Classic insurance for part of the fleet

I have 4 (soon to be 3) cars

2022 Gladiator: Primary car
1999 E36: Ex daily, now friday night cruiser, soon to be sold I hope
1996 Cherokee: Ex daily, promoted to surf wagon
1979 300SD: Race Car, hasn't been on the road in 3 years

Up until the gladiator I was paying 75 a month. Now 163 a month. 32yo male with a perfect driving record.

I would love to drop my payment and know that for a rarely driven car, Classic can be a good solution. The E36 would be a good candidate for it, but hopefully sold soon. The Cherokee is old, but would a classic policy cover some random old jeep? The Benz is truly a classic, but it's caged and gutted and modified so would that cause me trouble?

I can prove that I've got a fully insured daily and I can show available indoor storage for all the cars.

Thoughts?

Sounds like a perfect fit--I had my 300SD on a classic policy, and my Trooper is still on one with the race car. 

Here's some background reading:

https://grassrootsmotorsports.com/articles/why-you-need-specialty-insurance/

Who are you insured with? What is your trooper like?

I have my Corvette with Hagerty. I also have my very mundane 1997 Chevy C1500 pickup on the Hagerty policy. Hagerty didn't even blink when I added the pickup. I drive it maybe 1500-2000 miles per year, which I told them.

I keep my daily driver (Corolla) on normal insurance at All State. That's the car that I use for virtually all of my driving.

Do you have a personal liability umbrella policy over your cars, house, etc.?

If not and you have assets worth more than your policy limits (probably $300K or $500K) I would strongly recommend looking into this coverage. It's cheap and provides an additional $1 million or $2 million in liability coverage, plus legal defense costs.

If you do get the classic insurance, make sure your umbrella includes this car. That's important!

(I have USAA for home, regular cars, and umbrella. Unfortunately, they did not cover Hagerty's classic insurance in my case. I ended up with American Collector Insurance. Your situation may be different.)

This must be handled differently by each insurance company.

We have a 2021 Wrangler, our 2017 e Golf and our 2005 RAM 2500 on "regular" insurance.  I have American Collectors covering my 1966 F100 and my 2008 Mustang GT.  When I still also owned a 1999 Volvo V70, American Collectors told me they would not insure it because it was not a collectible or classic vehicle.

In reply to buzzboy :

I'm with Chubb, and here's the Trooper. It's definitely on the edge of what they'd accept, though, and I had to plead my case. Having some actual classic cars on the policy probably helped, too.

I have our track Miata and Capri on agreed value policies with Grundy.  Both are caged track cars, and they were OK with that.   No track coverage, but I wanted agreed value coverage for both cars for the very limited amount of time they're on the street, and in case of theft.  I don't know how they'd feel about "some random old Jeep"...

I didn't save a ton of money over my previous coverage, but with an agreed value, they won't be trying to tell me my '92 Miata is only worth $4k...

My policy renewal for my fleet of five street cars was going to be $8000 this year. Three drivers, no violations, one 19 year old, in college with a good GPA. 
 

2014 Mazda five, 1999 Miata, 1988 Silverado, 2004 Lancer Ralliart wagon, 2008 Honda Civic (not an SI) coupe. The Honda was going to be $4000 of the total. 
 

Dropping the umbrella policy cut it to $4000 for the year. 

Definitely call the different classic insurance companies, too, as things can vary from company to company and state to state. (I also have cars with a classic car insurance company and, while wearing my Classic Motorsports hat, have written about this topic a few times over the years.)

I've used Grundy and Hagerty over the years. Grundy is great for the price but requires garaging to issue coverage (even though it's technically not in the contract). Hagerty seems more flexible about racecars and parking outside, plus their website is way easier to use.

I have Hagerty on four of my cars - all three Triumphs and my 2006 MINI.  2017 daily driver with full coverage.  No complaints. They paid out for my Mini when I wrecked it.  I agree their website is easy to use for things like getting cards and uploading photos.  Hagerty has no yearly mileage maximum, which apparently some companies have.  Not an issue for me, but not having to deal with any monitoring hassles is nice.