Insured the wagon last week

For the last few years I have been going with my local agency that we have all of our vehicles, home owners, etc insured with. They offer a collector/classic car coverage that is great. For 6 months it's $65.00 There are restrictions of course, but all are reasonable. You send them photos of the car, vin, license plate number and a stated replacement value and you get a policy. Simple, quick and the Fury is on the road for the summer.

Well, I just got an email from our Agent. Seems the underwriter has taken issue with my car qualifying for the classic car coverage.

My car has been in the family since Grandpa bought it new. It's been a family hauler all of it's life, but has been maintained and is in remarkably good condition. The underwriter wrote to our Agent and said that since the engine compartment doesn't look like it has been restored, it must not be a "show car". He also stated that he looked at a site called "old car guys" and said that my stated value is too high (I told them $10,000 on a whim the first year and they accepted it) he said the price he found was $2200.

Now he has refused to insure the car. I can get regular coverage for $306.00 for 6 months.

To say I'm annoyed is an understatement. First of all, it is indeed a classic car. It has classic/collector plates. How does that not fit the criteria? Second, his assessment of value is dubious to say the least. I looked up the value on the NADA site. Low is around $4700, Average is around $6700 and High is $14,00!

To me the car is priceless, but I am a realistic person. I would say the car is Average+ so at the very least it should be valued at around $6500-$7000. This is not a 2000 dollar car. To say I am insulted is a strong way to word it, but it is how I feel.

$300 to insure this car for 6 months isn't feasible for me right now. We have a baby due any day and other things that are more pressing when it comes to funds. I may have to park the Fury until who knows when.

Has anyone else ran into this type of thing? I have looked into Haggarty collector car insurance, but haven't called them yet. It was just so convenient dealing with our normal Agency.

Anyway, long story, but it looks like as of Monday the car will be uninsured indefinitely.

 

thats crap....i would threaten to pull all the insurance...if it was me

 

You should be able to appeal the decision.
Find some comps, write a letter.
I could write you an appraisal, but technically, I'd have to see the wagon in person.

 

Yeah what they said. I was told when it comes time for Fannie to be on the road I should have an appraisal done. But that could cost you a few $$$ but once it's done, it's done. I would also get a few other on line sites to value your car since that seems to be his place of reference and argue the point. At the very least contact a few other ins. agencies and see what they have to say. Get them to define "classic car", you weren't trying to pass it off as a "Show Car." If the DMV(government agencies) issued plates for it as a classic/collector car, who are they to say it isn't? Eweeee I feel a little pot stirring in the air

Good Luck.

 

When it comes to a vehicle evaluation, I needed one to transfer the ownership and register the 78 Grand Marquis. The clerk at the license office sent me to a used car dealer around the corner who will do one without even looking at the car. This guy charges $40, and you walk out with the official form that the government accepts for paying sales tax. When I told him that I'd paid $1,000 for the Marques (with 18,000 miles on the clock) he said he didn't like that price, that it was too high. Basically, you tell him what you want it to say, and he obliges. Something like that could be the help you need. After all, you aren't trying to rip them off, just get proper coverage.

 

I forgot to mention. I had the opposite problem when I went to insure the 78 Thunderbird. The insurance company was reluctant to insure it as a 'normal' car. They wanted to insure it as a 'collectable', but since it is my only car, hence a daily driver, that wasn't going to work.

 

I am quite frustrated with the entire situation.
I just got another email from our Agent. She said: "This particular underwriter doesn’t feel the car currently meets the criteria of (car insurance company)'s antique classification program. Nothing I can do to change his mind on that as I tried until the engine issues he stated are complete."

So, basically I'm out of luck with my current provider. I did learn that the cost will be a little less ($263.79) if I do go with them due to the "Multi car" discount.

Still, way more than the $65 I was paying.

Going to call Haggarty when I get a chance.

 

You definitely should be working with a company that specializes in insuring collector cars and not your on-the-corner State Farm, Allstate, or whatever company whose main product is insurance of every day drivers.

A company like Hagerty or J.C. Taylor, which I use, will certainly put restrictions on your use of the car, which usually means limited number of miles per year, parked in a locked garage when not in use, drive only for parades, cruises, car shows, etc. and not for any kind of daily-driver use like going to the store, work, or any situation where the car is left unattended. If you can't follow these restrictions, then you're not really treating the car as a collector car, and it's not unreasonable for an insurance company to want to insure it as a daily driver and charge for that insurance accordingly.

The whole reason collector car insurance companies can offer these low rates is not because the cars they insure have been in one family since new or because they're old, it's because they're hardly driven and they tend to be well cared for.

I pay about $120 per year through J.C. Taylor to insure BOTH of my old cars, one of which I value at about $8,000 (the convertible) and the other at about $3,000 (the wagon).

The latest edition of the Old Cars Price Guide lists the value of a 1964 Plymouth Fury station wagon in #3 condition ("car show" condition but not showroom condition) at $5,000. In #4 condition ("runs and drives but needs complete restoration"), the value shown is $2,200. Depending on the exact condition of your car, it's value is probably somewhere between these two.

 

Good luck Mr Orthmann! Sounds like time to give another firm a whack at your insurance needs!

 

That is my next step. I have a collector car plate on it currently and the state has it's own set of qualifications that allign with the stated qualifications of most collector/classic car insurance. I may do a full restoration on the car someday, but for now it's a plesure to drive on sunday (Which is allowed) and to take to the occasional show/cruise in. I have seen and owned vehicles that have sat for many years, and know that the worst thing you can do to a car is just let it sit.

As far as value goes, I have always known that the car is not worth what a 1964 Sport Fury convertable is worth. Unless it's a Nomad or something like that the wagons are not on the same level as their coupe or drop top counterparts. To be honest, I generally am likely to disagree with anyone who puts a high value on the car. However, I know that there are less and less of these vintage cars on the road. Age does tend to add value to things. This not a fully restored car, but it is in very nice original condition. It is not a $2200 car. The Insurance underwriter's assessment of value just added insult to injury.

 

a little from downunder we had a choice of1 insurer up until a little while ago now we have 3 . i cant imagine how in your state you only have 1 choice , for what we term full regerstation(which means drive it when you want) for a left hand drive vechile i pay $28 per calander month with an agdreed value payout of $25k and i keep the wreck .not that i wish to see ole pink bits as a wreck love it to bits .there must be simple options US

 

sorry hit enter early( i am not a typist and never wish to be one otherwise i would ware a mini skirt ) Orthmann sound and would appear you have a vechile in good condition & great history for your family to enjoy . i am sure you will find an affordeble way to contuine

 

Going to give Haggarty a call, see if I can get something going with them.

 

As long as you have other cars, I'd think the classic car insurance shouldn't be a problem. Let us know what you find out.

As for the insurance company, I'd definitely be shopping around for all of it. If they are going to treat you like this over a premium, just think what kind of stellar support they would provide if you had a claim? I've heard way to many stories about folks that were loyal to their insurance company only to get screwed in the end. Or to start asking around and find out there were much better deals out there (even with their own company) but they didn't get them because they didn't ask.

Insurance companies in general bug me... I believe I should be able to insure myself for whatever car I drive, not insure all my cars. I can only drive one at a time!

 

I agree that the insurance gig as a whole is a bit annoying to me. I am not trying to profile here, but there is a large part of our local population that is migrant farm workers. Many of these folks do not have any insurance. It seems the only people who have insurance are the ones who need it to cover damage caused by those who don't. It is the world we live in, but it irritates me that we are forced to cover our vehicles, because it is the law, and there are people driving around every day who don't. Our premiums go up to cover the cost.

All of that said, I must say that I have been very pleased with our local agent and have had excellent service. A few years ago my wife was rear ended by a woman who not only did not have insurance, but also was driving on a suspended license. It wasn't the first time she has had an accident with someone who had no insurance. I instructed her to call the police and get the other drivers info if it ever happened again. In this case she called the police, got the gals information and called the insurance company. SInce our agent had the driver's name and address, they informed us they would be going after them for the cost of repair. They even cut the cost of our deductable in half. So, all in all I have been pleased. I consider it a necessary evil.

Insurance is like lawyers, you you never like them until you need one.

I am shopping around for the best deal I can find for insuring the Plymouth. I'll be sure to let you know what I find.