Back in the saddle...

Hey Gang,

This past weekend I rescued this Speedster from Pahoa on the Big Island of Hawaii.  The people who previously owned it are moving because of the volcanic activity we have been having lately in the Puna district.  Its funny because this car looks sort of like my old IM Convertible D, similar color and all!  I just got her cleaned and mechanically sorted out, just have to change out those 8 spoke Empi wheels!

As I mentioned, there is lava activity in an isolated area on our island.  Because of this I have been having a hard time acquiring "stated value" classic car insurance.  I have policies for my other cars with both Grundy & Hagerty but now both companies have a moratorium on writing new policies.  I even checked with the local State Farm agent and he said the same thing.  I could go with my regular auto insurance (Farmers) but will not be covered for "stated value."  If any of you have some ideas of companies that may offer coverage in the islands, please let me know.  BTW, I live in Hilo which is over 20 miles form the lava activity and am in no danger...

Aloha & Mahalo, Donn

Speedster

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Original Post

Very sorry to hear about our brothers on the Big Island suffering thru this very unfortunate crisis.....will probably find it very difficult to get AGREED VALUE as the guys above suggest. Might want to park it or do farmer's for a few months and minimize the drive to protect the car. I certainly HOPE that you are in NO danger, but insurance companies, like all others, are into MAKING money, approaching certainty from an actuarial standpoint and the BIG ISLAND is off the books......will likely last as long as the steam/lava flows. BE SAFE

A form 19A is what Hagerty will give you but a regular insurance form 19 will still give you protection albeit with depreciation which if proven value with a recent purchase price can still be adequate if you want to make your car a daily driver and you bought it used.  Even if you bought it new.  

If you did buy it used or new the insurance company would still have to do market research to find out the true cost of repairing or replacing for an equivalent car.  So while it might be a PITN-A to deal with the adjuster and the insurance and you might have to wait for your settlement it might be worth it.  If a company takes you on they have to do due diligence when they have to pay out... it is just more trouble than an agreed upon value 19A Hagerty... cut me a cheque for X $... especially for a used car if and the premium can be quite a saving...  Finally, you still have to get a regular insurance to agree to insure the car. 

Hey Donn........I love your Empi 8 spokes !  They are so totally old and not used by very many people that I have had some people asking me where to buy them now ! They are light weight and have the right offset to allow 185s to be mounted. If you watch a car go by that has them, they look like mag spoke wheels should. Not just a flash like a chrome disc would.

I have a friend in Pahoa who has flows down both sides of him. He can't get (or is not allowed) to his home now for nearly two months. He is retired and was able to pay cash for his home but has no cash left for another one. Of course he has no insurance to cover the loss in the event it burns down or is never allowed to return due to safety. He worked all his life to be comfortable and now this is how it ends.........Bruce

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Robert M posted:

I think you mean you want an Agreed Value policy. Agreed Value is the amount you and the insurance company agree the car is worth and the amount of money you'll be paid if there is a loss. Stated Value policies pay out the car's value as it depreciates.

Try American Modern, they are a subsidiary of GEICO.

Robert, thanks!  Didn't know the difference & I have policies from both companies... LOL!

808donn posted:
Robert M posted:

I think you mean you want an Agreed Value policy. Agreed Value is the amount you and the insurance company agree the car is worth and the amount of money you'll be paid if there is a loss. Stated Value policies pay out the car's value as it depreciates.

Try American Modern, they are a subsidiary of GEICO.

Robert, thanks!  Didn't know the difference & I have policies from both companies... LOL!

@808donn

Here's a short article and a link to the place I just got my insurance through:

https://www.lelandwest.com/sta...ic-car-insurance.cfm

Troy Sloan posted:

So you switched from American Modern ?

@Robert M

@Troy Sloan

So last year around September 2017 my premium notice came from American Modern and the insurance was going to go up a bit to about $575 or so. I didn't pay to renew and let it lapse since the car was parked anyway. After my transmission fiasco I wasn't in a hurry to get new insurance since the car was sitting. A month or so before the SLO West Coast Cruise I went on the hunt for new insurance. I submitted a request to Leland-west and the quote came back at $427.00 so I signed up with them. Imagine my surprise when it came back that the insurance was provided by American Modern. Almost $150.00 more buying it direct from AM as opposed to going through a broker.

I'm back with American Modern, but for less.

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