Re: Classic Car Insurance

Posted by Peter Packard On 2007/12/4 3:05:31

G'day all, I agree with Randy not to undervalue the car however, you should be aware that some insurers offer more for the money than others. For example During the April 2007 National Packard Rally in Toowoomba (Queensland) no less than 5 Packards had to be trucked home, distances from 500 to 2,000 miles. Two of our major insurers have a policy which includes accomodation, hire car and return of your broken down car to your doorstep. The other three thought that they had that insurance but were advised that it was only after an accident, not a breakdown. This amounted to a few thousand dollars for the unfortunates who did not read the policy. I have changed my 7 policies for my Packards to one which provides the return AND YOU ALSO GET TO KEEP THE WRECK IF IT IS INVOLVED IN A TOTAL.
The cost to insure my 1935 Super Eight for $A40,000 was $A220.20. You guys may be getting ripped off as this includes recovery from 60 miles from home(including hire car and acccomodation). It also includes keeping the wreck if the car is totalled. This may have ramifications for you if you undervalue the car on a non-retention of wreck policy, if it gets totalled and they keep your wreck. Best Regards Peter Toet