I added my '24 TT to my existing AAA auto insurance policy so I can take her on the road. Liability only, $500,000/person bodily injury. The cost is $202.00/year. I called them because they had her listed as a 2016 Model T. (I didn't even know Ford made a Model T in 2016!) and had it changed to a 1924 Model T. That saved me a few bucks. The annual cost for liability insurance is now $155.00!
It a few phone calls to get the insurance in the first place, and as with many things related to T's, modern business does not seem set up to take care of them.
I think $155/year for liability is fair, but I would like to know where other forum members get their insurance and approximate annual cost.
Hagerty. About the same cost as yours. Must be stored inside.
I was with J.C. Taylor for years. Heard good things about Hagerty from other members here, so checked them out. Glad I did, saved me quite a few bucks. I have '23 Touring/'24 Tudor, I increased values to $10,000 each, but went with a little lower liabilities than you, $50,000/$100,000 (because I have a seperate personal liability umbrella policy from State Farm) for around $200/yr. Convinced my uncle to switch and saved him a few bucks also. Can all be done easily on line.
I would also like to ad that classic car insurance companies pay out based on the value you set. Most regular insurance companies will pay out based on Blue Book/NADA/Edmunds values, which could be much less than what you may have invested.
(Message edited by lamacchia on September 07, 2016)
Your State Farm umbrella policy likely will not cover your Model TT unless the underlying insurance policy for it is also with State Farm.
Give th a call and check it out.
I have my TT with State Farm. It costs more than JC Taylor or Hagerty or....., but none of those guys want me carrying so much as a 2x4 in the back.
My State Farm umbrella policy definitely does cover me from lawsuits stemming from any crash involving my Model T's, even though they're insured through Hagerty. The classic car insurer must be a Class "A" insurance company, which Hagerty is.
I got turned down by Haggerty because I had three claims in one year on my Toyota's insurance with State Farm.
These three claims came from a guy at a carwash fixing rock chips for "free". He fixed three rock chips in ten minutes and filed three separate insurance claims with State Farm. Now my State Farm insurance has gone up and it has cost me more than if I had paid $150.- to get the windshield replaced completely and paid for it out of pocket.
Fortunately Taylor covered me for $120 a year and has so far paid off $4700.- for trailering damage to my T without a question.
I stand corrected, my liabilities limits are $250,000/$500,000, not the lower. Sorry for the error.
But, umbrella does still cover. They may not have covered under lower limits though.
My insurance actually dropped $9 per year when I added my '24 T to my policy. I guess we tend to be a low risk group.
I think this question gets asked at least once a week on a whole bunch of forums. Oddly enough, I seldom see the question that SHOULD be asked - who gives the best service!