Insurance: Miata as a "collector car"
#1
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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.
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.
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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.
#9
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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.
Costs me a whopping $137 a year, and that's in NY.
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