Adequate insurance for a nice daily driver

[Citypol86]

Hey, guys,
I don’t post much but I need your help now.  I’m the proverbial short, fat, old guy and am looking at retirement.  I got rid of my modern (read computerized) vehicles and now have a ’69 Buick GS400 and an ’87 Chevy V-10.  Both are built, mildly, and the GS is insured through Hagerty.

The Truck:
She’s an original ’87, no accidents with a near perfect, original paint, body.  The engine is a Blueprint Engines 383ci/437hp aluminum head small block.  The trans is an Extreme Autos 700R4 w/lock-up and it has a stock NP208 transfer case.  All told, I have around $25k invested.
The Problem:
I can’t insure the truck with Hagerty because they require a “daily driver” vehicle to be insured in the standard manner.  Also, I can’t find an insurance company that will do an “AGREED VALUE” policy on the truck. 

(By the way, if you have ANY money invested in an older vehicle, you NEED the “AGREED VALUE” insurance and the policy has to state that.  The “Stated Value” type insurance is always coupled with a small-print statement of the company’s choice of “actual value or stated value” to be paid, whichever is less.  In other words, they’re NOT going to give you what the vehicle’s worth or enough to repair the vehicle if it’s seriously damaged.)

So, does anyone use an insurance company that allows use of the vehicle AND agreed value insurance?  I only drive about 3500 miles per year and realize that I’m going to pay more for the insurance but I hate worrying about not being fully covered.
By the way, I already did a search of the site and there’s nothing recent/applicable to this problem.

Thanks in advance, guys!

[Mr Diesel]

I am a little skeptical you will find an insurance company that will do an agreed value on that truck. Even if you did, I think it would have to be reappraised every year. It's a nice looking truck, but it doesn't look like it's worth even half of 25k so what insurance agent would agree to that?

I have minimum liability on all my vehicles because everything I drive is 20-40 years old. Even a restored 20+ year old vehicle loses value fast, so the amount I have saved in insurance costs over the last 20 years will cover any repairs I have to make that are not covered by insurance.

[VileZambonie]

Try American Modern Insurance Group or try Grundy.

Also contact an insurance agent in your area, they often have connections that you won't find on your own.

[carmen77]

I don’t have any insurance advice but I will take that 69 Buick off your hands to cut your insurance cost by having 1 less insured vehicle.

Just kidding. it’s a sweet ride though and nice truck too.

Hope you work your insurance problems out.


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[78 Chevyrado]

I've been trying for years to find that, man.  Bad news is I can't find what you're looking for.  Just got rear ended in my 78 today, hit and run and if they don't find the guy I'm gonna have to eat it.  I even have other cars insured as daily drivers. a 97 camaro and '18 impala but they won't insure my truck for driving to work, towing a trailer, etc...  ya know truck stuff.

[frotosride]

Grundy is the only one I know of that actually advertis what you're looking for.
I hate the fact that my truck is the most expensive vehicle I insure. Out of the 4 or 5 currently on the plan it surely cost the most.

[78 Chevyrado]

Grundy wouldn't do me at any price because I drive it to work.  All I do is goto work and home.  I despise insurance companies for old cars.

[Mike81K10]

What about Hagerty Insurance?

[JohnnyPopper]

Buy a stupid ugly little used beater and call it your daily. Oh, and buy it a car cover...

[78 Chevyrado]

What about Hagerty Insurance?

They shot me down because I wanted to drive it to work even though I work in a govt facility with high fences and gates and security guards and I could prove that.  Stated value seems to work but they only want you to drive it to car shows, car events, etc... And I don't mean collector ins.  Some won't even let you ever park in a parking lot except for refueling.  It indeed seems everyone with an old car just lets it sit except once or twice a month.

I mean I need to drive it to work since that's 95% of where I drive to.  And being a truck they won;t let me park at home depot.  They really freaked when I asked about towing a trailer...   I'm like it's a #$%^ truck.  of course I'm going to Home Depot WITH my trailer...

[78 Chevyrado]

Buy a stupid ugly little used beater and call it your daily. Oh, and buy it a car cover...

I have my '18 impala and '97 camaro.  95% of my driving is going to work and back.  I go almost nowhere else so I rotate the cars out constantly.   I like to drive the camaro the most and drive the truck at least every 2 weeks.  I drive the impala when the camaro is down or every 2 weeks to keep it up.

[JohnnyPopper]

When I called the Hag about a vintage VW, they shut me down right quick for their own reasons.

When I had my business insurance broker call about my truck, they were happy to take my (our) money. No questions!

They are probably wary about being scammed, not to suggest you are.

If you can, try that route.

[philo_beddoe]

I had no problem with Hagerty, I insured it for 12k and I pay $236 a year, $191 for the full coverage and $45 for the optional “drivers club” perks, such as the flatbed towing and the Hagerty news magazine which is really cool. No kidding. I do drive it year round as long as the pavement is dry and the sky is blue. Which ain’t often in a New England winter. Dec. - Feb. I probably drive it like three times. But don’t tell Hagerty.

Hmm, now I’m wondering if I should up it to $18k.

[JohnnyPopper]

Yes, I would up the coverage. I pay 400ish and they have me covered for 34K ( I was surprised but that's why its good to have a broker?)

[78 Chevyrado]

Nobody will touch me.  I have a regular driver (18 impala)  They won;t do it for me.  I would expect that it would cost what a several year old car would cost (approx $12k)  but they won;t insure me for any price.  I do drive my truck and camaro like any other car...  Rain or shine, sleet and snow, I gotta drive one of em...  I don't believe in owning a vehicle you wouldn't use as a true daily driver.  Any of my three cars I would drive on any day of the year.  I drive the truck on snowy days, Drive the other two cars on every other day.  I would think driving an old car would drive up the cost of the "your personal safety" part of insurance.  I would also expect my truck to cost monthly what say a $12k book value car would cost.  but no, I cannot be insured at any cost no matter the appraised value ($12.5k in my case.)    I'm so bitter over these insurance companies and their behavior that if something ever happens to my truck or camaro thats a total loss I'll never build another old car (older than 4 years old) ever again.  They've gotten me to that point.