Hagerty Insurance for Younger Clients

[557B210]

I was able to insure my first Classic, when I was only 16

[crash1068]

Originally Posted by Dragsix

Heacock is what I have. I think its 25 or 26, I don't remember off hand. If you want to insure them at a younger age, they have a kicker, 30% or something like that. Really makes it unaffordable for a young person. I said to the Heacock rep, my boys helped me rebuild this car over the course of a few years. Without them, I could not have gotten it done and now they cant even drive the thing without being hit with a premium for insurance. The answer was yes. Fooey! Horsehockey! Bull Puckey! What a load of you know what. Those boys are way more careful with the car then I am, lol.

So I ended up teaching my youngest how to drive the car in a private parking lot, get his sea legs with the old school four speed, and then let him run the car down the dragstrip at this year's Nationals. This will have to do until he hits 25. No way can I give time with my boys and the car up. So I understand your complaint and 100 percent agree. It stinks, plain and simple.

So I will take whatever opportunity I can get whenever I can get it.

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Is the insurance with the 'new driver' premium any more than the insurance adder for your normal policy? I was always under the impression from talking to insurance companies that you insure every legal driver in the household? For instance, I can't eliminate my kids from my policy that has my modern Challenger even though they drive a beat up pick up with liability only. I know that the collector cars is a different policy...

[Dragsix]

David, nope, he did great and the smile after he made his first pass was priceless (and I was allowed to be in the car when he did it, lol).

On the insurance question, no, my understanding from heacock was that there was the added driver increase, then the age kicker on top of that.

[crash1068]

Just for the benefit of others... Here is where I ended up with wanting my kids to be able to drive a classic car some. The typical classic car insurance companies required 5-10yrs of driving experience with nothing on their record plus a premium. I was fine with a premium, but wanted my kids to experience classic cars before they were 26 and in college.

So my standard insurance company would insure a classic car, but not with an assigned value. Basically, blue book and for a very small amount I could add 20% to the replacement value. The problem here is that my classic cars are worth many times more than the blue book. I ended up buying an in expensive 65 mustang to work on and allow my kids to drive. The insurance doesn't cover it's full value completely, but much more closely. The insurance wasn't very expensive (because it doesn't cover a lot) through my regular auto insurance company. This way, there is a car that they can drive, work on with me and in the end it will still be worth what we have into it. We chose the mustang because they liked it, it was relatively inexpensive for a classic and parts were very plentiful if something happened and I chose to 'self insure'.

Kinda sucks that it's so difficult to let your kid drive a car once in a while, but this worked for us. And, I got another old car ; )

[busterwivell]

My son in law and I were just talking about this while at the Good Guys show this weekend. My Grandson has his heart set on an El Camino (sorry, not a tri-five). He's going to be 12 on Sunday. I've told him I'll help him build a car, but I won't build it for him, he has to have skin in the game. While we were talking, the subject of insurance came up. We pretty much decided his first El Camino should be of the 70's/80's variety and insured with liability only. I don't see any way around the age thing.