Average cost of Auto Insurance...

[EscapeCalifornia]

Originally Posted by CALGUY

Something I don't understand is how classic car insurance cost so much less than a regular vehicle.
Case in point.
I have a 2003 Dakota pickup, with full coverage, with 21st century. The price is $1016.00 for a year with a $500 deductible.
My 1966 Thunderbird is insured through a classic car insurance company, with an agreed value of $25000.00, meaning if the vehicle is a total loss, they pay me the $25000.00.
Full coverage with a $500.00 deductible, and it only cost $212.00 for the year. (that is not a typo, that is the correct amount)
The only stipulations are, it be parked in a garage when not used, and a limit of 5000 miles a year.
Hell, I have had it about a year and a half now, and have only put 3000 miles on it, so the mileage limitation doesn't bother me at all.
Looks like my classic insurer is being fair, and charging what it should be charging, while the insurer for the Dakota is taking me to the cleaners.
Tough to understand how one can charge so little, and one an outrageous amount.
Bob.

I'm sure it all based on claims experience. Mileage is a big factor. I'll also bet that the typical classic car owner (assuming its not their daily driver) is careful about when and where they drive it and where they park it. A car that's garaged and lightly driven is much less likely to be damaged than one that's on the road every day, being left in dark parking lots, parked on the street, etc.

[greggd1]

I think the classic car programs have other stipulations such as there needs to be a 2nd car in the household that is used as daily transportion, and the classic is not be be used to go to and from work.