Insurance

[pezzonovante88]

Hi, what auto insurance providers does everyone use? I'm only 23 y/o and am several years off from qualifying for Classic Car Insurance (Hagerty, Kant, etc). Anyone have any suggestions?

[jawn101]

There is a very lengthy thread on this already. Look for it, I doubt you'll get any answers here before the thread gets closed.

[Cory W]

I put mine on my normal policy, because I want to DRIVE the car. I'm not going to limit my driving to show-related endeavours, on weekends, for only a couple thousand miles a year. (I'm with Royal Sun Alliance.)

The other DeLorean up here is with Co-Operators, same deal. I also know a third owner who's with them as well.

So, at least you have two companies who know what one is, and has been known to insure them.

You didn't ask rates, which is appreciated, because no two situations are the same. But think about how's your insurance premiums are now. Do you have other transportation for the off season and in case of breakdown? Hooray for multi-veicle discount!

You'll want an appraisal by an "accrdited" Ontario appraiser, whoever you're with. Ask your broker or agent who those are for your specific company.

EDIT: Jawn, they're asking Ontario-specific information, about companies licensed to operate in Ontario Canada, that the Ontario owners use :) It's not like all the other threads, and should be safe.

[pezzonovante88]

I put mine on my normal policy, because I want to DRIVE the car. I'm not going to limit my driving to show-related endeavours, on weekends, for only a couple thousand miles a year. (I'm with Royal Sun Alliance.)

The other DeLorean up here is with Co-Operators, same deal. I also know a third owner who's with them as well.

So, at least you have two companies who know what one is, and has been known to insure them.

You didn't ask rates, which is appreciated, because no two situations are the same. But think about how's your insurance premiums are now. Do you have other transportation for the off season and in case of breakdown? Hooray for multi-veicle discount!

You'll want an appraisal by an "accrdited" Ontario appraiser, whoever you're with. Ask your broker or agent who those are for your specific company.

EDIT: Jawn, they're asking Ontario-specific information, about companies licensed to operate in Ontario Canada, that the Ontario owners use :) It's not like all the other threads, and should be safe.

Thanks very much. I may be forced to put it on a standard plan. I'm currently with BelAir Direct for my two vehicles, but they refuse to insure any car older than 20 years. Anyway, I hope the rates won't be too much!

[jawn101]

EDIT: Jawn, they're asking Ontario-specific information, about companies licensed to operate in Ontario Canada, that the Ontario owners use :) It's not like all the other threads, and should be safe.

Damn! I didn't see that (was browsing via Tapatalk) :) Thanks for the clarification Cory.

FWIW, I also keep my D as a third car on my standard auto policy. It doesn't let me have an agreed value clause, but allows me to actually drive and enjoy the car. And they didn't have any problem giving me full coverage, even comprehensive/glass coverage.

[Jhonleend]

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[pezzonovante88]

I contacted Co-Operators Insurance and they will insure a DMC under an 'antique' policy for well under $600 per annum OR under a normal policy for a reasonable price also. The catch is that they will only provide coverage if I switch my current provider (Bel Air Direct) for my daily driver, which is fine, but hey want to charge more than double what I currently pay. Either way, I will be paying under $300/month for both cars.

[stevedmc]

I contacted Co-Operators Insurance and they will insure a DMC under an 'antique' policy for well under $600 per annum OR under a normal policy for a reasonable price also. The catch is that they will only provide coverage if I switch my current provider (Bel Air Direct) for my daily driver, which is fine, but hey want to charge more than double what I currently pay. Either way, I will be paying under $300/month for both cars.

In situations like this it might be in your best interest to find a clunker that barely runs for a few hundred dollars, tell Co-Operators Insurance the clunker is your other car, and insure it with whatever the state minimum is, and just leave it parked in your driveway. Doing this will let you continue to pay a decent price with whoever currently insures your daily driver, and you will be able to get the decent rate with Co-Operators on your Delorean.

[pezzonovante88]

In situations like this it might be in your best interest to find a clunker that barely runs for a few hundred dollars, tell Co-Operators Insurance the clunker is your other car, and insure it with whatever the state minimum is, and just leave it parked in your driveway. Doing this will let you continue to pay a decent price with whoever currently insures your daily driver, and you will be able to get the decent rate with Co-Operators on your Delorean.

Not a bad idea at all. Trouble is I don't really have any more space for another car. But really, $285/month for two cars is not bad, so I may just suck it up. We'll see.

[stevedmc]

Not a bad idea at all. Trouble is I don't really have any more space for another car.

Who said you have to park the car at your house? Drop the thing off somewhere and just leave it. If it gets stolen, who cares?

All you need is to buy something that has vin tags and get the title/registration in your name. The thing doesn't even have to run.

[Ron]

Who said you have to park the car at your house? Drop the thing off somewhere and just leave it. If it gets stolen, who cares?

All you need is to buy something that has vin tags and get the title/registration in your name. The thing doesn't even have to run.
...and after a month or two, call it in and report it as inoperable due to mechanical failure.

[Jonathan]

I'm with Lant/SilverWheel. Your rate is 100% dependant on what your appraisal is for. Meaning, for every $1,000 your car is worth, it's so many dollars per year for the insurance. It's roughly 10 dollars for every $1,000 your car is worth. If it's appraised at $30k, then it'll be about $300 per year.

And the appraisal part is what prompted me to switch to this type of classic car insurance from my regular type of daily driver insurance. I got such a hassle from the old company about them accepting the appraisal, that as soon as it was due the next year I switched. They didn't agree with the appraisal, but instead only said it was worth about 7k lower. I'm like, "then what is the point of getting one of these licensed appraisal guys to give me the report?" if you're going to make your own mind up?

The idea with the appraisal, and I think it is called a 19A clause here in Canada, is that if you agree on the value ahead of time, then if it gets stolen or totalled, that's what they write the cheque to you for. Since your premiums are based on it, and I pay more if I value more for the car, I was confused and annoyed when they got difficult in accepting the value.

SilverWheel has some of the stipulations that Cory alluded to: mostly that you can't drive it to work. That's okay with me as I don't really want it parked out front the nuclear plant anyway (although I have thought there could be some pretty cool photo ops there!) Everything else I pretty much do with the car when I want to take it for a spin. My own personal comfort level with box store parking lots means I don't take it to go shopping anyway, so nothing lost there. But car shows, cruises, just going for a drive or over to someone's house, out for dinner, etc are all good to go. I think the driving to work and running errands are the main ones they prefer you don't do. And for the km limitations, I think mine is in the 10,000 km range or so (maybe more?) per year, and while I drove my car as much as I wanted to this year, I think I only put on about 3,500 km. The one catch might be your age, which I can't remember if they have a must be a licensed driver for 10 years minimum. I think they do, but since that doesn't affect me I didn't worry about it.

Any other questions, let us know!

[pezzonovante88]

I'm with Lant/SilverWheel. Your rate is 100% dependant on what your appraisal is for. Meaning, for every $1,000 your car is worth, it's so many dollars per year for the insurance. It's roughly 10 dollars for every $1,000 your car is worth. If it's appraised at $30k, then it'll be about $300 per year.

And the appraisal part is what prompted me to switch to this type of classic car insurance from my regular type of daily driver insurance. I got such a hassle from the old company about them accepting the appraisal, that as soon as it was due the next year I switched. They didn't agree with the appraisal, but instead only said it was worth about 7k lower. I'm like, "then what is the point of getting one of these licensed appraisal guys to give me the report?" if you're going to make your own mind up?

The idea with the appraisal, and I think it is called a 19A clause here in Canada, is that if you agree on the value ahead of time, then if it gets stolen or totalled, that's what they write the cheque to you for. Since your premiums are based on it, and I pay more if I value more for the car, I was confused and annoyed when they got difficult in accepting the value.

SilverWheel has some of the stipulations that Cory alluded to: mostly that you can't drive it to work. That's okay with me as I don't really want it parked out front the nuclear plant anyway (although I have thought there could be some pretty cool photo ops there!) Everything else I pretty much do with the car when I want to take it for a spin. My own personal comfort level with box store parking lots means I don't take it to go shopping anyway, so nothing lost there. But car shows, cruises, just going for a drive or over to someone's house, out for dinner, etc are all good to go. I think the driving to work and running errands are the main ones they prefer you don't do. And for the km limitations, I think mine is in the 10,000 km range or so (maybe more?) per year, and while I drove my car as much as I wanted to this year, I think I only put on about 3,500 km. The one catch might be your age, which I can't remember if they have a must be a licensed driver for 10 years minimum. I think they do, but since that doesn't affect me I didn't worry about it.

Any other questions, let us know!

Yeah, I would love to go with Silver Wheel, but they will not budge on the age stipulation. I can't do it, i've tried :(