Best Rate on Two Cars

[midnightusa]

I am a single 71 year old male, with a good driving record. I recently bought a classic 1952 Ford pickup, and purchased a policy for classics that allows 3000 miles a year for a low premium. Problem is, I now want to drive it more than that. What is my best option for a low premium since when I'm driving one, the other is safely sitting in my garage with no exposure to an accident?

 

[Guest]

I am a single 71 year old male, with a good driving record. I recently bought a classic 1952 Ford pickup, and purchased a policy for classics that allows 3000 miles a year for a low premium. Problem is, I now want to drive it more than that. What is my best option for a low premium since when I'm driving one, the other is safely sitting in my garage with no exposure to an accident?

What state are you in?

Sounds like you have a Limited Use Classic Car policy on the '52 Ford. It shouldn't cost too much more to convert that from Limited Use Classic to full use auto. It just depends on the value of the vehicle and the amount of miles driven.

 

[midnightusa]

I'm in Texas. O-deductible comp and collision is running $237.00 per year on the 3000 mile policy.

 

[djs]

Actually, its probably a restricted use policy, not just 3000 miles a year. It can be used in parades, shows, etc, not for commuting, normal transportation and things that will put more miles on the car. They use the 3000 miles a year to make the point.

You don't want to change this to a normal policy. You will want what is called a stated value policy, which insures the car for what it is worth, not the 'bluebook' value (my way of saying actual cash value, or the depreciated value). Face it, a '52 pickup might be worth $1000 via bluebook (if it went back that far), but in reality, it might be worth $20,000 in the real market. A stated value policy allows you to insure the vehicle for its appraised value.

I'm jealous. I'd love to have a '52 pickup! My neighbor has a few classic cars, he doesn't let me drive them. Heck, he doesn't let himself drive them!

Dan

 

[midnightusa]

Thanks Dan
Dropped by this afternoon and talked to my agent. My agent had insured it for $25,000 at my request. Insurance company required pictures, and approved it. It had a 6000 mile option that only cost me an additional $24.00. 6000 miles should cover me adequately, until the new wears off, and I don't drive it so much. Right now, I'm really enjoying me drives in it.