What are the details of antique, kit, replica, and exotic car insurance?
Chase Carmen Hunter, www.ChaseAgency.com, and Chase Financial Services Since 1993 offers "antique/collector" car insurance. We use several highly-rated insurance
companies that are rated A or better by A.M. Best®. Click here for
a partial list of some of these insurance companies.
Policy features:
Agreed Value Coverage. In case of a total loss, you will receive the full amount for which
you have insured your vehicle.
No Deductible. In most states you will pay nothing if you have a claim with your collector vehicle.
We do however, require a deductible option for newer vehicles that are less than 20 years old.*
One-Time Liability Fee. No matter how many vehicles you have on your policy, you only pay a single liability
charge.*
Flexible Usage. Drivers can enjoy their classics with comfortable limits. Our policy allows
an occasional leisure drive, not just to parades or car events.
Repair Shop of YOUR Choice. Your choice, not ours. Take your collector cars to your favorite repair shop.
Restoration Coverage. You can protect your classic and its increasing value during an active restoration project.
Instant New Purchase Coverage. Unplanned purchases up to $50,000 receive immediate coverage on an
existing policy.*
Business-Use Endorsement. Collectors may use their cars for specific business or commercial uses for
specified time frames.*
* Available in most U.S. states. After you submit your application and estimated premium payment, a representative will
contact you BEFORE your estimated premium payment is processed to advise you regarding the specifics of the coverage
that is offered. If you accept the offer, your insurance application and estimated premium payment will be processed.
Usage and Mileage
Vehicles insured in our program must be used on a "limited" basis which is consistent with the operation of something that has collectible value. Usage for club functions, exhibitions, organized meets, tours, and limited pleasure driving is acceptable. We have no strict mileage limitation for collector vehicles used in this manner. Limited use does NOT mean that vehicles will be used for normal or backup transportation such as driving to and from work, school, or running errands.
Determining how a vehicle is used and what is an acceptable amount of "limited" use are key to our program's success.
Begin by asking open-ended questions:
How do you use your vehicle?
How many miles a year do you drive your vehicle or anticipate driving your vehicle?
Note:
The industry standard for "limited" use is typically 2,500 miles per year
Newer vehicles (cars from the 70s and 80s) are easier to drive and are more likely to be frequently driven Therefore, underwriting is stricter
Are there youthful household drivers?
How old are the regular use vehicles?
How long has the applicant owned the vehicle?
What percentage of the vehicle's use is for pleasure driving compared to use for shows and other club functions?
Unacceptable Types of Usage:
Daily driving or back-up transportation on a regular basis
Commercial usage
Hauling, towing, or other utility type use
Off-road driving or two-tracking
Racing
Storage
Collector vehicles must be stored in a fully enclosed and locked garage when not in use. This is to assure adequate protection against theft, vandalism, and weather-related hazards. The preferred form of storage is a privately owned garage or storage building located on the same property as the owner's residence. If the storage facility is not at the same location as the insured's residence, discuss how the insured will handle returning the vehicle to its secured storage after use.
Note:
Unacceptable Storage:
Public or private parking garages for condominiums and apartments
Public parking structures
Temporary storage facilities assembled of canvas and plastic, such as tents, domes or igloos.
Regular Use Vehicles
Drivers of any collector car must have their own regular use vehicles. In other words, every driver in the household must have his or her own regular use vehicle for daily driving.
Note:
Applicant must own his/her regular use auto
Each household driver must have at least one regular use vehicle. Household drivers include roommates
Regular use autos must be less than 20 years old and in good condition
Motorcycles and public transportation are not considered regular use vehicles
Vehicles away at school with a college student cannot be counted as a regular use auto for the remaining household drivers at home
Trades vehicles such as, pickup trucks and utility vans, cannot be the only regular use vehicles in a household
Regular Use Insurance
The named insured and all drivers must maintain regular use insurance in his or her name
Note:
Personal auto policy must comply with the minimum liability requirements of the state in which the regular use vehicle is garaged and used
Named insured must be the same as the applicant
A current regular use declarations sheet confirming all regular use vehicles have liability and UM/UIM coverage must be supplied
Declarations must contain the following information:
The insured's name
Description of the regular use vehicle(s)
Coverage limits for each regular use vehicle
Policy dates, including inception and expiration
Driver Eligibility
Due to our extremely low rates, only people with good driving records are eligible for our program, generally one or two minor violations are okay.
We will not accept major violations such as a DUI, reckless driving or excessive speeding if they have occurred within the last 3-5 years (Depending on state requirements).
Applicants must have 5 or more years driving experience except in the following states where there is no minimum requirement for driving experience: AL, AR, AZ, CO, DE, DC, FL, GA, ID, IL, MD, ME, MI, MO, OH, PA, UT, WI. Household drivers (non-applicants) with less than five years driving experience must have clean driving records. If you have a driver under age 25 whose driving
record is not good, we can still provide coverage for your car, but we will exclude this driver from coverage.
Chase Carmen Hunter, www.ChaseAgency.com, and Chase Financial Services Since 1993 offer insurance to residents of any country in the world including the following states of the United States of America:
Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida,
Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts,
Michigan,
Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma,
Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington,
West Virginia, Wisconsin, Wyoming. Not all products are available in all states. Click here to view licenses and state regulator contact information.