<VV> Re: insurance question (not Corvair specific)

[Gary Swiatowy]

To the best of my knowledge the Collector car policies DO NOT offer coverage 
for "Daily driver" status. And if the car is stolen from your driveway and 
it is discovered it was not "garaged", then it may not be covered. Collector 
policies generally state that the car must be garaged, and technically you 
agree to that when purchasing the policy. As well as agreeing to driving 
limitations etc......

Most regular car policies will certainly agree to insure your 66 Corvair, 
including theft and collision. But if the car is totalled you will find that 
even though they charged you for coverage, they will only pay to their idea 
of what the car is worth. Usually in the $500-$1500 range........blue book 
value.
If they actually did insure a Corvair Daily Driver for say 
$20,000.............then they should charge you the same for it as they 
would for a new car in that value range..............and depending where you 
live that could be $400 to over $1000 just for the comp and collision for a 
year.
The whole "deal" about the collector car coverage is that it is really a 
sweet deal for the insurance companies as in truth they seldom have to pay 
out as collectors take good care of their cars, and rarely drive them.

If you do find a company that gives you a deal on a daily driver collector 
car with an agreed value................let us know!
Gary Swiatowy

> From: <monza63mo at peoplepc.com>
> I was lucky a year ago when my insurance company let me add my '66 Corvair 
> to my policy with full coverage.  Then last week when I bought another '66 
> I called my agent and was told that they don't (or won't) do full coverage 
> on classic cars.  If I have a theft or the car is totaled, they only pay 
> blue book value.  He then told me that they have an affiliate insurance 
> company that they use to insure classics and transferred me.  That agent 
> told me that requirements for coverage are a limit on miles and that the 
> cars must be kept in a locked garage.  Well my Corvairs are daily drivers 
> and I have no garage so I'm sunk.  While I have the legal requirement for 
> insurance on both Corvairs, I want insurance that will cover a theft or 
> total loss.  Does anyone have any recommendations?
>
> Art in Missouri
> '66 Sport Sedan 140/PG
> '66 Coupe 110/4-Spd