What are your eligibility requirements?
Any vehicle that is used for general transportation is not eligible. Proof of another regular use vehicle is required for each driver in the household. All modifications or alterations to vehicles must be fully documented. Eligible drivers must be at least 26 years old and have a good driving record with no more than one at-fault accident or moving violation in the last three years. There may be no more than two violations in the last three years for an entire household.
What companies underwrite your policies?
We currently write for American Modern Insurance Group (AMIG).
American Modern has been rated A+ (Superior) for financial stability by A.M Best Financial Rating, and is licensed in all 50 states. American Modern is a nationally recognized leader in specialty insurance with more than 1.2 million policyholders.
What is the difference between stated and agreed amount policies?
Stated Amount- a total loss is adjusted to the lesser of: (1) the amount shown on the insurance policy, (2) the actual current value of property, or (3) the amount necessary to repair or replace the property. Stated amount coverage accounts for any depreciation which might occur during the policy term. Newer vehicles which cannot yet be considered classic autos based on age are generally written on a stated amount basis.
Agreed Value- the amount the insured and company agree to at the policy inception date. That is, if a vehicle is written at a $10,000 value, $10,000 will be paid in the event of a total loss.
Does my vehicle have to be garaged?
When your vehicle is not in use, it must be kept in a fully enclosed and locked garage (carports, temporary garages, i.e. zip up garages and covered vehicles kept outside are not acceptable). If you are attending a car show or event on an overnight basis, coverage is in force as we understand the car will not be garaged while involved in that event or car show.
What kind of driving is allowed with your program?
Pleasure driving is allowed in our program. You are not restricted to parades, car shows, and club events like other programs. We encourage you to enjoy your vehicle. However, we ask that you are prudent in not exposing your vehicle to theft and vandalism by not leaving it unattended for extended periods of time, such as in a parking lot, or parked on the street for hours.
What states do you write coverage in?
Currently full coverage programs are available in 47 states, except for Alaska, Hawaii, and Massachusetts. In the state of North Carolina, we can only insure vehicles that are 25 years or older.
How are you able to offer rates that are lower than my standard auto carrier?
Our customers are meticulous about their vehicles, and take extreme caution when driving and storing their vehicles. Some measures often taken include not leaving the vehicle unattended for long periods, keeping a fire extinguisher aboard, and being careful about who has access to the vehicle. Our customers also have good driving records and conservative driving habits, and have other vehicles for daily transportation. All of these factors help keep our claims low, which in turn keeps your rates low.