Insuring a restored '83 defender/classic car or truck - Defender Source
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  #1  
Old September 10th, 2009, 04:03 PM
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RYAN BEIS
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Insuring a restored '83 defender/classic car or truck

Guys,

Just wanted to get everyone's take on insuring a restored '83, '84 or earlier defender, or any "antique" or deemed "classic" car for that matter. I contacted American Collectibles last week, and apparently, it can be done....but the premium is outrageous...around $900 for the year. Basically, you tell them the value of your car including what you paid for the vehicle and all modifications. They have stipulations on insuring a classic car, where it can only be driven 7,500 miles a year, and cannot be used as a daily driver, etc, etc.

Bottom line, I have alot of money invested in my 110 and it would kill me to only get $1,500 or so for a vehicle that I've dropped close to $45,000 into...if it gets totalled or stolen....and at that point the $900 premium is just a side note. Anybody have experience with this, or know what route to take? Please PM me if you have any experience with this. Thanks alot guys!

-Ryan
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  #2  
Old September 10th, 2009, 04:24 PM
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Haggarty or grundy, I forget which one I have for the series truck. Agreed value, you have to send in pics etc. They are very flexible in policy terms, but you must have another vehicle and the classic must be garaged.

Ron
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  #3  
Old September 10th, 2009, 05:14 PM
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i had no idea this was such a pain in the ass... maybe I won't get an import '83!
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  #4  
Old September 10th, 2009, 05:19 PM
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Ryan,
In the case of your Beach Runner I would without a doubt use as Ron said Haggeray ( I had the 109 and couple of old toys ).
If you provide them with ( like I am sure Stephen would give you ) a long and distinguished list of upgrades, repairs you will have no problem getting a substancial Agreed Value.

Follow-up Post:


Quote:
Originally Posted by TravelerBT
i had no idea this was such a pain in the ass... maybe I won't get an import '83!
Has not so much to do with being an IMPORT as it does to CYA for good pesos in case of a situation.

( every vehicle / toy I own is under agreed value , so when something happens there is no need to be listenning to BS as to what the Market is now , or depreciation, etc )
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  #5  
Old September 10th, 2009, 05:53 PM
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I agree about Haggerty. I used them for years on my old sports car. They don't care what you've done to it. You tell them how much you want it insured for and that sets the premium.

However, be careful: their policy terms do NOT allow offroad use. Hence, I didn't use them for my '83 HCPU.
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  #6  
Old September 10th, 2009, 05:54 PM
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Quote:
Originally Posted by TravelerBT
i had no idea this was such a pain in the ass... maybe I won't get an import '83!
It was such a PITA to insure my 1984 90" for 20K, I am not sure anyone should buy an old import... Just not worth the effort

I had to Dial 7 numbers
Press send
Give my insurance agent my vin #
Tell them that I wanted it insured for 20K
Send check

Yes, I am being a smart ass but if something as simple as getting a car insured would stop you from importing one then you should not even bother as there are parts of the import process that require much more time and effort than getting insurance such as the DMV.

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  #7  
Old September 10th, 2009, 06:24 PM
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Quote:
Originally Posted by dave_lucas
It was such a PITA to insure my 1984 90" for 20K, I am not sure anyone should buy an old import... Just not worth the effort

I had to Dial 7 numbers
Press send
Give my insurance agent my vin #
Tell them that I wanted it insured for 20K
Send check

Yes, I am being a smart ass but if something as simple as getting a car insured would stop you from importing one then you should not even bother as there are parts of the import process that require much more time and effort than getting insurance such as the DMV.

are there limits on how many miles you can put on it a year?
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  #8  
Old September 10th, 2009, 06:29 PM
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Nope, it is just normal full coverage insurance but with an agreed value of 20K.
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  #9  
Old September 10th, 2009, 06:39 PM
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Quote:
Originally Posted by JohnsD90
are there limits on how many miles you can put on it a year?
It'd be best to call Hagerty and ask them, but I did find an article that stated the following:

"According to Hagerty Insurance, 2,500 miles has long been considered the average annual usage, but a 5,000-mile option is often available."

This from: http://www.insure.com/car-insurance/vintage-autos.html
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  #10  
Old September 10th, 2009, 08:14 PM
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Quote:
Originally Posted by newfD90
It'd be best to call Hagerty and ask them, but I did find an article that stated the following:

"According to Hagerty Insurance, 2,500 miles has long been considered the average annual usage, but a 5,000-mile option is often available."

This from: http://www.insure.com/car-insurance/vintage-autos.html
i guess at the point i would put TMU (true mileage unknown)
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  #11  
Old September 10th, 2009, 09:05 PM
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I'm going through the exact same thing, trying to insure my '84 that I've sunk a lot of dough into. I tried several specialty "collector/classic/antique" companies, and they all had stipulations such as it had to be driven fewer than XXXX miles/year, kept in a garage, not daily driven, not driven off road, etc. I don't have a garage, or another vehicle, and don't want my insurance company telling me how to drive my truck. Tried Allstate, USAA, Hagerty, and some others I'm forgetting.

In the end, I called Nationwide and told them I wanted an "agreed value" policy. They said they could do it, as long as I sent them an appraisal. Haven't had the appraisal done yet as the truck isn't finished. So that may be a problem trying to get someone to appraise it for what I think it's worth (although the father of someone here on the board is a certified auto appraiser and said he could probably do it for me).

So maybe try Nationwide. PM me if you want any more info (i.e., on the appraiser). Good luck, and let us know what you decide . .
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  #12  
Old September 10th, 2009, 09:26 PM
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You might try American Family, that is who I use and have not had any issues insuring my 84.

We have been with them for a long time and our agent is a family friend so maybe that makes a diffrence
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  #13  
Old September 10th, 2009, 10:33 PM
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Atlantic Mutual ( Parent Company )

Balboa Insurance and ACE subsidiaries , all have Agreed Value no limitations on use
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  #14  
Old September 10th, 2009, 10:37 PM
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  #15  
Old September 10th, 2009, 11:01 PM
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Guys, thanks for the advice. It looks like I'm going to be considering American Collectors Insurance, Haggerty, or Nationwide. This is going to require some homework for sure. Thanks for the tips. Any other advice would be very helpful.
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  #16  
Old September 10th, 2009, 11:43 PM
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What's wrong with USAA? Document what the truck is and save the invoices, so if there is a claim, you can demonstrate the value. I don't like American Collectors personally, and USAA has discontinued their partnership with them.
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  #17  
Old September 10th, 2009, 11:56 PM
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Ya know Jim, USAA was the first place I went. Haha Actually, their classic/antique section re-directed me to American Collectors. What's wrong with them?
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  #18  
Old September 11th, 2009, 12:43 AM
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I never found a good policy. Mine is a 1990 and it is too new for classic, too not NAS for normal. Mercury actually did it, but the policy sucked. If I had a total loss, I was in for a huge fight.
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  #19  
Old September 11th, 2009, 09:18 AM
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Quote:
Originally Posted by tommyd

In the end, I called Nationwide and told them I wanted an "agreed value" policy. They said they could do it, as long as I sent them an appraisal. Haven't had the appraisal done yet as the truck isn't finished. So that may be a problem trying to get someone to appraise it for what I think it's worth (although the father of someone here on the board is a certified auto appraiser and said he could probably do it for me).

So maybe try Nationwide. PM me if you want any more info (i.e., on the appraiser). Good luck, and let us know what you decide . .
Look in the yellow book or online for a classic auto appraiser. I used a local one from the southshore 6-7 years ago. He looked at the book value and auctions/for sale listings of comparable d-90's and then used all of my receipts from my rebuild to come to a value after we discussed it. I was satisfied with his assessment and while not his specialty, was pretty painless and accepted by Liberty mutual at the time for Agreed Value.
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  #20  
Old September 11th, 2009, 10:07 AM
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I have 5 old cars insured through Haggerty and have never had a problem. Easier to work with than American Collectors.
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