Insurance issues, Any ideas? (not a boat, Classic car)

[alwhite00]

I have my 67 Chevelle in the middle of a frame-off - Body painted, Chassis back together, All new interior from headliner to carpet (not installed) Seats are re-covered already. I have a 5.3/4L60E on a stand, Brand new set of 17" Polished TT wheels, Nice car and all of the emblems and hood trim are new.

A few years ago when I bought this car I had it appriased and got insurance on it, A year ago I switched insurance companys and I got a letter today saying they will not re-new my policy because I did not provide pictures of the inside, outside & engine. I provided them with one picture and the appriasial and was never asked for anything else.

Now I am stuck as the car is still tore down till at least the fall, Not sure what I can do at this point - Any suggestions?

LK

 

[magstang1]

Shouldn't homeowners cover it while disassembled?

You're not driving it right now right?

 

[Henry Boyd]

Not sure about homeowners coverage on two points, the first being its a car, the second being the value it would be insured for. When I had the Porsche that I stored in the winter, I used to get coverage that was aimed at the RV market. You basically buy an automobile policy without the personal injury, medical coverage, basically all the stuff associated with a moving vehicle.

There has to be a way to do this. Multi-month restorations of antique cars are not uncommon. (In Michigan will a 67 qualify for antique plates?) Even though its not complete, you might be able to supply the insurance company with a portfolio of photos, as well copies of invoices for materials purchased documenting the work in progress.

Henry

 

[Budman]

Check with Hagertys. I had my 68 Vette insured with them, one small issue was taken care of to my greatest satisfaction

I believe they will insure restorations in progress.

 

[alwhite00]

At this point is is stored at my wife's grandmothers home untill I complete my shed in a few months & then I can bring it home. I am kind of in a bind as it's junk in their eyes as far as a vehicle is concerned. I have very few receipts as most of this stuff including the car was traded for. I traded a frame on restored 70 Chevelle for this 67 - The 70 was a Michigan car and the 67 is a Kanses car if you catch my drift.

LK

 

[dicor]

I've had collector cars for years and would always buy classic car insurance with a predetermined value. Haggerty insurance for example. Many times I would tear the car apart in the winter for repair, upgrade or whatever. Quite a few times I'd cancel my insurance while working on it figuring homeowners would cover theft or fire, I ran this past my homeowners insurance company and they said I'm covered. I would always keep it a home and in the garage. Once it was all back together I'd take new photos, if they ask for them and reinsure it in time to get it back on the road. Collector car insurance is usually dirt cheap unless you got something like a 1928 Bugatti. It's important to get a predetermined value policy when you have a classic. My first classic was destroyed in a flood while at a repair shop. It was mint and a trophy winner. The insurance company valued it according to the age of the car and thru in a few hundred extra to shut me up. Never made that mistake again.

When it's done give me call I'll make a nice Showboard for you www.donsshowboards.com

 

[Steve500dancer]

This I can help with. I have a few classic cars and a couple of sports cars. At one point I was paying about 12k a year for everything including my boat.

I have also had classics that I was in the process of restoring and needed to insure. I have restored several 58-60 corvettes and built some street rods too. What you need is a stated value policy.

All of my cars are insured with stated values. This means that I state the value of the car and my premium is based on that value. I have my classics insured through Haggerty with stated value. No limits on milage or anything like that.

When I was building my 1957 pick up street rod, it took longer then I expected so I insured it through Haggerty with a stated value that I periodically changed depending on the stage. First it was 20k then 40k then 65k and now it is 100k stated value. I had to send a picture of the each of my cars and that is it.

I have had friends with Haggerty on some high dollar stuff and never a problem with a claim. They won't insure my BMW 650 or Hummer H2 SUT. However they do insure my 59 Corvette, 70 Mustang Fastback, 57 pick up and my Viper. All are stated value.


Steve