I notice that some of you have a lot of cars, like more than 3 (not counting cars from this century). I assume most of them are driveable. How do you handle the insurance situation? Do you keep them all insured so you can drive what you want, when you want? Or do insure just a couple and the rest are just for show? Even with bare minimum insurance on all, seems like the premiums would really add up. I'm toying with the idea of getting another one, but that is one issue that stops me.
It's tough. Lets see...I have 5 personal vehicles that I drive not including the company vehicles. My Super Duty I use mainly for towing so I insure for just part of the summer. The Lighting I may take out a couple weekends in the summer so in that case I just call in the weekends it is out. The rest of the time they have storage insurance on them. The two Buicks (that are drivable) have Hagerty. Then there's the DD Explorer Sport... wife's mostly that gets full coverage all the time. It sucks...
I have five vehicles, all insured through State Farm. Some are driven a lot (the DD is now driven by my wife for less than half the miles I used to commute), the rest are driven less, as in less than 5k miles per year. They are all insured 100% of the year, and I have a pretty good rate. We have home insurance and two life insurance policies as well, and pay less than $300 per month. But that is multi-line, no accidents.
We have four registered, one as an antique. We get a multiple-car discount and a low-mileage discount on three of them. We also have a nine-point insurance rating, which results in the lowest possible insurance rate in Massachusetts. It's really not too bad. Our total auto insurance bill - and we have plenty of coverage - is about half of what our ripoff homeowner's policy on our Florida house costs.
The one that I don't drive much and sits in a nearby storage locker, I have insured with my regular cars through Allstate, but only have minimum coverage. When I want to drive it, I call my agent and turn on the more complete coverage for the weekend or just for the day. I tell them when to return it back to minimum coverage. The other car that I drive more often and is in much better condition, I have with Hagerty.
I wasn't aware you could 'turn on' insurance for just a weekend. I'll have to talk to my agent about that. Lot of you mentioned Hagerty. I know they will insure classic cars to what they are worth. Are they also fairly inexpensive because they know classic car owners generally baby their cars?
As a licensed Insurance Agent and Agency owner, people that do this (both the agent and the insured) are playing with fire. Tread very, very cautiously in this area as you could be burned easily. We also represent Hagerty and are in the top 10 agencies for them nationwide. While they may not be the least expensive, you will never match their claim service or policyholder service. They are second to none.
Good to know. I often wondered about the legality of that. More than likely need to document and or has something to do with the time it is turned on (and off)?
Have your agent put it in writing. That way it transfers all to his coverage if there is a problem. The days of just saying "you've got coverage" are long gone. Document, document, document and make sure it is in writing. Now, when there is a problem, it will take a while for his Errors and Omissions coverage to pay your claim and you will have issues with your Bureau of Motor Vehicles (license suspension) due to the length of time it will take for his carrier to pay, but you "should" be OK. No guarantees though.... This is a giant can of worms. I'd leave it sealed up.
All of my insurance is with The Cincinnati Insurance Co. I have an agreed value policy on the Roadmaster with a mileage limitation of 6,000 miles/year My 2003 Durango and 1990 Ford F250 have daily driver full coverage. Also, my home owners and identity theft For a total of $1400/year I'm not sorry that I can't tell you how good it is I've never had a claim
have mine split up between 3 policies,. the Riv with Heacock Classic. Personal daily drivers(2) with Progressive and work trucks on a commercial policy with National General. use one of the work trucks to pull the cars.
/\/\/\ Exactly. This is why I use them. They also discount for using the correct year plate on your vehicle. We have them on all of ours. In Michigan, you never need to renew them.
Year of manufacture of the car. Some states allow an antique or classic vehicle to display a license plate from the year in which the vehicle was manufactured. You could use a plate from 1974 on your Buick, for example.
OP: I have five cars, and three are insured under a collectors policy of some form or another. All agreed value with mileage limit (I haven't ever gone over on anything). The dailies are insured the usual route with collision. I think my entire collectors insurance bill for the year is less than $500...
Thank You, Brad. When you register the plate, to the car, the registration papers have "Non-expiring" stamped on them. Good as long as you own the car. Next owner has to transfer them. In a state where two plates were required for the year of car you own, make sure you get both plates. Guy I know bought a 1940 plate, went to register and found that someone had the 2nd pate from the set registered already. Wasted his $$$. I have purchased new sets at swap meets for $35. Some of the plates were mine from my first cars. I have saved every plate I have ever had.
