In Process / Storage Insurance?

D

Dennis Jarrell

Senior Member
Anybody know if any of the classic car insurance companies offer coverage while the car is in build process or in storage?

Thanks,
Dennis
 
I would first look to see if it is covered under your garage insurance. You should have fire and theft of contents typ coverage. Basically the same as if someone stole your tools.
 
A friend lost his garage to fire while he was out of state. Included in the loss were several operable classic cars, many car parts, and one car lacking only it's dashboard and harness. His Auto insurance covered the operable cars, and his homeowners insurance covered the inoperable car after a brief explanation that the restoration had not been completed, and lacked a current licence. The car was therefore considered personal property under his homeowners policy.
 
ford38v8 said:
A friend lost his garage to fire while he was out of state. Included in the loss were several operable classic cars, many car parts, and one car lacking only it's dashboard and harness. His Auto insurance covered the operable cars, and his homeowners insurance covered the inoperable car after a brief explanation that the restoration had not been completed, and lacked a current licence. The car was therefore considered personal property under his homeowners policy.
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I wonder what company issues that kind of policy.
My homeowners policy says that a vehicle on wheels IS NOT covered.
 
While my 32 Tudor was being built in my shop, State Farm insured it for fire/theft. Cost was about $30.00/year. As soon as it was registered, that policy wasn't in effect and I had to get a regular auto policy. I used Grundy.
 
A common problem with these online insurance discussions is accuracy. Not all policies are the same, though many people comment as if they are. Requirements can differ from state to state and rarely are these provisions noted as location specific. An insurance policy is a contract, and one sentence can change the outcome.

That said, it is unusual for a homeowner policy to cover more than what is "typical" for a home owner garage, e.g. lawn mower, comparatively modest collection of tools, yardwork equipment, etc. The kind of "extra" tools and equipment we hobbyists have can be added as a rider, much as is done with "extraordinary" jewelery. The automobiles, and probably collectible parts, are often a different matter. I have my project roadster and a collection of higher value parts covered by Hagerty though my drivers are with Grundy. Grundy told me they wouldn't cover the project or parts. However, on another post last week someone claimed that Hagerty did theirs. That may be an erroneous belief, or may be the result of regulations in his state that are different from mine.

Whatever the beliefs, it would be prudent to check your specific policy in your particular location. This is one of those things where you can't rely on opinion or guessing.
 
I just got done getting insurance for my 39'. It is not driveable yet, so I just got "Comp", which covers, fire, theft etc... Once it is road worthy, I just call and add "liability" and I am good to go. I have State Farm, and have had quite a few old, ckassic, antique cars insured with no issues, and cheap rates.
 
Always best to list what you have and the coverage you want (fire, theft, flood whatever. Send it in writing and ask them if it is covered, if it is not ask if they can do a rider to cover it. Most companies will cover anything you want, you just need to be specific and willing to pay for it. Don't assume because it isn't under the standard policy, that it can't be covered.
 
I have a Hagerty policy that covers my projects and the parts that are sitting on the shelf in my garage. Bob
 
Dennis Jarrell said:
Anybody know if any of the classic car insurance companies offer coverage while the car is in build process or in storage?

Thanks,
Dennis
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Build process, yes Grundy.
Just storage, like the car is done but you only wanted limited coverage on it, no. Grundy and Hagerty's policies for full agreed value.

jim1932 said:
I would first look to see if it is covered under your garage insurance. You should have fire and theft of contents typ coverage. Basically the same as if someone stole your tools.
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Only vehicles used to maintain your property like a riding lawnmower or tractor are covered under homeowners. Cars, no matter the condition are not covered.

ford38v8 said:
A friend lost his garage to fire while he was out of state. Included in the loss were several operable classic cars, many car parts, and one car lacking only it's dashboard and harness. His Auto insurance covered the operable cars, and his homeowners insurance covered the inoperable car after a brief explanation that the restoration had not been completed, and lacked a current licence. The car was therefore considered personal property under his homeowners policy.
Click to expand...
I'm license to sell insurance in the of Michigan and I have never come across a homeowners policy that covered any inoperable cars, or cars period.

As boring as they are everyone should read their auto and homeowners policies in full and understand every paragraph AND if there is something you don't understand ask questions of your agent.
 
As there seems to be more than a few doubters of what I reported, you can all ask him yourselves: My friend whos homeowners policy covered his incomplete '41 Cadillac when his garage burned down is a former EFV8CA President. Those of you who know him will recall that he also lost his Continental and Zephyr in that fire.
 
Fire is my main concern. I recently had a shop fire and lost everything, 66 Plymouth Belvedere convertible that was done, a 29 Dodge coupe that was just about ready to paint, and my motorcycle. The coupe wasn't insured and my company also told me that they would only pay for $2500 worth of auto parts. I did find this in my policy after it was pointed out to me. They suggest that I purchase a commercial policy for an extra $1100 a year to cover extra parts and tools like my mill and lathe. Overall, the experience with the insurance companies during this was very good. I have a 35 Ford cabriolet that was in my Dad's garage that I want start working on and protect.

Thanks all for the info!!!
 
I've used J.C. Taylor for our antique auto insurance for the last 38 years. I have both finished as well as project cars/trucks covered on our policy.
 
I have 4 antique cars insured with Haggerty. One is a 27 Buick woodie wagon which I have had just comp on since buying it. Every once in while I increase the coverage as work goes along. i'm now at $20,000. No problem increasing the amount at any time. Just send a few pictures. Very helpfull people to deal with. good Luck
 
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