I need the same thing, and have never got off my a.s.s to look into it. A blanket policy for the fleet.

 

I need the same thing, and have never got off my a.s.s to look into it. A blanket policy for the fleet.

Well you check it out, and let me know lol. My broker doesn't have anything. Somebody should be willing to do it, with some kind of appraisal and a guy willing to pay the premiums.

 

Because these are motor vehicles there is no blanket policy offered by any insurer that I'm aware of. Each vehicle requires its own policy.

The older sleds of higher value are hard to convince an insurer of what they are worth. It takes a lot paperwork market proof that a 92 Mach 1 X is worth X thousand more than a standard Mach 1, for which they would only value at a few hundred dollars.

 

You would think that a company would cover collector motorcycles, even cars that are more museum pieces that never see the road, sleds now that quite.

Here is exactly what I was looking for, but American, haven't anything yet. I am going to call Hagerty, they don't lost sleds but do antique tractors. At least I can suggest they consider looking into this market.

https://www.vandvins.com/collector-snowmobile-insurance

 

Called Hagarty, no dice. She said they have been looking into it for years but their underwriters won't go for it. Not sure why, seems like there would be money to be made.

 

I've been looking for several years in Canada for such a coverage and no dice.

If you find an underwriter who bites please advise.

Thx

 

I've had policies before where I stated the value and that's what they insured it for, even though that was above book value. It was through a small Mutual Insurance Company in WI.

 

It's kinda strange to think that if people are willing to pay the premium, why companies won't insure them. Are they a higher risk than anything else? Seems like someone is missing out on potentially good market with collectors. Just as I found it so weird that I couldn't pull the liability and just insure a non used sled for fire and theft. Makes no sense if I am willing to pay the premium. I know every time I add something, they always ask the value, but not sure how close the payout would be if something happened. Its too bad Hagarty won't do the vintage sleds, seems like they are great for vintage cars. They seem pretty easy to get along with.

 

I have my collection insured through Berkley classics, V&V insurance out of Decora Iowa writes for them. They also insure my Mustang cobra. There are some pointers for those of you wanting to insure higher dollar sleds or newer rare/race sleds.

There is a "magical dollar amount" that will make them squeal. Nearest I can tell it is around $10,000. At that point they want detailed pictures and appraisals. If you need help with an appraisal let me know. I got fairly creative on the few that I have insured for north of $10,000. One thing you need to keep in mind is that they could really give a rats behind if you are insuring a 72 Elan or a 1/12 built prototype 82 Blizzard 9500's with independent suspension....you are actually just insuring dollars. Don't get caught up in what a sled is actually worth on the open market. Insure your sleds for what it would cost you to replace them. I'm talking about finding one as nice or nicer than what you have now, your fuel, time, travel and/or shipping expense to get it to you. Once again..they will not nit pick your values until you approach the 10k mark.

I review my policy with them semi annually and keep a running inventory of sleds and values in the notes section of my Iphone in the event something happens to them. I also email the list to my wife every year as well. That way if something happens to me she has a ballpark figure of what they are worth.

I also insure all of my late model race sleds as well as late model prototypes. These are a bit trickier. Expect to sign a waiver stating that you understand that if you chose to ride them you are not covered. Basically they are covered while on display, in storage or being transported to and from a show. That covers my needs almost 100%.

Recently I have also been getting audited on random sleds mileage. I have been asked to provide odometer mileage for 6-10 sleds at times. Not a big deal as even though they all run I rarely get an opportunity to ride them.

To give you an idea of cost, I have my collection insured for around $200,000. That level of insurance costs me just under $1000 per year.......dirt cheap in my mind.

There are several things that affect premium, area and climate where they are stored, whether or not the structure has heat, type of heat as well as running water and a security system. At the end of the day it is just about risk. When I moved my collection into the museum after it was built my premium increased because of the type of heat that I have and the construction of the building.

I hope this helps and I HIGHLY encourage and recommend insuring your collection......never say never......accidents DO happen!

One other thing is memorabilia, I have an additional $200k on my homeowners insurance that covers my suit collection, parts and memorabilia.....also dirt cheap to buy insurance for. I encourage you all to look at your parts and memorabilia, guarantee you that you have more stuff than you think!

Junkman

 

It's kinda strange to think that if people are willing to pay the premium, why companies won't insure them. Are they a higher risk than anything else? Seems like someone is missing out on potentially good market with collectors. Just as I found it so weird that I couldn't pull the liability and just insure a non used sled for fire and theft. Makes no sense if I am willing to pay the premium. I know every time I add something, they always ask the value, but not sure how close the payout would be if something happened. Its too bad Hagarty won't do the vintage sleds, seems like they are great for vintage cars. They seem pretty easy to get along with.

I have Comp (fire and theft) on several sleds with no liability coverage. Co-Operators.

 

I have Comp (fire and theft) on several sleds with no liability coverage. Co-Operators.

I may check with them, I used to have some policies with Co-Operators. My current company, Intact, will not - at least according to my broker. Several years ago my employers broker showed up at work and I questioned him about it out of curiosity. He said the same with them.

 

It's too bad Hagerty won't deal in the old sleds. I put a claim in with them years ago and they were great to deal with. No bull, just proper repairs. The bill for the paint was 26k on its own with no body work and they paid it. Plus a new Legendary interior. Seems as though most other insurance companies are great right up until something happens. Always with that damn fine print. I had an insurance policy on some gold jewellery that got stolen and was told it had gone down in value by 60% because i had it 4 years. It held it's value when it was time to renew the policy but dropped like a rock when I needed to make a claim. And were talking gold. Thanks TD Insurance. Got broken into once, but robbed twice.

All this to say that even if you find someone that will hold this policy, I wouldn't be surprised if you're sleds all miraculously go down in value the moment you make a claim. I pay 12 bucks a month for the skandic and see it as nothing more than a piece of paper to keep the authorities happy.

 

It's too bad Hagerty won't deal in the old sleds. I put a claim in with them years ago and they were great to deal with. No bull, just proper repairs. The bill for the paint was 26k on its own with no body work and they paid it. Plus a new Legendary interior. Seems as though most other insurance companies are great right up until something happens. Always with that darn fine print. I had an insurance policy on some gold jewellery that got stolen and was told it had gone down in value by 60% because i had it 4 years. It held it's value when it was time to renew the policy but dropped like a rock when I needed to make a claim. And were talking gold. Thanks TD Insurance. Got broken into once, but robbed twice.

All this to say that even if you find someone that will hold this policy, I wouldn't be surprised if you're sleds all miraculously go down in value the moment you make a claim. I pay 12 bucks a month for the skandic and see it as nothing more than a piece of paper to keep the authorities happy.

For the collector stuff, we would need an agreed value and possibly an appraisal. With Intact(special plan for collector vehicles) with my Turbo Regal, I need an appraisal every 5 years or so to keep the agreed value current. I was going to switch to Hagarty, but Intact was pretty competitive. As you said, Hagarty seems great. i have friends with them and no issues and not even an appraisal. The lady told me she wishes they could cover vintage sleds, and have been trying. Perhaps if we enquire, at least they will know there is a demand and work a little harder. I don't see how sleds are any different from anything else. One thing you have to watch is all the details even with Hagarty, no driving to work, shopping, no lending the car etc.

 

Agreed...the hagarty plans aren't for everyone. They don't give me a mileage limitation but they do stipulate all the conditions you mentioned. I don't require an appraisal. Just had to send pics of the car and where I store it. They took the value I have them and built a policy around that....i don't see what's so complicated about all this...as you had said earlier, all they are doing is insuring money. Collectors are very unlikely to put in a claim and present a low risk. I haven't driven my car in a couple years and it lives in its own trailer. Pretty low risk as long as I shovel off the roof. I'm sure your collection is just as safe and sound. Any pics Pete? You have a lot of gems listed. I'll bet they look great all lined up!