I am looking at a few new options for car insurance for my Esprit, MR2 and Type R. At the moment they are all on the road and insured, but very soon I want to turn in the plates for them all and take them off the road for an indefinate period of time (for a # of reasons I don’t care to get into at the moment). I would however like to keep them insured in my garage with just comprehensive coverage, in the event of something awful happening, like my garage going up in flames, theft, etc.
So I called Hagerty just now, and they quoted me $820 per year, JUST for comp. for all 3. Now, to me, that seems like wayyy too much. I mean, the cars won’t even be on the road/registered. I am paying barely more than that right now with them ON the road with State Farm/Geico.
Does this quote seem in line with what you all would think is reasonable? Keep in mind, I have them quoted for agreed on values. It seems like it’s better to just keep them on the road as they are now for only a few more dollars a month. Or are there other options out there as far as these types of companies go? FYI, I’m 27, have a great driving record, and am married…I should get a good rate…
Any reasonable thoughts/insight would be appreciated…
What I’m asking is in the thread title…specialty…I already know what my rates are with Geico/SF…I just thought with these specialty companies, and just comp. and not even on the road, I could get more competitive quotes…
If the cars stay in your garage your Home Owners will cover any damage if the garage catches fire, roof collapses, dumbass drops it off the lift…ok not the last one. But, you don’t need to have comp to just park them.
Comp will do nothing unless you drive the car and hit someone…it will not cover collision.
Save your $$$…take the cars off the road and cancel the insurance.
EDIT: While I did find out I am completely wrong I think it is total BULLSHIT. So if a Tree branch crashes through your garage and demolish your $20,000 car and $20 drill. Homo-insurance will only replace your drill.
I was just saying that you should check Geico/SF because from my experience, they would give you a better rate on specialty insurance or on just comp than Hagerty would, believe it or not.
Luke, I’m quite sure homeowners ins. does NOT cover vehicles in your garage…I inquired on this before with SF…they’d pay for the dwelling, not the cars inside…
^ I did…I was wrong. NO offense taken. If I am wrong I would rather be proven wrong than be a dick about it and argue my point and threaten to punch everyone that disagreed with me in the face…
Yeah…you’re right.
But, anything over 15 years you could get classic insurance. Call American Collectors Insurance 1-800-360-2277.
3 rules:
Kept Garaged
No more than 6,000 Miles a Year
No one can drive it with less than 10 Years experience. (I don’t know if you are old enough…LOL)
Hagerty insures you to agreed upon values, I’m assuming your current insurance does not. What is your current insurance going to give you on a totaled 10 year hold honda, etc.
I’m interested in this as well, my Corvette should qualify next year.
I have state farm now… and this year for my mustang, they did a “withdrawn from use” on it.
It keeps it insured, plates, comp etc. My agent said I could drive it if I wanted to and just to call them so they can note it in their system. Made the premium about $80 instead of full rate
I had Grundy for my Ur. It was DIRT cheap, like $92 a year, unlimited miles, etc. I could drive the car anywhere but it could not be my “everyday” car, or be used if my everyday car took a shit on me.
Progressive dropped my rate down almost 50% when i switched over… They’re really aggressive with pricing. Give them a call and see what they will do to help you out.
I use Grundys on my VW, its cheap, like 140 per year. Your agreed values are probably super high, I know what my friends pay on their expensive cars through Grundys and its much less than $802 per year as driver.
Yah so he’d have to compare apples to apples. I think I pay about $1500 per year for my wife’s GMC (~$25K+) comp on my vette and my TA at $20K agreed value full coverage in Houston.
I dont know about SF but Geico doesnt offer any sort of collectors insurance, they farm it out to another company.
I found this out when my neighbor had shingles blow off of his house in a wind storm, right into the side of my truck. Had to pay a $500 deductable because he was a cheap ass and didnt do his roof right. Its def better to do a complete tear off btw… I think that was actually thru my collision insurance too btw, not comp.
