Insurance Advice

Discussion in 'General IH Tech' started by 77GlacierBlue, Aug 13, 2019.


  1. 77GlacierBlue

    77GlacierBlue Farmall Cub

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    I'm curious what everyone is doing for insurance. My Scout is my daily driver but I've also got a good bit of money in it at this point. The mileage limit on classic car insurance is probably not going to work for me. But my regular auto insurance only values my Scout at like $2k. The property tax valuation is also like $200 which always makes me laugh. Does anyone have a better insurance option for a daily driver? Or do you just chalk it up to the cost of driving a classic?
     
  2. Bussy

    Bussy High Wheeler

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    I had three of mine insured with State Farm for my stated value until I found out it would not be insured if used off-road so I dropped it. Just something to keep in mind. I’ve since sold two and the third is strictly off-road but also covered under homeowners if non driving issue occurs.
     
  3. winchested

    winchested High Wheeler

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    My searching has shown vintage policies are cheap but basically it becomes a trailer queen.

    Only some vintage policies will let you tow, (only if the vehicle isn't modified)

    Putting in an aftermarket roll bar has really made it hard to find insurance (even though it's safer)...

    Where I live most insurance companies won't insure vehicles over 19 years old.

    Ugh. Insurance is shit.
     
  4. stroker3

    stroker3 Lives in an IH Dealership

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    Every state is different but we have an excise tax that must be similar to your property tax. It drops valuation very quickly. Just another govt. nickle and dime us to death thing. It's been a long time but we could put a value higher than the insurance company listed on older vehicles a few years back, for extra cost of coarse on full coverage. Unsure if that is still possible but it wouldn't hurt to see if your regular insurance will do that for you. Being a DD, I'm unsure if there's anything else when/if there's decent yearly mileage and/or distance involved.
     
  5. TorqueMonster1

    TorqueMonster1 Farmall Cub

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    ED12AA54-5559-4347-9491-A808B3B72831.jpeg Bussy, you said “the third is strictly off-road but also covered under homeowners if non driving issue occurs.”. Was this something that you worked out with your insurance company Or is it just how they do business??

    Reason I ask is my oldest son has a ‘73 Javelin that he’s been fixing up for a few years. He only has liability on it since he’s not driving it much while fixing it. He’s deployed in Iraq right now (supposed to be home next month) so he has his wife start it once a month and let it idle a little bit while they talk on the phone. In July when they did their normal routine it caught on fire. It’s a mess. Auto insurance won’t cover it because he had liability only, homeowners won’t cover it because they say cars are covered under auto insurance. He’s out of a car. His auto and homeowners is by same company.

    I’m just wondering about your situation. Sorry for high jacking your thread. Mark
     
  6. MrKenmore

    MrKenmore High Wheeler

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    I have Farm Family C.H.R.O.M.E. It's OK. Not my DD. Stated mileage limits. Must be garaged.

    Remember most insurance companies will happily take your money when the premium is due. It's if they pay out which is the real question.
     
  7. Sozzy

    Sozzy Farmall Cub

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    Most homeowners insurance will not cover any car, or car parts unless they are being used as art, etc.
    I have simple liability on my Traveler. If you have a loss, you can always insist on a third party valuation.
     
  8. scoutboy74

    scoutboy74 Lives in an IH Dealership

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    I know what I've been doing for insurance on my Scout isn't the best thing, but I don't really know what else to do. I've had it covered by Nationwide for over 15 years. Just liability as a limited usage, pleasure vehicle. I've been asked a couple different times by agents over the years if it's been modified. I lie through my friggin' teeth every time, because I know they'll refuse it if I'm honest. In Oregon, as I imagine it's the case in most states, you must have liability insurance to get registration. It's a real damned if you do, damned if you don't situation. In the UK, it seems like maybe insurance companies have a different, more reasonable approach towards older and even modified 4x4 vehicles. With as many older 4x4's as there are in this country that see mixed use, there's got to be a better solution that doesn't make you feel like a criminal or leave you wondering if you'll even be covered at all in the event of an accident.
     
  9. jmeister

    jmeister Farmall Cub

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    My 18 yo and I restored a Scout II for him to drive before we realized we would have these insurance hassels. Restoration included a 2.5 inch lift, roll bar to anchor 3 point belts front and back, and 31 tires. After searching for insurance for months I finally went to a broker that handled Cincinnati Insurance. They wrote a policy for agreed value (I had an appraisal done), daily driver for the 18 yo, liability and collision. Had to move my other insurance to them (likely a move by the agent to make money, not the ins co, but I can't say for sure, and it was very competitively priced), and I'm paying through the nose for the Scout but I felt I had to do it so he could drive it after doing all the work. He's off to college next week, so I can change it back to an occasional driver to save $, but at least Cincinnati wrote a policy for our needs.
     
  10. winchested

    winchested High Wheeler

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    Another thing I have found is that since the Vin's for scouts were not 17 digits its also very hard to get a quote.

    None of the online businesses will give you quotes due to this.

    I just got off the phone with a broker who was also having a hard time finding quotes due to this as well.
     
  11. TorqueMonster1

    TorqueMonster1 Farmall Cub

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    I just hung up with Hagerty Insurance. That’s who we use. They’re Awesome! I asked if they have mileage limits and she said no. I asked if they insure classic, antique or special interest autos that are daily drivers. She no. She said that their focus was on insuring cars that are used for pleasure. Weekend drives, car shows, parades, cruise-ins, special trips etc.. you get the picture. I asked would a car be covered if the owner wanted to drive it to work one day, to school or for errands and she said yes. SO, if you’re in a wreck, I’m wondering how they’d know if you drove it to work every day or just once a month? I don’t think that would ever come up. I’m not suggesting lying but it’d be nearly impossible for them to know.

    As far as roll bars, engine modifications, lift kits, larger wheels and tires go, she said it’s all insurable. That’s what they do, insure special interest vehicles. I would think it’d be factored into the quote but I’d be surprised if it changed the amount a lot. They’d have to take it on a case by case basis.

    AND, if you’re working on a project and it’s not insured while you’re doing the work, You’re Rolling The Dice!! Not smart. I’ve done it and got lucky But no less stupid on my part. (I believe it’d need to be in a garage, barn, carport or at least outta the weather).

    (800) 922-4050 - Hagerty Insurance

    P.S. I have NO affiliation with them or anyone there other than being a happy customer. Mark
     
  12. David Banner

    David Banner High Wheeler

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    This is partly/easily determined by what, and how many other cars you have insured: So if your ONLY insured vehicle is your Scout... but if you also have insured a 20** Honda sh!t-box then they'll believe the Honda is your DD and the Scout is "pleasure"...

    My problem with Hagerdty is that the vehicle HAS to be garaged when not in use and while my '75 Scout gains in value with each bit of rust I remove it will never rate garage space at my house -- it will always be a ¼ ton truck in my world... USAA said they'd insure it after I got it to where (value) I thought that might be prudent...
     
    Last edited: Aug 14, 2019
  13. TorqueMonster1

    TorqueMonster1 Farmall Cub

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    David, good point. I was assuming that someone would have another auto or two but would want their Scout to be their daily driver. IF it’s the only vehicle I guy owns then he’d have no explanation. Mark
     
  14. mallen

    mallen High Wheeler

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    Define paying through the nose. What is it compared to a policy with full coverage for a new car?
     
  15. jmeister

    jmeister Farmall Cub

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    I agree Hagerty is a great company. I have my classic wooden Chris Craft boat insured with them, and I almost pulled the trigger for the Scout based on similar answers/reasoning, as above. But then I realized the Scout is pretty unique and draws attention. If they happened to investigate a claim, it would be easy to find a co-worker, or in my son's case a classmate or teacher, that would spill seeing the Scout in the parking lot daily. Then you're looking at insurance fraud.
     
  16. jmeister

    jmeister Farmall Cub

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    I honestly don't remember. Didn't want the numbers committed to memory and constantly rolling around my brain. I'll look tonight.
     
  17. Greg R

    Greg R Dreams of Cub Cadets

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    State Farm has been my go to for almost 30 years. I've had classics covered by them that could rival Haggerty's for cost and leniency as to use and mileage. My Scouts all have comprehensive so that they're covered when parked and it is easy to suspend a policy for a few months and then reinstate it with a phone call. The suspending a policy means they won't bill for those months and you don't drive it.(no coverage temporarily but you're still on their books) It helps for multiple cars if you want to rotate their use and keep the yearly "fleet" insurance costs down. I've looked at replacement value and frankly 40 year old vehicles pretty much weigh in on average sales prices and condition. You may get a little more than you paid, but probably not a lot towards any expensive re-work and repair. There aren't too many industry guides for that other than condition. A classic car appraiser can help a lot towards your investment. As a 3rd party professional consultant , they go by criteria for the classic automotive world that insurance agents do acknowledge. About the only option left for higher value is going the antique or classic coverage with their use and mileage restrictions. Let's face, just about everybody uses their car for "pleasure" and no one with good dollar sense would write "commuting" or "sport". I do not know about dedicated trailered trail rigs. I haven't had to insure one of those yet.

    Another point I will emphasize is to have a local agent you can see in person. One on one business as agent/client is the only way to go for advice, resolutions, and coverage strategies. Anything that pipes you through call centers, emails, online forms and emails just sifts you through paper pushers before you may actually talk to someone who knows or has a license. Try conflict resolution on a phone call through a call center, NOT fun.
     
    Last edited: Aug 14, 2019
  18. jmeister

    jmeister Farmall Cub

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    Costs about 2x that for my 2017 F150 Lariat Crew Cab 4x4. Again, for an 18 yo daily driver.
     
  19. winchested

    winchested High Wheeler

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    You guys in the US are lucky that you can pause your policies. In ON, Canada it's 12 months or nothing. We aren't even allowed to do that on 4 wheeler ATVs or snowmobiles or boats.
     
  20. TorqueMonster1

    TorqueMonster1 Farmall Cub

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    3E07CFF1-E7BD-4E65-9B6D-B6F5B6272F26.jpeg If “suspending a policy” means there is no coverage whatsoever on the car then there’s no way I’d even consider it. What happens when the “suspending policy” car burns up in the garage, basement or building it’s in? All homeowners policies I’m familiar with won’t cover the car. Statistically you’ll probably never have a special interest car burn. Id guess it’s what, 1% of classic car owners??? Well in July my son was that 1%. As far as I understand it, I wouldn’t take the chance. Mark
     

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