Agreed Value Coverage for Classic Car Used Daily

[JimmiDrums]

I have a customer that is purchasing a classic car valued at $75K. The problem is that this classic is the 2nd car in a two driver household and the collector car carriers seem to all state that there must be at least one vehicle per driver not including the classic car.

My client and his wife share the other vehicle and both work from home and don't have regular commutes. The classic car will be used sparingly, but on an almost daily basis. Travelers said that they will insure it on their existing policy, but they're not good for these risks as they pay out on ACV, not agreed value. Both American Modern and Hagerty have the one car per person rule.

Has anyone run across this problem and found any good solutions?

 

[NCAgent]

I have a customer that is purchasing a classic car valued at $75K. The problem is that this classic is the 2nd car in a two driver household and the collector car carriers seem to all state that there must be at least one vehicle per driver not including the classic car.

My client and his wife share the other vehicle and both work from home and don't have regular commutes. The classic car will be used sparingly, but on an almost daily basis. Travelers said that they will insure it on their existing policy, but they're not good for these risks as they pay out on ACV, not agreed value. Both American Modern and Hagerty have the one car per person rule.

Has anyone run across this problem and found any good solutions?

How many miles a year are they looking to drive it?

Safeco might be a good bet to use depending on the estimated mileage a year. I don't know what "sparingly" is. How old is the vehicle, and are there any modifications to it other than restoring it? i.e. newer engine or modifications to make it go faster, etc.

 

[Josh]

Have him buy a yugo to insure it with liability only

 

[JimmiDrums]

How many miles a year are they looking to drive it?

Safeco might be a good bet to use depending on the estimated mileage a year. I don't know what "sparingly" is. How old is the vehicle, and are there any modifications to it other than restoring it? i.e. newer engine or modifications to make it go faster, etc.

Thank you! It's a '68 Mercedes. Driven less than 6K annually. Restored to like new/original condition, no mods. I haven't thought about Safeco. I'll check their guidelines out tomorrow.

 

[Guest]

safeco, Hagerty, Infinity, american modern i think