As far as I have seen Ins for antique or modified only covers if over 25yrs old. Most ins compnays won't cover cars over 20yrs old on a new policy . A catch 22 situation that many young rodders find themselves in. Just another shot at our hobby. The kids ok if he goes new tuner or muscle on regular ins. Ed
I would say YES, no problem on the owning part, age doesn't come into it, "But" insuring it for the road at 16 would be costly if you can find a Co. to do it!!!!!
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I can only please one person a day, Today is not your day!!Tomorrow doesn't look good either !!!!
No problem. If he lives with you he can put his car under your insurance. Just make sure to insure it as a driver, not a hotrod. It will be pricey at that age so be prepared.
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That's a nice looking - Wait a minute! That's a 50/50 paint job. Looks great at 50 feet or 50 kph!
Yes, correct, all depends on insurance companies. When I searched I found most companies like Bel Air wouldn't even quote me on it. My own insurance company said they would insure him for an ignorant amount of money with no collision.
Any classic car insurance company requires 10 years driving experience. Not age 25.
Across the pond, any 16 yr old can get insurance for a classic car.
Thanks guys, I was wondering about this because a buddy of mine was saying how his friend's little brother got cancer and for the make a wish he wanted a 1965 mustang and he got it but he couldn't drive it because of how old it was but it was probably because he or his parents had classic car insurance and he was so young, but come on a kid is dying of cancer and you won't let him drive his dream car! He is okay now he fought the cancer so he can enjoy his mustang later in life.
Thanks guys, I was wondering about this because a buddy of mine was saying how his friend's little brother got cancer and for the make a wish he wanted a 1965 mustang and he got it but he couldn't drive it because of how old it was but it was probably because he or his parents had classic car insurance and he was so young, but come on a kid is dying of cancer and you won't let him drive his dream car! He is okay now he fought the cancer so he can enjoy his mustang later in life.
Insurance companies have no morals. All they care about is $$$$$$$.
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.
Hywayhauler, Your story isn't making sense to me. Your policy doesn't sound like it was cancelled, it sounds more like the insurance company simply chose the option not to renew your policy due to the age of the vehicle and your age not meeting guidelines (although I'd bet it had a LOT more to do with your attempting to insure a vehicle for more than they believed a vehicle of that age is worth, meaning book value AND the fact that you had modified it).
Regardless, the insurance co. not renewing you is not that same as the insurance co. cancelling your policy like they could/would if you had multiple moving violations, impaired causing death etc.
They had no legitimate reason to boost the rates on the S10 due to cancellation (again, unless there's more to the story) unless it was just a total coincidence that the start of your S10 policy just happened at the same time that insurance rates rose drastically.
I had a snowmobile when I was in my 20's. One year I got a letter stating that they were not renewing my policy as the underwriters were no longer going to be insuring snowmobiles. No problem, I called around and found another insurer and that was that ..... no elevated premiums, no hi risk.
It almost sounds like there's a part of this story you're either not telling us our you've forgotten (like maybe getting the brokers wife AND daughter pregnant ).
I think you made a mistake not taking your situation to the Insurance Bureau of Canada because, as written, it just doesn't make sense.
-- Edited by chips on Wednesday 16th of March 2016 02:57:17 PM
My friends 17 year old kid just got insurance for his 87' Cutlass, so you can get it if you shop around. It is something like $4700 a year however - $386 a month!
No tickets, $5000 agreed upon value of the car, and a G2 license. I don't know if it has comprehensive or not. I hope it comes down when he gets his full license.
My friends 17 year old kid just got insurance for his 87' Cutlass, so you can get it if you shop around. It is something like $4700 a year however - $386 a month!
No tickets, $5000 agreed upon value of the car, and a G2 license. I don't know if it has comprehensive or not. I hope it comes down when he gets his full license.
The fact that there's a $5000 agreed upon value suggests to me that they did get comprehensive otherwise why would the insurance company care what the value of the car is if they aren't covering it?
Wow though .... paying $4700 a year for a $5000 car!!!! Is there something wrong with my math or is that not outright theft?
Paying that kind of money for insurance, he'd better hope he's never found "at fault" in an accident or gets any tickets. I'd be hitting eBay for a dash cam right about now.
Here's an interesting insurance story ..... I don't know if this is still an option, but not too long ago you used to be able to drive in Ontario without being covered by an insurance co. .... dead serious here. The key part of the story is that if you have the money (or assets) to be able to cover the required amount, you were considered your own insurance company. Father in-law used to work for a trucking company that was owned by a HUGE, financially secure company, so they covered themselves. Apparently the Police would go absolutely NUTS when they asked for insurance papers and got the "we cover ourselves, we don't have an actual insurance slip". True story.
We did the same thing where I worked but the cost of insuring a fleet justified this. An individual would have to prove that he can pay out a settlement at least to the minimum insurance standards be it a million or whatever.
Hywayhauler, Your story isn't making sense to me. Your policy doesn't sound like it was cancelled, it sounds more like the insurance company simply chose the option not to renew your policy due to the age of the vehicle and your age not meeting guidelines (although I'd bet it had a LOT more to do with your attempting to insure a vehicle for more than they believed a vehicle of that age is worth, meaning book value AND the fact that you had modified it).
Regardless, the insurance co. not renewing you is not that same as the insurance co. cancelling your policy like they could/would if you had multiple moving violations, impaired causing death etc.
They had no legitimate reason to boost the rates on the S10 due to cancellation (again, unless there's more to the story) unless it was just a total coincidence that the start of your S10 policy just happened at the same time that insurance rates rose drastically.
I had a snowmobile when I was in my 20's. One year I got a letter stating that they were not renewing my policy as the underwriters were no longer going to be insuring snowmobiles. No problem, I called around and found another insurer and that was that ..... no elevated premiums, no hi risk.
It almost sounds like there's a part of this story you're either not telling us our you've forgotten (like maybe getting the brokers wife AND daughter pregnant ).
I think you made a mistake not taking your situation to the Insurance Bureau of Canada because, as written, it just doesn't make sense.
-- Edited by chips on Wednesday 16th of March 2016 02:57:17 PM
Well Chips...No ****s given by me if my life event doesn't make sense to you, what happened, is what it is. If I were home right now I would PM you a copy of the CANCELATION in 2003. I never said you CAN'T get insurance for a 20+ year old vehicle if you're under 25, it's just an ignorant number to pay.
Well Chips...No ****s given by me if my life event doesn't make sense to you, what happened, is what it is. If I were home right now I would PM you a copy of the CANCELATION in 2003. I never said you CAN'T get insurance for a 20+ year old vehicle if you're under 25, it's just an ignorant number to pay.
I am not disputing that a person under 25 can't get insurance on a vehicle 20+ years old. I am not disputing that the insurance on the Cutlass wasn't cancelled/dropped/not renewed or however you want to put it. The part I can't digest is the REASON you claim the insurance on the S10 was high. Their "cancellation" of your Cutlass policy should not have had ANY affect on the cost of insuring your S10.
No accidents, no tickets, and no claims (quite literally NO reason at all to believe you're an accident/claim about to happen) ...... just their refusal to continue your Cutlass policy is made them deem you a "high risk". Nope, not buying it
).
