That seems pretty steep. Do you have any other cars? Often some companies will give you multiple car discounts.

Ways to reduce insurance costs:

1. Be the right age - for men that is above 30 and below 60.
2. Get married (for men).
3. Insure your home and cars through the same company - often you get multiple policy/multiple car discounts.
4. Set your deductible as high as you can stand.
5. Accept a milage limit.
6. Don't have any accidents or traffic tickets/violations.
7. Comparison shop among about 10 companies. (The net helps with this.)

Good luck.

John Harvey

 

Check with some other insurance companies for full time coverage. My stang was added on to my existing auto policy with an agreed upon value of $16k, full coverage with a $500 deductible for an additional $480/yr. Not as cheap as classic car insurance, but no limitations. You don't want to give the insurance company any reason to deny a claim.

 

There has to be something between the $200 hagerty wants and the $2000 Farmers wants for full coverage.

I think that it is pretty obvious why the difference. Based on Hagerty Insurance, or any other Classic Car Insurance Co, it is expected that the car will be driven on weekends mostly and not in rush hour traffic daily and on a limited basis at that. Their exposure is greatly reduced. Whereas Farmers has no limit when you drive it and how many miles.

Also in response to your question what happens if you have an accident driving out of policy – they won’t pay and will cancel your policy.

 

You are saying you want daily driver insurance on your old car but don't want to pay daily driver rates?

I don't want to either but then again if you want cheap insurance for the car then you have to sacrifice something and that would be to not use the car as a daily driver.

Insurance companies take a risk for allowing you to use the car as a daily driver. Old car insurance is cheaper because there is less risk.

Choose one but accept the fact there is a choice to make. You can't have it both ways.

 

Yes, Farmers wants to charge $1800 plus a year for a 5000 mile limit on the 69. That would be close to 40c a mile for insurance, more expensive than gasoline.

If I could find a 5000 mile limit, no destination limit policy for full coverage at around $500 a year, I would be happy with that. I have not done an exhaustive search so maybe I'll find something.

 

Better finding out here than the hard way.

I guess you could get both, but if you DID have an accident covered by one and the other company found out, they could still cancel the policy.

Did you ask Farmers about a reduced mileage policy? When I was with State Farm with Shari, I had a 7500 mi / year limit , full coverage, and I was paying something around $550/yr.

 

Oh well. How about if I carry both the Farmers liability only policy and the hagerty policy? Use the hagerty if I'm in an accident in policy and use Farmers if I'm in an accident out of policy. At least I have some comp and collision coverage at a reasonable price.

This insurance thing aggravates me. There has to be something between the $200 hagerty wants and the $2000 Farmers wants for full coverage. I think I can keep it under 5000 miles a year, I just don't want the limits on where I can drive.

Thanks for brightening my day there Steve.

 

We have had many discussions about this before...

See this link..

http://forums.vintage-mustang.com/forums/showflat.php?Cat=&Board=forum&Number=788873&Forum=All_Forums&Words=18289&Match=Username&Searchpage=1&Limit=25&Old=allposts&Main=785747&Search=true#Post788873

BTW..my GF is an / my insurance agent....

 

They could withhold payment completely and let the injured party sue you. You only have insurance when you are driving within the stated limitations of that policy.

Oh, and they'd likely cancel your policy, too.