classic elan; insurance and registration, help!

[RodMcIntyre1]

Hi all,

I just got a beautiful new 1969 Elan (it looks new). I wish to
insure and register the car here in NJ. Rather than face the
limitations imposed by a classic car insurance policy i chose to
insure it with standard policy for comp and collision. However, the
Geico people are vague about what they would cover in the event of a
total loss (or theft). On one hand they say the figure would be
calculated based on the depreciated value of the original purchase
price and not figure in any value based on the fact that it is a
collectible (bad for me). On the other hand they also say that it is
essentially the current market value of the car (good for me). Then
they say that they wont be able to tell me ahead of time what that
will be.
So Im worried about her getting stolen. Do people mess with cars like
this? My 67 Volvo happily motors through life unmolested, but the
Lotus is quite a bit cuter, and may be more inviting to potential joy
riders.

So without classic car insurance, I fear I must face the perils of
getting her to pass state inspections (does not have the cross over
emissions tubes). Has anyone passed emissions on a twink with
stombergs? I heard the standards are not so stringent on older cars,
guess there is only one way to find out.....

Thanks in advance for your help, looking forward to sharing stories
with you and meeting up.

best

Frank

[M100]

On Mon, 18 Apr 2005 16:06:44 -0000, "trdr_gonzo" <***@***.***>
wrote:


What limitations do you mean, mileage? Its a damn sight more
comforting to limit your mileage - the car might limit itself <vbg>
and know you are going to be properly compensated (and usually get the
remains of the car for salvage price) than get paid out some
mainstream insurers idea of value (literally peanuts) and lose the car
as well.

Martin

72/45
--

[jkyle1 at rochester.rr.co]

Hagerty doesn't limit mileage. I've had my Elan insured through they since I bought it (about five years ago), no complaints whatsoever. I pay ~$150/year for something like $15-16k agreed value.

At the time I was researching, the other collector-car insurance companies all limited mileage (or specified car show only - forget it!), though they were about $20 cheaper per year.

[Elan45]

I believe w/ Lotus Ltd policy w/ Parrish Heacock, you can have a higher mileage than the cheaper 3500 annual limit, it just costs more. Why bother having any insurance on the vehicle at all, if it is worthless when needed.

I'd be scared stiff w/ some cut rate company like you've chosen. Even 5-8 years ago I had to almost take them to court over an accident caused by their insured when she rear-ended my wife's 944. After I wrote to the state insurance bureau they were falling all over themselves to make me happy, but it took over 2 years to get some satisfaction.

Roger


On Mon, 18 Apr 2005 16:06:44 -0000, "trdr_gonzo" <***@***.***>
wrote:


What limitations do you mean, mileage? Its a damn sight more
comforting to limit your mileage - the car might limit itself <vbg>
and know you are going to be properly compensated (and usually get the
remains of the car for salvage price) than get paid out some
mainstream insurers idea of value (literally peanuts) and lose the car
as well.

Martin

72/45
--






















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[BenL]

On 4/18/05, trdr_gonzo <***@***.***> wrote:


The main limitations of my insurance policy for classic cars is the
number of miles and that I keep it in a locked garage when I'm not
driving it.

If your insurance agent can't help you find a good policy, I suggest
finding another insurance agent.

Here are a couple of links for insurance companies who provide
policies for classic cars.

http://www.hagerty.com/
http://www.condonskelly.com/
http://www.parishheacock.com/
http://www.grundy.com/

---Ben

[poiuyt]

Unless you are planning to use the car as a daily driver and commuter
car, go with Grundy (grundy.com). There is no mileage limit - only a
limit on who can drive (no one under 25) and that you do not use it
as a commuter/errand car. They don't care if you drive it on
weekends, go for evening drives, etc. and they insure it for stated
value with no deductible. Coste me about $360 per year for a stated
value of $24K.

I'm in New York (Long Island) and they don't measure emissions on
cars over 25 years old. Maybe Jersey doesn't either.

Steve B.



--- In ***@***.***, "trdr_gonzo" <noruz@h...> wrote:

[RodMcIntyre1]

Hi Steve,

Two things that keep me from getting classic car insurance are my
driving record and lack of a garage. Both will be fixed by the
winter - the tickets will be 3+ years old and I will have a garage.
But until then i'm stuck

Frank


--- In ***@***.***, "Steve B" <mygti@o...> wrote:

[denicholls2]

One of the common misconceptions people on these lists have is that
driving restrictions are a factor of the insurer. While in states with
competitive insurance this may well be the case, there are a
significant number of states that have "socialized" automobile
insurance. Massachusetts is one of them. New Jersey may be as well.

I'm surprised that Ben posted the below, as I believe he is also from
the People's Republic of Massachusetts. When I insured Matilda
(through Grundy) it was on the STATE form that I was required to attest
that I would abide both the mileage restriction (which at 3,000 miles
isn't much of a factor) and that I would only drive the car for club
events, on weekends and holidays, and with "special exceptions" for
test drives and to/from repairs.

In Massachusetts at least, your ability to drive on weekdays is
constrained by how far you are willing to bend the special exceptions.
I have found that many people on these lists seem to have signed this
paperwork without paying much attention to it. I suspect that getting
caught out commuting on a weekday may well have expensive ramifications
up to and including finding you are not covered, unless the accident
occurs very close to home. I try to be good.

Because I don't like this constraint, which is one most states don't
have, I've tasked my agent with coming up with a standard policy with
agreed value. This is the second time around and I haven't heard back
yet, but it's only been a week or so... Note that he doesn't have this
business now, so should have an incentive to write it...

If he does find one, the rates will jump from $160 at $10,000 agreed
value to something well above $500. That's for a pristine driving
record and with a multicar discount in place. Welcome to the cost
savings guaranteed by socialized insurance!

Doug Nicholls, 54/1822 Ma~

[Rob_LaMoreaux]

The restrictions placed by the insurer and by the state are not the same.

Many classic car insurance companies will restrict the miles, some won't,
but most do not require that the car be registered as a historic vehicle. I
have Hagerty and as such I do not have to have the car registered as an
historic vehicle with the state restrictions on use, but Hagerty does
restrict daily use for their coverage. Because my car is registered with
historic plates I do have the state restrictions (for use to a from shows
and club events), but then I only had to pay $35 once to register the car
for life, and I don't have to pay the state required insurance fee which
this year is something like $80.

Of course my friends and family are club members so most of my driving of
the Elan is for club events and the only ones in Michigan pulled over for
driving too much with classic plates were going past the same cop every day
for a week.

So to say you have to register the car with the state as a classic or
historic seldom driven car to get classic insurance is not true. It helps
but I am sure the classic car insurance company will sell you a policy even
if your car is not registered as an historic car, although it may cost you
more per year.

Rob LaMoreaux
Ann Arbor, MI USA
(734)-971-5583
Cell (734)-604-9280
Email: ***@***.***
Too many Hobbies.... Too Little Time
1969 Lotus Elan....It's not a restoration, it's a never-ending adventure.

[garyeanderson]

Hi Doug
This sound like the restrictions placed on antique plates by the
Commonwealth of Massachusetts RMV, not what is required by the
insurer. I have a 5000 mile limit on my Elan that give a 10% discount
(BFD) by Met Life insurance with normal RMV plates. My Elan does not
see that but no one checks anyway.

Gary Anderson
--- In ***@***.***, "denicholls2" <dnicholls@k...>
wrote:

[Jeff Kyle]

rob_lamoreaux wrote:

They do not, or at least did not a few years ago and they haven't put
any new restrictions on my insurance.

Unless you mean that they don't want you to use it any day - but I
specifically went with Hagerty because they clearly told me that there
was not a hard and fast mileage restriction and that they had no problem
with me driving the car to work occasionally, etc. I did have to send
them proof of a "normal" car that I was driving regularly, but that was
it. (Well, plus pictures but that's normal.)

[denicholls2]

My earlier post applies here. All states are NOT the same.

Not true in Michigan; I trust you've done your homework. Definitely
true in Massachusetts. I've done mine.

Doug Nicholls, 54/1822 Ma~

-----Original Message-----
From: rob_lamoreaux [mailto:***@***.***
Sent: Tuesday, April 19, 2005 7:00 PM
To: ***@***.***; Nicholls, Doug
Subject: RE: [LotusElan.net] classic elan; insurance and registration,
help!

The restrictions placed by the insurer and by the state are not the
same.

Many classic car insurance companies will restrict the miles, some
won't,
but most do not require that the car be registered as a historic
vehicle. I
have Hagerty and as such I do not have to have the car registered as an
historic vehicle with the state restrictions on use, but Hagerty does
restrict daily use for their coverage. Because my car is registered with
historic plates I do have the state restrictions (for use to a from
shows
and club events), but then I only had to pay $35 once to register the
car
for life, and I don't have to pay the state required insurance fee which
this year is something like $80.

Of course my friends and family are club members so most of my driving
of
the Elan is for club events and the only ones in Michigan pulled over
for
driving too much with classic plates were going past the same cop every
day
for a week.

So to say you have to register the car with the state as a classic or
historic seldom driven car to get classic insurance is not true. It
helps
but I am sure the classic car insurance company will sell you a policy
even
if your car is not registered as an historic car, although it may cost
you
more per year.

Rob LaMoreaux
Ann Arbor, MI USA
(734)-971-5583
Cell (734)-604-9280
Email: ***@***.***
Too many Hobbies.... Too Little Time
1969 Lotus Elan....It's not a restoration, it's a never-ending
adventure.

[Rob_LaMoreaux]

So Hagerty and such will not right you a policy in MA without the car being
registered as a classic/historic vehicle? That sucks, and seems really weird
to me that an insurance company would really care or that the state wouldn't
allow you to insure the car through Hagerty or such unless it was titled as
a classic/historic vehicle.

Bummer.

Rob LaMoreaux

MTS Systems Corp.
Powertrain technology Division
4622 Runway Blvd.
Ann Arbor, MI 48108
734-822-9696
Fax 734-973-1103
Main Desk 734-973-1111
www.mtspt.com
Work email: ***@***.***
Home email: ***@***.***