Insurance Question - Team Camaro Tech
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post #1 of 17 (permalink) Old Dec 10th, 02, 11:08 AM Thread Starter
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Have been checking on insurance for my '67. Heard about a company called American Collectors in NJ. They offer full coverage and you can insure for the amount you want as long as the car is driven under 2500 miles per year and kept in a locked garage. Of course there are a few other conditions, but the premiums are around 150.00 per year in my case. Has anyone had any dealings with them? I only have liability and it cost me almost this much. Thanks for any help.
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post #2 of 17 (permalink) Old Dec 10th, 02, 11:17 AM
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I have Hagerty on my '69 and it's about $200 a year for 4000 or so miles of use. It's an agreeded value policy where if total replacement is needed I get the agreeded amount. There is also towing and no deductable. Dollar amount overages are the same as my driver ins. There are other usage restrictions as well.

Be careful and ask specific questions to insure you get the right coverage. I get to state the value on my daily driver policy through Mercury but that doesn't mean I will get that amount if the car is totaled...

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...Dennis
"The '69, the '96 our local club"
and the "daily driver"
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post #3 of 17 (permalink) Old Dec 10th, 02, 08:15 PM
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I have Hagertys' also and am very happy with them. A co-worker uses American Collectors for his 5 shoebox Chevys and he is very happy with them. As DjD said, make sure that you understand their criteria.
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post #4 of 17 (permalink) Old Dec 10th, 02, 08:51 PM
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I also have my car insured with the American Collectors Ins Company. My car is insured for about $22,000, full coverage, no deductible, mileage per year can't go over 2500 which is no problem at all for me and it's driven everywhere it goes, and the cost is $150 per year. I have a friend who's getting ready to insure his '70 Chevelle SS 454 there in a few days.
Good Luck, Donnie

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1969 Z28, Fathom Green, DZ302, M20, 3:73
2000 Silverado Z71, white, 5.3, ext cab, 4dr
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post #5 of 17 (permalink) Old Dec 11th, 02, 02:03 AM
DWL
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My '67 is also insured with American Collectors. The full coverage is limited to $19,000 with no deductible and a 2500 mileage per year limit. The cost is $152 per year. If interested, call customer service at 1-800-252-5233 or email Jerry Kroll at [email protected].

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Dallas
67 SS 350
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post #6 of 17 (permalink) Old Dec 11th, 02, 05:04 AM Thread Starter
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Thanks for the replies, but have any of you or anyone you know had to file a claim with either of these companies? I am wondering how well they pay off in the event of an accident or some other mishap. You hope nothing ever happens but you never know.
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post #7 of 17 (permalink) Old Dec 11th, 02, 05:38 AM
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I had Hagerty's on a Cobra replica. Car was completely assembled from a deler when I bought it (new) minus engine/trans. I finished theinstall of a small block Chevy. I questioned the dealer about the lack of safety wire on the knock-off wheels. He told me it wasn't necessary. First drive the left rear tire exited the car at about 50 mph and passed me going down the road.

Hagerty handled the claim immediately with no issues. I could pick anyone I wanted to fix it (I picked myself and repaired and re-painted the entire car). Even that was no problem and they paid me to repair my own car at a rate offered by two shops.

First time I ever got paid to work on my car!

Jody

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post #8 of 17 (permalink) Old Dec 11th, 02, 07:19 AM
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One towing and one windshield claim. I made a call and basically the check was in the mail. I didn't follow protocol with the windshield. I had the work done then notified them instead of notifying and getting the work authorized. The rep that handled my claim accepted my explanation and got the check cut!!
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post #9 of 17 (permalink) Old Dec 11th, 02, 01:24 PM
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I have Hagerty as well but no claims yet, knock on wood.
Do a search in the 'Bench' section here, type in 'insurance' and you can read all night long on insurance company info. that has been posted by collectors here.
good luck
click

------------------
69RS 350/255 LM1, Balanced, TRW forged pistons, .30 over, TH-350 auto.,
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post #10 of 17 (permalink) Old Dec 11th, 02, 06:31 PM
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The best collector car insurance company that I have found is K and K Insurance, http://www.kandkcollectorcar.com/ . They have no usage restrictions except no racing and you can't use the car for business use. Driving to work every now and then is OK. There is no mileage limit. I think that you have to have a locked garage and another vehicle that you use for a daily driver. I currently have my Camaro insured for $16,000 and my yearly premium is $190 and I'm just 24 years old. I couldn't find anyone, anywhere who could come close to that.

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69 Camaro
400 Small Block
Trick Flow Heads
Comp 282S solid cam
Performer RPM intake
750 CFM Holley
and a Muncie four speed
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post #11 of 17 (permalink) Old Dec 12th, 02, 03:50 PM
 
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Who do you guys get your cars appraised through when you get the stated value policys? I cant find anyone in my podunk town that will appraise my car for over what NADA says its worth. I know its worth more than what NADA says it is.
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post #12 of 17 (permalink) Old Dec 12th, 02, 04:28 PM
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When I got Hagerty, no appraisal needed. Just a clear photo and copy of title, copy of insurance from another company on daily driver and what I was asking it to be insured for. They agreed it was reasonable. They know the market on these cars as well as we do as owners. I raised my right hand and swore not to use my camaro for work, keep in locked garage at night when not traveling. They said no more than 2500 miles a year but never took my odometer reading, as long as its cruise type driving I dont think they care.
My state farm agent would have needed an 'appraisal' but also rates were way to high. Stick with collector type company, they are fairly lienient understanding some guys take better care of their cars than they do their homes or kids
click

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post #13 of 17 (permalink) Old Dec 12th, 02, 07:58 PM
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Well since I am getting my car painted, I have been looking into collectors insurance, but can I qualify for collectors insurance? since I will be 18 next month. I would like to get the car insured for about 15,000, but what excatly is Agreed Value. Does that mean if i get my car insured for 15k and something bad happens that they will give me 15k to replace the car?
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post #14 of 17 (permalink) Old Dec 13th, 02, 03:38 AM
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Yep Wesley,exactly right. Call one of them and ask about youthfull driver with a collector. Do a search in 'Bench' section on insurance, there have been tons of discussions on it there.
good luck
click


------------------
69RS 350/255 LM1, Balanced, TRW forged pistons, .30 over, TH-350 auto.,
Dover White,Blue Vinyl top, F&R spoilers,pdb, close ratio ps,am/fm,3.08 Posi., A/C, fold down rear seat
My RS www.brainerd.net/~knudsen/69RS
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post #15 of 17 (permalink) Old Dec 13th, 02, 04:54 AM
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Here's a good write up on the 3 types of coverage...
http://www.edmunds.com/advice/fiw/ar...7/article.html
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