Insurance for the Z

[ZR1North]

Hi fellow canucks,

I took advangate of having to stay at home today (fignting flu) to check out some insurance rates. I currently have the Z insured with the same company that I have my daily drivers insured with, and I am paying just over $1300/yr for the Vette.

I talked to Hagerty which, as you may know, does not insure in Canada. However, they put me in touch with Lant Insurance which does (provide coverage in Canada). Full coverage for a full year with $100 deductable is $595 for $35,000 value and $670 for $40,000 (for my 91). The "restrictions" for use are pretty reasonable. I am about to have the car appraised by one of their endorsed appraisers. Their web site is very user friendly if anyone is interested in checking it out.

I think I will treat the family to some good Alberta beef, Atlantic salmon and frewhwater wallye if this all works out.

Have a good weekend.

Bob

[FNG90-195]

Bob

I've used Lant for years. I have never made a claim, so I can't tell you anything about the claims service, but I can tell you they are very quick to cash my cheques :). I currently have a 78 Mini, 73 MGB-GT and 71 E-Type Jag insured with them.

I haven't put my 1990 ZR-1 on the road yet, but I coincidentally just had it appraised on Wed. and called Lant yesterday to put the insurance on it. I had mine appraised on the low end of the scale given the current market, but still for more than I have into it. The chances of anything happening to the car are pretty low, and the higher they apraise it, the more you pay, and the insurance companies like that!

I picked up some brochures from a couple of other companies that are now offering collector car insurance when I was at the RM Car Auction in Toronto a few weeks ago. When my insurance policy comes due in the fall, I'll likely call around and see if Lant is staying competitive.

Regards

Mark

[ZR1North]

Bob

I've used Lant for years. I have never made a claim, so I can't tell you anything about the claims service, but I can tell you they are very quick to cash my cheques :). I currently have a 78 Mini, 73 MGB-GT and 71 E-Type Jag insured with them.

I haven't put my 1990 ZR-1 on the road yet, but I coincidentally just had it appraised on Wed. and called Lant yesterday to put the insurance on it. I had mine appraised on the low end of the scale given the current market, but still for more than I have into it. The chances of anything happening to the car are pretty low, and the higher they apraise it, the more you pay, and the insurance companies like that!

I picked up some brochures from a couple of other companies that are now offering collector car insurance when I was at the RM Car Auction in Toronto a few weeks ago. When my insurance policy comes due in the fall, I'll likely call around and see if Lant is staying competitive.

Regards

Mark

Thanks Mark - Good luck with the comparasion. I'd be keen to know the results of your work if you don't mind. In the meantime, it's good to know Lant has been ok to deal with.

Bob

[1990 415]

I have used Lant for 13 years. Fortunately I have never had to make a claim. I have 5 classic cars insured with them (including one of my ZR-1s) and that costs less per year than the cost of insuring my C5 with State Farm.

[DaveK]

I have regular insurance on mine. I looked at Lant but the restrictions are far too tight for me. The things that I spotted were the fact that you can't use your car for shopping or holidays.

I don't use my ZR-1 as a daily driver, but I do go on 'cruising holidays' which would void the insurance. Also if you stopped at a shop to pick up a couple of things after a show, it seems you would also void the insurance. I also drive to work in mine VERY occasionally, if I need to for some reason.

Not saying Lant is bad, but just be fully aware of the restrictions. I know several guys in my local club with older C1/2s etc. who never do anything but show their cars and they are very happy with Lant's coverage.

[MB ZR1]

Mine is going to get appraised next Saturday. Manitoba's insurance is government run and they'd give me next to nothing for my '90 if the unfortunate happens. I found some private insurance for specialty vehicles I'm going to try this year. It will be cheaper and will give me the appraised value for my car. I think it will cost me about $800-900/ year depending on what it appraises for.

[Cdn ZR1 95]

I'm insured with TD as are my daily drivers. Currently getting an appraisal done to make sure I'm completely covered. One thing you might consider is I am able to switch to comprehensive for roughly 6 months during the winter when it is parked. So fully covered for fire/theft etc. Nice thing is that is about $20/month from Nov-April. Call them up, add back collision/liability in late April and good to go. Brings annual cost to around $650 for the year and no restrictions.
Unless I'm missing something seems like the best of both world for us Canadians with a shorter driving season.

[ZR1North]

I'm insured with TD as are my daily drivers. Currently getting an appraisal done to make sure I'm completely covered. One thing you might consider is I am able to switch to comprehensive for roughly 6 months during the winter when it is parked. So fully covered for fire/theft etc. Nice thing is that is about $20/month from Nov-April. Call them up, add back collision/liability in late April and good to go. Brings annual cost to around $650 for the year and no restrictions.
Unless I'm missing something seems like the best of both world for us Canadians with a shorter driving season.

You make a very good point.

Since I started this yesterday, I have been looking more closely at my current costs, since I do the same (full coverage for six months and just comprehensive for the storage months). In so doing, my annual costs drop from over $1300 to about $700, but this approach is a bit of a PIA to administer and more importantly, it eliminates the ability to take the car for short runs (to keep the diff and tranny better lubricated) on dry days during the winter (since I don't have collision during those months).

I have an exchange going with Lant to ensure my use of the car would not violate the terms and conditions of the policy. If it doesn't, having full coverage year-around and having to deal with the insuarnce company only once a year (for renewal) will win me over to "the collectors".

It's always good to have options!

bl

[DaveK]

I'm insured with TD as are my daily drivers. Currently getting an appraisal done to make sure I'm completely covered. One thing you might consider is I am able to switch to comprehensive for roughly 6 months during the winter when it is parked. So fully covered for fire/theft etc. Nice thing is that is about $20/month from Nov-April. Call them up, add back collision/liability in late April and good to go. Brings annual cost to around $650 for the year and no restrictions.
Unless I'm missing something seems like the best of both world for us Canadians with a shorter driving season.

I used to just let mine run full coverage all year, until I learned this 'trick'. This year I did this with similar cost savings. I agree that it seems to be the perfect solution.

[Cdn ZR1 95]

I should add that when I needed to take my car to the indoor show at the GM dealer in March I called up insurance and they said it would cost them more in admin work to add back my coverage and adjust my policy in March. So they simply made a note on my file that I had full coverage for that one Saturday from 9am-6pm for the designated use. Saved me another 4 weeks of coverage until mid-April. Thought that was pretty good customer service.

[TommyL]

I have my 90 with Lant but my 93 is insured with a company called Echelon... they have a new ins plan for specialty cars and believe it or not its alot cheaper the Lant. Check them out...

http://www.echelon-insurance.ca/links.php