Insurance Co. says car must be in a locked garage

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Syleng1 said:
Here in CT. If a car is over 20 years old it can get collector car plates. Over 25 they are antique plates. Both take car off normal property tax rolls and drop value to $500 which means about $15 dollars a year on property taxes vs. a couple of hundred. (Yes CT is tax haven) ...
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I think you mean "tax hell" not "tax haven". Definition of HAVEN
 
g413 said:
I’m not really concerned about the cost of the cars, but I need liability to drive. I can understand the insurance’s company point of view, but I’m more concerned with a low-cost alternative for me. Any ideas? Do you guys put all your old cars in a locked garage?
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I have liability only through AAA (California State Automobile Association). They do not issue full coverage on a classic car. I drive my car anywhere and anytime I want...
 
I'm in Minneapolis and I have 4 vehicles insured through Hagerty. It's been so smooth. I've never even sent them pictures of 3 of them, just an agreed upon value for full coverage.
Last year I even bought a car in CA and called Hagerty for the insurance so I'd be covered on the drive home and they said no problem.
My Valiant got hit parked in the street last year sadly (dumbass never even stopped) and Hagerty paid quickly and fairly.
I've been with them for 5 yrs now.
 
Hagerty insured my 06 GT Mustang for half of SF. I had Hagerty on my Dart too. They did state they need to be in a locked garage. Limited to 5k a year. Road trips are fine. They told me they don’t check mileage. Told her I wanted to be able to drive to work every now and then. No prob.
Roadside service. And a cool magazine.
 
YY1 said:
If you are not concerned about the cost to repair the car, then insure it as a regular car.

I have some unconventional thoughts and practices involving insurance, mainly centering around "self insuring" against damage to my property rather than paying full coverage on anything (even new cars).

Instead I choose to put the difference in premium cost into a general "rainy day" account and then if the need arises, use that for any repair or replacement. that allows the money to stay mine instead of the insurance company's and allows it to be used for any vehicle and/or other emergency situation. (Sometimes even paying cash for a new or more likely 2 year old vehicle.)

With all that said, my 73 Satellite is the cheapest vehicle to insure that I own.

About 1/2 the cost of my 2000 Dakota and much less than my 2015 Renegade.
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Only problem with that insurance is theyll prob only reimburse you book value, for my 69 Dart its prob less than $900.
Haggerty will reimburse that same 69 Dart for $45,000.
 
"Book value" on my satellite is 14-20K.

I've got about 8 (OK, 10 including the new paint job being finished up right now) in it and could replace it for that book value figure if necessary.

...but we just paid cash for a 2020 Hyundai Kona with funds from that rainy day fund we maintain with the savings on the insurance premiums vs full coverage and/or low deductible coverage on all our vehicles and real estate policies.

In fact we got into a huge argument with the sales manager at the first dealership we went to because he could not understand why anyone would not want full coverage on a new vehicle or why anyone would want to pay cash when we "could be using our money to make more interest than their finance charge" and that he had "diversified investments making double digit income".

He A- never understood that the 20K in cash we had in a box in front of him was basically from our "petty cash slush fund" and not our life savings, B- didn't understand that you don't get to 850 credit rating by making poor financial decisions (we've had several banks and others tell us they've never actually seen an 850 FICO until us), C- obviously hadn't checked his diversified fund balance sheet lately (double digit income is pretty difficult from a fund, and has been for some time), D- never asked what investments we had (I can almost guarantee we are doing better than that doofus financially), and E- should not be concerned where the money comes from or what a cash customer does with their money other than give it to him (which we did not).

My wife and I both come from borderline extreme poverty but have managed to use very creative "outside the box" financial strategies to improve our situation throughout our lives.
 
all the classic car insurance policies that i have heard of the car needs to be stored in a locked garage. if they didn't ask you i'd advise you to check the fine print. you could be committing insurance fraud without knowing it..
 
69_340_GTS said:
What if it gets stolen, vandalized, or damaged by weather? Are you going to make up a story regarding what happened, or not even put in a claim? File a false police report?
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exactly. could open a can or worms if something happened to it and you made a claim.
 
In the days of satellites and GPS, it is too easy to tell if your house has a garage and if your car is in it.
 
Again, my way to get creative with insurance companies is to pay them as little as possible...

...and pocket the difference.

All insurance is a calculated risk. Even Insurance professionals will tell you that.

I calculate that the cash spent on a high dollar replacement value policy is best in my control rather than an insurance company.
(as well as control over what I do and when with my own car)

Of course some self discipline is required- you actually have to keep that cash on hand rather than spending on on other things.


Some people enjoy telling others how much their car is insured for.

I'd simply rather have the cash.
 
I had both American Collectors and Haggerty for my 69 Barracuda. I had American Collectors for about four years. Rates were OK, but then I called one day and asked a question about coverage. I was told that unless I was on my way to or from a car show or just cruising for fun, I was not covered. I was also not allowed to drive it to work, to a restaurant or to a store. Plus they put an annual mileage restriction on me. So I dumped them and went with Haggerty. I was with them for about ten years, but every year I got a pretty big increase. When it got to be over $300 a year, I called Grundy. They were considerably cheaper for the same coverage. I haven't had an increase in a few years, and it is $200 per year now. Look carefully at your coverages and ask questions.
 
69_340_GTS said:
I think you mean "tax hell" not "tax haven". Definition of HAVEN
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I'll second that. Don't forget, it was just a few years ago that they tried to change the tax rates on our classic cars to reflect the value of what they were actually selling for for local property taxes. Not only that, but have their own value book they use to determine the tax when you register a car, regardless of what is written on the bill of sale. DAMHIK. I'll just say that for me they doubled what was stated on the bill of sale.
 
I have American Modern (AMIG) via Heacock Classic. They also have the locked garage requirement. I can't use it for daily driving, of course, and not to go to work. But I can drive for pleasure, repairs,go out to eat, or pick up a quart of milk on the way back from the auto parts store (emails from the agent).
 
Tbh, I have a carport, and I have no problems with that, so actually, I can’t understand what it’s all about.
 
I pay almost $400 a month to insure our regular cars, and $500 a year on the Roadrunner through Hagerty. Tell me where the bargain is! The roadrunner is insured for $50k. I’ve been with Hagerty for over 20 years, they know me by name there, and have always been a good reliable company. I’ll stick with them. And yea, all my cars are garaged.
 
Reading through this whole post again, Looks like Haggerty isn't readily insuring classics in California, like most other states.
What happened to the OP @g413 ?
 
if they arent going to cover it, why not have basic liability so you can drive it? you wont get anything if it gets wrecked though...
 
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