Any classic car insurance companies NOT require a garage?

Never_Enough

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For now, the Miata is outside covered as the MS6 gets the garage. It's tagged as a classic so I'd like the insurance too as it's cheaper & if something happens I will get the proper payout.

Are there any classic car insurance companies that do not require the car to be garaged?
 

AustinSN

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I tried like hell for a customer a while back who had an older 912 and couldn't find a single company that would. He eventually rented a garage in the city and parked it in there to avoid non-renewal.
 

Never_Enough

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LOL It's obviously not about saving $. It's about covering my ass if the car gets wrecked. It has a lot of $ in it.

I pay $277 a year for just liability on it right now
 

Never_Enough

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I tried like hell for a customer a while back who had an older 912 and couldn't find a single company that would. He eventually rented a garage in the city and parked it in there to avoid non-renewal.
Worst case, I just boot the MS6 out & put the Miata in then get the classic insurance. I'm house shopping so hopefully back to a bigger garage soon anyway
 

sc98cbra

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TL;DR: Read your policy! Get an appraisal and submit it to your insurer.

Are you currently under an "actual cash value" policy? Have you read your policy?

I, too, struggled to find insurance for my 67' Mustang. Because I, likewise, didn't have a garage, no classic-auto-insurance companies would provide coverage. After reviewing the language of my policy, I determined that I could take steps to ensure that I would be covered in the event of a loss.

Your policy would likely define actual cash value as meaning "the amount that it would cost, at the time of loss, to buy a comparable vehicle. . . . [a] comparable vehicle is one of the same make, model, model year, body type, and options with substantially similar mileage and physical condition."

What does that mean? How do they calculate that value? Well, if your policy reads something like that, then you may be in luck in the event of a loss. Because an insurance policy is a contract between the insurer (e.g., USAA) and the insured (e.g., you), most states find that any ambiguities (i.e., unclear terms) in the contract will generally be construed against the party who drafted the contract. Because your insurer drafted the contract, that means that any ambiguities in the agreement will be construed against them

So, what can you do to protect yourself in the event of a loss? Get an appraisal and find several advertisements of vehicles in similar condition. Then, submit this to your insurer. Do this periodically, at least once a year. Although you may not get your entire investment back in the event of a loss, you will likely be able to recover most.

This will likely be viewed, in the eyes of the Court (if it were ever to reach that point), as providing actual notice to your insurer as to the value of your vehicle. If they don't adjust your premium accordingly, well, then, that's their fault.

Moreover, an appraisal will help you if you are ever in a collision caused by someone else.

This advice came not only from my research, but also from a claims adjuster with my own insurance company (USAA). Why not call your insurer, ask to speak with a property damage claims adjuster, and they can give you comparable advice.

P.s., if you are insured with GEICO, I would dump them in a heartbeat. They will fight you tooth and nail, whereas other insurance carrier (such as State Farm) are generally easier to deal with in the event of a loss.
 
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Recon

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Another thing to look at is some classic car insurances will only cover you when you are going to car show or parade.
After the shit State Farm tried to pull on our Slantnose getting hit I wouldn’t piss on them if they were on fire.


Pick your poison.
 

Jefe

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In AZ, Hagerty will allow a carport or driveway spot. Its a higher rate though
 

RedRocketMike

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I've got classic policies with three companies and I have two addresses registered because I do have multiple garage spots, and 8 cars. If you want cheap insurance, and you're not worried about where you are parking, find another spot to park on paper.
 

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