I am finally getting around to putting my 1972 Z600 coupe on the road. I was wondering which classic car insurance company would be most recommended? I am not planning to use the car as a daily driver. I have a copy of Hemmings Motor News, but would like to hear from other group members as to which company supplies the better services. Thanx and I await your responses.
Dave Kohn
Long Island,NY
Classic Car Insurance
Re: Classic Car Insurance
I'm using J.C. Taylor insurance, a whopping $57 a year (valuation $4,000). Yes, restrictions do apply. You can only use the car for hobby purposes, and it must be stored in a garage.
I originally tried American collectors Insurance, but they declined to insure (they thought the car wasn't worth $4k, but that was a few years ago).
Bruce D.
Santa Clara, CA From:
Dave To:
2cylinderhondas@yahoogroups.com Sent:
Friday, March 6, 2009 5:47:17 PM Subject:
[2cylinderhondas] Classic Car Insurance
I am finally getting around to putting my 1972 Z600 coupe on the road. I was wondering which classic car insurance company would be most recommended? I am not planning to use the car as a daily driver. I have a copy of Hemmings Motor News, but would like to hear from other group members as to which company supplies the better services. Thanx and I await your responses.
Dave Kohn
Long Island,NY
I originally tried American collectors Insurance, but they declined to insure (they thought the car wasn't worth $4k, but that was a few years ago).
Bruce D.
Santa Clara, CA From:
Dave To:
2cylinderhondas@yahoogroups.com Sent:
Friday, March 6, 2009 5:47:17 PM Subject:
[2cylinderhondas] Classic Car Insurance
I am finally getting around to putting my 1972 Z600 coupe on the road. I was wondering which classic car insurance company would be most recommended? I am not planning to use the car as a daily driver. I have a copy of Hemmings Motor News, but would like to hear from other group members as to which company supplies the better services. Thanx and I await your responses.
Dave Kohn
Long Island,NY
-
jeremy grosvenor
- Posts: 17
- Joined: Thu Apr 05, 2007 12:32 pm
Re: Classic Car Insurance
Hagerty is what I use $125 a year. Car cant be used to drive to work and must be stored in garage.
--- On
Fri, 3/6/09, Bruce Dewing
wrote:
> From: Bruce Dewing
> Subject: Re: [2cylinderhondas] Classic Car Insurance
> To: 2cylinderhondas@yahoogroups.com
> Date: Friday, March 6, 2009, 3:58 PM
> I'm using J.C. Taylor insurance, a whopping $57 a year (valuation $4,000). Yes, restrictions do apply. You can only use the car for hobby purposes, and it must be stored in a garage.
> I originally tried American collectors Insurance, but they declined to insure (they thought the car wasn't worth $4k, but that was a few years ago).
> Bruce D.
> Santa Clara, CA
> From:
> Dave
> To:
> 2cylinderhondas@ yahoogroups. com
> Sent:
> Friday, March 6, 2009 5:47:17 PM
> Subject:
> [2cylinderhondas] Classic Car Insurance
> I am finally getting around to putting my 1972 Z600 coupe on the road. I was wondering which classic car insurance company would be most recommended? I am not planning to use the car as a daily driver. I have a copy of Hemmings Motor News, but would like to hear from other group members as to which company supplies the better services. Thanx and I await your responses.
> Dave Kohn
> Long Island,NY
Re: Classic Car Insurance
Dave,
I use Hagerty. It has the restrictions already described here (3k miles/year "to shows, parades and "occasional" recreational driving", must be garaged, etc). I have never made a claim to them so I cannot speak to that. Like other collector car insurance it's "agreed value" insurance, so if a meteor or an SUV falls on it you will be paid the agreed value.
http://www.hagerty.com/auto/vehicle_index.aspx
How much is your car worth? I happen to have previously saved these URLs... It looks like values have gone up about 30% in recent years.
71 coupe http://www.nadaguides.com/default.aspx? ... 7876&da=-1
72 coupe http://www.nadaguides.com/default.aspx? ... 7876&da=-1
70 sedan http://www.nadaguides.com/default.aspx? ... 7876&da=-1
71 sedan http://www.nadaguides.com/default.aspx? ... 7876&da=-1
72 sedan http://www.nadaguides.com/default.aspx? ... 7876&da=-1
Steve
I use Hagerty. It has the restrictions already described here (3k miles/year "to shows, parades and "occasional" recreational driving", must be garaged, etc). I have never made a claim to them so I cannot speak to that. Like other collector car insurance it's "agreed value" insurance, so if a meteor or an SUV falls on it you will be paid the agreed value.
http://www.hagerty.com/auto/vehicle_index.aspx
How much is your car worth? I happen to have previously saved these URLs... It looks like values have gone up about 30% in recent years.
71 coupe http://www.nadaguides.com/default.aspx? ... 7876&da=-1
72 coupe http://www.nadaguides.com/default.aspx? ... 7876&da=-1
70 sedan http://www.nadaguides.com/default.aspx? ... 7876&da=-1
71 sedan http://www.nadaguides.com/default.aspx? ... 7876&da=-1
72 sedan http://www.nadaguides.com/default.aspx? ... 7876&da=-1
Steve
> ----- Original Message -----
> From:
> Dave
> To:
> 2cylinderhondas@yahoogroups.com
> Sent:
> Friday, March 06, 2009 8:47
> PM
> Subject:
> [2cylinderhondas] Classic Car
> Insurance
> I am finally getting around to putting my 1972 Z600 coupe on the road. I > was wondering which classic car insurance company would be most recommended? I > am not planning to use the car as a daily driver. I have a copy of Hemmings > Motor News, but would like to hear from other group members as to which > company supplies the better services. Thanx and I await your > responses.
> Dave Kohn
> Long Island,NY
Re: Classic Car Insurance
I use State Farm Insurance. I have multicar discounts and have been with them for 31 years. They already made their money off me ! I have my Honda s500 insured with them, I insured it when I trailered it down from Seattle in case it was vandalized or there was a trailer accident. When I got it here and it's not running yet I just have Comp. on it. I think it's about $60.00 per 6 months.
I have insured other vehicles with them on Classic insurance like my 1957 Zundapp scooter. The restrictions are less than with Taylor etc. I have my regular 600 coupe insured there with minimal requirements and towing and my premiums are only $120 per 6 months for Liability & towing.
Miles in California
I have insured other vehicles with them on Classic insurance like my 1957 Zundapp scooter. The restrictions are less than with Taylor etc. I have my regular 600 coupe insured there with minimal requirements and towing and my premiums are only $120 per 6 months for Liability & towing.
Miles in California
--- In
2cylinderhondas@yahoogroups.com
, Steven Michelsen wrote:
> Dave,
> I use Hagerty. It has the restrictions already described here (3k miles/year "to shows, parades and "occasional" recreational driving", must be garaged, etc). I have never made a claim to them so I cannot speak to that. Like other collector car insurance it's "agreed value" insurance, so if a meteor or an SUV falls on it you will be paid the agreed value.
http://www.hagerty.com/auto/vehicle_index.aspx
> How much is your car worth? I happen to have previously saved these URLs... It looks like values have gone up about 30% in recent years.
> 71 coupe
http://www.nadaguides.com/default.aspx? ... 7876&da=-1
> 72 coupe
http://www.nadaguides.com/default.aspx? ... 7876&da=-1
> 70 sedan
http://www.nadaguides.com/default.aspx? ... 7876&da=-1
> 71 sedan
http://www.nadaguides.com/default.aspx? ... 7876&da=-1
> 72 sedan
http://www.nadaguides.com/default.aspx? ... 7876&da=-1
> Steve
> ----- Original Message -----
> From: Dave
> To:
2cylinderhondas@yahoogroups.com
> Sent: Friday, March 06, 2009 8:47 PM
> Subject: [2cylinderhondas] Classic Car Insurance
> I am finally getting around to putting my 1972 Z600 coupe on the road. I was wondering which classic car insurance company would be most recommended? I am not planning to use the car as a daily driver. I have a copy of Hemmings Motor News, but would like to hear from other group members as to which company supplies the better services. Thanx and I await your responses.
> Dave Kohn
> Long Island,NY
-
mmmregello
- Posts: 3
- Joined: Sat Mar 07, 2009 2:07 am
Re: Classic Car Insurance
Sorry I forgot to include that it's through AAA ($167, 1000mi limit for a 1966 Mustang Fastback)...
Re: Classic Car Insurance ***** PLEASE READ****
Hi,
I own a '72 N600 but its not running now. I am a claims adjuster and I specialize currently in total losses. I see classic cars on occasion and usually they are not insured correctly. I would suggest two options for you, but every company offers slight variances on coverage, so MAKE SURE your agent is familiar with the policies and which one would best fit your situation.
Option 1:
Classic car insurance is a good option if it is driven usually only for shows, there are typically a number of restrictions like the vehicle has to be trailered to shows, garaged, restricted mileage, etc. This would not be a good option if you plan to enjoy driving your car occasionally and would not be an option as a daily driver.
Option 2:
"Stated Value" policy. This is a policy that you can purchase for a daily driver or occasional use. You essentially set the value of the vehicle. Most agents would need to inspect the vehicle and most cases and actual appraisal must be done. This is a good thing to protect your investment in case the car is involved in an accident, stolen, tree falls on it, etc. It may cost you some extra money up front for the appraisal $300-$450, but if something happens to your car, it will be money WELL spent.
In my experience in the past 5 years as a total loss adjuster, if you don't go through these steps, and possibly some expense, the insurance company will only pay "market value" which would be very hard to determine on an older car that is very unusual and you will likely not be happy with the value.
Please take my advice on this, I've seen too many people frustrated because their vehicles were not properly covered. Good luck and please feel free to ask me any questions.
Tim
I own a '72 N600 but its not running now. I am a claims adjuster and I specialize currently in total losses. I see classic cars on occasion and usually they are not insured correctly. I would suggest two options for you, but every company offers slight variances on coverage, so MAKE SURE your agent is familiar with the policies and which one would best fit your situation.
Option 1:
Classic car insurance is a good option if it is driven usually only for shows, there are typically a number of restrictions like the vehicle has to be trailered to shows, garaged, restricted mileage, etc. This would not be a good option if you plan to enjoy driving your car occasionally and would not be an option as a daily driver.
Option 2:
"Stated Value" policy. This is a policy that you can purchase for a daily driver or occasional use. You essentially set the value of the vehicle. Most agents would need to inspect the vehicle and most cases and actual appraisal must be done. This is a good thing to protect your investment in case the car is involved in an accident, stolen, tree falls on it, etc. It may cost you some extra money up front for the appraisal $300-$450, but if something happens to your car, it will be money WELL spent.
In my experience in the past 5 years as a total loss adjuster, if you don't go through these steps, and possibly some expense, the insurance company will only pay "market value" which would be very hard to determine on an older car that is very unusual and you will likely not be happy with the value.
Please take my advice on this, I've seen too many people frustrated because their vehicles were not properly covered. Good luck and please feel free to ask me any questions.
Tim
--- In
2cylinderhondas@yahoogroups.com
, "Dave" wrote:
> I am finally getting around to putting my 1972 Z600 coupe on the road. I was wondering which classic car insurance company would be most recommended? I am not planning to use the car as a daily driver. I have a copy of Hemmings Motor News, but would like to hear from other group members as to which company supplies the better services. Thanx and I await your responses.
> Dave Kohn
> Long Island,NY
Re: Classic Car Insurance
I also use State Farm;
But, you will need an appraisal, and this is where the cost comes in. Because the appraisal is only as good as the appraiser and the appraisal needs to be very specific. No number of awards from the local car show will give value to your car. It counts as a reference point each year you have your Honda 600 insured but you too must revalue your vehicle every so often. Insurance companies use terms such as agreed value and appraised value to lock in a value on your car if it is stolen or damaged. State Farm has both, and, as Miles said with discounts for good driver and multi car or policy programs it can save you a bunch of cash. Appraised value can offer some really great adjustments if there is damage to your vehicle. State Farm will have an appraiser re-appraise your vehicle if you challenge their initial offer, and never allow the insurance company to total your vehicle with out a fight or you may end up with a salvage title or no car at all. The insurance company can total your car if it comes within 60% of it's listed value.
Appraised vehicles side step this by placing a set amount for your car when it is insured and removes the low blue book offer. And, if you have done extensive restoration since the last time it was appraised and the 6 month period has not lapsed yet then the value of your car has increased substancally. However, just because your appraisal says 10K if the insurance company can find another car in your area that is 5K then they will offer you 5K. So, keeping in a group, or knowing other owners in your area and keeping track of what the cars are selling for helps. Because you can counter with a recent sale or even take a look at the car the insurance company is saying they found for 5K to see if it resembles the condition of your car. Remember, you know more about your car than they do.
But, if your car is a daily driver then you need to insure it like other cars you have.
As to how much to start with:
Current pricing in N.A.D.A. says a condition High (#2 In Old Cars Price Guide) Honda 600 Coupe or Sedan is in the 10K range and this is not a total or show quality 100 point restoration but close. Condition Average is not perfect, and is described as a 20 footer meaning it is presentable, runs and drives is completely operable with every thing presentable valued in the 4K range.
Low condition is not a parts car and could be considered like a daily driver but is not used as such. With a value in the 2K range. But even to be listed by N.A.D.A Classic, collectible, exotic and muscle car appraisal guide it must be used and displayed as a collector vehicle. It also has to run, drive and stop.
Bill
But, you will need an appraisal, and this is where the cost comes in. Because the appraisal is only as good as the appraiser and the appraisal needs to be very specific. No number of awards from the local car show will give value to your car. It counts as a reference point each year you have your Honda 600 insured but you too must revalue your vehicle every so often. Insurance companies use terms such as agreed value and appraised value to lock in a value on your car if it is stolen or damaged. State Farm has both, and, as Miles said with discounts for good driver and multi car or policy programs it can save you a bunch of cash. Appraised value can offer some really great adjustments if there is damage to your vehicle. State Farm will have an appraiser re-appraise your vehicle if you challenge their initial offer, and never allow the insurance company to total your vehicle with out a fight or you may end up with a salvage title or no car at all. The insurance company can total your car if it comes within 60% of it's listed value.
Appraised vehicles side step this by placing a set amount for your car when it is insured and removes the low blue book offer. And, if you have done extensive restoration since the last time it was appraised and the 6 month period has not lapsed yet then the value of your car has increased substancally. However, just because your appraisal says 10K if the insurance company can find another car in your area that is 5K then they will offer you 5K. So, keeping in a group, or knowing other owners in your area and keeping track of what the cars are selling for helps. Because you can counter with a recent sale or even take a look at the car the insurance company is saying they found for 5K to see if it resembles the condition of your car. Remember, you know more about your car than they do.
But, if your car is a daily driver then you need to insure it like other cars you have.
As to how much to start with:
Current pricing in N.A.D.A. says a condition High (#2 In Old Cars Price Guide) Honda 600 Coupe or Sedan is in the 10K range and this is not a total or show quality 100 point restoration but close. Condition Average is not perfect, and is described as a 20 footer meaning it is presentable, runs and drives is completely operable with every thing presentable valued in the 4K range.
Low condition is not a parts car and could be considered like a daily driver but is not used as such. With a value in the 2K range. But even to be listed by N.A.D.A Classic, collectible, exotic and muscle car appraisal guide it must be used and displayed as a collector vehicle. It also has to run, drive and stop.
Bill
> -----Original Message-----
> From:
> 2cylinderhondas@yahoogroups.com [mailto:2cylinderhondas@yahoogroups.com] > On > Behalf Of > Miles > Sent:
> Saturday, March 07, 2009 10:05
> AM
> To:
> 2cylinderhondas@yahoogroups.com
> Subject:
> [2cylinderhondas] Re: Classic Car Insurance
> I use State Farm Insurance. I have multicar discounts and have been with > them for 31 years. They already made their money off me ! I have my Honda s500 > insured with them, I insured it when I trailered it down from Seattle in case > it was vandalized or there was a trailer accident. When I got it here and it's > not running yet I just have Comp. on it. I think it's about $60.00 per 6 > months.
> I have insured other vehicles with them on Classic insurance > like my 1957 Zundapp scooter. The restrictions are less than with Taylor etc.
> I have my regular 600 coupe insured there with minimal requirements and towing > and my premiums are only $120 per 6 months for Liability & towing.
> Miles in California
> --- In
> 2cylinderhondas@ yahoogroups. com
> ,
> Steven Michelsen wrote:
> > Dave,
> > I use Hagerty. It has the restrictions already described here (3k > miles/year "to shows, parades and "occasional" recreational driving", must be > garaged, etc). I have never made a claim to them so I cannot speak to that.
> Like other collector car insurance it's "agreed value" insurance, so if a > meteor or an SUV falls on it you will be paid the agreed value.
> http://www.hagerty. com/auto/ vehicle_index. aspx
> > How much is your car worth? I happen to have previously saved these > URLs... It looks like values have gone up about 30% in recent years.
> > 71 coupe
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1971&m=1195& d=3169&c= 14&vi=73296& z=07876&da= -1
> > 72 coupe
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1972&m=1195& d=3169&c= 14&vi=73298& z=07876&da= -1
> > 70 sedan
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1970&m=1195& d=3169&c= 14&vi=73292& z=07876&da= -1
> > 71 sedan
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1971&m=1195& d=3169&c= 14&vi=73297& z=07876&da= -1
> > 72 sedan
> http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1972&m=1195& d=3169&c= 14&vi=73299& z=07876&da= -1
> > Steve
> > ----- Original Message -----
> > From:
> Dave
> > To:
> 2cylinderhondas@ yahoogroups. com
> > Sent: Friday, March 06, 2009 8:47 PM
> > Subject:
> [2cylinderhondas] Classic Car Insurance
> > I am finally
> getting around to putting my 1972 Z600 coupe on the road. I was wondering > which classic car insurance company would be most recommended? I am not > planning to use the car as a daily driver. I have a copy of Hemmings Motor > News, but would like to hear from other group members as to which company > supplies the better services. Thanx and I await your responses.
> > Dave
> Kohn
> > Long Island,NY
-
bottom cop
- Posts: 65
- Joined: Mon May 21, 2007 8:39 pm
Re: Classic Car Insurance
I also use State Farm. I run historical tags so it may not be used as a daily driver. They do send me a letter occasionally where I must report how many miles is on the ODO.
--- On
Sun, 3/8/09, billmyong@...
wrote:
> From: billmyong@...
> Subject: RE: [2cylinderhondas] Re: Classic Car Insurance
> To: "Anzhonda600owners" , 2cylinderhondas@yahoogroups.com > Date: Sunday, March 8, 2009, 8:10 AM
> I also use State Farm;
> But, you will need an appraisal, and this is where the cost comes in. Because the appraisal is only as good as the appraiser and the appraisal needs to be very specific. No number of awards from the local car show will give value to your car. It counts as a reference point each year you have your Honda 600 insured but you too must revalue your vehicle every so often. Insurance companies use terms such as agreed value and appraised value to lock in a value on your car if it is stolen or damaged. State Farm has both, and, as Miles said with discounts for good driver and multi car or policy programs it can save you a bunch of cash. Appraised value can offer some really great adjustments if there is damage to your vehicle. State Farm will have an appraiser re-appraise your vehicle if you challenge their > initial offer, and never allow the insurance company to total your vehicle with out a fight or you may end up with a salvage title or no car at all. The insurance company can total your car if it comes within 60% of it's listed value. Appraised vehicles side step this by placing a set amount for your car when it is insured and removes the low blue book offer. And, if you have done extensive restoration since the last time it was appraised and the 6 month period has not lapsed yet then the value of your car has increased substancally. However, just because your appraisal says 10K if the insurance company can find another car in your area that is 5K then they will offer you 5K. So, keeping in a group, or knowing other owners in your area and keeping track of what the cars are selling for helps. Because you can counter with a recent sale or even take a look at the car the insurance company is saying > they found for 5K to see if it resembles the condition of your car. Remember, you know more about your car than they do.
> But, if your car is a daily driver then you need to insure it like other cars you have.
> As to how much to start with:
> Current pricing in N.A.D.A. says a condition High (#2 In Old Cars Price Guide) Honda 600 Coupe or Sedan is in the 10K range and this is not a total or show quality 100 point restoration but close. Condition Average is not perfect, and is described as a 20 footer meaning it is presentable, runs and drives is completely operable with every thing presentable valued in the 4K range. Low condition is not a parts car and could be considered like a daily driver but is not used as such. With a value in the 2K range. But even to be listed by N.A.D.A Classic, collectible, exotic and muscle car appraisal guide it must be used and displayed as a collector vehicle. It also has to run, drive and stop.
> Bill
> > -----Original Message-----
> > From:
> > 2cylinderhondas@yahoogroups.com [mailto:2cylinderhondas@yahoogroups.com] > > On Behalf Of > > Miles > > Sent:
> > Saturday, March 07, 2009 10:05 AM
> > To:
> > 2cylinderhondas@yahoogroups.com
> > Subject:
> > [2cylinderhondas] Re: Classic Car Insurance
> > I use State Farm Insurance. I have multicar discounts and have been with them for 31 years. They already made their money off me ! I have my Honda s500 insured with them, I insured it when I trailered it down from Seattle in case it was vandalized or there was a trailer accident. When I got it here and it's not running yet I just have Comp. on it. I think it's about $60.00 per 6 months.
> > I have insured other vehicles with them on Classic insurance like my 1957 Zundapp scooter. The restrictions are less than with Taylor etc. I have my regular 600 coupe insured there with minimal requirements and towing and my premiums are only $120 per 6 months for Liability & towing.
> > Miles in California
> > --- In
> > 2cylinderhondas@ yahoogroups. com
> > , Steven Michelsen
> > wrote:
> > > Dave,
> > > I use Hagerty. It has the restrictions already described here (3k miles/year "to shows, parades and "occasional" recreational driving", must be garaged, etc). I have never made a claim to them so I cannot speak to that. Like other collector car insurance it's "agreed value" insurance, so if a meteor or an SUV falls on it you will be paid the agreed value.
> > http://www.hagerty. com/auto/ vehicle_index. aspx
> > > How much is your car worth? I happen to have previously saved these URLs... It looks like values have gone up about 30% in recent years.
> > > 71 coupe
> > http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1971&m=1195& d=3169&c= 14&vi=73296& z=07876&da= -1
> > > 72 coupe
> > http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1972&m=1195& d=3169&c= 14&vi=73298& z=07876&da= -1
> > > 70 sedan
> > http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& > > w=22&p=1& f=5014&y= 1970&m=1195& d=3169&c= 14&vi=73292& z=07876&da= -1
> > > 71 sedan
> > http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1971&m=1195& d=3169&c= 14&vi=73297& z=07876&da= -1
> > > 72 sedan
> > http://www.nadaguid es.com/default. aspx?LI=1- 22-1-5013- 0-0-0&l=1& w=22&p=1& f=5014&y= 1972&m=1195& d=3169&c= 14&vi=73299& z=07876&da= > > -1
> > > Steve
> > > ----- Original Message -----
> > > From: Dave
> > > To:
> > 2cylinderhondas@ yahoogroups. com
> > > Sent: Friday, March 06, 2009 8:47 PM
> > > Subject: [2cylinderhondas] Classic Car Insurance
> > > I am finally getting around to putting my 1972 Z600 coupe on the road. I was wondering which classic car insurance company would be most recommended? I am not planning to use the car as a daily driver. I have a copy of Hemmings Motor News, but would like to hear from other group members as to which company supplies the better services. Thanx and I await your responses.
> > > Dave Kohn
> > > Long Island,NY