Hey all, I became very concerned after talking with my AAA agent today. Although nothing has happened to my car, recent acts of robery in my neighborhood has prompted me to ask, "What compensation do I get if something were to ever happen to my Camaro." His reply was that I would receive the blue book price of a Camaro SS with xxxx miles on it. After seeing how much the Brickyards have been going for at auctions, I DO NOT feel very good about this! In addition, AAA does not offer any additional coverage for special vehicles younger than 25yrs old. Therefore, does anybody have any auto insurers that they might recommend or let me know if AAA is not giving me the right information? Your help would be greatly appreciated! FYI, I live in Michigan.
Posted by 2002Z4CSS (Member # 1393) on 12 July, 2004 11:35 AM:
Kevin, some people had good luck having Grundy insure their newer classic Camaros. Hagerty insurance will not insure this new of a car. I tried. I have not yet actually got classic car insurance for my Brickyard. State Farm just recently had to see the car since it was stored for 6 month of the year and wanted to make sure it was wrecked and rebuilt. They took pictures of it but I bet it is still valued as a normal SS.
Posted by agmSS (Member # 853) on 12 July, 2004 11:40 AM:
There are a number of companies that sell insurance to owners of "Specialty" cars. Grundies (sp?) is one that comes to mind. You can insure the car to a specified value and the rates will depend on what amount of coverage you want and your anticipated usage. If you drive the car daily, live in a high crime area, etc, the rates could be pretty high. If the car is for occasional pleasure use or for car shows, the rates are downright cheap.
The primary drawback to this type of insurance is that the specified amount on the policy is limit of the insurer's exposure. It depends on how the policy is written. This becomes particulary relevant for owners of very high dollar value collector cars like rare Ferrari's, Bugatti's, and other extremely rare cars.
Try a google or yahoo search on specialty car insurers and I'm sure you'll turn something up. Just make sure to very clearly spell out what you want and make sure it is documented in the policy.
Good luck.
Posted by CamaroSSgal (Member # 1870) on 12 July, 2004 12:40 PM:
Yet another vote for Grundy's. Both of our SS's are insured through them. Both have a guaranteed value of $25,000 each. No mileage limitations. Pay a total of $730 per year to insure them both.
Posted by 35thLEBrickyard#43 (Member # 504) on 12 July, 2004 12:53 PM:
Thanks guys. I just got off the phone with Hagerty and they agree to insure the vehicle to $55,000 (probably too much, even though #2 went for this much on Barlett Jackson) for $1335/mo! This is better than my AAA rate even when you take into account that my vehicle is stored 6mo/yr. I'll try Grundy's for a competative quote.
Posted by lrdvadr (Member # 1382) on 12 July, 2004 01:48 PM:
I am the original owner of Brickyard #2. I still own the vehicle. The one sold at auction must have been a different number.
Posted by 2002Z4CSS (Member # 1393) on 12 July, 2004 01:57 PM:
quote:Originally posted by lrdvadr: I am the original owner of Brickyard #2. I still own the vehicle. The one sold at auction must have been a different number.
Kevin meant VIN #2 which was the t-top, 6 speed Brickyard 400 but was never was officially numbered by Howard as a Brickyard 400 Festival Car.
VIN #2 Posted by Xsta Z 28 (Member # 740) on 12 July, 2004 02:06 PM:
quote:Originally posted by 2002Z4CSS: . . . some people had good luck having Grundy insure their newer classic Camaros. Hagerty insurance will not insure this new of a car. I tried. . . .
Hmmmm, exact opposite experience for me.
Grundy was rude and insulting when I tried to insure my brand new Berger . . .
I currently have ANPAC on and am a little concerned/dissappointed, since they keep changing the coverage, and have a HUGE deductable - $3,000!!!!
I have been working with Haggerty, on both my Berger and 2000 SS both with a FIXED agreed value insurance. Berger covered for $65,000 and the Convert, covered for $35,000 (probably too little but better than BB). Preliminary quote was just under $2,000 annually, no deductable on the Berger and a small deductable on the Convert.
Big name Insurance Co's Farmer's, State Farm and the like will not provide aggreed value insurance on a car until it reachers 10 years of age. (So two agents have told me)
Posted by 2002 SLP SS (Member # 1893) on 12 July, 2004 02:49 PM:
I have american hobbyist out of Florida agreed value is 38K for $596.00 Per year,no mileage limits!
Posted by CamaroSSgal (Member # 1870) on 12 July, 2004 03:40 PM:
K....now I have a question. Do you think that I should put the guaranteed value higher than $25,000? After looking at the guaranteed values that you guys have, now I'm questioning it. They are just SS's, not Berger's or anything, a 2000 and 2002...just wondering what your opinions are.
Posted by Xsta Z 28 (Member # 740) on 12 July, 2004 04:09 PM:
quote:Originally posted by CamaroSSgal: K....now I have a question. Do you think that I should put the guaranteed value higher than $25,000? After looking at the guaranteed values that you guys have, now I'm questioning it. They are just SS's, not Berger's or anything, a 2000 and 2002...just wondering what your opinions are.
I look at "How much to replace the car" when I determined the value on my 2000 SS, meaning how much to buy a used SS, and get most if not all my mods redone. And at $35,000, I think I guessed low, but that's A LOT better than blue book value . . . . Hard to put a price on something you love.
Posted by Xsta Z 28 (Member # 740) on 12 July, 2004 04:14 PM:
quote:Originally posted by 35thLEBrickyard#43: . . I just got off the phone with Hagerty and they agree to insure the vehicle to $55,000 (probably too much, even though #2 went for this much on Barlett Jackson) for $1335/mo! . . . .
Are you sure that not for a year????? Mine was quoted @ just over $1,900 a year for both cars at a value of $100,000 . . . .
Posted by 35thLEBrickyard#43 (Member # 504) on 12 July, 2004 06:25 PM:
My bad...$1335/yr
Posted by ss_rs_z (Member # 1888) on 12 July, 2004 06:31 PM:
I too have AAA and am going to get quotes from other insurance agencies including Grundy's which you can do online. Other than Grundy's and Haggerty I wouldn't know who to check into but my guess would be to see under collector car insurance.
Posted by Robbie-97SS2902 (Member # 206) on 12 July, 2004 08:49 PM:
I've called probably all of the collector car insurance companies and didn't go with any of them. Too many restrictions. Most of them don't cover the car if you take it anywhere. You can't take it to the store, work, or a friends house ever. You could only make trips to "nowhere" to upkeep it and keep it running or to car shows and back home.
Posted by Archs89 (Member # 1086) on 12 July, 2004 09:17 PM:
I have Grundy and have been very satisifed but I've never had a claim yet either which is the true test on which Insurnace provider is the best. I did not have any rude people waiting on me when I called , but I did have to send pictures of my Caamro and send in my driving record the last 5 years.
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