I know I am probably way over insured but am having an emotional issue. Have owned my Xj6 VP since it was 4 years old. Still have full coverage in US. Was recently told I should go liability only and put savings away for future repairs or damage? She is Jade so I am not even sure they could match the color.

I am a bit superstitious about doing that. I drive aroun DALLAS abou 8 times a month. No long trips over an hour. 167000 miles.
What is everyone else doing? Thoughts?

 

Oh! 1996 XJ6 VP. Sorry am new to forum

 

For a regular car of that age if it's in a collision it will just get written off most likely. If you're not driving it to work and qualify for collector car insurance, take a look at Hagarty. You can get an agreed value policy, so then the car isn't subject to black book price if it is ever a total loss.

 

Thanks! What is Hagarty?

 

Thanks! What is Hagarty?

 

https://www.hagerty.com/insurance

They specialise in insurance for collector cars. That's why I said if it isn't being used for regular commuting, but rather as an occasional pleasure use car Hagarty may be a good insurer.

 

Indeed. Check out collector car insurance. Hagerty is only one. I use JC Taylor, but a lot of people use Hagerty, Grundy or American Collectors and they're all good. The only downside is that its not to be used for commuting or errands. The idea is that collector cars are only driven for pleasure, in nice weather, usually on weekends and are kept in a garage, thus the risk is very low and the rates are much less than regular insurance. There are usually restrictions. Some give you an annual mileage limit, but sounds like that's not an issue for you. You must have another insured daily driver and you must keep the Jaguar in a garage. Most all tho have the one killer that separates pleasure use from regular use, that you can't leave the car parked unattended in public. I.e. if it gets hit by a runaway grocery cart, that's not covered. If you get in a wreck on a Monday morning, on the freeway, during a rainstorm, that's probably not going to be covered either unless you can get your mechanic to write out an affidavit swearing that you had an appointment to drop it off for service that particular morning. About the only place you can get away with parking in public is a restaurant or hotel. The reason is that you're allowed to travel for car shows or car club events and its considered reasonable to stop to eat and sleep. But if anything happens while just driving it around in decent weather, you just tell them you were out for a pleasure cruise.

But the key language to look for is you want an "agreed value" policy. That is where you establish up front the value of the car today and if its irreparably damaged, that's how much you get. There's also something called "stated value" insurance which sounds good but is basically a legal trick in the contract language wherein you get to tell them what you think your car is worth but its only used to establish the premiums you'll pay and they still get to reimburse you "book" value in the event of a total loss. Be on guard and don't fall for that. But as a classic, I'll bet you could insure it for $10,000 - $15,000 full coverage for about what Geico would charge you for liability only.

 

I have 2 cars with Hagarty and their restriction on use was "use consistent with a classic car". So going to a show is fine (no matter how far away it is, they don't have a mileage limit), but using it as an Uber or as a pizza delivery service is not ok. They did say they want you to use your car, which is why they don't have a mileage limit, but not as a regular communter.

I don't know if it;s the same in the US, but in Canada the endorsement you want is 19A. That's the agreed value policy. So up front you say you want the car insured for $XXX, and if the car is a total loss they pay $XXX. Their premiums are simply based on value, they have a table of premiums; if a car is valued at $X, the premium is $Y. It's a simple scale, doesn't matter the make or model.