Who's got just Liability Insurance on their "Investment"

[HDCharger]

I have upwards of 15-20 grand in my 69 Charger, however  it was all paid as I went.  I just got her on the road recently so I opted to just get liability insurance for now.  Kind of scares me to have that much in a Car that if something happened to it I would just be at a loss.

[Johnny SixPack]

I've got the "69 insured for what I paid for it, but the "70 is insured for $10K over the purchase price, since I know there's no way in hell I could replace it for what I bought it for now. 

I'd be way too nervous to drive with just liability. 

I'd recommend at least getting it appraised and then maybe adding to that price (I guess that depends on your insurance company's policies though).

[JimsSE]

If you haven't already, look into Hagerty Insurance.  They will insure for the "agreed value".  20 grand will probably cost you $250 or $300 per year.  They are pretty generous on the limits.  I think it has to be garaged when not in use and it can't be your daily driver.  Worth a shot.

Jim

[Old Moparz]

It would scare me too, to drive around with liability only. Heck, I had full coverage even when they were completely off the road in storage & as a project. I use Condon & Skelly (broker for Met Life) on mine, & will be updating the prices on a couple of them very soon with a renewal. I just did a quick estimate on line to see what the difference will be with increased coverage on two, & adding a car to make it 5 cars with full coverage. They cover modified cars now, so I'm not switching to another company.

http://www.condonskelly.com/

'68 Charger (project) value at $6500+/-
'69 Satellite Convertible, value at $7000+/-
'70 Road Runner, value at $20,000
'71 Scamp, value at $6500+/-
'71 Barracuda (project) value at $8500

The total premium was $406 for the year, & a no brainer if you ask me.

[Johnny SixPack]

Tell me more of this Condoms & Kelly.

I too have full coverage on 'em when they are sitting and going nowhere (just in the off chance something was to happen).

I'm definitely interested in the company and will check 'em out.

Quick question, are there any useage, or mileage per year limitations?

Thanks for the heads up, OM.

[Old Moparz]

With Condon & Skelly, there is a mileage limit of 2500 each year, per car. You must own a daily driver, & they ask for info on it as proof. You can't drive it to work, & it can also be in different stages of completion as a project. I had to write a short statement saying I was restoring it to it's original state.

I've had the policy, when it was only my Satellite, starting back in 1989 & the rates actually went down one year when the car turned a certain age. I ended up increasing the value anyway, but it was okay with me. I think there are more details on the website if you need them as well as a estimate page to get a price.

I never had to file a claim, so I don't know how that will work or not work if I ever need to. I haven't heard anything bad from anyone, so maybe that's good news. One more thing, they need photos of all four views of the exterior, one of the interior, & one of the engine bay.

[Johnny SixPack]

Thanks for the info OM.

It's the mileage limitations that kill it for me.

I've easily put 4000 miles on the "70 in the 14 months I've had it, but being in a state where you can drive year round makes a difference I guess.

That will probably change once restoration begins/is finished, but who knows.

Thanks again.

[694spdRT]

I had Condon and Skelly until last year and I switched to Haggerty last spring. I got tired of the mileage limits and they did not want to raise the value on one of the cars I have. It is easily half of the going rate on value. I had my local insurance guy check on Haggerty and now he is an agent. Right now I have $52,000 in full coverage on three vehicles and the annual premium is $373 without any appraisals.

[Brock Samson]

I'm with Zurich and it's pretty much the same deal, mines insured for $30K and costs just 400 per yr. they said they'd insure it for more but i'd need an apprasal... (i priced  apprasals at $300)
when ever i've had an "issue" they've been great! first class all theway no probs.. 

[HDCharger]

I will look into those also, my current provider (USAA) does not insure older cars for other than libility.  They farm it out to some collector car insurer who has the limits you guys mentioned.  Have anyone tried progressive?  Friend of mine has a 68 Camaro insured through them and I also have my Harley insured though them.

[4402tuff4u]

I have mine insured with Hagerty. Since the Charger and engine are both being worked on, as of now I've kept the replacement value at $ 11,000, what I paid for the Charger. Before that car leaves the auto body shop (next 3 - 4 months) I'm going to increase the replacement value between $ 45,000 - 50,000, because that's what the car is worth to me. I spoke with Haggerty and they told me to notify them when I'm ready and they will request photo's or have someone stop by. I'm guessing the premium will be up there somewhere,  but I have to protect the beanies I have dropped into it. Haggerty has a pretty good roadside policy if you break down in the middle of nowhere. Just stay with the Charger and call for assistance.

[bull]

If you haven't already, look into Hagerty Insurance.  They will insure for the "agreed value".  20 grand will probably cost you $250 or $300 per year.  They are pretty generous on the limits.  I think it has to be garaged when not in use and it can't be your daily driver.  Worth a shot.

Jim

Hagerty is the way to go. Awesome customer service and dirt cheap insurance for a lot of coverage. All they ask for is a few pictures and an agreed-to value. And I actually think $250-$300/year is a high estimate. Maybe not but mine is insured for $8,000 and I'm paying $80/year. Maybe they figure it at 10% but I don't think the premiums go up exponentially based on the value..

[694spdRT]

With Haggerty once you have the initial cost for coverage taken care of increasing the value is just a set amount per thousand dollars of coverage added. They also apply multiple car discounts like most other insurers.

[Old Moparz]

Thanks for the info OM.

It's the mileage limitations that kill it for me.

I've easily put 4000 miles on the "70 in the 14 months I've had it, but being in a state where you can drive year round makes a difference I guess.

That will probably change once restoration begins/is finished, but who knows.

Thanks again.

There is a statement somewhere in the plolicy, or in the application, that with permission, they'd allow you to go higher than 2500 miles. Not sure how that works, but with multiple cars it's okay for me. I know I won't be driving all of them, & with only 3 being roadworthy this year, that gives me 7500 miles total. If they are strict & it's just one car, maybe another company like Hagerty would be better.

[chrisII]

ive currently only got $2000 or so invested in my charger, so liability only isnt a big deal to me when i consider that even if it was hit i could part it out and get a good % of that back. im 32 and ive never had full coverace insurance on anything. in high school when i was on my parents policy i had "comp" but that still only covered acts of nature and other odd stuff. ive never spent alot on my daily drivers , and having ben a circle track racer so long i think i got used to the idea of possibly loosing my investment if i crash. at least on the street everyone is supposed to have liability , wich would pay for the damage they do or a% depending on how much fault was put on the other driver. when the value of the charger gets to over $5000 or so i will worry about full coverage. currently its stored and has no coverage on it.

[Chargen69]

Mine's insured for what I paid for it, the insurance people never even asked to see the car

[NYCMille]

I am currently switching to Haggarty from JC Taylor who kept giving me the runaround with quotes.  I called Hagarty, said I wanted to insure the Charger for 55K - they asked if I had an appraisal, which I do - they said good - send us $350 bucks a copy of your apprasial and some pics and your good to go... DONE! I hope this is the start of a beautiful friendship.

[Brock Samson]

I am currently switching to Haggarty from JC Taylor who kept giving me the runaround with quotes.  I called Hagarty, said I wanted to insure the Charger for 55K - they asked if I had an appraisal, which I do -


   "they said good - send us     $350 bucks a copy of your apprasial      and some pics and your good to go..."

Hey NYCMile:.. What's This Mean?.. I don't understand...

BTW: Ive had no problems with JC myself... 

[JimShine]

My '69 (only road worthy car as of now) is insured for approximately what I have into it, $11K.

[Orange_Crush]

A guy on Moparts has six classic cars, several of them are quite rare.  One is a 1 of 66 covertible '68 4-speed barracuda formula S, another is a VERY rare '67 Dart GTS 383 4-speed convertible car.  He also has two daily driver cars and three harleys. 

He only has liability insurance on all of them.  To his way of thinking, he has so much crap he'd have to get a second job if he got anything more then liability on them.

[NYCMille]

Strat -

JC Taylor gave me 3 different quotes, 3 different times and sent me the wrong paperwork twice. I was "Supposed" to have a modified policy, but it turns out I had a standard antique policy, when I called them about the descrepency they said that is what I requested, I then provided them with a copy of my "modified" policy that I had filled out and they didn't want to honor it saying I was paying the premium of an anitique policy and not a modified and if I wanted to switch my premium would go up by 350 bucks... no thanks. If they couldn't get this straight what would happen in the "GOD FORBID" the event of a claim.

[Just 6T9 CHGR]

I use www.americancollectorsins.com with no problems.   I have asked for increases many times online with no hassles

[derailed]

Ive been a happy customer of Condon and Skelly since 87. they are real easy to work with and have reasonable quotes. I named the price on my cars and that what they wrote them for with no appraiser just pics. Its rare Ive gone over the mileage limit but ive never had a problem with it and like OM said, theres a provision for that if needed.

[Dodge-Charger]

My daily ( Goldie) has full coverage as do all my Chargers. The Mini van just has Liability so does the Scout and International 1 ton.
  My rule is if the car is 30 years old it MUST have full coverage. Work trucks and such dont matter.