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ctdub

All-American
Dec 11, 2003
14,313
5,513
112
So I just finished having an older vehicle completely restored and modified to use as a daily driver, but was unaware prior to sinking a bunch of money into that it is difficult (maybe impossible) to insure a "daily driver" for what it cost. You can get classic or collectors car insurance on an agreed value, but you are limited to the Miles you can put on it. If I insure through my farmers policy they won't cover the actual cost of it's stolen or totaled. I'm not sure I want to take on that much risk on my own.

Does anyone know of an insurer that plays in this area? I've come to a dead end. Tried farmers, progressive, st farm, hagerty, Grundy, Chubb..... I need a daily driver policy at an agreed value with unlimited annual miles.
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Orange Jennyslipper

All-Conference
Jan 4, 2005
9,673
2,021
0
Great question. We are in the exact same situation. I knew it would be tough, or at least expensive, but I hadn't anticipated "impossible."

Farmers told us a year ago it wouldn't be a problem -- just figure out the value, and they'll insure it for a price. I didn't ask how they calculate premiums. I plan on asking tomorrow.
 
gipraw

gipraw

All-Conference
Aug 10, 2003
17,032
3,953
113
Hagerty has no mileage limit, but daily driving can be an issue. Grundy does agreed value coverage for daily drivers. Not sure how cost effective it is, but they do offer it. Believe it is called their MVP coverage.

Since my toys are not daily drivers, they have always been with Hagerty.
 
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ctdub

All-American
Dec 11, 2003
14,313
5,513
112
Yeah, Grundy was who my farmers agent set me up with, but their mvp policy requires that you have at least 2 classic/collectibles, I will only have 1. So that's a no go. I guess I'm probably going to have to turnaround and sell this thing.
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gipraw

gipraw

All-Conference
Aug 10, 2003
17,032
3,953
113
I am pretty sure Grundy requires two vehicles for the MVP plan, but they do not have to both be collector cars. Call Grundy and talk to them directly. Your Farmer's agent isn't going to tell you Grundy will cover the car if you move all your vehicles to them.
 
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russgoodman

Junior
Mar 31, 2007
1,000
255
0
I'm with Gipraw, call Grundy personally. My 3 thru Grundy are not daily drivers either so I'm not 100% sure, but I thought I'd heard about it in a newsletter or something.

Oh, and pics...
 
C

ctdub

All-American
Dec 11, 2003
14,313
5,513
112
Thanks, Gip. That means a lot coming from you.

I did talk to the Grundy rep. The 3 cars includes my wife's car, so we would need 3 total in our household since we have 2 liscenced drivers. Talked to a State Farm rep and they are going to look into Lloyds of London and see what it would cost for them to cover some risk. Amica only does cash value policy.
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