record. "Safe driver" badge on my license. Still paying through the nose (Geico).

Be happy you don't live in my area with our insurance rates, cheapest I can find is $2800/year, no accidents and clean driving record.

Man $2800 a year is rough.

I'm retired and living on Social Security and gig money from being a scummy musician. My Mustang is paid off with low miles. I'm hoping it don't need anything but tires, fluids and brakes for the next 10-20 years. IF I had to pay $2800 for insurance I'd just sell it and keep the GTI. The GTI is a better daily but the Mustang is way cool.

I feel lucky and blessed in general that I'm healthy, doing great with wonderful toys so no worries

 

[sdskinner73]

Speaking strictly to what was in my policy with American Collector, any time the vehicle was driven the purposed had to be related to some type of organized car event. In fact, events over a certain distance implied the car needed to be trailered. If you're just out driving around enjoying the weather that's considered normal driving and falls outside the scope of the policy. One option is to lie and state the car was being driven to a car event but that's not something most people are comfortable doing.

The aforementioned guidelines were specific to the type of policy I had, which was for a collector car. Given the details you've shared about the policy you're evaluating, and the accompanying rates, I am presuming that's the path the insurance representative is going down.

It is important to ask all of the questions related to acceptable use up front so you don't find out there are additional stipulations beyond mileage after you file a claim. If you want to be 100% certain of what you're signing up to read the agreement from front to back and talk to the representative about any area that is ambiguous and/or leaves final judgement to the insurance company. It was only after I did this that I learned the policy to be quite restrictive, none of the details were shared by the representative until I started asking questions.



An appraisal document is a formal document that is generated by a licensed appraiser. The appraiser will look over the vehicle in detail, review receipts, establish the overall condition, and assign it a value. That value is what the insurance company will use as the replacement value in the event of a total loss. In some cases, the insurance company will bind coverage based on stated value if you take really good pictures. That's another topic to cover with the representative as you explore coverage options.

Besides the fact insurance is almost entirely a scam, this reads like a useless policy. It is a car and meant to be driven. The fact they dictate where you can drive YOUR vehicle to is a bit ridiculous. That goes under the umbrella of “none of yo ur business” in my book.

 

[Coosawjack]

I just got my Grundy Bill for the next year.....$739.00 for a high agreed value....HALF the price of State Farm with NO AGREED VALUE!!

SC is a terrible State for car insurance so I suppose I'm doing OK??

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