My agent said that an appraisal with a limited use policy would drop my rate and insure the car for more $ due to it’s rarity. They applied for Haggerty but it is not yet on their list and she applied for an exemption and Haggerty came back and said in a year or 2 it will meet there requirements.
Based on that she looked into another company, maybe Gundy, that would also review the car for a limited use/exotic policy provided I had the car appraised to come to an agreed value
FYI - Most of these limited use policies prohibit you from driving the car to work & cap yearly mileage if you didnt know this already.
It’s a 3rd car and may see 2k a year. I only drive my suv to work in case I have clients with me so it seems to be a good fit.
I am going to see how it works with the Lexus and thentry to get one for the Mustang which will be driven a bit more but never for work.
The limited use policy I had allowed unlimited miles but no daily driver activity like back and forth to work. I had to provide copies of the registrations for mine and my wife’s daily drivers as well as sign a notarized letter stating no one under 25 would drive it. A few hoops but worth it when I ended up with full coverage at my agreed value for $90 a year.
Edit: They wanted a picture of my garage to prove it was garage kept as well. Pretty sure I was with Grundy. I know I got the policy though my agent which was Alliance Insurance in Depew at the time.
My point was you would need to have someone appraise it at said value you think it worth…or else you could insure some 1990 honda civic hatch for 150,000 pay a high payment for a month then leave it in the hood with the keys in it just to collect a check for 150,000.
I think this sounds like the winner for the Lexus and Mustang
I was doing a search on “Grundy” and realized I was with someone else. I can’t remember who it was though. Too bad UBRF wasn’t still around because I know I wrote up the whole process there.
Also realized it was $70 not $90. You could probably call Alliance Insurance and ask them.
FWIW I have my car covered under full coverage + like 5k in “accessories” I.E if someone steals my wheels I get 3500 to replace them directly from Work and not 400$ to get factory wheels lol.
It would prob be better to do this not an appraisal.
I am not saying anything bad about your cars, but If I had a car like newmans that is only “worth” 2k on a good day but has many monies into it, then it makes sense.
Even if either car is totaled you could still buy back and part and make out
Just a few days ago weren’t you bragging about how you didn’t have any full coverage on your car?
Interestingly enough, in another of the OP’s threads…
http://www.nyspeed.com/showthread.php?240227-Looking-at-buying-a-used-car-Question
lol pwned
LOL. How is it bragging not having full coverage ? U mad about something , bro ?
I said on a personal loan you dont have to carry full coverage because the loan isn’t tied to the car.
Understand now ??
Because you said you don’t have full coverage in one thread…then turned around you said you had full coverage + additional coverage for mods.
So to clarify you meant to say you don’t need full coverage but you have it any ways with additional coverage? lol
“I dont have to carry full coverage” doesnt mean “I dont carry full coverage”
It’s funny you would make that horrible suggestion in one thread.
Then pop up in here talking about the extra insurance you carry.
It was a suggestion to get the car immediately not a long term solution. I also stated he could refinance after he had the car with a low Apr auto loan
Anyone who doesn’t have the highest available amount of coverage is just asking for it. Provided you have assets. Being over insured > being under insured. Hell, I have a separate policy for my watches.
^This, you pay more now, but it pays off in the end when you need it (for the most part).
I have to assume limited use = limited opportunity to have something happen to the car = lower rates.
Sounds like a no brainer provided the cars are insured for their appraised amount or modifications are covered.
Am I missing something?
No it’s pretty much insurance for people who have hobby/whatever cars that they don’t DD which should fit your cars perfectly.
Some insurance companies allow more flexibility but that has been covered
Which is exactly what I use both of them for.