[Incompatible]

My 1987 Spider is almost restored, but I only have liability insurance.
These are the NADA figures.
Low retail:$6425
Avg retail:$8800
High retail:$12450

Of course nobody can ever pay back the time and love we’ve spend on restoring our Alfa’s

What type of insurance do you guys (and girls) carry or recommend?
I would be pretty pissed off if some dork would run into me and I would barely get anything back from the insurance.

Thanks,

 

[bianchi1]

not mercury insurance...my 84 was damaged in a pakng lot ding.. just a driver front fender pushed in( took most of it out in a hour with hammer and dolly) and a broken steering box.. they want me to salvage the car..i think they are going to give me $3400 , , i think i can keep it thou..

 

[ga_mtn_spider]

Marc, I have Hagerty collector car insurance on my 85. It is a stated value policy with 0 deductible. The car can't be your daily driver, in fact you have to have regular full coverage on a daily driver to qualify. I've had it on my 63 Nova conv. for about 10 years so adding the Spider gave me a multi-car discount. I think I have mine insured for 6000.00 stated value with my multicar discount the Spider cost me about 90.00 a year. You can get a quote online just add a .com on the end of their name. Oh yeah one last thing , the car has to be 20 years or more old to qualify as a collector vehicle, so you would be fine. And in case you are wondering I've never had a claim but a friend ran his blown 51 Chevy thru an open manhole hidden by tall grass at a rod run in overflow parking. He sent in an estimate to repair and they mailed him a check without sending anyone out to see the car.

 

[Joe Papa Sr]

Use mine as a daily driver. Use my regular allstate plan. get a standard 250 ded. If you think your car is worth say, 10,000, then get a recommended (by your ins co) to give you an appraisal, then submit it. it should only cost you $50-60. And if your car is crashed big time, you should get ALL the money back. Dont go just for book value, as it is paltry.

PS: you do not have to renew the appraisal every year.

 

[lgbalfa]

i use hagerty's like skip - no complaints -my comments are like his.

 

[dwc]

I have had coverage for several years with these guys:

http://www.americancollectors.com/

No issues, but no claims, either, and I hope to keep it that way. I had to leave Hagerty after they decided that my '87 wasn't a "collector" car, and also that my regular daily driver wasn't "reliable" enough.

 

[Pat Braden]

What Type of Insurance Do You Recommend

An insurance company that actually plays claims for starters. Do some research in addition to what you've been told and find out what their claim percentage rate is, how they pay, and what was required to obtain payment.

Pat and I used our standard Farmers Insurance policy both in Michigan and California, with stated value and an umbrella addendum. It's also important to find an agent that understands where you're coming from, what you expect etc. It makes everything so much easier.

 

[Qbrozen]

I also have Hagerty. Nice thing is they will insure it for whatever you say its worth. I've got mine pegged at $8k (although its probably more like $6k in reality).

Now, they do seem to change their rules periodically, but once you are on, you are good. I think an '87 will no longer qualify for collector status with them, but it will qualify for exotic. I really have no idea what all that means, but getting the insurance is the important part.

I tried contacting them every year (because they will insure much younger vehicles under that exotic rule) until they finally accepted my '86 last year (20 years old) as a collector car. Then we bought an '87 BMW this year and I thought it would also qualify being 20 years old. Nope. Not a collector car. But they did insure it as an exotic. I valued it at $5k (again, above market value). My bill for both cars for the whole year is $280.

 

[Peter]

it all depends on the usage of your car. I have my Spider with Hagerty, but use is limited (can't use it as a back-up vehilce, max 3000 miles/yr, etc.) The GTV is with SafeCo, much more leeway to use it daily. Both have an agreed value though, which is the most important thing,,,,,

 

[RedSpider]

Cheryl has the right idea as far as making sure the company will pay. Rates are not the most important piece of information.

Stated value insurance is the best way to go and Hagerty, American, and Grundy and excellent reputations in payouts. But, having stated value does have its caviats and conditions. Read the policies very carefully.

The difference between collector car and exotic car is usually premium amounts and proving the car is "exotic."

I've had Hagerty, American and Grundy on various cars throughout the years, but I've never had a claim. Others I know have had claims and were satisfied with the results.

I just switched back to my regular insurance and the dreaded NADA value as determined by the insurance company. But, the SWMBO wanted to start driving our pristine, low mileage Spider to work and running local errands. We couldn't do that with any of the cited collector/exotic insurance companies.

It all boils down to what you want to do with the car.