Topic: INSURANCE on my restoration project

[Brian Conway]

     FWIW  I just saw my State farm agent, I was getting the FREE 2015 calendar, so I asked him.  State Farm covers my home and my cars.  He says; home owners insurance does not cover automobiles.  Automobile insurance covers my cars.  Further stated this was true for all insurance companies.  So even through the insured car is in the insured garage the home owners policy does not cover or help out.  Brian

[69cobrajetrugae2]

My state farm agent said the same thing.

Self insuring yourself and installing a fire sprinkling system would pay for itself in no time, and provide peace of mind.

I disconnect my battery.  The fuse box  has two sides, fused and un-fused.

If an offshore repop turn signal assembly or wiper motor or headlight circuit shorts out, then a fire becomes a real possibility.

My thinking is this.  Why energize a 50 year old electrical system when the car is not is use?

[rodster]

My thinking is this.  Why energize a 50 year old electrical system when the car is not is use?

+1

Not just the 50 yr old stuff, some of the 80's cars had terrible wiring so all of mine have battery disconnects.

[gimpystoy]

I've had Hagerity on my 67 Project since it went into restoration shop  in 013. I have parts coverage too.

[Mike_B_SVT]

For a homeowners policy there will likely be a dollar limit for specific items with significant value. I checked some years ago for my firearms, my agent said that there is a limit of $2000 for firearms. I would have had to get a rider policy if I wanted to insure them for full value. Car parts would likely be similarly limited.

Same here ~ had to add riders for various items over the standard values.  It actually turned out to be cheaper than I expected, and well worth it.

I imagine if you have a significant number of parts and vehicles, it could add up fast and easily exceed what the Ins Co. would typically pay.  Determine a value for your "collection" and ask about a Home Policy rider.

[Shelby1962]

JC Taylor insures my project cars all of the time with agreed value. And it is real inexpensive. They now cover my '38 Buick and the pictures I submitted were of a pile of parts and a painted body shell.

[Smokey 15]

I've had Hagerity on my 67 Project since it went into restoration shop  in 013. I have parts coverage too.

We have Hagerty on several drivers, a couple project cars and a couple cars in storage. I send them progress pics when there is noticeable change and we up the value as needed. I have had claims with them and they have been great.

[corbins]

While most all standard HO policies exclude "motor vehicles" , all will provide coverage for personal property. A car in "dead storage" ( read, no wheels and tires on car, no fuel tank, tags, current registration ) is generally not considered to be a "motor vehicle" and therefore falls into the realm of personal property. Your agent should be able to clarify this with his underwriter.
Having said this, it is way easier to just talk with any of the specialty carriers and secure proper coverage for your project in its current condition and its related parts.

[KevinK]

We have American Modern (AMIG). Originally, sponsored by Ford at the 30 Ann. Show. So far they have been good and currently working thru 2 claims. They did give some push back on insuring the newer cars but some of the other insurance companies mentioned above were down right rude when trying to secure a policy.

Claim responded to within 2 days.
Adjuster arrived with in 1 week.
Settlement check arrived in about 2-3 weeks. Still work in progress.

[WT8095]

A car in "dead storage" ( read, no wheels and tires on car, no fuel tank, tags, current registration )...

"no fuel tank" - fuel tank not installed, or did you mean "no fuel in tank"?

[Smokey 15]

 It can be either way. What the point was, is that the car isn't road ready.

[WT8095]

It can be either way. What the point was, is that the car isn't road ready.

OK, I thought perhaps you meant that it was required to have the fuel tank out to qualify as dead storage.

[Smokey 15]

 I've never had Hagerty question me on the cars that I insure as projects. My wife's '71 Z/28 runs and will move under it's own power, but the interior, exhaust and other items need to be installed to make it road ready. Just don't forget to call Hagerty when you decide to take the car out, even for a "test spin'. If you don't, that's when something will happen.

[Laurie S.]

I was with Hagerty for years, and had their coverage on my modified 68 fastback from the time we had the body ready for primer.  But, Hagerty got ridiculous with their costs for insuring a modified car that wasn't even driveable yet, so I checked with Heacock and Grundy.  Heacock would give me no more than 100 miles a year on my 68 coupe for driving, which was ridiculous.  The cost wasn't all that great, either.  I may drive my coupe less than 100 miles a year, but I don't want to be restricted like that.

I went to Grundy and they gave me great coverage at a good price and no hassles about my modified car.  They even agreed to bundle in my enclosed trailer and they don't normally insure trailers.  To insure my modified fastback with Hagerty, I had to fill out a very detailed form about each modification.  When I got the quote from Grundy, I asked do you want the information on my modified car and they said no, just tell us what the total car is worth.

[Smokey 15]

 Good info, Laurie. I am building a '70 RS Camaro that has a ladder bar rear suspension and a cage certified to 8:50. It is currently insured with Hagerty as a project. Not too many from them.........yet. We have all our cars insured with Hagerty so maybe we'll have no hassle. If we do, it's good to know the info that you posted. Thank you.