I'm really close to putting the 3 1/2 year project on the road. Wondering about insurance. Do ya'll have your Mavericks insured by your regular insurance company or do ya'll have collector car insurance?
I have mine through auto owners. I have comprehensive which is decent and it covers hitting deer (lots of them here in MI) I also got it becuase it covers broken windshields. And since I had a broken one already it worked out nice. The guys even came to my house to install the new one
i have Classic car insurance through Hagerty. Very inexpensive for lots of coverage but there are some limitations.
I use American Collector's. They are the most liberal with collector car insurance in that there is no mileage restriction. Their coverage is not unlike Haggerty's or the other companies. Make note...with ANY collector car insurance company, you must have another car for a daily driver and provide proof on your policy application. Some companies require a copy of your regular car insurance policy with your collector car application. Amercian Collector's didn't require the copy of the regular policy, but they want the info on the application.
I have full coverage on mine through Allstate Insurance Company. The price is good, but I may eventually goto one of the classic car insurance companies.
Full Coverage thru a regular insurance carrier means that if the car is a total loss, they look up the value of your car in a book and cut you a check for what that book says. For a Maverick, I would guess the check would be for $500 to $1000 (Remember, it is their book they look the value up in). Most collector car insurance is a "stated value" type policy. You state the value of your car, they set the premium. If you say your car is worth $10,000....then that is what it is worth. They set the rate based on that amount. If your car is a total loss, you get a check for $10,000. Keep in mind, most collector car insurance companies state a limited number of miles be year to be driven, say 2500 miles. Also, the car is primarily driven for pleasure, NOT a primary vehicle for work, etc. My policy states that my cars can only be driven 2500 miles a year. I have to send in 6 pictures. All four sides, under the hood, and interior. Car can only be driven to car shows, parades, etc. Look around and make a decision based on your needs.
I also have my Maverick insured through American Collectors. So far have I not needed to file any claims with them, but I'm very happy with their rates and coverage. As Craig and Wes stated, when you insure your car through one of the Classic Car insurance companys, you will no longer be able to use your car as a daily driver, but you can still drive the car in cruises, parades and attend car shows. If you go this route, make sure you have an other vehicle for daily driving.
As Craig mentioned above... About 11 or 12 years ago some old guy was in a hurry to pull into a Hardee's and he pulled right in front of me, I T-boned him. My Mav had $1300 damage, the insurance company said it was only worth $700 so they totaled it. I told them my seats cost more than that! They didn't care, everything goes "by the book". They wrote me a check for $700, then I had to give them $130 back to buy my car back! I was ready to go do great bodily harm to that old man. I found out he had just gotten his car out of the body shop two weeks before that from when he crossed the line and hit a pickup truck head on.
I'm looking at "Grundy" collecter car insurance. They advertize on the car shows on TV. The agreed value would be about $15,000. This means if I total it (God forbid) they would not depreciate the value like standard insurance companys, they would pay the agreed value. They have unlimited mileage because they say they cannot accurately keep up with it and that people disconnect thier speedometers all the time. The only thing I saw that they required was that it be garage keep. Mentioned nothing about having a daily driver. Comprehensive/Collision was 100,000/50,000 if I remember corectly, Libility 50,000. Coverage only came to 251.00 per year.
Grundy is who I plan on getting, too. I had an appointment set up for the appraisal, but had to cancel because of work. You're right, the car has to be garage kept and you have to have another car for a daily driver. For $10,000 coverage the premium is $170 a year.
I started to go with Grundy but they had too many weird things that we couldnt agree on. Even after sending a check and telling me I was covered, a month later I got the check back and said there was an error in the paper work. So I was driving for a month without insurance. I gave up on them and called Hagerty. Everything went extremely smooth and even though I insured my Sprint for $28K, they didn't want a copy of the appraisal I had done on it. Plus Hagerty let me set the mileage per year per vehicle. I wouldn't send my worst enemy to Grundy, well, maybe my ex.
I just added my 74' that I recently bought (pictures coming soon) today to my insurance plan, and the agent asked how many miles and I told her, the agent then told me that I may want to insure it for more being that the car was a classic car. I said great and that I would like to do that, because I was thinking of switching to Hagerty Ins. The agent told me that they sold Hagerty as well, but since I have all my cars on plan so far that they could easily insure it for my stated value instead of the book value. The agent then asked me how much it was worth, and a few key clicks later I had my qoute! I know some one else on the board mentioned that their agent at I believe State Farm??? did the same thing with them, and they called them later and uped the value even more without a problem! Anybody have any experience like this before?
I tried Hagerty first. I liked some of their extra benefits, but they turned me down. They asked if I had a blower, turbo, or nitrous. I told them I had a mild N2O system. The guy said, "We don't insure cars with nitrous." So I went with Grundy. They never even asked about power adders and mileage is unlimited.
so how is grundy treating you? i have to make it hapen real fast. and dennis... get specific on your problems with grundy. my wife is setting things up with them right now.she is one who never leaves a stone un-turned. asks all the right questions. what other "issues" should we make sure we have spelled out? thanks
