Classic Car Insurance Lee Dyers Texas Triumph Register
EDITOR's NOTE: Reprinted from The Bluebonnet November 2000 issue of the Texas Triumph Register. The editors thought this was an interesting comparison of antique auto insurance but is not intended to be an endorsement of any insurance company. It simply illustrates the value of comparison shopping,

I have had our Triumphs insured through American Collectors Insurance of New Jersey for approximately the last nine years. The agency has changed insurance companies at least once, but has always been accommodating and I thought their policies were reasonably priced.

The original reason for going with them was that no one else would insure both the 1960 TR-3 and the 1974 TR-6 as classic cars when the TR-6 was less then 25 years old.

Since I have never had a claim, I do not know how either the company or the agency would have responded. Note this policy had deductible. The annual renewal premium quoted for all three Triumphs was $670.80.

Although I was satisfied with coverage and service, I was interested in seeing if comparable coverage could be obtained through a Houston area agent. I sent an email request to TTR members as to who they used and opinions.

Using the coverage terms from the existing policy, I requested coverage and premium quotes from other providers. Identical information was faxed to each company along with detailed information about the Triumphs, confirming that the cars were garaged and subject to limited use, etc. All agents/companies responded promptly to my request for a quote; results were varied. The results are show in the Table,

All of the quotes included somewhat better coverage as they eliminated the deductible on the comprehensive and collision portions of the coverage.

Agent	Telephone	Fax	Premium
American Collectors Ins	609.779.7212		$671*
Hagerty Ins.	231.941.8227	231.941.8227	$727
J.C.Taylor Antique Auto Ins	800.345.8290	610.853.0114	$522
Poe & Brown	713.613.1500	713.688.2562
Vecellio Ins	713.850.7222	713.850.7218	$860
*less overall coverage

My personal rule is that a deductible is a good purchase if the premium reduction equals or exceeds the amount of the deductible over a two or three year period. This assumes that you will not have a claim but once every few years. The uninsured motorist was also increased in most cases to $100,000 or greater.

Comments on the responses that were returned:
Vecellio Insurance Agency needed a great deal more information, photos, copy of auto insurance policy for our regular cars and appraisals. The quoted a premium of $860,00 with Great American Classic Car.

Hagerty quoted a premium of $727.00 but asked if cars were raced. I told them no, but they were auto crossed maybe once a year, and used in club sponsored rallies (Wild Turkey, and regional or national VTR rallies.) They considered this to be racing, and declined to write the coverage unless I agreed not to "race" the cars.

Poe & Grown did not quote a premium when I answered the same question about racing. They consider any timed event as racing.

Sue at J.C. Taylor quoted a premium of $522.00, but said because of Texas Insurance Regulations the policy had to be written through a Texas licensed agent. None of the other out of state companies mentioned this.

Sue referred me to Pete Reinthaler Insurance, 713.864.1515. He was able to secure an application that I completed. He also satisfied the requirements for details and pictures by going to the TTR Car of the Month web site and printing out the information our three Triumphs. No appraisal was required to provide the requested Actual Cash Value (ACV) limits. The policy will be through Maryland Casualty Company, a well rated national carrier.

I have obtained better coverage, reduced my premiums and have local agent to deal with should I ever need to make use of the insurance coverage. It pays to shop from time to time.

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