another insurance question

[austinsailor]

I've been looking for insurance to replace the multiple policies I now have. The problems I've found are that no one company will cover all I need. I've got Hagerty on a '75 Vette and my 40 dodge, but I can't hook up my old boat to take to a meet - hagerty will not allow any trailer towing. I've got my '48 B1B pickup under Gulfway, which will cover towing, but not the vette, and very high cost on the 40 Dodge. To add my my 47 3 ton is a problem as well.

At the "Back to the 50's" car show I talked to many insurance vendors. One has followed up and seems to have all I need, American National:

http://www.anpac.com/products/p_c/chrome/default.aspx

But I never heard of them. Cost is very reasonable, I can tow, they will cover all of them. I've tried to get a copy of the policy itself, but it seems there is no such thing. They say that there is no fine print, if you buy it, your covered. Period. The mileage can be what ever you put on the application, there is no mention of storage method. I once had a boat policy that was about one paragraph of plain English, but never just "you're covered".

Has anyone used them? Ever had a claim? Any comments? Questions I should ask? Almost seems too good to be true.

[Plymouthy Adams]

perhaps the best things to do there is get with your insurance comissioner in your state..everyone must be licensed to sell in your state..everyone must meet a minimum standard..that minimum may or may not be enough protection..these companies like to sell mulitple policies as they know you cannot drive more than one car at a time and base their rate accordingly...

[1949P17BC]

Have you tried Hagerty? I have my two plymouths with them

[PatrickG]

Grundy may also be an option. They have no mileage limits or vehicle restrictions, only require that you have a different car you use for everyday things (commute etc)

[BobT-47P15]

As far as your boat, I would imagine you need a separate boat policy

for it, as the only thing most car policies cover is damage your boat

or trailer may cause to someone else....liability property damage.

But not physical damage to your boat.

Not many companies may want to insure that large a truck as an

antique......may want to do some sort of commercial rated policy.

Value of old vehicles is usually a question too......do you have

appraisals or professional evaluations on them to set a dollar

value?

I have only the 47 Plymouh which I insure with State Farm's antique

program. Don't know what their rule would be about towing a boat.

[claybill]

i have all 8 vehicles with STATE FARM. antique cars at @$100. annual.

mileage limit, nothing else.

bill

[austinsailor]

As I mentioned, Hagerty won't let you pull a trailer of any sort at any time. Same with Grundy. Grundy's quote was not bad, but still, never a trailer.

My post had nothing to do with boats, except an example of how another policy was worded simply. I do have a couple boats, but they are on my homeowner's.

Gulfway, this new one - American National, and Grundy will do the 3 ton truck, no problem, except no towing of any sort by Grundy.

Quote on the 4 vehicles, agreed value:

1975 Vette, $15000

1940 dodge sedan $6000

'48 B1B $2500

and the 47 3 ton $12000

was $294. This is for $250,000/$500,000/$100,000

Price is good if the coverage is there. I was hoping someone here had some experience with them.

I'm now paying about $220 for the Vette and 40 dodge, plus $180 for the '48 pickup, but no coverage on the '47 3 ton. So, I basically get the 3 ton for free, plus trailers are not a problem.

Guess I just need to go with them and see how it works.

[BobT-47P15]

Austin.......guess I got the boat thing from this part of your first post.....

"but I can't hook up my old boat to take to a meet"

I guess the reason I mentioned coverage for a boat is in case anyone would assume that

a boat would be covered by the same policy as on the car. That's what happens when you

used to work in an insurance office.

Edited August 11, 2010 by BobT-47P15

[BobT-47P15]

We have American National agencies here.......they seem to be about on

a par with other companies like American Family, Allstate, etc.

Here's a link to a page on their rating.......http://www.anico.com/ratings.dhtml

[knighthawk]

try J C Taylor, cheap antique coverage ( 4th car free) also will insure other stuff

[rockable]

There is a great article in the new Street Rodder magazine. All of you should read it. It will be on the website soon, if you can't find the magazine.

[rockable]

i have all 8 vehicles with STATE FARM. antique cars at @$100. annual.

mileage limit, nothing else.

bill

Bill, you should get one of their claims adjusters to tell you what they'd give you for a couple of your cars should they get totaled. It is highly likely that you will not be happy.

I had a 63 Porsche 356B that I spent nearly 3 years restoring. It was better than new. I had agreed value with Hagerty. The guy who rear ended me and totaled my car had Nationwide. All my other insurance is with Nationwide.

Hagerty offered to write me a check the day the adjuster said the car was totaled. I asked them to let me negotiate with Nationwide because I wanted to see how it went. After 6 weeks, they agreed to give me about 2/3 of what I had with Hagerty. I let Hagerty write me the check and they took it up with Nationwide.

I was heartbroken about losing my car, but I'd have been down right pissed off and mad if I'd had to take what Nationwide was offering. Get collector car insurance on your collector cars.

[desoto1939]

Here is some info regarding Antique car Insurance from the Grundy webpage:

The Antique Speiality Insurance companies insure the car on what is called Agreed Value.

I attend the AACA convention every year in Philadelphia and they have a seminar on Insurance for our antique cars. The AACA and the moderators can not stress enought that the regular car insurance companies will insure your car but they then will depreciate the car as they get older and base the price onthe blue book value. So a 1940 Plymouth even though restored has no value or very little.

Please look at the various specialty carriers to ensure that your car is covered and that you will not be caught on the short end of the deal.

I use Grundy and they paid a clim to fix a fender site un seen and it cost $1500 to fix and they did not bat an eye. The pplicy cost me around $120 a year for 15k on my 39 Desoto.

3) What is Agreed Value?

An Agreed Value Policy as opposed to a Stated Value or Actual Cash Value Policy is the only way to know in advance how much you will receive from an insurance company if your car is destroyed or stolen. With Agreed Value you will get the amount listed on your policy and it is also the basis of your premium.

Rich Hartung

Desoto1939@aol.com