Insurance Question

For those of you who have your car titled and registered for road use, can you let me know which insurance company you use. I am having some difficulty finding an insurance company to cover the car at all and for those that do they only offer up to $300K liability coverage and my umbrella policy requires base coverage to be a minimum of $500K.
Any info greatly appreciated.
 

Jared V

Supporter
I have been working on insurance. Haggerty gave me quote. Allstate who I have my other cars, motorcycle and property gave me a quote. I believe my agent reached out to one of the other companys like American Modern. I got quotes as high as $4k a year to $1400. Depends alot on the type of coverage of course. I will try Midwest.
 

Scott

Lifetime Supporter
Hagerty insures my cobra, but they won’t insure the SL-C because it’s an “exotic” Let me know if you hear different.
 
I have my two Mustangs ('65 and '92) insured with American Collectors. Both are declared value ($38k and $11k) with 2,500 mile yearly limit - technically no commuting to work allowed. The combined premium for both cars is $480/year. "Full coverage" with $100 or $200 deductibles.

Considering my only experience with them is Mustangs, I obviously can't say what they'll do with a component car. Can't hurt to call.
 
I'm with American Modern. I have a fairly generous mileage limit which I won't ever exceed and I can use my car for any purpose other than drive it on a race track. My yearly coverage for an agreed upon value is on par/slightly below what I pay for my Audi.
 
My insurance agent just got me a quote from American Modern - just over half the cost of the American Collectors policy I had but with better limits - got the necessary $500,00 liability coverage.
Thanks for all the info.
 

Jared V

Supporter
I recieved a quote from Mid West yesterday and while it was very competitive with the others, the quote from my Allstate agent was slightly lower and he matched coverage with my other cars. Again I think he was getting it through American Modern. At least we have options for these component cars.
 

Dave Hood

Lifetime Supporter
I just received a letter from Midwest Classic insurance telling me that they've been bought out by Hagerty and my insurance will only be good until March of 2020. I was paying $800 a year for a replacement value of $150,000 with Midwest and the ability to put as much as 6,000 miles on my car every year. Very happy with that. I went online and entered my instant quote on Hagerty's website and the price was $2,000 for similar coverage. Ouch.

If anyone has alternative suggestions, please let me know.
 
Interesting...my cobra replica and Corvette are insured by Midwest... I'll look into it. Thanks for posting...
 

Randy V

Admin
Lifetime Supporter
Check with American Collectors Insurance. I have found them to be much more reasonable than Hagerty - however - I’ve never had to file a claim with them..
 

Doug Dyar

Supporter
I just received a letter from Midwest Classic insurance telling me that they've been bought out by Hagerty and my insurance will only be good until March of 2020. I was paying $800 a year for a replacement value of $150,000 with Midwest and the ability to put as much as 6,000 miles on my car every year. Very happy with that. I went online and entered my instant quote on Hagerty's website and the price was $2,000 for similar coverage. Ouch.

If anyone has alternative suggestions, please let me know.
Dave
Any update? I have three cars insured through Midwest and haven't heard anything about cancelling my policy.
Has anyone else received a similar letter?
Doug
 

Doug Dyar

Supporter
I just found this on Midwest's web site:

"Changes made starting in March of 2020

Starting in March of 2020 Infinity Insurance Company will no longer be writing new business. They will continue servicing policies and claims but will not be writing new business. They will continue to send renewals out for the States of California, Idaho, and South Carolina. On our behalf they have been working with Hagerty to provide a competitive quote for our clients with special rating. You will receive a renewal offer from Hagerty and in addition we will be looking at the other two markets in our office American Modern & American Collectors. Our most important consideration is to be sure we can continue doing a great job for you in service, costs, and claims. If you have any questions concerning this transition or get a renewal offer before we have been able to reach out to you please contact our office and talk with Robbin or Norma. After hours drop us an email at [email protected] or [email protected] and we will be sure to get back to you in a timely manner."

So it seems that not all of their customers are affected, and it's Infinity, not Midwest, that's causing the changes. Big sigh of relief on my part, and this explains why I haven't received the same letter.

Doug
 

Howard Jones

Supporter
My letter, Infinity, says they are no longer doing business in Texas and have been bought by Hagerty. Hagerty will send me a "competitive" quote and offer in January. I think I will drop by my insurance guys office and see what I can find out on Monday. More then...……………………..

I should add that my policy is a Limited Trailer and Paddock (LTP) policy. Basically a policy that covers the agreed value anytime except when it is being driven. I have to keep it locked in garage or in a secure paddock and the truck and trailer must be insured but not by them. I wanted it for trailering wrecks, fire in my garage or theft in trailer or garage. I figure if I wreck it on track that on me and I'll fix it.
 
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