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Discussion Starter #1
It's that time of the year when I need to renew my insurance. Last year I used American Collectors insurance company and I think they are on the high side, they want $1786 to renew for the year.
Who do you guys recommend?
FYI, I have zero points/accidents etc. I want a policy that enables me to drive (and park) wherever I please.
Cheers
Adam
 

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Wingless Wonder
1988 Esprit Turbo
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I want a policy that enables me to drive (and park) wherever I please.
Does that mean that you drive it to work? (Cue @sleekgt)

Or, you just want a policy without mileage limits?

Jenna and I both have unlimited mileage, full coverage policies through Condon-Skelly, (Lotus Ltd) but they are for pleasure vehicles that are garaged.:clap:
 

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Discussion Starter #5
If it's not raining...the V8 is out :)
I'm a huge advocate of 'use it or lose it'. :)

American Collectors insurance would be half what I pay, however the caveat for that policy was I could drive it wherever I wanted....I just couldn't stop anywhere!! Honestly....no parking lots....not to drive to the shops. Literally drive from my house, around in unlimited circles, so long as I didn't stop anywhere! LOL

I'll have to start calling around and see what's available.

What are you guys paying for your policies? I know the variables are limitless, but I'm fairly sure there must be an average cost for a V8 annually.

Cheers again

Adam
 

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All of my cars are insured through State Farm. I have never had a problem with a claim. I get to choose the place to do the repairs and the parts used. I don't know if I pay more, I really don't care. With insurance it's not what you pay up front, it's what happens when you need to file a claim.
 
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Get Hagerty. When you crash they will give you enough to buy a new lotus. Or you can gamble with Progressive, Geico etc. and when you crash they will tell you that your car is worthless.
 

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Discussion Starter #9
Just had a quote from them about $400 lower than I am paying now.
You chaps with Hagerty, have you had any issues with them requiring you do not drive on school runs, trips to the store etc?
Anyone got anything bad to say about Hagerty?
Think I might give them a try.

Cheers

Adam
 

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I just started with them, but from what I hear is that they are lenient. They dont check mileage. I would stay away from dealers who report mileage to carfax though.
 

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Wingless Wonder
1988 Esprit Turbo
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FWIW, our Condon-Skelly policy costs ~ $350 a year.

That's with full comprehensive and collision ($0 deductable), Stated Value $35,000 USD.
 

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The key is stated value. The big companies dont do that from my experience.

I have American Collectors and its like $250 a year. But stated value is low for my car and the miles are limited that I can drive. As you mentioned I cant take it to work which is not an issue for me. I dont recall the parking limitation...that is a little scary.

If you go through a standard insurance company and have a wreck I would be worried that they would depreciate the lotus like a Camry and give you $1800 and total the car for even a minor wreck.
 

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Discussion Starter #13
Erik, I'd double check your American Collectors insurance and make sure you have enough coverage!
I know I had to pay for the 'Premium' insurance package (double the cost), so that I could actually park the car away from my home. Crazy!
 

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I have AAA and have been fine with them although have had zero accidents. I like the stated value deal which I have my 49 Chevy panel truck hotrod.
I'll check out Condon-Skelly tomorrow on my Lotus.
Thanks
 

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Years ago I had just bought a fully restored Europa S2 (from Hayes). Had it delivered directly to the shop I had worked with, who declared it to be the nicest S2 they'd ever seen.

After they had it a week to go over it stem to stern, I picked it up from them on a Friday. The next day, a woman ran a light and hit me head on, totaling the Lotus.

It was covered by Allstate. The adjuster threw a ridiculous number at me...low. He pointed to a listing in Hemming's for a 1970 S2 that had been fully restored, cited it's asking price, and said "That's what a perfect one goes for, so yours would've been worth less." I said: "That IS my car." He said: "Yeah, it's the same year and model, but it's been restored." I said: "No, that IS my car. That's the ad for the car I bought."

He had only done a quick walk around my wrecked car. Had no clue what he was looking at. Admitted to not even looking into the interior and didn't even lift the engine cover. He would've seen an immaculate engine bay with an as new Renault engine and rebuilt trans/suspension/brakes. Also would've caught a glimpse of the powder coated frame.

He looked at me dumbfounded. The check that was cut was considerably larger than initially offered.
 
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The key to what you want is "Agreed Value". Without that they will "Blue Book" you and you get a fraction of what the car is really worth if it is totaled. To get agreed value you have to buy collector car insurance. To get collector insurance you generally can't use the car as a daily driver. The rules and prices vary greatly state-to-state. You really do have to call several companies and get quotes to figure out what you are getting and what it should cost. Some things to ask;
Is there a mileage restriction?
Is there an age restriction?
Is there any deductible?
Does the agreed value increase automatically every year?
Is towing covered, how much and under what conditions?
Does it have to be garaged?
You cannot compare yourself to anyone in another State because each State has it's different rules and that affects the pricing. Hagerty, Taylor, and Grundy are the big, well known collector car insurance companies but there are many to pick from.
If you still want to use the car as a D/D and you can't cover it with collector insurance, it will cost a lot more and if you total it you won't get it's full value. This is worse than it seems. If you only have a small accident, and it costs more to repair it than they say it's worth, they total it. This is a big reason why you don't see people using collector cars as daily drivers.
David Teitelbaum
 
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