At 11:49 AM 1/5/97 -0500, you wrote:
>In a message dated 97-01-04 18:25:28 EST, you write:
>
. I know there
>are insurers for older cars that have lower rates for "antique" cars at a
>lower rate if you don't drive it daily and swear you only put X amount of
>miles per year on it. My present insurance company requires a car to be 25
>years old before they allow the lower insurance rate. I have two years to
>go.
> Just wondering. 'Course I know most people on this list are
>independently wealthy and have no financial problems in insuring all of their
>beloved friends. But how do the rest of us handle this situation?
>
> Bill in Colorado
>
Bill,
Our system here works as you describe. If the car is at least 25 years old
or if it's a model with a VERY low production rate, it can qualify for a
Collectors plate. This entitles the owner to drive the car anywhere and any
time he chooses except to work or school. The owner MUST have another
vehicle insured as a daily driver too. The collector vehicle must be in
very good shape and %100 original. Modifications for safety like seatbelts
or headrests or uprated brakes are allowed. There is another class of
insurance offered as well, the VINTAGE plate. This too has severe
qualifying restrictions but also has severe driving restrictions but it's
CHEAP (typically @ $75 /year). The local car club lobby group is
negotiating with the provincial insurance corp on a MODIFIED plate that will
allow hot-rodders and specials builders to get a reduced rate on their
insurance too.
Because the GT is still under reconstruction I have no first hand knowledge
of the Collector plate multi vehicle option. But I'm told than if an owner
has more than one car that qualifies for Collector plates then he pays the
insurance rate on the highest value vehicle and then can swap the plates
from one to another. Same restrictions apply to all the cars covered but he
only pays insurance on the one he's driving. I have no idea what kind of
coverage the other cars would have while they have no plate attached.
When My GT is finished I will apply for collector plates for it and may just
go the Vintage route on the TC. Unfortunaetly I'm still a long way from
having TWO lisenced LBC's in the drive.
If I had to pay full price insurance on all our vehicles I'd have to find
another hobby, something cheaper like......oh, I don't
know..........yachting or maybe.......thoroughbreds.
Cheers,
___ \______ Ross MacPherson
/ __ \ __ / /------|) arm@unix.infoserve.net
/ (___)---------/ (___) Vancouver, BC, Canada
1947 MG-TC 3528 1966 MGB-GT
|