Miss you guys

[desoto1939]

Sniper:  So basically people want to have an antique car that goes 80+ mph expect it to be treated like an antique car and have it insured like an antique but realy are driving an antique that is regestered as a regular modern car and expect to have the same insurance rates as an antique car.  You can not have it both ways.

 

either it is an antique car with antique car insurance and you have to obey the rules of the antique car policy.  This is the problem right now every one does not want to play by the rules set down by the insurance company.  They want it their way, can no be done. 

 

Ether an antique car or an antique car that would have to have semi annual or annual motor vehicles safety inspections  modern car and meet emissions controls and everything has to work including lights horns etc. and also pay the regular insuance rate of a regular car.

 

I guess you have to pick your posion.

 

Rich Hartung

[kencombs]

11 hours ago, desoto1939 said:

Sniper:  So basically people want to have an antique car that goes 80+ mph expect it to be treated like an antique car and have it insured like an antique but realy are driving an antique that is regestered as a regular modern car and expect to have the same insurance rates as an antique car.  You can not have it both ways.

 

either it is an antique car with antique car insurance and you have to obey the rules of the antique car policy.  This is the problem right now every one does not want to play by the rules set down by the insurance company.  They want it their way, can no be done. 

 

Ether an antique car or an antique car that would have to have semi annual or annual motor vehicles safety inspections  modern car and meet emissions controls and everything has to work including lights horns etc. and also pay the regular insuance rate of a regular car.

 

I guess you have to pick your posion.

 

hi

The way I read the other comments and my own interpretation of the problem is the term 'antique car'.

 

We are not necessarily dealing with antique, but rather specialty cars.  One whose value may not be accurately represented in price guides.  So we want to define its value for insurance purposes and use it as daily transportation, or at least have no hour, mileage or storage restrictions.

 

And we are willing to pay a fair price for that. 

 

When my 56 pickup is finished it will be worth far more (at least to me) than it was when I started work.  Better engine, 4 spd overdrive, better braking system, no rust holes, new paint etc.  None of those things are considered in any pricing book in my knowledge. However, NADA lists price ranges from 10  to 45K.  But there is no way of telling where in that range an adjuster may place mine if it was a total loss.

So, I need a company that will commit to a value in advance of a potential loss and provide otherwise normal insurance.  By normal meaning no restrictions on use, reasonable rates and depreciation in line with length of use after the initial policy is issued, just like a new car.

 

The same thing would hold true for a builder of a newer model custom car/truck.  It's not necessarily because it's old, it's a reflection of the investment.

 

I may never find such a policy, but that won't keep me from looking.  I'll give the challenge to a couple of local independent agents and let 'em search.

 

Mine  not a hot rod, I won't drive 80mph 'cause flatties don't like that, but that should have no impact on the rates of a policy as described

[desoto1939]

56 minutes ago, kencombs said:

The way I read the other comments and my own interpretation of the problem is the term 'antique car'.

 

We are not necessarily dealing with antique, but rather specialty cars.  One whose value may not be accurately represented in price guides.  So we want to define its value for insurance purposes and use it as daily transportation, or at least have no hour, mileage or storage restrictions.

 

And we are willing to pay a fair price for that. 

 

When my 56 pickup is finished it will be worth far more (at least to me) than it was when I started work.  Better engine, 4 spd overdrive, better braking system, no rust holes, new paint etc.  None of those things are considered in any pricing book in my knowledge. However, NADA lists price ranges from 10  to 45K.  But there is no way of telling where in that range an adjuster may place mine if it was a total loss.

So, I need a company that will commit to a value in advance of a potential loss and provide otherwise normal insurance.  By normal meaning no restrictions on use, reasonable rates and depreciation in line with length of use after the initial policy is issued, just like a new car.

 

The same thing would hold true for a builder of a newer model custom car/truck.  It's not necessarily because it's old, it's a reflection of the investment.

 

I may never find such a policy, but that won't keep me from looking.  I'll give the challenge to a couple of local independent agents and let 'em search.

 

Mine  not a hot rod, I won't drive 80mph 'cause flatties don't like that, but that should have no impact on the rates of a policy as described

 

When we are talking Specialty cars and or antique car/truck they are the same. We ae talking about Specialty Insurance Companies that specialize in insuring these type of vehicles.  Specialty Auto Insuracne companies have their written policy and has their limitation on what is covered etc.  You have to remember that these types of cars and trucks are not be used for comerical busines such as a pickup truck delivery hardware supplies to a customer.  That then would be considered a comercial use truck that is a work truck and would have to be registered as a modern and would also have to go through state inspections. 

 

I understand that you have made invesments to you specialty car/truck like we all have. i started with a 39 Desoto did chrome work, new tires, total repaint, etc. But if this was to be a daily driver and i wanted to insure with a regular car insuracne carrier they might offer a policy to insure the car but i do not think they are going to offer a policy of agreed value of $20000 for a yearly fee of $175.  

 

You regular company might commit to an agreed value but I would be asking a lot of question on how that agreed value works. It might be worded that they have an AGREED VALUE UP TO $20000. So when talking to the JC Taylor Specialty insurance compnay they stated that yes you have an Agreed value onthe car/truck  BUT with the written state of UP TO gives them the out to not pay the full amount and can make deductions, depreciation cost etc.

 

I know that Hagerty Insurance Specialty Insurance has some unique plans so would suggest that you might call them.  If I have invested so much time and effort into a specialty car/truck I want to make sure that I am covered for the full amount and not worry if the decision is upto the insurance company.

 

As owners we want the best of both worlds but right now there is no know options to have it both ways.  Sorry if some of you guys feel that the companies are not offering what you desire.

 

So here is an option.  If your car is worth $25K then invest that $25 in a savings account becasue that is you agreed value. Put it inthe bank let it grow interest or not. Your car is insured as a daily drier gets totaled and you get maybe $1000 becasue it is so old and the Blue Book has no value on it then you take out the $25 from the bank account and you are back to square one plus a Thousand dollars.

 

Since everyone is wanting their own special insurance plan I would ask that the ones that want this special policy start making some phone calls and get clarity on this  and then report back to the forum with their finding.

 

I have been inthis hobby for 35+ years and have attended man seminars onthis top[ic. So I am not a newbie on this topic.

 

So now its upto someone to investigate your special circumstances with an insurance company.

 

Rich Hartung 

[kencombs]

1 hour ago, desoto1939 said:

 

When we are talking Specialty cars and or antique car/truck they are the same. We ae talking about Specialty Insurance Companies that specialize in insuring these type of vehicles.  Specialty Auto Insuracne companies have their written policy and has their limitation on what is covered etc.  You have to remember that these types of cars and trucks are not be used for comerical busines such as a pickup truck delivery hardware supplies to a customer.  That then would be considered a comercial use truck that is a work truck and would have to be registered as a modern and would also have to go through state inspections. 

This is not true in my state.  Just tag it as a commercial vehicle if and only if its weight requires it.  No inspections needed unless the weight puts it in that class.  A pickup is a passenger vehicle and we have no emissions or safety inspections.

 

I understand that you have made invesments to you specialty car/truck like we all have. i started with a 39 Desoto did chrome work, new tires, total repaint, etc. But if this was to be a daily driver and i wanted to insure with a regular car insuracne carrier they might offer a policy to insure the car but i do not think they are going to offer a policy of agreed value of $20000 for a yearly fee of $175. 

I specifically stated that I was willing to pay a fair price. 175/yr isn't fair to the company as I pay much more than that for a later model truck which has the same value as my 56 will reasonably  have when done.

I

You regular company might commit to an agreed value but I would be asking a lot of question on how that agreed value works. It might be worded that they have an AGREED VALUE UP TO $20000. So when talking to the JC Taylor Specialty insurance compnay they stated that yes you have an Agreed value onthe car/truck  BUT with the written state of UP TO gives them the out to not pay the full amount and can make deductions, depreciation cost etc.

And that's fine, works just like a newer truck, starts at the 'list' price and goes down with age and use.   But the starting value is the sticking point, as most want to use the original MSRP or close rather than the value at the time of the  policy issueance.

 

I know that Hagerty Insurance Specialty Insurance has some unique plans so would suggest that you might call them.  If I have invested so much time and effort into a specialty car/truck I want to make sure that I am covered for the full amount and not worry if the decision is upto the insurance company.

 

As owners we want the best of both worlds but right now there is no know options to have it both ways.  Sorry if some of you guys feel that the companies are not offering what you desire.

 

 

1 hour ago, desoto1939 said:

 

Since everyone is wanting their own special insurance plan I would ask that the ones that want this special policy start making some phone calls and get clarity on this  and then report back to the forum with their finding.

I'll let an independent agent do that, as it is their profession and are much better at ferreting out coverage info and pricing than I am.

I have been inthis hobby for 35+ years and have attended man seminars onthis top[ic. So I am not a newbie on this topic.

 

So now its upto someone to investigate your special circumstances with an insurance company.

 

Rich Hartung 

 

[desoto1939]

2 hours ago, kencombs said:

 

 

Ken:  Inthe state of Pa we have regular tags for a passenger car and regular tags for trucks and also semi-s.  We also have antique tags and classic tags.  On our regular modern cars in Pa these have to be officaily inspectioned and also pass an emmisions test. If you drive the car or truck less than 5k miles a year then the emmsions is not done and you are not charge but you get the emmisions sticker put on the windshield along with the inspection sticker.

 

Out antique cars in Pa is one and done registration for life and the antique tag is for cars/trucks over 25 years old.  There is no annual inspection or emmision testing.  we have a Classic tag for cars over 15 but not at 25.  These cars still have to pass inspection and emission testing.  Our inspections include pulling opposite front and rear drums to check for the brakes and lining and any leaks. The vehicle are put up on lifts and check for emission or rusted out exhaust pipes and rust muffler and catalytic converts, They check the tread depth in all four tires can not be less than 2K in remaining tread and also on brake lining.  They check all lights stop and tail, horn.  At one point this was don every six months now every year. 

 

The cost is around $75 pass or fail if you fail then you have to make the chnages and then come back to verify the work was done and then get your stickers.  Current I own two regular cars and my car insurance runs me around 2k for the coverage with the towing car, rental, comprehensive and collision and full tort.

 

My 39 desoto is valued at 20K  with full coverage, full tort, towing, medical etc and that is around $175 yearsly and this has gone up every year, but my car is covered under a full Agreed value not a stated value that fluctuate with age, mileage, condition of the exterior and interior so the car loses value every day and every month and every year so it is a losing valuation on the cars.

 

But on the other hand my 39 Desoto no matter how many miles is on the car and based on the Agreed value if totalled I will automatically get 20K.  Yes I have some restrictions like not taking it to work, not using it for a weeding and getting paid, has to be stored in a locked garage and I am ok with those restrictions.  So you have a modern car truck and the cost of the vehicle was 35K right off the lost and you hope this covers the car/truck MSRP.  But here the car/truck has depreciated once you leave the parking lot becsue now its a used vehicle.  So instead of getting 35K  it might be only worth 30K.  This is why they have an xtra plan that you can purcashe at the dealership incase the down payment and the amt that you are financing if the car is totaled will cover the cost gap. 

 

I know you are in a different state but the specialty car/truck carriers all have their policies that they require a car owner to follow to have insurance with their company.

 

So again if you cannot find a company that suites your need then keep looking you might find one. But all of the ones that i have delt with and have had conversations with all follow the same basic rules of ownership. If you do not like their rules then you have to shop around until you get the coverage that you require.

 

Rich Hartung