Auto Insurance for X1/9s

ryan

ryan

True Classic
Not sure if this should be under the Discussion forum, but figured it does have X content. :)

I'm wondering what other X owners use for insurance, especially since general auto insurance usually doesn't cover the real value of classic cars.

I've been using State Farm for years, and they do have a "fixed value" policy for classic cars. However, in general, State Farm's rates leave a lot to be desired compared to Geico and Progressive -- which also seem to be more modernized and have better customer support (along with good rankings in JD Power, etc.).

Anyway, so, wondering what people on here use? It seems Geico has a "classic car" division that does fixed value insurance. Progressive does not. Progressive referred me to Hagerty for the "classic" car, but they only do cars 1986 and older (my X is an '87, my Alfa is an '88).

If you have a really nice fixed up X1/9, and heaven forbid, it is stolen or totaled, how much is regular auto insurance going to give you? I'd think a basic X1/9 in very nice shape should be around $4000-$5000 these days. NADA online tells me an '87 X is $4,325 (low retail), $7,025 (average retail), $12,750 (high retail). If that is what the insurance companies go by, then I'd say we're all good. :D

Then again, considering cars valued at $10,000 or less, maybe it isn't even worth the fuss.. better to just get the lowest rate, save that money, and just keep finger's crossed? :D
 
ryan said:
Progressive referred me to Hagerty for the "classic" car, but they only do cars 1986 and older (my X is an '87, my Alfa is an '88).
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Not sure about this, my 87 is insured with Hagarty, I added it to the policy a few months ago when I got it, and they didn't bat an eye at the year.

Pete
 
Pete Whitstone said:
Not sure about this, my 87 is insured with Hagarty, I added it to the policy a few months ago when I got it, and they didn't bat an eye at the year.

Pete
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Thanks for the message Pete, I'll definitely double check. Are the Hagerty rates pretty fair?

Ah, I know what happened, I went to the quick quote on their website and put in a "stock" car. That only works for '86 and older. I guess you have to put in "exotic/special interest". When I read that the first time, i thought that was referring to cars like Ferraris, but I think it does fit also for Fiats. :D

But anyway, Hagerty seems like a good way to go for 80s Alfas and Fiats? I was talking with Progressive some just now about the value of the '87 X1/9, and how NADA shows pretty good values. They said they go by NADA to help customer's insure the cars, but didn't really seem to be able to give me the value that their adjusters would actually use. Just seems scary that you pay pretty good money for insurance, and instead of getting $5000-7000 for your car if it is stolen, they write you a check for $800. :wall:

Thanks!!
 
I use Country Companies. 118 bucks a year. I have no idea what they would pay if it got stolen. Minimum coverage to get my plates and stay legal.
 
Hagartys seems like a good deal to me...

Their rates are low ($140/yr full coverage for my Scorp, $6k agreed value), with few restrictions.

Of course, all they have done so far is collect my money. Who knows what a claim situation is going to be like. I'd be curious to hear of anybody's experience in this area.

Pete
 
I have Hagerty on my '63 Midget. $120/yr at $8,000 agreed value, no deductible. You have to have at least one car per licensed driver in the household BESIDE the "classic" insured with them and you technically can't use it for a daily driver. You need to keep it in a garage. There is no mileage restriction but if you wreck it during a commute they can technically deny your claim. I had my Opel GT insured with them, agreed value of 5k (paid $3,500) seemed like a good value. That car was wrecked and Hagerty paid me the full 5k promptly. I could not replace the GT for 5k, not without a year long nation wide search and I didn't have the heart for it, thus I bought the Midget.
I did not use Hagerty for the X because it's only worth $1,200 or so (by my estimate) and I commute with it. I pay normal liablity and that's it. If it gets wrecked I get nothing. I don't even remember who carries the X.
Hagerty will likely let you name the value up to whatever you want (with in reason). When I insured the Midget I started at 6k and said, "wait, better make it 8, what does that raise my premium to?" she paused a second and said "same price as 6". These are peanut values to Hagerty who likely average insuring cars at 20K and way way beyond that. Our Xs are bottom feeders on the classic car value scale, even if we all know how dang cool they are and how under valued they are.
If my X were my "toy car" and I didn't commute with it so much I would go Hagerty again in a heart beat and put it at 8 or so, (but I'd go as high as they'd let me while keeping the premium reasonable) that way if it gets totaled I could have a nice X back in the garage in a week. It's quite possible you could get it 15k or more.
Just beware that, as I understand it, if you drive it a lot, Hagerty could deny your claim if they think, and can "prove" you are commuting.
I should also mention my Midget is registered as an historic vehicle with the state of Michigan which lowered my Hagerty premium a bit since that registration's status (supposedly) limits my driving even more, but I ignore the state's "only to and from classic car events" rules completely since they never check and don't really care. Historical registration means I only have to reup the registration once every 10 years.
My '72 motorcycle is registered historic with on original '72 plate and that I never have to re-register, ever.
I'd be interested (and perhaps some research is in order) to know if Hagerty ever denied a claim based on "commuter" rule breakage.
 
Ryan... if yur over 27...

I use Grundy, all the bells and whistles, $8500 agreed upon value, Zero deductable... 91 dollars a year...

I used them once for an accident... went and had it repaired at Pride Auto right away... they sent me a check the next week!
 
Black-Tooth said:
I use Grundy, all the bells and whistles, $8500 agreed upon value, Zero deductable... 91 dollars a year...

I used them once for an accident... went and had it repaired at Pride Auto right away... they sent me a check the next week!
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With places like Grundy and Hagerty, do you just state $8500, and they pretty much go from there if it isn't too unreasonable? NADA really lists our X1/9s pretty high values now. :eat:
 
Hagerty asked for pictures...

ryan said:
With places like Grundy and Hagerty, do you just state $8500, and they pretty much go from there if it isn't too unreasonable? NADA really lists our X1/9s pretty high values now. :eat:
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But other than that, they didn't require any documentation that the car was worth what I said it was worth.

Pete
 
Pete Whitstone said:
But other than that, they didn't require any documentation that the car was worth what I said it was worth.

Pete
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Great. Thanks a lot everyone for the advice. Looks like Grundy/Hagerty are great ways to go for our cars. I really like the stated value aspect, and also the much more fair rates.
 
State Farm cheapest for me...

...but then I've had house & multi-car policies for 30 years.
Resulting in longevity and no-claim discounts.
Plus Senior discount after 55 yrs.

Paid those folks purtnear $50000.
Staggering.
 
Some more answers...

Grundy wanted fotos and THEY assigned the value initially. In the last few years they UPPED the value 500 a year for another couple of bucks... literally, 1 or 2 dollars more.

Secondly... I went to AAA for my '69 Vette as it added a second car to my DD policy... was a few more dollars than Grundy on its own...

BUT... and I say BUTTTT!

When added all up... adding the Vette with an agreed upon value of $32,000 with all the bells and whistles... I ended up paying 30 dollars LESS than what I was already paying!

Don't forget to consider the ENTIRE package like me and the Old Rascal do... and you can join our Mr. Frugal Club!

(Knowing a few things about Middelstead I can't type here... That's why he's the GRAND EXALTED PUPA!)
 
I have progressive and when I added my X1/9, my annual policy actually went down. I wonder if I get a second X if it will go down even further....:)
 
I remember Gundy wouldn't insure me because, as I recall, they had more restrictions on usage. I think they make you sign a form that states you won't drive it on a regular basis, don't quote me on that but you'd better ask them point blank.
Just read the fine print. Not fun to have a claim denied and it would be bad enough to not have the value of your car covered but worse, you could be exposed to liability and that would make the 8 or 10K car value seem like peanuts if someone comes after you for 1.7 million.
I'm no lawyer.
 
Chris St-Louis said:
Here in Missouri, putting Historic plates on it DROPPED the insurance. I'm full coverage, agreed value of $5500 for $98 a year!:excited:


A YEAR!!!!

I love being old!
:headbang:
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Isn't it more that your car is old? :nana:
Kidding. Hey, $98/year, awesome! :eat:
 
Jeff, AFAIK, all Collector Car Policies...

... require that your collector car NOT be a daily driver.

That's the point!

But I found Grundy to be one of the LEAST restrictive... some will only allow you to drive to and from some kinda OFFICIAL event. Some have 2500 miles per year maximum, etc. etc.

Grundy allows you to drive for PLEASURE which would include a "Friday or an occasional" drive to work!

BTW... even Grundy has different "policies" from state to state to conform... Like for California, Uninsured Motorists coverage is a must, but not in Arizona...

Bottom line... every individual has gotta SHOP for the best policy for their State, County, age, and driving history...
 
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