Cannot Insure My Classic Car to Tow ! - Page 4 - Fiberglass RV


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Old 04-24-2013, 03:49 PM   #43
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Name: Chris
Trailer: Scamp 16
New Hampshire
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Well my regular insurance company who is affiliated with AAA wouldn't insure a vehicle that was 36 years old. Then my collectors insurance wouldn't cover the trailer.

I called a few other collector insurance companies after seeing a wiki page on the tincantourist website. All of the companies listed did not in fact cover trailers. One mentioned covering teardrop style custom trailers on their website but on the phone they said nothing is covered.

Anyway, I just got off the phone with Allstate. They offered coverage on my 1975 pickup at double the rate of the collectors insurance but much better coverage. I will be able to add the trailer once I take possession and both will be covered. I'll probably take the vehicle off the road in winter and put a hold on the policy to save money.

The only risk here is that in the event of a total loss (lets hope that will never happen) they may not want to pay out what I still owe on the vehicle, since its actual value far exceeds what KBB and NADA consider it. I asked about it and the representative said they will take the loan, the repair estimates, and book values into account. I'm a pretty safe driver so I hope it doesnt come to that...but at least I'm covered for liability on both the truck and the trailer.
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Old 04-24-2013, 05:16 PM   #44
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Name: Tony
Trailer: Trillium (formerly)
Ontario
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insurance for towing with classic car

Looking like I was lucky to find the coverage that I did. If my trailer were not the same year as my car I would be still searching.
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Old 05-10-2013, 07:24 AM   #45
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Name: Wayne
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T-Bird Tony.... Saw this pic on another RV forum yesterday. Really nice looking combo.....
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Old 05-10-2013, 07:59 AM   #46
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Name: Bob
Trailer: 1973 Hunter Compact II
California
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Stated Value Ins Policies

Good to see you got ins. You didn't mention any numbers, but most "Collectors" policies have a bunch of use & coverage limits that usually result in a fairly low rate as compared to "regular" policies.

I have had Allstate Ins for over 40 years and I have a stated value rider on my Hunter (that incurrs an extra premium) that will pay up to $10,000 in the event of a total loss. Of course I have to prove replacement cost should that happen, but at least I don't have to fret about them using BlueBook or other listed values.

I have heard that Allstate does not offer this option in every state, but you might check with your agent.

BTW: As a new customer, suspending coverage might not save all that much due to "fees", and may get you tagged as a less desireable customer. Check out those issues before you suspend.
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Quote:
Originally Posted by chuyler1 View Post
Well my regular insurance company who is affiliated with AAA wouldn't insure a vehicle that was 36 years old. Then my collectors insurance wouldn't cover the trailer.

I called a few other collector insurance companies after seeing a wiki page on the tincantourist website. All of the companies listed did not in fact cover trailers. One mentioned covering teardrop style custom trailers on their website but on the phone they said nothing is covered.

Anyway, I just got off the phone with Allstate. They offered coverage on my 1975 pickup at double the rate of the collectors insurance but much better coverage. I will be able to add the trailer once I take possession and both will be covered. I'll probably take the vehicle off the road in winter and put a hold on the policy to save money.

The only risk here is that in the event of a total loss (lets hope that will never happen) they may not want to pay out what I still owe on the vehicle, since its actual value far exceeds what KBB and NADA consider it. I asked about it and the representative said they will take the loan, the repair estimates, and book values into account. I'm a pretty safe driver so I hope it doesnt come to that...but at least I'm covered for liability on both the truck and the trailer.
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Old 05-10-2013, 08:19 AM   #47
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Name: Don
Trailer: 1989 Bigfoot 17'
Ontario
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Quote:
Originally Posted by chuyler1 View Post
Well my regular insurance company who is affiliated with AAA wouldn't insure a vehicle that was 36 years old. Then my collectors insurance wouldn't cover the trailer.

I called a few other collector insurance companies after seeing a wiki page on the tincantourist website. All of the companies listed did not in fact cover trailers. One mentioned covering teardrop style custom trailers on their website but on the phone they said nothing is covered.

Anyway, I just got off the phone with Allstate. They offered coverage on my 1975 pickup at double the rate of the collectors insurance but much better coverage. I will be able to add the trailer once I take possession and both will be covered. I'll probably take the vehicle off the road in winter and put a hold on the policy to save money.

The only risk here is that in the event of a total loss (lets hope that will never happen) they may not want to pay out what I still owe on the vehicle, since its actual value far exceeds what KBB and NADA consider it. I asked about it and the representative said they will take the loan, the repair estimates, and book values into account. I'm a pretty safe driver so I hope it doesnt come to that...but at least I'm covered for liability on both the truck and the trailer.
Chris, my agent basically told me the same thing but we figure if I get a reliable appraisal done on my 1965 truck when they insure it it will be sort of a guideline for the appraisor to know that it is just not an ordinary 48 year old truck but that it had been upgraded and taken care of. No guaranty they will meet the appraisal sum but will be a lot closer to its true value as opposed to the blue book value. I too will be taking the liability off of it for the winter time.
Good luck with your policy
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Old 05-10-2013, 09:38 AM   #48
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Name: Bob
Trailer: 1973 Hunter Compact II
California
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The key words to use are "Actual Replacement Value" and "Stated Value", in insurance they go together. The first one trumps their favored "Blue Book" value, the latter gives a ceiling that you are willing to pay extra for up front.

I print out "For Sale" ads for every restored Hunter Compact-II I see advertised. Should the need arise I can contact the sellers and get actual sales prices to use for a claim. This advice is per my now retired Allstate Agent who helped me get a lot more for my stolen and wrecked Corvette than was first offered.

Again, available coverage, as well as agents attitudes & interest, can vary from state to state as well as in Canada.
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Old 05-10-2013, 10:07 AM   #49
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Name: Don
Trailer: 1989 Bigfoot 17'
Ontario
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Very true Bob but they won't give me an "Actual Replacement Value" on a classic used as a daily driver. I never thought of keeping the ads for similar vehicles/trailers and seeing what they sold for. Very good idea that I will start using.
Thanks..
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Old 05-10-2013, 10:11 AM   #50
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Name: Carol
Trailer: 22' Airstream Formerly 16' Scamp
British Columbia
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I pretty well do the same as Bob does in making sure that my insurance is indeed "Actual replacement Value" & the agreed value of the trailer at the time the insurance is purchased is actually stated on my insurance documents.

Its still up to me to prove in the future that the trailer is in fact still worth the amount its insured for or more. So like Bob when I see an advertisement for similar trailer I cut and past all the info into a Word document showing the date and location and where the ad was posted along with any photos of it. I also keep current photos of my trailer and any improvements etc made & any bills I may have for parts etc. I do pay a higher rate for the Actual replacement Value insurance vs their standard RV insurance.
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Old 05-10-2013, 10:28 AM   #51
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Name: Chris
Trailer: Scamp 16
New Hampshire
Posts: 165
Keeping old ads is a great idea. You can also search eBay for past auctions. I have an alert set up for whenever a Mazda REPU comes up for sale (it isn't often, which is why NADA and KBB values are way off).
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Old 05-10-2013, 05:19 PM   #52
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Name: Tony
Trailer: Trillium (formerly)
Ontario
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T-bird

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T-Bird Tony.... Saw this pic on another RV forum yesterday. Really nice looking combo.....
Really sweet looking T-bird trailer combo. Thanks for the picture.
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