Insurance - Alfa Romeo Bulletin Board & Forums

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  • 1 Post By Alfissimo Int.
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post #1 of 15 (permalink) Old 03-20-2017, 08:08 PM Thread Starter
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Insurance

So, as my 164 sit for most of the winter and the car is literally new-ish at this point what about insurance?

So far my USAA is never let me down and is dirt cheap but....it won't cover what the car is really worth. So I am looking into collector car insurance with an agreed value of $20K.

Any experience with one of these agencies you all can recommend? So far I have done Grundy's with a $271 yearly quote, more expensive than USAA ($137 per year) but I have the agreed value.

Next I am looking at American Collectors Insurance through USAA.

Let me know if any of you have experience and in the end, will any of these insurance companies pay out if totaled?
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post #2 of 15 (permalink) Old 03-21-2017, 05:42 AM
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My neighbor has a 1958 Rambler insured with one of these "collector car" companies. He filed a claim (maybe $1500??) for a hood that blew off and I think it all went smoothly. I looked at 3 of the collector car companies for insurance for a 1993 164L, I think it may have been the companies you list, but I was not comfortable with their driving restrictions which limit use to "parades and car shows and an occasional trip to the grocery store". I think there are also restrictions on who is allowed to drive the car. I did not get collector car insurance.
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post #3 of 15 (permalink) Old 03-21-2017, 07:38 AM
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My gripe with NY collectors car insurance is that they require a "driver car" on the policy besides the "collector car" (in other words "driver car" could not be with another insurance company). Also, as Rick describes, there were peculiar technicalities on usage.

white '92 164 S (67K)
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post #4 of 15 (permalink) Old 03-21-2017, 08:26 AM
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Garage
I have some old Alfa's listed with JC Taylor Insurance Co. When the 164 became of age, maybe 24 years old, it could also be listed with JC Taylor. The old Alfa's have "Antique Car" insurance with stated values. The 164-S is listed on what I believe they call a 'Collector Car' insurance policy. It cost less than I had been paying State Farm, by a good bit, but it does have some limitations; I don't have the details at this time.

Some policies have a stated value range, if you exceed that range you will likely need to have an appraisal from either an independent appraiser or their company adjuster and your insurance premium will be relative to the value of the car insured.

Mark
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post #5 of 15 (permalink) Old 03-21-2017, 08:59 AM
Del
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Some, like Hagerty, require that you have another car that is less than 10 years old to use as your dd. Alas, we don't fit that requirement as our dd's are the 91S and the Milano.
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Del

Seattle

89 Milano (wife's daily driver since 1989, Shankle Sport)
91 164S (my daily driver since 1994)
94 164LS (~Q) (trip Alfa since 2000)
72 Morgan 27 (water time since 1976)

previously owned since 1964:

62 Morris MiniMinor 850, 67 Austin 1275 Cooper S (Downton 3/4 race), 64 Giulia Sprint GT (1st red one made), 72 Fiat 128 Sedan, 75 Alfetta Sedan, 78 Alfetta Sedan, 78 GTV, 81 GTV6, 86 GTV6
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post #6 of 15 (permalink) Old 03-21-2017, 02:47 PM
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I use American Collectors. Nothing but good things to say. You will be very happy.
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post #7 of 15 (permalink) Old 03-21-2017, 03:30 PM Thread Starter
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Thanks for the comments,

Hmm, I have also decided to dump some more money into this car so I can really drive it, even in snow if I have to. So Q2 diff is finally going in. Q4 rear brake rotors and calipers. New winter wheels or using the Sienna's for winter and getting 17X8 wheels for summer.


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post #8 of 15 (permalink) Old 03-23-2017, 07:31 AM Thread Starter
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Still investigating but will finalize this post when I come to a conclusion.


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post #9 of 15 (permalink) Old 03-24-2017, 06:16 PM
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Quote:
So, as my 164 sit for most of the winter and the car is literally new-ish at this point what about insurance?

Quote:
So far my USAA is never let me down and is dirt cheap but....it won't cover what the car is really worth. So I am looking into collector car insurance with an agreed value of $20K.

Any experience with one of these agencies you all can recommend? So far I have done Grundy's with a $271 yearly quote, more expensive than USAA ($137 per year) but I have the agreed value.

Next I am looking at American Collectors Insurance through USAA.

Let me know if any of you have experience and in the end, will any of these insurance companies pay out if totaled?
My two Alfa's incur regular but very competitive rates around $550.00 a year each with State Farm who I switched to when Bella Alfa (164L) was totaled by at fault driver and they were very good to me at the time.
Both are alternate daily drivers with high liability but no crash, theft or fire coverage.

If I total or damage the cars through my own stupidity then I deal with it in humble fashion.
If someone is stupid enough to steal them then I deal with it...its a small world and I will find them.
Alfa's don't burn.

Insurance is a necessary evil.

I understand the need to insure a pristine car for $20K and those rates quoted seem very good to me.
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post #10 of 15 (permalink) Old 03-24-2017, 07:47 PM
Del
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What usually happens with regular insurance with collision is that the company will total the car, and it is up to you to pay to fix it if you choose to. You end up buying the car back from the company because they think it is worth a lot as parts, but then it costs you yourself to restore the car. the drive which caused the collision (both times in our cases) gets away scot free.

Have done that twice, saving two "totaled" but minor damaged Alfas. Basically, collision insurance on these cars gets you nothing. I keep saying that we should drop collision on our car, but the wife says that it is cheap so why drop it. Money wasted I say.

I have a friend who has never had collision on his cars, even his Audi A4, keeping an interest bearing account with money in it for that if needed. His gamble has easily paid off over the decades.

I keep trying to get classic insurance on at least the LS, but I keep running up against the daily driver requirements.

Del

Seattle

89 Milano (wife's daily driver since 1989, Shankle Sport)
91 164S (my daily driver since 1994)
94 164LS (~Q) (trip Alfa since 2000)
72 Morgan 27 (water time since 1976)

previously owned since 1964:

62 Morris MiniMinor 850, 67 Austin 1275 Cooper S (Downton 3/4 race), 64 Giulia Sprint GT (1st red one made), 72 Fiat 128 Sedan, 75 Alfetta Sedan, 78 Alfetta Sedan, 78 GTV, 81 GTV6, 86 GTV6

Last edited by Del; 03-24-2017 at 07:55 PM.
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post #11 of 15 (permalink) Old 03-24-2017, 10:06 PM
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We have State Farm on all our vehicles. They coughed up no problem on my wagon when someone drove into the rear end in a parking lot. Luckily the damage was minor enough that there was no question that it should be repaired. Still, it cost a bundle. Cross our fingers otherwise.
VM
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post #12 of 15 (permalink) Old 03-24-2017, 10:11 PM
Del
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At the generally very low assessed value of these nonclassic Alfas, it doesn't take much damage at all for most insurance companies to total them.

Del

Seattle

89 Milano (wife's daily driver since 1989, Shankle Sport)
91 164S (my daily driver since 1994)
94 164LS (~Q) (trip Alfa since 2000)
72 Morgan 27 (water time since 1976)

previously owned since 1964:

62 Morris MiniMinor 850, 67 Austin 1275 Cooper S (Downton 3/4 race), 64 Giulia Sprint GT (1st red one made), 72 Fiat 128 Sedan, 75 Alfetta Sedan, 78 Alfetta Sedan, 78 GTV, 81 GTV6, 86 GTV6
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post #13 of 15 (permalink) Old 03-24-2017, 10:17 PM
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I know. Likewise an old Rover P6 that's a potential DD, not beautifully restored. In fact, the last time we had an accident with one of the P6s (Jehovah's Witnesses drove right into us, IN OUR DRIVEWAY, at the blind corner) we got a wopping $800 out of it. But we were so poor, and our bills so minimal, that I think we lived on that money for 3 months! That was a LONG time ago...
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post #14 of 15 (permalink) Old 03-25-2017, 04:08 AM
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I just switched my LS from State Farm to American Collectors. I've been with State Farm since 1970 for cars and later home insurance. The LS was costing around $350.00 per year with no collision coverage. With American I'll be paying $225.00/year with $1000. deductible collision and agreed value of $6000.00. They allow 5000 miles/year; however they also will write policy with 7500 miles/year limit.

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1994 LS Auto 84K
Euro Headlights
Goats LCD
156 Wheels

Previously Owned: 76 Alfetta GT,81 Spider,88 Milano,89 Spider
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post #15 of 15 (permalink) Old 03-25-2017, 04:41 AM
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What usually happens with regular insurance with collision is that the company will total the car, and it is up to you to pay to fix it if you choose to. You end up buying the car back from the company because they think it is worth a lot as parts, but then it costs you yourself to restore the car.
That's exactly what happened when Bella (164L) was totaled by a careless driver.

Initially State Farm offered a low market value but when I whined and after the loss adjuster saw the car they had me send copies of restoration documentation and literally doubled the settlement amount.

That's when I switched to State Farm and they gave me much better annual rates than I had beforehand.
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