Classic car insurance

[SteveH]

I'm going to buy a diesel Mercedes to keep the 02 off the road (most of the time) when I'm at school. I need something to commute, absorb salt, and take me all over the country.

There is no way I can afford to insure both cars...

How much am I looking to pay for classic car insurance?

How does everyone register the car? As a classic? How do you get around the "3000 mile/yr rule?" Anything else I should know?

I'm located in New Jersey. Thanks

[Vroomer]

Not expirenced in this, but depending on your company, it could be as low as 2,500 miles a year. And with my company, that's the first question they ask.

~Vroomer

[B-Doon]

Some policies have a storage clause you can invoke. What this means is you call your agent and drop all coverage on the 02 except comprehensive(fire/theft/vandalism) for the months you aren't using it. You must remember to call your agent/broker when you want to drive it as you won't be covered for liability. It can help save you some green... Lot's of RV'ers do this when they have ther $100k RV's in storage for the winter months.

Brian

[albertamac]

I have my 02 insured under a branch of ING in Canada, not sure what they offer in the US, but worth checking out.

I have a 5000 km/year limit with an option to purchase additional holiday mileage if needed. Good coverage, but stipulating driver must be 25 or over, and the car needs to be parked indoors "most" nights.

Funny thing is I pay $98 per year, and get a 10% discount on my other vehicle for having a second car insured which was a $150 discount so I actually got money back after I put my 02 on the policy... sounds too good to be true, but I'm sure not going to say anything....

Mac

[SteveH]

I keep hearing about the 3000 mile rule, but the car doesn't need to be inspected, so how would they ever know?

[f1reverb]

for automobile insurance is a crime, and if caught in misrepresentation you can find your policy rescinded and all your money returned as if you never had the insurance in the first place (aside from the possibility of criminal prosecution). Nice thing to have happen in the event of a claim when you need the insurance. You do have to give the insurance company your odometer reading, and periodically they collect new readings. Unless you are strong enough to never confess when beaten with a rubber-hose, tell the truth and you'll never get caught in a lie. Never assume insurance companies don't think about fraud.

[SteveH]

...I didn't think of the company actually checking the odo.

Thanks for the info everyone. I'll have to check with my insurance company and see what they say. Maybe I can buy some extra mileage. I think I put something like 10,000 miles on it last year

[Paul7002]

(nt)

[Sam_in_VA]

Do a google search, there are quite a few out there. Most have a meleage limit and restrictions on where you drive (e.g. not to work). the other consideration (which might apply to you since you are in school) is that most won't allow drivers under 25. Some even require at least 10 years driving experience.