$466.35 a year for Insurance

[Garfy]

I told them $28k. KBB is 26K-30K



I do about 1k miles a year on the Mustang. They give you a 2500 mile allowance that you can increase easily if needed.

I've got a GTI that is my daily. Smaller, easy to park, better on gas and easier to transport the grandkids, dog and haul gear to gigs. I also have Harley and the wife has a Tesla 3. All fun vehicles to drive.

It seems like this is for "collector" cars that's not driven much, not for a daily driver. Anyway, rates do definitely vary by state as when I was in Hawaii, I had my home and both cars with SF and full coverage (100/300K liability since I had a $1 million liability on my homeowners, $100 deductible collision, $0 on comprehensive, uninsured/underinsured stuff, etc.) and my 2012 Honda was $267 for 6 months and my 2020 GT was $265 for 6 months partly because I only put 2,000 miles or less annually on my GT. Now I'm paying over $500 for 6 months and my Honda is $288. The biggest difference is the collision portion; guess a lot of Mustangs get totaled up here.

Sponsored

 

[Rock&Roll]

It seems like this is for "collector" cars that's not driven much, not for a daily driver.

Yes ... name of the company is "American Collectors Insurance".

My Mustang is my garage queen trophy girl. My GTI is a better daily driver than the Mustang but I love them both and thankful that I own 2 really nice cars.

( and a motorcycle and a bunch of Telecasters and Stratocasters etc.etc.)

Life is good.

 

[cerbomark]

just got off phone with AC insurance, $500K coverage, $48K agreed value=. $1218 per year. So they are no bargain .

 

[cerbomark]

To add insult to injury Safco (part of liberty) will on do agreed values on the following newer Mustangs , Gt500/350s.
American collectors said no way to get policy near $500..?
It seems if someone has low low rates they are getting low low coverages.
Haggerty was over $1K and they said they ll only write me with all my cars.
I guess I m getting a bargain at Liberty with the exception of the value if it was totaled.
They don even ask but zero tickets, zero accidents, top tier credit.

 

[Rock&Roll]

just got off phone with AC insurance, $500K coverage, $48K agreed value=. $1218 per year. So they are no bargain .

Well they were for me. I'm guessing its the higher $48k value but idk

I'm also an old geezer with a clean license. Maybe that' ?

 

[cerbomark]

Well they were for me. I'm guessing its the higher $48k value but idk

I'm also an old geezer with a clean license. Maybe that' ?

I may be older, LOL. You can t get a cleaner lic then mine. if I dropped 100/500k to 100/300K it only goes down $100. I did mention a $500 rate "of a friend" and he said he can t see how. So I m lost how some of these rates come out. Location, location, location I have to assume.

 

[Rock&Roll]

I may be older, LOL. You can t get a cleaner lic then mine. if I dropped 100/500k to 100/300K it only goes down $100. I did mention a $500 rate "of a friend" and he said he can t see how. So I m lost how some of these rates come out. Location, location, location I have to assume.

lol ... I'm 64 1/2

You're asking for $48k on a 5 year old car and I'm asking for $26k on a 9 year old car so thats a big difference.

Location wise I would think TN would be cheaper rates than N.Y. Everything in N.Y. is overpriced and crazy. Maybe it's not IDK


But you tried so that good. I knew about American Collectors and Hagerty for a Year and I procrastinated.

 

[cerbomark]

lol ... I'm 64 1/2

You're asking for $48k on a 5 year old car and I'm asking for $26k on a 9 year old car so thats a big difference.

Location wise I would think TN would be cheaper rates than N.Y. Everything in N.Y. is overpriced and crazy. Maybe it's not IDK


But you tried so that good. I knew about American Collectors and Hagerty for a Year and I procrastinated.

65 end of the month, LOL. I was in NY and now in TN. The rates down here are high IMO too. was told there are a lot of uninsured motorist that add to the cost. Mine is a 1 of 39 for the pp2 and color. Unfortunately it would be based on a GT for a payout I m afraid . You might be right if your value is $26K.

 

[cerbomark]

I dropped them another question about the cars value of 48 vs 26 to get an idea of how much the value changes the premium. thanks for the info.

 

[coyote550]

They gave me $705 per year for 100/300k bodily injury, 100/300 under insured, 250k PIP, 250 deductible on collision and comp + towing. Its a bargain considering Geico was charging me $1300 for 6 months for this, more than my daily bimmer that I drive 15k miles a year. Even after I told Geico that I only drive the mustang for like 5k miles per year at most and its garaged the rest of the time. Thanks to OP for pointing this company out! Never heard of them before. Full coverage insurance that low is unheard of here in metro tri-state area.

 

[geep81]

I'd rather drive my Mustang more than 1k miles a year than pay $466.35 for yearly insurance.

I pay $1300/yr with no agreed value with State Farm on a 2020. 43 and very few tickets.

 

[cerbomark]

just to add some information here I grabbed a policy from Haggerty. coverages are the most important thing when comparing prices. I could have manipulated the price to just about anywhere. I got 500,000/500,000 coverages on everything. I got a agreed value at $45,000.
$1K per year. that s what I was paying already BUT now the car has a value that I could live with if it s a loss. I walked into a local insurance agent and he did all the work on this at no cost. BTW, other places I ve walked into would not write Haggerty unless I gave them all my other vehicles too.

 

[Cobra Jet]

The reason that coverage for a “modern day” vehicle on a COLLECTOR car policy is high is:

It costs way more to repair a modern day vehicle and the coverage costs will be higher than a (hypothetical examples) 26 year old or 50 year old vehicle….

If you total the car, an Agreed Value payout is an agreed value payout whether it was $58k on a Classic or a modern vehicle. The problem is, to cover said vehicle, the modern day vehicle costs way more in parts make up and if the modern car ISN’T totaled out, the cost to repair some modern vehicles can be exorbitant, more so new vehicles with multiple airbags, multiple control modules, TONS of electronics/sensors, high end LED lighting, etc etc etc.

Also for those not aware with the type of policy the OP is posting about (which is not just about getting a “lower rate”) IF any vehicle is on such a policy as “Collector Car”, there are many stipulations and provisions in the policy with how the car can be used., how many miles driven annually, where it’s stored, other drivers in household, etc. Some Collector Car Ins. Companies are more lenient than others - BUT be very aware they ALL have the same basic by laws in their declaration pages, one being:
If that if the car is wrecked and investigation shows it was being used as a daily (modern day car modules don’t lie) or used in ANY timed events (racing) the Ins. Co. has every right to refuse repair, refuse any total loss payout, and drop you.

As for ACI, they do have great plans for Collector Cars as my 94 Cobra and 93 TX unit is insured by them. The 94 has been with them for over 18 years now. I went with ACI years ago because they had (and IMO still do) the best overall policy, rates, and best benefits for their insured.

 

[Rock&Roll]

I'd rather drive my Mustang more than 1k miles a year than pay $466.35 for yearly insurance.

I pay $1300/yr with no agreed value with State Farm on a 2020. 43 and very few tickets.

I don't drive the Mustang 1000 miles a year on purpose.

My Daily is a GTI. I also have a Harley I drive in the warm weather and my wife's Tesla 3. All fun vehicles

The mileage allowance is 2500 miles. You can up it if you like. When I looked at the miles I've done in the past few years it's been around 1k miles. I'm gonna try to drive it more but life gets in the way.

I was paying $1319 a year with State Farm. Now I pay $466.35

Why not save $853 a year

 

[coyote550]

They gave me $705 per year for 100/300k bodily injury, 100/300 under insured, 250k PIP, 250 deductible on collision and comp + towing. Its a bargain considering Geico was charging me $1300 for 6 months for this, more than my daily bimmer that I drive 15k miles a year. Even after I told Geico that I only drive the mustang for like 5k miles per year at most and its garaged the rest of the time. Thanks to OP for pointing this company out! Never heard of them before. Full coverage insurance that low is unheard of here in metro tri-state area.

I take it all back lol. They did give me a quote but the underwriters declined to cover the car with the following message: "Unfortunately, we have to decline your application. The 2016 Ford Mustang does not currently qualify as a classic collector vehicle for our program, as it is not a special edition but we would be happy to take another look at it in a few more years." Strange as I've seen other's insured but ok, Hagerty it is.


EDIT: Figured out the issue. They asked me for photos and I sent them. The ACTUAL issue is that the car is modified which apparently no longer qualifies it as a collectors car.

Sponsored