[mrtexas]

The idea with any antique car insurance is they send pictures out to an underwriter and won't insure a $500 car for $5,000. This will be the same for any insurance company. I had an unrestored 41 woodie without any wood, looked like hell. They would insure it for what I paid. They would up the amount by what I spent on it if I showed them receipts. IMHO you are way better off with any antique car insurance than standard insurance unless you drive it every day. With standard insurance the car gets depreciated for milage etc.

I own a 2004 Toyota MR2 which is a semi collector car. Book value for the car is around $5k as a used car. Paid $11.5k for the car with 7k miles in 16 years in like new condition. I drive it every day so can't get collector car insurance on it as they won't insure a daily driver. So I have liability only figuring paying $1000/year for collision would not be worth only getting $4k if totaled.

Also not a good idea to drive your collector car to the grocery store or work as the insurance is for pleasure driving only. If you don't follow the insurance restrictions you can end up not getting paid for an accident.