Insurance: Miata as a "collector car"
 

I just bought a third car that was insured with American Collector's Insurance. I've seen their ads in magazines but never thought twice about 'em until speaking with this car's prior owner. Apparently they are open to insuring just about any car as a collector car as long as each driver in the household has a dedicated daily driver. So- I checked it out, and sure enough. I got the Miata insured for a agreed value of $7k (more than double that of GEICO) and listed all the modifications, along with roadside assistance and repair costs up $500, comprehensive and collision (neither on GEICO), no more than 3k miles a year. Total came to half what I was paying-- all the other policy features not mentioned are equal coverage.

I checked out Haggerty too, but they want the agreed value to start at $15k. I know there are others out there that do the same type coverage. Just figured I'd bring it up since I know there's quite a few that have a Miata as a second car.

will be looking into this, thanks for the idea

i wonder if they would insure my escort LOL

speaking of escort! i will be sending u PM shortly ^^^

Sounds perfect for my car only seeing 5k/year. will definitely check out.

Agreed. I'd be surprised if they said no for any reason other than the daily driver rule or a poor driving record.

I may be wrong but Im fairly certain my dad pays $100 a year for his 91. Its under "antique", not collector's. All he had to do is send in a picture, showing thats it's in good condition. Can't DD it and can't race it.

I dont suppose they have anything like this for a daily driver?

I have mine insured as a "fair weather" car. Limited miles (3.5K a year, I think), and basic coverage. No real restrictions other than mileage, which I don't hit anyway. Automatically comes off the road for 6 months out of the year, but no turning in plates or re-registration.

Costs me a whopping $137 a year, and that's in NY.

I looked into having my 94 insured through them. Unfortunately the most they would value it at was $6000 and it had to be garaged. The 3000 miles a year driving limit also killed things.

Need the Canadian equivalent of this if it exists. Most here assume you have something actually worth money.

for most of the companies u need to have either 10yrs of driving experience or be 25years old.