Who Insures Classic Cars

Who Insures Classic Cars: Leland West

One company that offers classic car insurance is Leland West. This company was founded by a Porsche owner who was tired of paying too much for insurance. What started as insurance for Porsches only, expanded in 1995 to include coverage for all types of vehicles.

Leland West offers agreed amounts coverage. If an accident happens, they will pay the lesser of, the agreed amount or the cost to repair.

Insurance is only available for limited-use drivers. Daily-use insurance is not provided. Plans are available for full coverage only, meaning liability, uninsured motorist, property damage, etc.

Coverage is available in all states with the following exceptions:

• No coverage available in Alaska, Washington DC, Hawaii, South Carolina, South Dakota and Vermont.
• For North Carolina and Massachusetts residents, only comprehensive and collision is available.

Leland West allows you to get a quote online, and you can buy the policy online as well.

American Collectors Insurance

This company has been in business for over 30 years. Their insurance policies are underwritten by American Bankers Insurance Company of Florida, for all states except Minnesota. The American Bankers company has been in business since 1947 and has an “A” rating by A.M. Best.

One special program they offer is called the TLC plan (Towing and Labor for Collectors). In addition to the standard towing and roadside assistance, the plan provides these additional protections:

• Emergency Lockout
• Lost Key Return
• Emergency Travel Expense (covers meals and lodging if you break down away from home)
• Car Show Expense (Reimburses your car show fees and hotel if you miss an event)
• Theft Reward (Offers a reward to whomever finds your car if it is stolen)
• Personal Effects (Reimbursent for items stolen out of the car)

Free quotes are available on the American Collectors Insurance Web site.

Grundy Worldwide

Grundy has been in business for over 60 years. If you have a large collection, Grundy offers an all-in-one policy which provides protection for all of your vehicles, up to 999 of them. You must have, however, a minimum of five vehicles and a minimum $10,000 premium per year.

Grundy is associated with AIG Private Client group. Claims service is provided by AIG. The following types of vehicles are insurable:

• Collector cars
• Exotic cars
• Motorcycles
• Motor Homes
• Coaches
• Trailers
• Service Vehicles
• Golf Carts

Visit the Grundy Web site to get a quote.

Hagerty

Hagerty specialty auto insurance is underwritten by Encompass, which is a very large insurance company. The people who create the policies also own classic cars. Some of the policy features include:

• Low cost insurance. Some of their rates are much lower than competitors.
• Agreed value coverage
• No deductible (except on cars from 1987 or newer)
• Pay Liability just once. Pay liability on just one car, no matter how many you own.
• Flexible use. The policy allows you to enjoy the occasional drive around town.
• Claims are handled by Hagerty, not a third-party.
• Auto show medical coverage. If you or a family member is hurt at an auto show, you will have some medical coverage.

Another feature of Hagerty is the opportunity to join Hagerty Plus, one of the largest collector car groups in the country. In addition to emergency roadside assistance, you also receive:

• Informational resources
• Magazine subscription
• Collectors foundation

Conclusion

There are many companies who insure classic cars. Start by investigating these companies and continue until you find one that meets your needs.