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Triumph TR6 - Insurance

I have insurance from State Farm on my TR6. They have two types of policies:
1. Antique Car Insurance which is cheap (<$200) and offers full appraised value coverage in the event of total loss but has very tight restrictions on vehicle usage. I can only drive the car in "car club events" and in "parades". No thanks!

2. They also have ordinary drive-it-whenever-you-want (except to/from work) insurance which is about $200/year but the appraised value is only a consideration in the event of a total loss.

I have heard about "Silver Wheels" insurance which I think is available from any broker. I do not know who the underwriter is. This insurance, which I'm told is inexpensive, offers full appraised value and does not restrict usage as in number 1 above.

Anyone have experience with this option?

Ken
Ken Shaddock

1 Word

Hagerty. Check it out. Great customer service.
DON KELLY

Ken , I was speaking to Silver Wheels earlier this week. I was told by my broker that I should deal with them directly.

The rep. I was speaking to gave me a rate that was very reasonable.

Call them direct at 800-461-4099. They are located here in Ontario.
JOHN BRUNATTI

Thanks John. When you deal with State Farm there's no broker as you may know... only a SF agent selling SF products. I'll try the 1 800 # next week. Let me know what they tell you.
Ken
Ken Shaddock

Hi Ken,

I have my insurance through Silver Wheel and have so far been happy, but I haven't had to put in a claim yet. I too used to be with SF.

They do have the restriction about using the car for the "Hobby" only. No driving to work, or shopping or extended vacation.

Sylvain


S Demers

All this talk about insurance and driving restrictions has me wanting to make a comment on this subject.
Why did we buy/restore our cars? to drive them.
SOOOO why would one consider insurance that restricts our use. I have insurance on my car that covers insured replacement value as documented with an appraisal (done once every 5 years). I drive my TR when and where I want to. If I feel like taking the wife shopping or going to the local CDN Tire store,I do it. If I want to drive it to work, I do it. If I want to take it on a short vacation, I do it. Also if my to kids come home and ask to take the TR for a spin, no problem (they are both over 25. Seems the only restriction I have:).

I just took the collision off the 6 last Friday and will put it back on the end of April next year. So it is only covered for 6 months for collision. My total insurance bill is around $400.00 for the year.
I do not have to worry every time I go for a ride in my car thinking "gee, what will I say if I am in an accident"?
Yes I have heard of guys putting in a claim and having success on getting their cars repaired. The point is; if it is a serious accident then they DO have a way out (assuming you are driving the car when you should not be). It is kinda like gambling with car insurance.

One other neat little point for Ontario members. I have vanity plates. I scotch-tape my annual validation sticker on to my rear plate. I remove it when I take the collision off the car in the fall and take the sticker back to the licence office and get a 1/2 year refund on my validation sticker. My birthday is in May so I works out for me to just get my new sticker in late April. I end up only paying for 6 months which is basically our driving season. This is ONLY valid if you have vanity plates.
The end of my 2 cents worth.
Rick
Rick Crawford

I'm with you Rick and do the same and drive it when and where I want (except for the stickers as my birthday is Aug.)

Cheers
Pete

Pete Russell

I can drive when and where I want and it cost 200.00 a year with no deductibles
DON KELLY

Obviously Don you need to tell our American friends who you are insured with.

You have a GOOD deal. I assume replacement value?

Rick
Rick Crawford

I believe Silver Wheels enables you to do exactly that, drive where and when you want. I spoke to my broker and the only policy they could offer would be very restrictive.
JOHN BRUNATTI

John
I do beleive "the fine print" says you can only drive to and from sanctioned car club events. You can not drive it to the grocery store or to work. It can not be your daily driver.


I repeat myself."The point is; if it is a serious accident then they DO have a way out (assuming you are driving the car when you should not be). It is kinda like gambling with car insurance."

Rick

Rick Crawford

I just spoke with a Silver Wheels broker, Lant Insurance in Stouffville, and indeed there are restrictions. When I asked whether the restrictions were spelled out in the fine print the answer was something like...

Yes, in general terms but not in detail. There are too many variables to cover within people's opinions on collector car driving habits and we cannot cover / describe every scenario in print.

This for me would be a big concern... where opinion comes into play on what I was doing when the car got stolen or wrecked. Clearly, the car is not insured for to & from work, errands, shopping, or for driving to a friend's place for an overnighter. The big concern for the underwriter is theft when the car is unattended. It seems the underwriter will only insure the car if one is using the car for "typical" hobby purposes like the sunny day drive in the country, the club event, cruise nights, a parade, the day trip / picnic to a scenic place, etc.

Bottom line: If I wake up to a sunny day with a plan to pop into town and go to Home Depot & The Beer Store I cannot take the TR6 and expect to be insured. Like Rick says, we should be able to enjoy these cars whenever the notion comes along.

I'll have to did a little deeper if I'm to find a company that offers "19A" Full Replacement Coverage without vague & inhibiting restrictions.

Ken
Ken Shaddock

Read second post.
DON KELLY

Don
I beleive Hagerty is only available in the US.

Ken, we had Tony speak at one of our club meetings and I left with the feeling that the insurrer could tell the insured you are SOL.

Rick
Rick Crawford

Ken
I have insurance w/ ING. It costs me $112.00/yr. It covers up to 5,000 km / yr as long as I don't drive it to work. If I need more mileage for a special trip, it works out to something like $50.00 for another 5000kms. The rest of the coverage is pretty decent too. I don't have the agent's name here at work but check inginsurance.ca and see if there is any useful info on the website.

SID
Sid Turner

Bummer!
DON KELLY

I'm like Rick, mine's insured like a regular car as I take mine to work as a daily driver,home depot..the works...the extra few bucks is well worth for the enjoyment factor.
Somethimes I take collision off in the winter..depending when the weather turns bad determines how long I keep it on the road.
My little heater belts out the heat so I keep warm.

Charlie
Charlie B.

Charlie

DARN, I took the collision off a week to early!
Rick
Rick Crawford

This thread was discussed between 31/10/2008 and 06/11/2008

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