Can You Drive a Classic Car Everyday Insure

01-26-2012, 06:28 AM

I own an 87 Buick T type (little brother to the Grand Nat'l) that is not in the best of shape (not bad but not cherry) and I have to keep an agreed on collector car insurance on it because it's worth more than a typical Regal of the 80's yet most insurance companies don't see it due to how the vin was laid out for that year. (in 87 a basic grandpa Regal could be outfitted with the turbo engine but insurance co. still sees it as a bread and butter Regal even though it's not)

I'm losing interest in it and thinking about selling it because it just sits all winter in the garage and it seldom comes out in the summer because I can't just drive it anywhere I want to. So I drive to a car show once a month in the summer b/c they're all 40 miles from me.

I'm thinking about getting it appraised and then getting reg.car insurance to allow me to drive it where I want to any time of the year w/o worrying about the insurance co. saying "oh it's only worth $1000" if I have to file a total loss/theft claim....when a turbo Regal like mine fetches at least 6 times that much on any given day.

Thoughts?

Thanx in advance

01-26-2012, 07:10 AM

You can't have collector plates on a daily driver.

For example,
Classic Plates

These plates can be displayed on any vehicle manufactured from 1925 to 1948 that's deemed a classic car by the registrar of motor vehicles. The criteria for this designation includes superior workmanship, design, elite engineering standards, and proof the vehicle is only used as a collector's item.
Collector Plates

Any vehicle that's at least 20 model years old and manufactured after 1935 can display these plates, providing you, the owner, also have at least one other vehicle registered in Minnesota.
Street Rod Plates

You qualify for these plates if your vehicle was manufactured before 1949 or was recreated to resemble a vehicle manufactured before 1949. You must also have at least one other vehicle registered in Minnesota.

Next, get enough ins to cover the car, how much coverage do you want?
You can be on the road with liability or full coverage?

If you wish to have full coverage your Ins CO. may want you to have it appraised so they can properly cover the loss if it should get totaled in a accident.

01-26-2012, 07:29 AM

Quote:

Originally Posted by Deez Nuttz View Post

I own an 87 Buick T type (little brother to the Grand Nat'l) that is not in the best of shape (not bad but not cherry) and I have to keep an agreed on collector car insurance on it because it's worth more than a typical Regal of the 80's yet most insurance companies don't see it due to how the vin was laid out for that year. (in 87 a basic grandpa Regal could be outfitted with the turbo engine but insurance co. still sees it as a bread and butter Regal even though it's not)

I'm losing interest in it and thinking about selling it because it just sits all winter in the garage and it seldom comes out in the summer because I can't just drive it anywhere I want to. So I drive to a car show once a month in the summer b/c they're all 40 miles from me.

I'm thinking about getting it appraised and then getting reg.car insurance to allow me to drive it where I want to any time of the year w/o worrying about the insurance co. saying "oh it's only worth $1000" if I have to file a total loss/theft claim....when a turbo Regal like mine fetches at least 6 times that much on any given day.

Thoughts?

Thanx in advance

Take out an agreed value collector policy for comp and collision only. Try American Collectors in Cherry Hill NJ.
Take out a liability policy with another co. for everyday driving.
You will probably have to keep the mileage under 5,000 but who wants to drive their collector car that many miles?

I had to do that in NC because my collector co. "American Collectors" does not do liability in NC
My car was worth more to me than regular book value and luckily American Collectors had it listed as a collectable.
95 Mustang GT or Cobra but not a reg. Mustang.

01-26-2012, 10:28 AM

Quote:

Originally Posted by SpeedyAZ View Post

What Suncc said, you need to find a carrier that does an agreed value policy and they are QUITE pricey even if you're only ensuring a car for $6K. It'd probably be cheaper in the long run to just insure it as a daily driver. You should be able to research what a car like yours is worth and what an insurance company would pay if you totaled it...I'd bet it's more than a grand. I'd say probably around $3K-$4K which would make an agreed value policy useless.

The problem is insuring as a DD yet getting what it's worth if it were to become stolen, totaled, etc. It's a 25 year old car so I'm sure most insurance companies try to write it off as not being worth much, if anything at all. Also I think it depends on what you use to determine value: nadaguides shows it being worth over $10k but kbb or edmunds shows it being worth much less. In fact these cars sell higher than what kbb or edmunds lists them for.

Quote:

Originally Posted by PDD View Post

Take out an agreed value collector policy for comp and collision only. Try American Collectors in Cherry Hill NJ.
Take out a liability policy with another co. for everyday driving.
You will probably have to keep the mileage under 5,000 but who wants to drive their collector car that many miles?

So you're saying use 2 insurance co's for 1 car? Also the car would probably see 15k a year as a DD.

01-26-2012, 10:47 AM

it depends on what state Deez lives in. I know on PA, classic tags is 25 years or older and collector plates is any year.. so rules are different in all the states

Getting back to his question... Why don't you get collector insurance that allows unlimited miles like I have on my Mustang. The only issue is that frown upon taking it to work and to shopping centers.. Otherwise you can drive em anywhere, anytime

Quote:

Originally Posted by snofarmer View Post

You can't have collector plates on a daily driver.

For example,
Classic Plates

These plates can be displayed on any vehicle manufactured from 1925 to 1948 that's deemed a classic car by the registrar of motor vehicles. The criteria for this designation includes superior workmanship, design, elite engineering standards, and proof the vehicle is only used as a collector's item.
Collector Plates

Any vehicle that's at least 20 model years old and manufactured after 1935 can display these plates, providing you, the owner, also have at least one other vehicle registered in Minnesota.
Street Rod Plates

You qualify for these plates if your vehicle was manufactured before 1949 or was recreated to resemble a vehicle manufactured before 1949. You must also have at least one other vehicle registered in Minnesota.

Next, get enough ins to cover the car, how much coverage do you want?
You can be on the road with liability or full coverage?

If you wish to have full coverage your Ins CO. may want you to have it appraised so they can properly cover the loss if it should get totaled in a accident.

01-26-2012, 11:01 AM

not sure how it relates to a "collector car", but when my wife had her previous 'tuner' car we not only had full coverage but added a rider to cover the value of the mods we did to it. And at least for us (being in our 40's) the cost was minimal. Far better then having the car stolen or damaged and they'd only cover factory items and value.

I dont know, if the Regal was mine and in at least good shape i'd still look to cover it with enough $$. Just seems if you dont, Murphy's law will rear it's ugly head at the wrong time

12:06 PM

It could depend on the state sure but many have a rules or law that is very similar.
The uniform traffic code, many states have ordinances that cover vehicles that are the same word for word while some have small differences the real differences are the penalties.

This is off the MN DPS website.

Collector Vehicle Registration
vehicles registered in any of the collector classes are restricted to operation solely as a collector item. These vehicles cannot be used for general transportation purposes. Owner has the choice of being one or two license plates for display. If one plate is chosen, the plate must be displayed on the rear of the vehicle. All license plates (with the exception of original Minnesota license plates), are issued out of the central office. No-fault insurance requirements apply to collector vehicles.

from WI
Collector registration is not valid during the month of January. To qualify for Collector license plates, each collector vehicle owner must own or lease at least one other motor vehicle for regular transportation with current, valid registration in Wisconsin under the same name(s) as the collector vehicle.

The vehicle can only be driven for special occasions such as display and parade purposes or for necessary testing, maintenance and storage purposes.

Based on the info on the NJ Motor Vehicles website, I don't think you'd qualify for QQ plates.

This is from the website -
"Any motor vehicle at least 25 years old, owned as a collector's item and only used for exhibition and educational purposes by the owner qualify for this plate. Two (2) color photographs of the vehicle must be included with your application for historic vehicle registration."

Seams to be common.

Most states impose operating restrictions on vintage- or historic-plated vehicles, limiting driving to exhibition shows for classic cars or to local parades. If you plan on using your antique/collector car for everyday use, you'll need to make special arrangements, if allowed, with your DMV. In Virginia, for example, you'll need to provide vintage license plates and register your vehicle for general transportation purposes. And instead of a one-time registration, you'll need to register your vintage vehicle annually, just like a regular vehicle.
Many specialty programs strictly limit owners to driving their collector vehicles 2,500 miles per year or less. They may even require annual odometer readings. However, if a person has regular cars that are driven daily and their collector cars are used on a limited basis consistent with owning a valuable vehicle, it is possible to find programs that don't impose strict mileage limitations, so ask.

Call your ins agent for your INS needs. and it will no longer have collector plates if you intend to use it as a daily driver.

ps
One of the biggest considerations of your collector car insurance options, regardless of whether that option is a specialty insurer or your regular auto insurer, is how often you drive the collector vehicle. The basis of many of these agreed-upon value policies require that the car not be driven over a certain number of miles per year. This means that no matter how valuable your car is, or what type of car it is, if your collector car is a daily driver, it may not be insurable as a collector car.
Many specialty programs strictly limit owners to driving their collector vehicles 2,500 miles per year or less. They may even require annual odometer readings. However, if a person has regular cars that are driven daily and their collector cars are used on a limited basis consistent with owning a valuable vehicle, it is possible to find programs that don't impose strict mileage limitations, so ask.

Wilkin Spern1941

Can You Drive a Classic Car Everyday Insure

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