Probably much like many feature car owners, I haveÂ come to the realization that the book value of my car is less thanÂ what it would cost to replace the car. That has moved me to reconsiderÂ my traditional auto insurance policy. The only option my currentÂ insurance provider has available is to allow me to drop the coverageÂ on my car (for a period of at least 30 days) while I have my car off the road during the winter months. I don’t like that optionÂ and am looking to both get better coverage for the actual valueÂ of my car and get a reduction in cost because it is a third carÂ in a two driver household and gets driven about 2,000 miles a year.
I am aware of several carriers like HagertyÂ and Â Grundy that provide specialty car insurance. Some won’t coverÂ my car since it is less than 15 (or 20) years old. Some are tooÂ restrictive about use (never overnight away from its primary lockedÂ garage). My driving will be pleasure only (never used for a workÂ commute), less that 2,500 miles a year, possibly it might be keptÂ away from home overnight (although it never has) otherwise it willÂ be kept in a locked garage. I have talked with a local appraiserÂ and he said that I may not need an appraisal depending on the insuranceÂ carrier. Right now Leland West is the front runner in my consideration.
If you are using a specialty insurance carrier and/or have a statedÂ value policy on a Mustang like mine please let me know your thoughtsÂ and experiences. Please contact me andÂ once I decide what to do, I will post my findings here for all otherÂ owners to use as a reference.