Full Coverage Insurance

[cah2873]

Sorry if I am in the wrong area. I could not find a specific area to ask this question. My son and I have been rebuilding a 1984 Chevrolet K20 for the last 2 years. We are nearly done. I currenlty have full coverage insurance through Hagerty. It states no more than 12,000 miles per year and only driven as a recreational vehicle. Not as a daily driver.
My son is a few months from turning 16 and getting his driver's license. Hagerty can not insure him on this truck. I checked with my local auto insurance agent and they can only get liability. I would like to get more than that because we have put quite a bit of $$$ in it. Does anyone know where else to look? Anyone have any experience with this?


Thanks in Advance

 

[MtBraun]

Probably depends on the state and carrier. When I had my GN insured as a collectible I had driving age kids in the house and it wasn't a problem. That was State Farm in both SD and MN.

 

[QBuff02]

I have Country Insurance for all of my stuff- home, life, auto, etc. When I bought my '82 I told them I wanted full coverage on it and they didn't even bat an eye.. Basically told me "here's what your monthly policy will be on it". And I said add it to my stuff and that was that. That was a year and a half ago, and here at the end of the year when I met with my agent for our annual review, he did ask me more so out of curiosity why I had full coverage on something so old. I told him how much I paid for it and how much the prices have gone up on them in the last few years that I couldn't replace it for what I paid for it, and that I wanted to cover myself in the event something happened. He looked up some values and said that it wasn't out of line to have full coverage on it when looking at the numbers. basically it was never an issue having full coverage on it with them. Don't know why you had a problem? Unless you must have state farm insurance possibly? Years ago when I rebuilt my '80 Z28 and I had state farm, I wanted full coverage when it was done and back on the road and they gave me the run around on putting a value on it in the event something happened, and I had to provide receipts and documentation to prove that I had the money in it that I said I did and then to top it off, I had to bring the car to the agents office so he could inspect and take pictures of the car for proof that the car really was in A1 shape. They ended up giving me the coverage I requested with some "rider" on the policy, it was a giant pain in the ass and also why I stopped using state farm and will never go back to them.

 

[R10C10]

I have collector car or classic car full coverage on both of mine. I did it through state farm. They both are on a stated value if something was to happen to them. If you went the route of regular full coverage insurance they are going to give you "fair market value" if something happens... and THEY determine that value at time of loss... I would search around for a company that will put a stated value on the truck that will insure your teenager... or be like me and don't let your teenager near it! lol

 

[cah2873]

This is his truck and he is the one that will be driving it. I currently have all of my insurance through Texas Farm Bureau. I need to check other places however they want you to move everything the have over to them which is not a problem, but Farm Bureau has been good to me. We have quite a bit in the rebuild of it and I would to have some peace of mind if it gets stolen or etc that we will get something out of it.

 

[Charlie]

I currently have State Farm liability on my truck. CAN get full coverage when I am ready according to my Ins. agent. Going to get it in the near future. Already have 2 cars with full coverage.

 

[1987 GMC Jimmy]

Does Hagerty not have a 20,000 mile per year plan, and can the truck be in your name and your son be listed as an insured member of your policy? When I started driving, that’s what had to happen to make it feasible in terms of cost because the companies hate teenage drivers more than they hate all their other policyholders. I’m in the 21-24 year old sweet spot of medium hate currently. My 32+ year old daily driver only has liability so this has me thinking about getting more comprehensive coverage to recoup losses should the worst happen.

The only time I’ve had an accident was a relatively small fender bender when I was seventeen because I was extremely ill (I’m talking pre-gangrenous, close to dual leg amputation sick here) and extremely angry. That physical-emotional combination is volatile and dangerous behind the wheel. I also feel that being a frequently courteous driver in an urban driving environment, especially in situations that have potential t-bone written all over them, has really paid off.

 

[idahovette]

In my experience your insurance is only as good as your agent. If you can find someone you are comfortable with that may work. Insurance is a PITA, but you are screwed without it. Have had good luck with Haggerty. the kids 68 Nova was in an enclosed last winter and the roof went in on it, no structural damage but it got soaked and mildewed bad. No questions , they cut him a check for $7200 and he kept the car. If it would have been mine I would probably still be arguing about it. He's just lucky that way

 

[Craig 85]

What about Grundy? I have full coverage on my '85 with State Farm even though it's not street driven yet (see below). When I'm done with the rebuild, they will insure it for stated value, but I have to produce receipts as stated above. I plan to actually have the truck appraised when completed so there is an independent person that can back up my claim to value.

This may not apply in your case, but it is cheaper for me to have full coverage on my truck (even though it's not street ready or driven). I list my newest vehicle as an extra vehicle, with no one assigned to it. It dropped my insurance $50 a month from just having my truck with comprehensive and paying full price on the 2 new cars.

 

[Frankenchevy]

I've brought up Ameriprise Auto insurance program for Costco executive members. I have 100k/300k full coverage with uninsured motorists, new car crash replacement on my wife's new Honda(has to be less than 5 years old for this to apply, I believe), full road side hazard assistance with unlimited free towing and all the other bells and whistles. I insure my non-business use vehicles on this policy including my excursion, Honda Element, Honda Fit, Volvo v70xc, and square body. my policy was $178/month when I first switched. after two years I got a loyalty discount and it dropped to $120/month. I have every discount you can think of though; no accidents, no tickets, bundled homeowner, etc. when I started the policy I went with stated value on the square at $5k. i need to update that value soon. I also have an inland marine policy and umbrella for everything else from work vehicles to tractors and it would cover my previously listed vehicles if a claim ever exceeded $300k.

my Costco membership pays for itself every year with the rebate check I get. its $120 a year, but my check back averages over $200.

 

[rpcraft]

Stated value is probably the best way to insure it and then go ahead and insure for personal protection and things to protect him in case of an accident, and then combine that with liability for protection of anyone else property that he is in the accident with.

 

[bucket]

We have Grange insurance through a local agent. They tell us to call as often as we need to switch our policy around. So a lot of or vehicles are on storage insurance most of the time. I forget the actual term for it, but it's a non-use type. Then when I know I'm going to start driving one again, we just call and have that vehicle bumped up to liability or full coverage. When the weather turns bad or I go out of town for a while, then we just call and have it put back on storage insurance. They never care about the age or vehicle when putting full coverage insurance on one.

And yes, the average company is going to 'offer' fair market value in the event of a total loss. But that is just a lowball starting point that you do not have to accept.

 

[roundhouse]

I don’t know of any company that will offer classic collector car insurance with a teenage driver or with regular use or without it being kept in a locked garage

You do need to keep all receipts and have it appraised
And just have full coverage as a normal car

And get uninsured / underinsured coverage

I’ve yet to get hit by anyone that actually had insurance


I’m way more worried about it getting stolen than wrecked
If it gets wrecked you still have all the parts
If it gets stolen. You have nothing


I use a secret kill switch that resets itself every time you use it
I like the low oil pressure shutdown setup with a hidden spring loaded override switch

Or just a hidden starter switch

We use a small push button that is recessed into the seat frame just under the seat cover down by the seat belt

You can feel it if you know where it’s at but even a passenger will not see you use it
It looks like you’re grabbing the seat belt

Or use a hidden gps tracker

 

[peats]

put the truck and insurance in your name, add your son as a driver,get an appraisal, (about $100) and document a few similar transactions on ebay. there is no need for loyalty in car insurance, shop it around and buy when you are comfortable and the price is right.