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Post Info TOPIC: Is it possible to insure a "classic" if your under 20?


TORONTO, ONTARIO

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Is it possible to insure a "classic" if your under 20?
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Hey guys I was wondering if it was at all possible to insure a ride if your under 20? I've been looking with no luck, just people laughing at me and hanging up.no 

They say the younger generation isn't getting into hot rodding and this is why. Its the only reason I dont have a car yet, any help would be appreciated.



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ALLAN PARK, ONT ADMINISTRATOR

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When I was under 20, I insured cars that are classics today..At the time they were just beaters.

I feel your pain though....Keep a good driving record and prove you are a good risk. I know it isnt fair, but we all went through it

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PORT HOPE, ONT

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We had to insure our sons truck on our ins in my wifes name to lower his costs .At one point it was going to cost over 25hundred dollars a year and he didn't have any problems on his record .That's the only way he could drive and own a cool ride,even if it was listed as his moms truck.His "moms" truck by the way had nice slotted rims with fat tires and was painted bright orange with stacks and the necessary poundin stereo. Ed

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TORONTO, ONTARIO

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If I got a quote for 2500, I would have something on the road right now. The point is they flat out refuse me due to age, I have a clean record.

Do they not stop to consider I would care about a car that I took the time effort and money to purchase restore and maintain?

Plus the car I am currently looking at is a 4 dr, 6 banger... not exactly street or any type of racing material.

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FINCH, ONT

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Insurance is all about money they dont want you or need you as a driver you need them. They suck and they dont care about you or your like of classic cars. My 17 year old just got his g2 he owns a 1965 ford custom 500 even the classic car companies wont touch him and his car till he has had his full license for 10 years. It sucks its stupid its arrogant its discriminatory its about $$$$$ its life. But a decent cheap 4cyl driver and get out and drive as much as you can enjoy the freedom of the road. When you go to a show and one of the insurance companies are there talk to them and make you point as furiously as you can. I talk to the guys at lant every show we go to to tell them of my thoughts they know me by name and know how I feel.

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FINCH, ONT

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poncho62 wrote:



I feel your pain though....Keep a good driving record and prove you are a good risk. I know it isnt fair, but we all went through it


 we didnt pay half of what the young guys need to pay now. Its just corperate greed thats it. A kid with a $10.00 an hour job and rent cant afford to drive plain and simple we were making $3.20 and hour and still could afford driving in the 80s.



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WASAGA BEACH, ONT

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Unfortunately, young guys are a proven high risk for insurers. My classic car insurance states drivers must be licensed a minimum of 10 years. So my son can't drive my classics. We have him added as an occasional driver ( on his H3) with his mother as the principle driver but even that is $2500.



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ONTARIO

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I have 2 cars( out of 4) on my regular insurance policy that stipulate 10 years driving experience as well. These are not classics, '06 and '07 model years. They are summertime daily drivers for my wife and I, parked for winter. This was done to keep from paying big bucks for my daughters to be covered on them. The kids don't drive them, and are not insured on them. With 4 cars on the policy, I was already paying for the kids being principle drivers on the other 2.

 In alot of cases the 10 year driving experience clause sucks and is unfair, but it'has allowed me to save some money.



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BARRIE, ONTARIO

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My first yr of driving cost me 700 bucks in 77 - 78 maybe , this yr wife,s 87 trans am and 01 grand cherokee about 750 an 900 , my 98 crv about 700 an the 50 chebby truck about 250 ?? on classic ins . Helps to have lived in the same town with an went to school with your ins agent ..77.

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FINCH, ONT

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My first car 1974 Dart Swinger was 320.00 for six months my parents didn't own a car and my dad was the second driver. My second car was a original paint 1956 Chevy truck also had a 80 Chevy p/u and a 1966 Chevy II a 75 Charger and a 74 Grand Monaco. I had fleet insurance that was still under a grand a year and had still not been driving for ten years at that time.

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COBOURG, ONT

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give my insurance broker a call, he gets things done that nobody else can, his name is john johnson, in cobourg at a company called bailey mcnichol and wilson.  tell him rob marshall refered you.



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PERTH, ONT

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My son rebuilt and restored a 1979 Trans Am and with Heggerty and Lant could not get decent coverage. The insurance companies eventually gave him standard car insurance, so he could drive it. They warned him that it was never to be covered for collision damage so if he had an accident whether or not it was his fault it was not covered for damages. This is not good.

This year he tried Crosslands General Insurance and requested their classic car insurance and guess what after jumping through some hoops ... appraisal mainly ..... he has classic car insurance with agreed value and the price, which I think is expensive, was a meager $1250 a year.

This was so good I moved my classic car insurance to them. Unlike LANT, HAGGERTY and just about everyone else who use AVIVA as the underwriter they use Federation Insurance Company.

Give them try at 1-800-461-2591


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CAMBOURNE, ONT

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Wedge: just curious, how old would your son be and how long has he been driving. That rate sounds good for a young boy.

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PERTH, ONT

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The young lad is 24 and married. He has his G license and has had it for 6 years. His insurance rate for his daily driver, a Subaru WRX STi, is outrageous. He says his rate for his wife's Magnum RT and his WRX is more than double the rate for the Trans AM.

I called Crosslands for my Plymouth after seeing his rate and asked for a quote and eventually, after a new appraisal, switched to Crosslands as well. They were almost half of what I was paying LANT-Hagarty.

Now I don't want to jinx it but I wonder how good the coverage is. I had a claim with Hagarty and they were nothing but fantastic to deal with but when I can save $500+ a year on insurance its hard to ignore.

Remember that the underwriter for LANT, Silver Wheets, Hagarty and just about every other classic car insurer in Canada is AVIVA while Crosslands is Federated. Assuming that the agents take the same commission, off the top, the real rate is set by the underwriter and I know AVIVA is one of the most expensive in the world.

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ONTARIO

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This is great information !!

I had my car insured with Whetter and Oakland since I've built it 5 years ago and was paying $384 per year with them for $50000 coverage. Last year Lant took over all of Whetter and Oakland's customers, and my rate jumped to around $450. I was pissed, so I called Lant to complain, and the guy on the other line told me that if I had been a new customer my rate would be around $900 per year, so I should consider myself lucky !!

If my rates jump again at renewal time, I will try one of the other companies mentioned.



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BLACKSTOCK, ONT

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I called around for quotes before I got sick awhile back, & was surprised at the diff. from what I'm paying "LANT'S & what i was quoted elsewhere. One co. even covered your 'stash" of spare parts for your ride, all had the "19" policy coverage but some were almost 1/2 the premium??? Seem as though once Haggarty got involved,& buying out a lot of the compitition, the price just went up & up!!! Also notice that on Lant's flyers it says "subject to a Haggarty $40 Fee". When i called Lant's to ask WHY the rates are so much higher & the $40 fee, Person said the coverage "likely" wasn't the same??? & that the $40 wasn't charged on 'renewals" I'm over 1/2 way thru my yrs. coverage BUT am going to investagate further & change if I find Lan't is "bending me over the barrel"

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OTTAWA, ONT

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sorry for the bump, but i was recently able to get insurance on my 64 bel air through TD insurance and i'm only 22 year old, I've only had my full g license for over a year. I currently have house insurance with them and they quoted me 1400$ a year for my car, just liability. they also gave me a quote of 1700$ for my 2013 silverado, meanwhile i was paying 2600$ a year with Bel Air Direct. once i switched my truck over, my car went to 1,200$ a year.

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PORT HOPE, ONT

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Good info, sounds like there may be some hope for our younger rodders. Ed

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BRANT COUNTY, ONT

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I am paired with my mom currently with State Farm. My rate is under 200 a month and I'm 17. I called today coincidentally enough and they will inure my 27 yea old camaro as an antique, provided I get a full appraisal copy of ownership and pictures. It also according to their ire has to be either restored or maintained( hence the pictures and appraisal). I think it is only because I am under my Mom. I plan on pursuing this and insuring the truck and camaro if I can afford it.

 

In addition now that I have seen GhostPost's post, this was for a 2500km a year or less policy. The one for my truck is 12000 or so.



-- Edited by 66-67-88Chevy on Saturday 21st of March 2015 08:43:47 AM

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ONTARIO

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My son with his car is saving up to build a drivetrain but its on hold because insurance costs. Thank god his education is coveredwink

I am going to give CrossLands a call and price them out. His car doesn't see rain, school, his job, just car shows/cruises/nice weather day drives. Hopefully they won't nail him that hard on insurance for just a sunday drive car? He has anticipated and saving for the $2500-$5000 per year. Anything less is gravy and goes towards his drivetrain.



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GTA

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Yikes .... expecting to pay $2500-$5000 per year for a "Sunday drives only car" (and I'm assuming, the odd weekday cruise). That just doesn't make sense to me, I don't care how old the driver is.

If I were you, I'd be insuring it with "regular" insurance with no collision coverage, and just driving the thing.


The way I see it, these things are just cars that were designed and created to be driven... my 30's era General Motors coupe is insured exactly as described above and I drive it every chance I get. As a matter of fact, I toured down the 401 yesterday, on the way to and from my parents house (probably put 100 miles on it), this also included a stop at Dollar Rama, another stop at Best Buy, and a third stop at Canada Computers (yep, I leave her unattended in shopping mall parking lots too).

I drive it as often as I can (which is literally daily in the summer and when the roads are dry in the winter), and just accept that any number of things could very easily happen to it (theft, door dings, accident etc) ... and if something does happen, I'll deal with it then.



By accepting the risks involved, I am able to thoroughly enjoy my vehicle by driving it when I want to and where I want to ....






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ONTARIO

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He and I did a father son project and its not an everyday driver to him.Some may disagree but it was built for him. What I did find out is that a licensed driver in my house hold has to be insured as soon as they have their G2. Which my rates will go up. He lives with his mom 50%. Her rates will go up. If he insures his own car, I do not have to insure him nor does his mom. He wants to drive his own car. This also allows him to drive my vehicles as well without having to pay.
If he pays the high rates, eventually it will go down in a couple years. Since he is young,(16). Its best he deals with this now. Rather than when he is in trade school. I have seen some kids in college trying to go to school and pay those rates on their own. Whether he insures it now or at age 20. The rates will be high for a couple years.If he gets this out of the way now. He can then concentrate on other bills/school when he is out of high school. We all did it. I did it. He makes over $11 hr now.I made $3.25hr at his age and paid $1200 for my first car. Its about the same. As long as he is in school, rent,food,clothing is free. Its his only bill.

He has too much time and money spent on his car not to have full coverage. Its insured now for $9000. He would want the same coverage despite the amount of mileage driven in a year. From what I been told by agents. He can fully insure it for 6 months. Only use it a a sunday driver. Store it 6 months and pay fire and theft. But because its still only fire and theft, he still can drive my cars because he has his own insurance.

It does not make sense to have him pay secondary insurance on my cars for him (occasional driver),and him never accumulate insurance on his own which to insurance companies is important by getting rates down. You can be an occasional driver for 20 years but even after 20 years and getting insurance on your own you will be treated as a first time insurer.

Id hate to be getting insurance in college or a young guy with a family for the first time. Its good he is getting this out of the way now while he has no bills, no debt and school is already banked. He has no bad habits to waste money on except cars.

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GTA

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365 days in a year. 182.5 days in 6 months. 26 Sundays in 6 months. $5000 divided by 26 days = $192.30 for each Sunday drive. $2500 divided by 26 = $96.15.

Basically it is going to cost your son between $100 and $200 for each Sunday he drives it ... plus gas, oil changes, plates sticker etc making $11 an hour (before taxes) .... I wish you and your son the best but there is no way I could justify the expense verses the available hours of drive time. Doesn't matter (to me) whether it's a '70 Chevelle SS or an 80's 4-dr Malibu, there is just no way I (me personally) could justify it.


Please don't take this the wrong way as I have the same point of view regarding "trailer queens", show cars that do nothing more than parade (either under their own power or in the comfort of a cozy trailer) from the garage, to the "cruise night" (which should really be titled "parking night") and back to the garage. Tons of them out there and plenty on this site alone (and the owners are enjoying them) . I (again, just me personally) could never justify the expense of having a car that can't (or isn't) being used as a car ... again, just me. I've had the "too nice to drive" car before, and I got tired of it really quickly and have no interest in doing it again.

Not "ragging" on the route you guys have chosen ... it's just sad that such a HUGE portion of your sons income will be spent on something he will rarely get to enjoy (outside of the garage).

Cheers









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ONTARIO

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A huge portion of this hobby is rarely spent out of the garage.
If there is an easier way please explain it to all young hotrodders out there

He told me he would rather walk and take the bus borrow mom and dads car and drive his car on nice days than drive a cavalier ( not ragging in j body guys) and pay the insane insurance for a couple years !

For a young gear head there isn't much option. He is a true gear head.
The fun will be when he buys a winter beater. And pays insurance all year round

Atleast if he pays insurance on his car. It will be insured in its value. To me justifying $2500-$5000 insurance on a $1000 beater car is insane!!

It's a no win situation. He is a male. With little driving experience. Doesn't matter it's a MoreDoor malispu or whatever. He is going to have to pay the piper for insurance. Despite he driving it 5000 km per year !
I don't make it like the rules anymore than you. In fact it's hard for young folk to work drive and have a social life with these rates.
He was smart and started his project young. Now he owns it free and clear. Owes nothing on it. And did it with me. Daddy didn't give him a car.  I helped him as much as I could. 

 

Perhaps, buying a beater would have been a smarter thing to do and then build something along the way but this is how we did it. At the time I wasnt sure where my health was going. I wasn't sure if I'd be able to help him later in life so we did it when we could. Now his health is a major issue so it looks like timing happened when it was supposed to. 

 

Id also like to add since he insures his own vehicle it allows him to drive our cars without him having to pay or add to my Insurance.  So he will he will be driving alot more than 5000 km  



-- Edited by GhostPost on Saturday 21st of March 2015 11:41:04 AM



-- Edited by GhostPost on Saturday 21st of March 2015 11:42:44 AM



-- Edited by GhostPost on Saturday 21st of March 2015 11:52:10 AM

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GTA

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GhostPost wrote:


If there is an easier way please explain it to all young hotrodders out there

He told me he would rather walk and take the bus borrow mom and dads car and drive his car on nice days than drive a cavalier ( not ragging in j body guys) and pay the insane insurance for a couple years !


 

 

OK, here's how i did it .... My first car (at 16 years old) was a '71 Mach 1 ... I wrote it off on the 401 the first summer I had it (my fault, towed it home and cut it up ... did not go through insurance ... my mistake, my loss).  Next I bought a running and driving 340 Duster.  I added the usual in the form of headers, Cragars etc and I drove it everywhere.  Washed and waxed it, did more than my share of street racing with it (the "real" kind that happened in abandoned area's in the middle of the night), put the roof racks on at times to allow me and a bud to take a canoe up to Bancroft for fishing (caught my first Muskie) ... I figured that since I paid for it I should get plenty of use out of it, and that's exactly what I did. I'd rather wipe one out making memories (and I have a TON of memories of that Duster from over 30 years ago), rather than have still have the Duster years later, hardly haven driven it (it is long gone).  Losing the Mustang was not the end of the world .... I just moved on and found the Duster.  Yeah, I could have parked the Mustang that day, and driven something else ... but, who was I saving the Mustang for?

 

I am in no way suggesting he park the Malibu or even sell it to purchase (and drive daily) a Cavalier.  I am actually not suggesting he do anything differently than what he is doing, I am simply saying that if it were mine, and I was in his position, I'd drop the "specialty insurance" (if that is what you presently have), drop collision, toss the insurance appraisal in the garbage,  and get the cheapest insurance that allows him to drive with no restrictions so he can get out there and enjoy driving it ... to work, to school, in the rain, (I don't care what kind of car it is, it is STILL just a car) anywhere and everywhere.  That (to me) is where the real fun of owning a cool car is.  That's just my opinion ... and IS how I handled it in the past and how I presently handle it.  

 

Last summer I was out and about, during the week in my old heap .... older guy comes wandering up "Hey, nice car" he says.  "I have a ______ (can't remember what he said it was ... maybe a mid-fifties Ford).  So I ask "where is it?" ... "back home in the garage" was his reply.  To me, that answer is one that I hear WAY too often and it makes me kinda sad .... to me (and once again, just my opinion), owning something "cool" and not actually getting out there and using it just isn't where the "fun" is for me ... because of this point of view that I have, I find it sad that your son will be spending a HUGE portion of his income on something he is only going to be able to drive 26 days of the year, and that's only if all 26 of those days are rain free.  I just couldn't deal with that myself.

 

Guy near my parents has a big SUV (so what right) but he also has a Ferrari Mondial rag, two Z06 Vettes, Cobra kit, Pantera, Viper GTS, Porsche GT3 and whatever else I am unaware of .... you can guess what he ALWAYS drives .... the SUV, regardless of how nice the weather is.  Every time I drive past his house I think .... "all those nice cars and he never drives them ... whatta dink".  

 

Do what you gotta do but MY memories aren't of installing an Accell Super Coil and Super Stock wires .... my memories were made all across Ontario, in my car.

 



-- Edited by pint and a pound on Saturday 21st of March 2015 01:57:34 PM

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BRANT COUNTY, ONT

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pint and a pound wrote:

 

Do what you gotta do but MY memories aren't of installing an Accell Super Coil and Super Stock wires .... my memories were made all across Ontario, in my car.

 

 


 There is a lot of info in this thread but I would have to agree with this statement as I was the same way.  Built a 67 Nova 4dr as best as I could and drove it.  Drove it to York PA for the Nova nationals and even slept in it to save the hotel fees for the one night on the way there.  Rain or shine but took it off in the winter.  The next car was the same way. 14 sec  78 Nova.  Tons of memories in that car.  Then after that came Marriage and kids and my Nova has had to take a back seat to the everyday needs of a family.  So I am glad I drove the heck out of the cars while I was young and made all those memories and can't wait to drive this wagon and make some more memories!  Also I agree when it is said "Do what best suits you and your son."  Have fun even though the insurance people have made it very difficult.biggrinbiggrinbiggrin



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GALT, ONT

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chevyboy wrote:

Hey guys I was wondering if it was at all possible to insure a ride if your under 20? I've been looking with no luck, just people laughing at me and hanging up.no 

They say the younger generation isn't getting into hot rodding and this is why. Its the only reason I dont have a car yet, any help would be appreciated.


"I was wondering if it was at all possible to insure a ride if your under 20?"

Is it possible.... yes....  is it expensive,, YES.... on your own? under your own name only...  probably not!

probably with a lot of hoops too.. like this can't be your daily driver.. you'll need other types of insurance policy bundled with it..

so, for the young guy with house, a couple auto, life, and a classic.. they will insure the classic.

for the most part... in my humble opinion <imho> if someone under 30 wants to insure ONLY a classic... <sarcasm> GOOD LUCK </sarcasm>

 

"They <insurance co> say the younger generation isn't getting into hot rodding and this is why"

hmmm why would those words "hot rodding" ever come out of a insurance co ,,,??  is this CLASSIC a bonifide hot rod ?

or is it a true classic..?   

If it could possibly be your gramps car.. an old Chev you had "given" to you,, you want to drive like a very responsible young adult... well,, look back to what I first wrote... you'll probably need multi policies..

Even over 30... if you try to insure a car over 15 yrs old,, there are hoops... and or situations

My buddy born in 1960 ...has a 1980 vehicle ... insured since new with the same agent, same insurance co since 1977,, I kept saying that a number of people I know can't insure a car over 10... or 15yrs.... and he said... he was different.  in mid 2000 he got a letter from insurance co telling him he was no longer insured with that vehicle as it was over 15yrs old.......... ???? ,,,,,,,,, what? it happened to him tooo!

so.. he called around and found it difficult to get insurance ... so I said... they signed a contract to insure you for 1 yr ... make them honour that.

which he did!  That summer plans went thru as planned.... and he was able to find a company that would take on this vehicle, etc.. so he is happy now.... as he still has that vehicle..

 

My point is .... there are a lot of hoops.. rules... agents, and companies .... and if you arrange your situation.. you may be able to find a way to get insurance that pleases you.

I know one kid who changed his address to add an apt number ... <wink> so when insurance company asked if he lived "with" his parents... he said.. well... in the same "building" just not the same apt.....  some would say that was lying.......... 

 

I know one who had a ticket that just left his record  but that was known by the original ins, co. He found a new company that was willing to "overlook" that old ticket .. as it wasn't on the record at that point.. and that dropped his rate $1000 for 3 yrs... and was at the time he turned 24... and they gave him another break as he was considered in the 25y/o cat. ,, but of course he was married,, wife had a car, they had life and home and content insurance...... sigh..... they were still getting $$ $$$ $$$ .... sigh..

me,, I don't store anything... I drive it..... to a silly point I guess.... as I took the Harley for a ride in Feb,, and March.. to Port Dover. Yah I had to wash the salt of it....... I don't expect to will that vehicle to anyone....  I have a classic in the driveway that I will take out ever day... but rarely if the road tastes like salt ,,, it is just over 40 yrs old.. considered an original car ,, I am about to find out if I can have it as my sole driver on my policy... as it looks like I sold my modern car,, and have a plan to use the bike or the classic for the summer at least...

if the chain don't break ... lol... 



-- Edited by meester_jamie on Saturday 21st of March 2015 07:49:58 PM

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ONTARIO

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Great valid points and stories. What pisses me off. Same insurance company in the good ole USA doesn't have the 10 yr driving clause that Ontario mandates us to get classic car insurance.
When I spoke to the driving college instructor today at the car show and explained he agreed and said this will be his best bet now paying high premiums before college.

He has the keys to our cars. I trust him. Times sure have changed. But I did the same. I have parked mine in winter or bought a beater. Borrowed my parents car or took the bus. I didn't mind. By time I was 19 insurance was far cheaper.

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OTTAWA, ONT

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pint and a pound wrote:
Do what you gotta do but MY memories aren't of installing an Accell Super Coil and Super Stock wires .... my memories were made all across Ontario, in my car.

 


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ONTARIO

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So How did you make out with your insurance hunt? I called  Crosslands.  They wouldn't even give me a quote for my Marauder because it is too new. They wouldn't insure the Malibu under my son because as i noted above....they have to have 10 years driving experience to insure it.(same as company i use now). They also wanted proof in advance of an appraisal. She also said good luck finding a company to insure him with his G1. Most companies will only insure a G driver.

I was told as I thought already. My son will just have to have reg insurance on it and pay the piper but he will have zero restrictions and can drive it anywhere, anytime.  Where he chooses where to take it and park it is up to him, from the quotes I was given today. It will only cost him $500 more to insure it under his name than to be a secondary driver under us and not be able to drive his own car since we have classic car insurance. I did find out though that since i am disabled, I qualify for a discount, same as a retired person gets. despite my young age. That was the only good news I received from the insurance quotes for me today shopping around. I contacted State farm, Intact, and Bel Air.....and sill my insurance company beats them all by minimum $100 a month. (some were $200 a month more!)

I know some people on here have multiple vehicles like your family Ben. Would that be a consideration for insurance? Have you and your dad looked into that? I wonder if that do that with classics? 

I am curious to know how you guys made out. 

We were speaking to the driver training instructor at Fanshawe college and aside from his sales pitch to take the $800 course, he did say the sooner he has insurance in his own name the sooner it will go down. He agreed 100% that if he pays the insurance rates for a couple years now by the time he hits college and into trade school he shouldn't have to deal with such a burden and concentrate his funds on tools etc.

Are there any other parents here with a kid with a classic car in the same situation? Id like to hear feedback,suggestions too....



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pint and a pound wrote:


 

Do what you gotta do but MY memories aren't of installing an Accell Super Coil and Super Stock wires .... my memories were made all across Ontario, in my car.

 

 


slab wrote:

 There is a lot of info in this thread but I would have to agree with this statement as I was the same way.  Drove it to York PA for the Nova nationals and even slept in it to save the hotel fees for the one night on the way there. biggrinbiggrinbiggrin


 

I slept in that Duster too ... biggrin

One friend slept in the back seat, the other slept in the front (had a bench seat at that time), and I actually slept in the trunk, with the lid closed (wasn't worried, I had installed a power vacuum release from another Mopar, so all I had to do was .... ahem bleh, suck on the hose and the trunk opened).  We had arrived at the cottage of one of the three, without permission, and found that a handyman was staying there while working on the cottage ... he was PISSED OFF and refused to allow us to stay there.  Left the cottage, found a spot where we could drive right into the forest (on flat rock, not on any form of trail) and slept there.  



-- Edited by pint and a pound on Monday 13th of April 2015 04:28:00 PM

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SUDBURY, ONT

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Here's my insurrance story...

In the year 2000, I turned 18. I wanted a muscle car, but being an 18 year old male, it wasn't an option, even though I had my own inssurance for a year and a half, the price to inssure a mustang or camaro and the like was almost 4000$/year. If I couldn't have a muscle car, I would settle for at least a mid 80's rear wheel drive V8 car. I found a 1983 Cutlass Supreme 2 door Coupe. Nothing special, Brouham interior, colunm shift, bench seat, 307CID...

I bought it and inssured it. Was the same price I was paying for my 1990 S10. Life was good.

I drove the car for 2 years as it was. It was probably the cleanest G-Body you ever seen. It was my pride and joy, seeing as I was going to College to be a mechanic, the car ran better than a new one and I loved it.

Winter of 2002, I bought a 327SBC from a '65 Corvette, I re-sealed the engine, ported the heads, new intake, Carb, Headers...
I built a 700r4 for it, and changed the rear gear ratio to 3.55:1. Spring came, and I yanked the 307/200r4 and installed the 327/700r4, along with the new gear set.

I never took the inssurance off the car this whole time. The Cutlass ran strong and I was happy with it. I finally had a muscle car! My plan was to get the car appraised, and adjust the inssurance accordingly, so I sat down with my broker, but she said the policy was comming due in October 2003, and I could do my changes then. I agreed and went home. This was August.

Let me tell you that this whole time, I had never even gotten a single speeding ticket, let alone an accident.

October 2003 came, and I got my policy renual in the mail (or so I thought). It was a CANCELATION!!!

Apperently, in Ontario, if you are not 25 years old or older, and you own a vehicle that is 20+ years old, they do not have to inssure you, and can cancel your policy without telling you. And that's what happened. Now we all know what happens when your inssurance gets cancelled...You become a high risk driver.

I put the car in storage for the winter uninssured, and shopped around. I was driving that 1990 S10 for the winter, at 2700$/year because of my cancelation!

I finally found a company that would inssure a 22 year old male with a 20+ year old car, that was a High Risk Driver...Brace yourselves...6700$/year for a 1983 Cutlass Supreme. I inssured it for a month, then cancelled, and drove inssurance-less for the rest of that summer, and two following summers, until I finally sold the car. It took 5 years for my rates to come down to normal, all because I wanted a descent cruiser to drive.



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I found out today it doesn't matter who owns it to insure it. If he is the principal driver then it's who gets charged for the high insurance. The companies I contacted would insure him. But apprehensive to put collision on. I finally had an honest agent agree with me spending $800 on driver training will NOT save him north of $800 off his insurance.
Said save the cash and use it towards his insane premium.
If he drives my wife's daily driver vs his classic it only saves him $20 a month but then mom has to figure out what to drive. Agent agreed with what I said all along. He will have to pay the piper. His only option for cheaper rates in to be an occasional driver on all our cars and then he can't drive his car because of the 10 year driving experience clause that classic car insurance does not allow drivers with under 10 years driving experience.



-- Edited by GhostPost on Tuesday 14th of April 2015 07:27:11 AM

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