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rficalora
Rob Ficalora
Willis, TX
(2683 posts)

Registered:
10/24/2007 02:46PM

Main British Car:
'76 MGB w/CB front, Sebring rear, early metal dash Ford 302

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For those who drive them: Insurance
Posted by: rficalora
Date: July 12, 2010 12:17PM

Ok, how do you guys who regularly drive your british V8's (or 6's, I4's, yada yada) insure them? I'd apparently misunderstood some of the exclusions -- so far, all the companies I've checked -- even those with 5k or 6k mileage allowances still require the miles be for "hobby" use -- parades, shows, events like British V8 week, etc. Not a run down to the corner store, the office, or taking a kid to scouts.


Bill Young
Bill Young
Kansas City, MO
(1337 posts)

Registered:
10/23/2007 09:23AM

Main British Car:
'73 MG Midget V6 , '59 MGA I6 2.8 GM, 4.0 Jeep

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Re: For those who drive them: Insurance
Posted by: Bill Young
Date: July 12, 2010 12:36PM

Rob, I just have a standard liability policy on the Midget, figure that I'd have to fix it anyway in the event of a crash and if it was totaled I don't have so much in it I couldn't just walk away if I had to. Have you checked with Haggerty? I thought they had an agreed value policy that was pretty open as to the use except for racing.


rficalora
Rob Ficalora
Willis, TX
(2683 posts)

Registered:
10/24/2007 02:46PM

Main British Car:
'76 MGB w/CB front, Sebring rear, early metal dash Ford 302

authors avatar
Re: For those who drive them: Insurance
Posted by: rficalora
Date: July 12, 2010 06:52PM

Haggerty's web site indicates otherwise, but the lady I talked with on the phone @ Haggerty told me use is restricted to hobby type use. Car shows, parades, shops, etc. I'll have to call back to see if I get a different answer.


Spitfire 350
Phil McConnell
Perrysburg, OH (Toledo area)
(194 posts)

Registered:
01/11/2010 09:19PM

Main British Car:
74 Spitfire 350Chevy

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Re: For those who drive them: Insurance
Posted by: Spitfire 350
Date: July 12, 2010 08:06PM

Rob,
I have my Spitfire insured on my regular auto policy. We have three drivers, each is "assigned" as primary driver to one "normal" vehicle. All of the other vehicles are catagorized as "driven for pleasure" This catagory allows you to choose your coverages just like any other catagory and there are no milage limits. I personally keep the liability well above the Ohio required amounts. My 71 Beetle does not get full coverage yet because it isn't worth that much. My Spitfire on the otherhand, is covered for a "stated amount" of $25,000. With all of my discounts, home, multi-car, good driver, etc. it only costs $475 a year. The company was Auto-Owners, but the name appears to have changed to just Owners.

Hope this helps, and I hope you have a quick and complete recovery.


MGB SS
Joe Schafer
Central Michigan
(150 posts)

Registered:
10/23/2007 06:46AM

Main British Car:
1971 Mgb 1991 5.0 Ford

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Re: For those who drive them: Insurance
Posted by: MGB SS
Date: July 12, 2010 09:55PM

I have Haggerty Insurance on my car and the way it was explained to me was. If you have a collector plate or a historic plate on it the rate is cheaper and it is for Parades, shows ect as stated above. If you have a regular license plate that you renew every year the insurance cost you more but it is for normal driving. I have asked a couple times and that is how it was explained to me. I would call Haggerty and ask them.

My Corvette is insured with my regular insurance carrier and has an agreed upon value, usually need an appraisal (also with Haggerty) for this.

By the way Haggerty is way cheaper and a better policy.


mowog1
Rick Ingram
Central Illinois
(1502 posts)

Registered:
10/17/2007 09:36PM

Main British Car:
1974.5 MGB/GT 3.9l Rover

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Re: For those who drive them: Insurance
Posted by: mowog1
Date: July 13, 2010 04:29AM

Phil, et al....you would be wise to get an "agreed value" policy rather than a "stated value" policy....protects YOU better in case of an accident.

With a "stated value" policy, YOU are stating what the car is worth, but the company is not obligated to pay that value.

With an "agreed value" policy, both you AND the company agree that the car is worth "x" dollars and that's what the payout will be in a total loss.


Ianp
Ian Porteus
Toronto, Ontario, Canada
(7 posts)

Registered:
07/03/2010 11:27PM

Main British Car:
Soon to be TR6

Re: For those who drive them: Insurance
Posted by: Ianp
Date: July 13, 2010 03:45PM

Just recently joined, and have found this site to be great for information.
Thanks for starting this thread, Rob. Thanks to all those who have responded. I am considering buying a TR6 (first time owner), and had the same question. Now I have answers. All is well.

Ian


rficalora
Rob Ficalora
Willis, TX
(2683 posts)

Registered:
10/24/2007 02:46PM

Main British Car:
'76 MGB w/CB front, Sebring rear, early metal dash Ford 302

authors avatar
Re: For those who drive them: Insurance
Posted by: rficalora
Date: July 13, 2010 04:14PM

So far, I've only found two options:

I haven't checked Phil's "AutoOwners" yet, but everything else seems to fall into two buckets...

Specialty car insurance (Hagerties, AmericanClassic, etc.) that, while they have reasonable mileage limits, they seem to limit those miles to hobby use. I've not circled back to Haggerty per Joe's input but from what I've read, they don't seem to allow driving to work etc. Joe, you might want to double check as you may be running w/less coverage than you think.

Regular auto insurance -- most won't write collision for 20yr old cars so only viable option there seems to be liability only like Bill has.

I have yet to find a regular insurance Co that will write an agreed or stated value policy or a specialty company that will allow "regular" type use with the mileage limits. Maybe I'm asking the questions the wrong way?


MGB SS
Joe Schafer
Central Michigan
(150 posts)

Registered:
10/23/2007 06:46AM

Main British Car:
1971 Mgb 1991 5.0 Ford

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Re: For those who drive them: Insurance
Posted by: MGB SS
Date: July 13, 2010 08:12PM

My Vette is with Auto Owners and it is 24 yrs old. As mentioned above it is on agreed value.

You should call Haggerty to get a clarification and I will also do the same as I am told that I am covered for everything accept race tracks and speed events But do call them don't take my word for it .


RMO 699F
Mike Maloney
SW Ohio
(528 posts)

Registered:
12/09/2007 12:28PM

Main British Car:
1974 MGB Sebring GT, 3.9 Rover V8

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Re: For those who drive them: Insurance
Posted by: RMO 699F
Date: July 13, 2010 09:28PM

I used to put liability only on my mg cars (both v8 and stock). It was costly even for that somewhat limited coverage. A few years ago a local guy recommended Haggerty. I was nervous about it, having mg's with v8 engines. Then someone gave me the local Haggerty agents email address which turned out to be "tigercrazyguy at blah blah blah...turns out he had a couple of highly modified tigers, was an enthusiast of british v8 cars, so a lot of my fears were reduced....I ended up getting more complete coverage for about half the price....My take at the time was that a lot depends of the specific agent and what he will tolerate (I could be way wrong) I will say that my monster miata has liabilty only with my regular insurance agent until I decide what to do...as I remember it at the time I went with Haggerty the agent said I could drive about anyplace I wanted but the mileage was greatly reduced...but since reading this discussion I am going to call him and nail down the specifics...I'll let you know...



Edited 2 time(s). Last edit at 07/13/2010 09:31PM by RMO 699F.


mowog1
Rick Ingram
Central Illinois
(1502 posts)

Registered:
10/17/2007 09:36PM

Main British Car:
1974.5 MGB/GT 3.9l Rover

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Re: For those who drive them: Insurance
Posted by: mowog1
Date: July 13, 2010 09:50PM

FWIW - I currently have State Farm coverage on ALL of my vehicles...no limitiations on mileage or when/how driven (other than racing) AND it includes collision...from my 1968 MGC all the way through my 2010 F150.

Not as inexpensive as Hagerty, etc....but I know what the coverage is in black and white. I'm also allowed to take all coverage except for comprehensive off during the months that the cars are in storage (other than the 1968 and 1969 MGCs...but those premiums are less than $200/year)



Edited 1 time(s). Last edit at 07/13/2010 09:53PM by mowog1.


danmas
Dan Masters
Alcoa, Tennessee
(577 posts)

Registered:
10/28/2007 12:11AM

Main British Car:
1974 MGBGT Ford 302

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Re: For those who drive them: Insurance
Posted by: danmas
Date: July 13, 2010 10:46PM

Quote:
My take at the time was that a lot depends of the specific agent and what he will tolerate (I could be way wrong)

Mike,

I believe you are wrong, at least you would be if you lived in Tennessee. I filed a lawsuit over an accident a few years ago, and I learned from my lawyer that NOTHING an agent says has any legal status at all. The ONLY thing that counts, here in Tennessee, is what the actual policy and the applicable state laws say. It may well be different in other states, but you sure want to find out before you really need to know! Whoever you have insurance with, be sure to read your policy very carefully, and if you are not sure about anything, check with an attorney that specializes in such things. This is the voice of experience speaking.

I have collector/antique auto insurance from State Farm, and I am very much limited to where I drive. I'm only covered for shows, club outings, trips to the repair shop, etc, and the "occasional" pleasure drive. I hope I never have to learn just what constitutes "occasional." I could get regular insurance through State Farm, but it would only cover the replacement cost of a "stock" MG, which is well below replacement cost of my car.

For now, I'm keeping the collector car insurance, but in a year or so I'll drop back to regular insurance and take my chances. I really hate that I can't just jump in the car and head down to the hardware store or Wally World in it just for the pleasure of driving the little green @#$%&.

Hagerty specifically excludes using a collector car to run errands, even occasionally. I received a rejection letter from them with that being given as the reason for the rejection - occasional errand runs not allowed.


RMO 699F
Mike Maloney
SW Ohio
(528 posts)

Registered:
12/09/2007 12:28PM

Main British Car:
1974 MGB Sebring GT, 3.9 Rover V8

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Re: For those who drive them: Insurance
Posted by: RMO 699F
Date: July 13, 2010 11:14PM

Dan, thanks for the heads up...I'll be checking the policy and talking with the agent...


rficalora
Rob Ficalora
Willis, TX
(2683 posts)

Registered:
10/24/2007 02:46PM

Main British Car:
'76 MGB w/CB front, Sebring rear, early metal dash Ford 302

authors avatar
Re: For those who drive them: Insurance
Posted by: rficalora
Date: July 13, 2010 11:52PM

Post what you find out Mike. I'm going to call them back tomorrow.

Only partial answer I found is "Classic Auto Insurance". Sales rep at their 800 number did tell me they do not advertise it but do offer a rider of sorts for "occasional pleasure use" including an occasional drive to work, errend, etc. That's about the best I've found. For that priveledge they double the premium -- I gave them an estimate of $25k value [which I'd have to substantiate to get agreed value - so may be off a bit]. Texas policy would be $460/yr which is a lot for specialty insurance -- but at least I'd be able to drive it on nice fall/spring days. Would still have to change my plans for it to be my daily driver or be willing to go w/o collision when I do.

Rick, if State Farm will write a policy for a modified car, that may be the answer. Book on a '76B, surprisingly, ranges from a low of $4,500 to a high of $16,550 (higher than your 68 C which topped out @ $15,500 if it has overdrive by the way). I'm sure I could provide evidence of it being in the "high" range. Question is whether they'll write the policy for the modified car.


danmas
Dan Masters
Alcoa, Tennessee
(577 posts)

Registered:
10/28/2007 12:11AM

Main British Car:
1974 MGBGT Ford 302

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Re: For those who drive them: Insurance
Posted by: danmas
Date: July 14, 2010 11:00AM

Rob,

For my collector car policy with State Farm, I had to submit photos and a written description of the modification that were made. There was no question that the car was modified.

Please let us know what you find out about the pleasure use rider.


RMO 699F
Mike Maloney
SW Ohio
(528 posts)

Registered:
12/09/2007 12:28PM

Main British Car:
1974 MGB Sebring GT, 3.9 Rover V8

authors avatar
Re: For those who drive them: Insurance
Posted by: RMO 699F
Date: July 14, 2010 02:07PM

Dan ,Rob et al.
I sent the below email to my insurance agent for clarification. I thought it would be good to get an email from him for the record. My guess is that he will ask me to call him. Either way, I will post his responses. Dan, after his responses, I will ask him to tell me where I can find the specifics in the policy.

<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<
Hi John, Mike Maloney here....I have been reflecting on my insurance coverage.
It's been a while since I signed up and I think I need a reminder of what coverage I have, specifically on my red mgb gt V8 car

1. If I drive to a car show am I covered?
2. If I drive say 200 miles to car show am I covered?
2a. While at the show, if I drive someplace to get something to eat, am I covered?
2b. If I drive to my motel while at the show, am I covered?
3. If I take the car to a repair shop, is that covered?
4. If I decide on a given day to simply take my car out for a pleasure drive of say 30/40 miles, is it covered?
5. If I want to go to the grocery store in this car, am I covered?
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>


kstevusa
kelly stevenson
Southern Middle Tennessee
(943 posts)

Registered:
10/25/2007 09:37AM

Main British Car:
2003 Jaguar XK8 Coupe 4.2L DOHC/ VVT / 6sp. AT

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Re: For those who drive them: Insurance
Posted by: kstevusa
Date: July 14, 2010 02:27PM

Well Mike, covered for what? Liability? Comp?Collision? Uninsured motorist? Perhaps you should schedule a sit down visit with your agent and check.

Now that the issue of "Curb Service" is resolved, we may want to work on "over-indulgence & self-control"
One should not leave a session and join another session after having consumed adequate amounts of George Dickel. We cannot be responsible for the ill effects that result from this practice.
SAFETY FASTER!


Bill Young
Bill Young
Kansas City, MO
(1337 posts)

Registered:
10/23/2007 09:23AM

Main British Car:
'73 MG Midget V6 , '59 MGA I6 2.8 GM, 4.0 Jeep

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Re: For those who drive them: Insurance
Posted by: Bill Young
Date: July 14, 2010 03:03PM

Don't let Kelly con you Mike, it's not you but that Dickel stuff, stick with the Irish and you shouldn't have any problems.


RMO 699F
Mike Maloney
SW Ohio
(528 posts)

Registered:
12/09/2007 12:28PM

Main British Car:
1974 MGB Sebring GT, 3.9 Rover V8

authors avatar
Re: For those who drive them: Insurance
Posted by: RMO 699F
Date: July 14, 2010 06:34PM

Several great booze options and so little time...what to do! what to do!!!!!

Kelly, my haggerty policy covers all the options you mention..just want to nail down under what driving conditions..



Edited 1 time(s). Last edit at 07/14/2010 06:37PM by RMO 699F.


rficalora
Rob Ficalora
Willis, TX
(2683 posts)

Registered:
10/24/2007 02:46PM

Main British Car:
'76 MGB w/CB front, Sebring rear, early metal dash Ford 302

authors avatar
Re: For those who drive them: Insurance
Posted by: rficalora
Date: July 14, 2010 08:30PM

I called Haggerty today. Note that the coverages can be different by state. At least in Texas, they have no coverage that supports using the car to drive to work on a nice sunny day or running an errand not related to the car itself.

I did find 3 companies that do have basically what I was after (at least for TX policies). I used $25k as the value & 250/500 for liability on all of them.

American Collectors -- Have a program level they call "Freedom" level that allows for 7500 miles and flexible use essentially unrestricted non-track/timed event use. I am awaiting a copy of the policy language to verify. $1000 deductable. Quote was $499/yr.

Classic Auto Insurance -- 6000 mile limit and a similar rider to above called their "9 to 5 Endorsement" -- but a little more restrictive. Language in the endorsement is an extension of the regular policy's "occasional pleasure use" definition [which does not allow for driving it to work or on an errand ever]. It reads "...that driving to or from work on a "restricted basis" is an acceptable form of "occasional pleasure use" & it later defines "restricted basis" as "commuting to or from work no more than two days per week". Not sure if this one allows for errand use. $0 deductable. Qoute was $460/yr.

Continental Western Insurance -- I didn't see any mileage restriction which would come in handy for the British V8 meets :). Noted in the quote "These rates include "Special Use" which allows you to occasionally drive the car to work in the warm weather season. Occasionally is defined as not more than twice weekly." Down side is they're lesser known so I'd want to research to see what their "profile" is if a claim is ever needed. $1000 deductable. Quote was $504/yr ($500 deductable would bring it to $560/yr if I recall).

Also got a referal for a local Start Farm agent from a buddy who used to be on State Farm's storm team; will call them tomorrow.



Edited 1 time(s). Last edit at 07/14/2010 08:34PM by rficalora.
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