classic car insurance

fine2ne

fine2ne

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Just wondering if anyone has any experience with something like this. I'm looking at possibly getting a 70s model buick convertible. I have no idea how insurance works on a car like that. Can you get things like that insured for just the summer? It's going to be pretty cheap probably getting it for like 8k or something like that. So not some super fancy one worth very much. Just wondering if i got or can get basic insurance or would i need some specialty type for a classic car that would cost a fortune?
 
I have my car insured with Silver Wheels/Hagerty insurance. It only cost me about $320.00 for the whole year . They have a few rules you have to follow. You can't drive it to work ,can't drive it to go shopping stuff like that.


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I had Silver Wheels for years when I had this car:


You will need to have your classic appraised as that is how they know how much to cover you for. Check with them to see who they recognize as an appraiser. The appraisal takes time and then they have to get the report into the insurance company. $250-$400 is what your annual premiums will likely be. As Len8827 mentioned there are some caveats to the insurance but for weekend drives, car shows etc you are all good.
 
There are two very different routes you can go.

1) Historic plates and insurance with a company like silver wheels.
Pros - cheap (~$250/yr)
Cons - very limited in the use of the vehicle, it can be driven to the mechanic or organized events, you can't just go out driving

2) Normal plates/insurance
Pros- use the car however/whenever you want
Cons- expensive (~750/yr), need an appraisal before they will give you an insurance quote.

You can drop the coverage to comprehensive only for the winter.
 
With Silver Wheels I can drive my car anywhere I want I just can't drive it to work shopping or church


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From the website
Our Hagerty Classic Car Insurance provides insurance coverage for vehicles used for hobby and/or collector car activities, and not used for regular transportation (i.e., shopping, vacation, business and to and from work).


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I have a few cars insured with Hagerty for a number of years.

The process to sign up is pretty easy.
No appraisals just send them a picture of the car. I can't remember exactly what was involved but I remember being in disbelief about how easy it was.

I like the agreed coverage so there is no funny business after an accident about what the car was worth.
I've never had to use the roadside assistance but that's included as well and has pretty awesome coverage. 80km free towing, $125 of each service call covered (tire change, fuel delivery, lock out, etc).

I've got friends that seem to get have better rates.... but I have a car that has an agreed value well into 6 figures and my yearly is only $785 a year so I'm not complaining.

Thankfully I've never had to make a claim but I am happy with them so far.

A bonus is you get the Hagertys magazine for free which is always a fun informative read that is written at least as well as any other newsstand classic car magazine.

** PS - Welcome to a whole new hobby that will make the expenses of motorcycle seem laughable. ;)
 
I had a 1978 Pinzgauer Swiss Army truck insured with Hagerty's.I'm not sure they even knew what the hell it was and they insured it.I think I paid barely $200 a year.
 
Fawaz said:
I have a few cars insured with Hagerty for a number of years.

The process to sign up is pretty easy.
No appraisals just send them a picture of the car. I can't remember exactly what was involved but I remember being in disbelief about how easy it was.

I like the agreed coverage so there is no funny business after an accident about what the car was worth.
I've never had to use the roadside assistance but that's included as well and has pretty awesome coverage. 80km free towing, $125 of each service call covered (tire change, fuel delivery, lock out, etc).

I've got friends that seem to get have better rates.... but I have a car that has an agreed value well into 6 figures and my yearly is only $785 a year so I'm not complaining.

Thankfully I've never had to make a claim but I am happy with them so far.

A bonus is you get the Hagertys magazine for free which is always a fun informative read that is written at least as well as any other newsstand classic car magazine.

** PS - Welcome to a whole new hobby that will make the expenses of motorcycle seem laughable. ;)
Click to expand...


Whatcha got post it up
 
Len8827 said:
From the website
Our Hagerty Classic Car Insurance provides insurance coverage for vehicles used for hobby and/or collector car activities, and not used for regular transportation (i.e., shopping, vacation, business and to and from work).


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Click to expand...

yeah however shopping can be buying a pack of gum or a drink at the store so the restrictions are stupid. But most "classic" cars in canada are junk that rarely get driven. Go to most cruise ins or car shows and you can see the people who drive 20 miles maximum and sit all day to then drive 20 miles back home.
i like to drive mine all the time everywhere
 
I use my classic all summer long, if its sunny, I'm driving it.

With that said, I still don't take it to work, but I've taken it shopping and to run errands. One of these days I should really check my State Farm policy, I know for sure they won't allow business use, but not too sure about other restrictions. I pay $30/month, no appraisal, but I took the car to my agent for verification and they went by the value I gave em.
 
GreyGhost said:
There are two very different routes you can go.

1) Historic plates and insurance with a company like silver wheels.
Pros - cheap (~$250/yr)
Cons - very limited in the use of the vehicle, it can be driven to the mechanic or organized events, you can't just go out driving

2) Normal plates/insurance
Pros- use the car however/whenever you want
Cons- expensive (~750/yr), need an appraisal before they will give you an insurance quote.

You can drop the coverage to comprehensive only for the winter.
Click to expand...


I advise against getting historic plates as you will be severly limited on when and where you can drive. Basically to and from shows only as mentioned.

Normal plates and insurance shouldn't be anywhere near $750 as long as you are old enough and with a good record. I pay $162 a year for a 1965 Chevy with Hagerty which they valued at $8,000. They do their own appraisals, all you have to do is send in a ton of pics.
However, you still can't really drive whenever, wherever. Leaisure only technically. No work, school or shopping for example (by which they generally mean - don't leave the vehicle unattended).

SF also insures old cars (see above). However, from what I gather their premiums are two, three times higher than Hagerty. I don't know what limitations they enforce. I'll have to look into it because down the line I want to be able to use my car as a daily driver if I choose to.
 
Last edited:
GreyGhost said:
There are two very different routes you can go.

1) Historic plates and insurance with a company like silver wheels.
Pros - cheap (~$250/yr)
Cons - very limited in the use of the vehicle, it can be driven to the mechanic or organized events, you can't just go out driving

2) Normal plates/insurance
Pros- use the car however/whenever you want
Cons- expensive (~750/yr), need an appraisal before they will give you an insurance quote.

You can drop the coverage to comprehensive only for the winter.
Click to expand...

I believe Silver Wheels was the one that told me I can still take the car to work/normal use as long as the mileage isn't too much and you aren't doing it on a regular basis but maybe that was a different company. But like you said, most of the other companies will not allow this. It's very cheap to insure on these plans (I was quoted around $250/yr in Toronto). I can't get it because you need to have a permanent garage for Silver Wheels (or whichever one it was that said I could still drive to work occasionally).

The appraisal thing isn't really an issue because EVERY insurance company I've put my 944 on required an appraisal anyway, regardless of the type of insurance.
 
What is the youngest a vehicle can be to able to be considered under Silver Wheels?
 
Guys/gals thanks for the great responses. From what it seems like i won't be forking out too much on insurance for this thing. I'll be sure to post up a few pics once i get the car. Thanks again.
 
Forgot to mention that even if you get regular insurance you can suspend coverage for the winter.
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