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MG TD TF 1500 - American Collectors Insurance,,,any experience?

While renewing my regular vehicle insurance through AAA, I learned of American Collectors Insurance (http://www.americancollectorsins.com). I requested a quote for my 1952 MG TD. They provide Agreed Value Coverage (I specified $20,000) and allow pleasure driving.

Unusual in Massachusetts, this company writes Liability coverage, not just Comprehensive and Collision. Deductible for Comprehensive is $300; for Collision there is no deductible.

For 100,000/$300,000 Liability coverage and driving 2,500 miles or fewer per year, the cost is $143 per year. (They also have a fewer than 5,000 miles per year rate.)

Does anyone have any experience with American Collectors Insurance? Since this is offered through AAA, I expect it to be a respectable outfit.

Thanks.

Larry
Larry Shoer

I have them also, but I have not had any reason to make a claim.

Larry
L Karpman

Larry,
The only questionable thing I saw in their web site was

"Having at least one "regular" vehicle for every licensed driver in the household"

SPW
Steve Wincze

Steve, I would just interpret this as an effort on the Insurance Company's part to assure that the car is not actually used as a regular driver.
Dallas
Dallas Congleton

I also have three children aged 16 to 22. I am required to submit a form indicating that they will not drive the TD. That leaves my wife and me and three cars, including the TD.

Dallas is right. Most all of these companies want to make sure the classic vehicle is not used as a daily driver, which mine is not.

Larry
Larry Shoer

Lant's 'Silver Wheels' policy is the same up here... no limitations other then it not be a daily driver and no one under 25 drives it! I let them know when i'm taking it out of country (Gatlinburg last year) or on long, long runs. Other then that its pretty open... $168.00 a year based on appraised value (you have to have it appraised by a registered appraiser). Great company!
gblawson - TD#27667

I have had American Collectors for over 25 years covering 2-3 classic cars and an enclosed trailer. I have needed them three times over that period..two accidents and a car lost to fire. The claim for car lost to fire was paid at the agreed value with no problem (they own the car and will generally ask the owner if they wish to make and offer for it...I declined). The other two claims were paid and I was permitted to use my own shop for repair and they allowed for things like replacement of both front parking lights and headlight trim rings even though one side was undamaged so they would match. Never a hassle and no deductible. Highly recommended.
Frank

My insurance was under Condon & Skelly before I started my restoration, at an agreed value of $8k (what I had paid for the car). They also wanted to know that there were cars for everyone in the household, and most of the time there were. The one area I took my risk was in allowing my teenaged sons to drive the car (They were technically excluded). They both have many wonderful memories of sharing the car with their friends, driving it on outings, most every bit within a five mile radius of the house. I figured I was going to restore it someday, and anything they broke was fixable, with or without insurance. I smile a bit when I hear about tall forum members having trouble with the TD... the oldest is 6'5" and the youngest 6'3", they fit fine.

Condon & Skelly allowed occasional use, and wanted to know if I planned on driving the car more than 2500 miles in a year, which I never did.

Interestingly enough, I checked with my current household insurance about the car in case I had a fire or something while under restoration, and they basically said, once the engine is mounted on the chassis it is no longer a collection of parts, and can only be insured as an auto. Right now, I have no insurance on the project, but I should look into that.

warmly,
dave
Dave Braun

Dave,

I have used Condon & Skelly for Comprehensive and Collision for years. My regular auto insurance carrier is used for Liability portion for the TD, because Massachusetts is one of the few states in which Condon & Skelly cannot write Liability coverage.

It may be interesting to the Massachusetts readers of this board, as well as those in a few other states, to learn that a single carrier, American Collectors Insurance, can provide Comprehesive, Collision, and Liability in a package that is attractive and more cost-effective than the two-company coverage I have been using or simply insuring with your regular auto insurance company.

Larry
Larry Shoer

Correction:

The quote I mentioned accidentally omitted Collision coverage. With Collision ($300 deductible) the total annual premium is $187 per year (Massachusetts).

Interestingly, and unlike my regular vehicle insurance, moving to the lowest deductibles ($300) only increases the annual cost by a couple of dollars.

Larry
Larry Shoer

I wanted my kids to be able to drive the car so I got regular insurance with USAA. Since I don't keep it insured during the winter, It cost less than $180/year. Now I get to rebuild the gear box every year as I teach the kids how to drive it.
Russ Oakley

I use the old original J C Taylor insurance since 73. Finally had a claim two years ago. A rock cracked the windshield and put a ding on the bottom of the chrome strip on windshield. To make all the chrome match, they allowed me to get the entire windshield and mounting brackets top show plated, and of course the glass at a cost of $1,700. So yes I endorse them. They also gave me a Canada ins paper and said it was ok when I took the car on the 4,000 mile or so Newfoundland trip.

Keith
Keith Murphy

Was that to the 'TARGA'?
gblawson - TD#27667

Russ: I just got my 40 year sticker from USAA. Been with them since I was in Officer school in 1966. I am, for the first time, seeing a change in the company for the worse. No one knows anything!! While they do have a deal with a collector insurance agency, I wanted to insure mine as a semi-daily driver under my USAA policy. While they will not negotiate "agreed value" all I wanted from them was the book, or formula they would use to determine value in the event of the loss. Numerous phone calls later, no one can tell me. There is plenty of information out there for a major company like USAA to garner this information. very frustrating.

If you don't mind me asking, did you ever get this type of info from them for your MG, or are you just hoping for the best in the vent of a claim?

Cheers

Larry
L Karpman

Larry, I only have it insured for liability. I figured if I crashed it, I'd be the one fixing it. If it was totaled I could part it out and likely get as much out of it as I'd get from an insurance company. Theft is my biggest concern. I use a steering wheel bar. Have a hidden fuel pump switch and if I leave it long I reverse the 1 and 2 plug wires. Fortunately, I think it would be difficult but not impossible to resell it locally and groups like this BBS keep an eye out for suspicious parts. I found the person I talked to at USAA helpful but they don't like to provide collision on classic cars. They refer you to American Collector's and you have to live with their restrictions.
Russ Oakley

Interesting read about this same topic...gives some leads to insurance companies not normally contacted:

http://www.jalopyjournal.com/forum/showthread.php?t=181187&showall=1

By the way, all though this is 'hot rod' related there are always interesting topics to read...one of the best sites I've ever found to kill hours and hours on the computer with when I don't feel like doing something worthwhile.

Gene

Gene Gillam

This thread was discussed between 04/05/2007 and 09/05/2007

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