Classic Car Insurance: 50 Years of Classics

This year is momentous for many classic car enthusiasts. Why is that? A number of classic vehicles are celebrating their 50^th anniversary, and most of these classics were quite loved. In fact, 1964 introduced two of American’s most-loved muscle cars- the Pontiac GTO and the Mustang. Another notable classic car celebrating 50 years is the Excalibur. These classic cars are considered by many to be icons worth spotlighting.

Pontiac GTO

We highlighted the ’64 Pontiac GTO in a previous post, pointing out how this was considered a car with “attitude”. The vehicle had a bigger V8 than previous cars, hood scoops, dual exhausts, a Hurst shifter, racy trim, and a name inspired by the Ferrari 250 GTO. 1964 was the first year the Pontiac GTO was introduced, and first-year orders came to about six times the number Pontiac management expected!

1964 ½ Mustang

The Ford Mustang was brought out five months before the normal start of the 1965 production year, introduced on April 17, 1964 at the New York’s World Fair. Due to its early introduction, it was dubbed as the “1964 ½” model. The Ford Mustang has been credit for inspiring the designs of coupes such as the Toyota Celica and Ford Capri, which were imported to the U.S.

Excalibur

In 1964, Studebaker consultant and renowned industrial designer Brooks Stevens sketched out a concept car on a restaurant place mat. He had been asked to design a “show car” for the 1964 New York Auto Show, and Studebaker wanted a “show stopper” for their exhibit, according to sources from conceptcarz.com. The prototype was built in just eight weeks, and although Studebaker initially decided to phase out production, over 3,500 Excalibur vehicles have been shipped to dealers and distributors around the world since 1964.

No matter what type of Antique or Classic Car you own, we can insure it at Condon Skelly. Since 1967, we have been helping our customers protect their classics with affordable, industry-leading insurance coverage. We are a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. Please contact us today for more information.

What to Consider When Making a Classic Car Investment

In November 2013, we discussed a couple reasons why classic cars make a good investment. Financial advisors today are looking at classic cars for investor’s profiles, and many classic cars are rising in value. However, although classic cars can definitely be a good investment, it’s imperative to consider your purchase and make sure that investing in any particular classic car will be a good fit for you.

Classic cars carry the potential for a huge profit if you plan on refurbishing (correctly) it and selling it. They also have a “cool” factor which is the appeal for many collectors. But before you make a classic car investment, there are many things to consider.

Ryan Guina, classic car owners and publisher of Cash Money Life, states that you should never buy a classic car on a whim. “It’s important to familiarize yourself with the market before buying so you know you’re getting a reasonable deal,” he says.

In addition to being mindful about your classic car investment, you should think about whether you will need or want to drive this vehicle on a regular basis. It’s not typically recommended that a classic car be an everyday vehicle, for wear and tear purposes as well as classic car insurance purposes. While you may not want to purchase a classic car you aren’t going to do anything with, you also don’t want to devalue the car or need to pay high auto insurance premiums.

One more factor to consider when making a classic car investment is maintenance costs. If you are only driving the vehicle minimally, you may not ever need extensive repairs. However should something happen, it’s important to realize that classic cars can be expensive to fix since parts are not always readily available.

At Condon Skelly, we understand the appeal of and desire for classic cars. We are able to insure a wide variety of collector vehicles, from original antiques to brand new exotic sports cars, as long as the vehicle is a true collectible. For more information, please contact us today at (866) 291-5694.

Classic Car Insurance: The Elusive 1983 Corvette

Most classic car enthusiasts by now have heard of the sinkhole that occurred in early February 2014 and damaged 8 of the classic and antique Corvettes on display at the National Corvette Museum in Kentucky. Fortunately, no people were present at the time that the sinkhole happened. Luckier still, the official insurance agent for the museum says there is no coverage concerns regarding the incident. Michelle Montgomery, director of quality control, said that they had tailored coverage to fit the needs the museum, adding that the value of the vehicles are based on appraisals the museum obtains regularly and insured to an agreed amount in the policy.

Although the vehicles affected will be restored to their full monetary value, car enthusiasts and museum employees are glad the situation wasn’t any worse, given the unique and rare cars they have on hand. In fact, client services manager and claims manager Phyllis Milliner says that some of the most valuable cars they have were spared from the sinkhole, even though they were only feet away. One of these vehicles that seems to be particularly fortunate is the 1983 Corvette.

If you are asking yourself, “What 1983 Corvette?” you aren’t alone. There has been a general consensus amongst those who know the Corvette’s history that there was no 1983 model. This model year Corvette was never actually released to the public, as it featured so many advances that it would have taken too much time to validate and go through the government-approval process. Over 40 1983 Corvettes were actually made, however they were all either destroyed, or repurposed for the 1984 model year; all except for the one in the National Corvette Museum.

The museum’s communications coordinator Bob Bubnis speculates that it would have been catastrophic had the only existing 1983 Corvette been lost in the sinkhole. He said that after the sinkhole, the vehicle was safely removed from the area as soon as people were able to safely get into the Skydome. People are calling this unique vehicle a “legend” that will keep living on as the years go by.

Whether you own a classic Corvette or any other type of classic or antique car, it’s important to protect it financially with the right type of Classic Car Insurance Coverage. At Condon Skelly, we know how exciting it can be to start a classic car collection. We’ve been helping our customers protect their classics with affordable, industry-leading insurance coverage since 1967. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. For more information, please contact us today at (866) 291-5694.

Classic Car Insurance Determining the Market Value of Your Vehicle

Classic Car Insurance: Determining the Market Value of Your Vehicle

Whether you are buying or selling a classic car, you will have many financial considerations to make. If you are buying, you’ll want to purchase classic car insurance as soon as your vehicle purchase in made. In addition, you will of course want to determine the vehicle’s fair market value. There are many publications in existence that can help you determine what that value is, including the Old Car Buyers Guide, Hemmings, Collectible and Special Interest Car Appraisal Guide & Directory, and more. Their price guides rate a car’s value using 6 categories according to their conditions, a system frequently referred to as the “100 Point System”.

How do you implement this system? 20 categories are rated on a scale of one to five, using five as the maximum value. Then total your points for all 20 categories. These categories include; inspecting and rating the exterior, inspecting and rating the paint, glass, and trim, checking the operation of the engine, and more. Once the points are totaled, they should be compared to the 100 point maximum. Use this six category valuation to determine the fair market value of your vehicle.

Category 1: 90+ points

This is a classic car that rarely moves. It may sit in a museum or other type of temperature and humidity controlled area. When it does move, it goes into an enclosed trailer to a national car show where it has a good chance of winning first place.

Category 2: 80-89 points

This is an almost flawless car. Classic car experts can typically tell you if there is anything wrong with this car. It is very often mistaken for a Category 1 car.

Category 3: 70-79 points

This car is a show quality vehicle, and is the car that most hobbyist collectors own. It’s not perfect but it’s close enough for the car enthusiasts and owner. It might have some non-original parts and upgrades but nothing that would keep it from becoming a Category 2 with some time and money invested.

Category 4: 60-69 points

This is a functioning car in fair condition that you could use as a daily driver. It’s important to note however, that there are certain provisions for mileage when it comes to classic car insurance.

Category 5: 40-59 points

This car is more or less complete but needs major restoration. Buying a car in this category is considered a risk by many classic car collectors, unless you’re not worried about spending more than it may be worth.

Category 6: Any car under 40 points

Many classic car enthusiasts will say that this is a car that is simply not worth investing any time or money in, even if you want to attempt to sell it.

At Condon Skelly, we know how exciting it can be to start a classic car collection. We’ve been helping our customers protect their classics with affordable, industry-leading classic car insurance coverage since 1967. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. For more information, please contact us today at (866) 291-5694.

Classic Cars: Exploring the Generations of Ford Mustangs

Ford Mustangs have been called a “pillar of American automotive lore”, and referred to as the car that brought sporting dash and styling at a price almost anyone could afford. While the Mustang has never been considered an exotic car, it still has had a way of capturing the hearts of drivers for nearly 50 years. Even though it’s just an ‘ordinary’ car, it’s always been considered an attractive car.

The history of Ford Mustangs can be broken down into six generations, but we’ll only be discussing the first four. The first generation, defined as the period between mid-1964 and 1973, includes vehicles such as the classic Shelby Mustang lineup, Boss Mustangs, K-Code Mustangs, the “Bullitt” Mustang GT-390 Fastback, the original Cobra Jets, and all the other Mustangs most folks consider “classic”.

The second generation (1974-1978) of Ford Mustangs was coined as the “Pintostang” generation. This is because the cars were based on the Ford Pinto platform. They were smaller and more fuel efficient, however they were considered too small, underpowered, and ill-proportioned by many potential buyers of the time. The third generation (1979-1993) improved, as it encompassed more years than any other generation in the history of the car. Coined the “Fox Body” Mustang, this car was based on the Fox platform. This generation of Ford Mustangs was also known for its powerful 5.0L V-8 engines.

The fourth generation, and the last generation that Ford Mustangs that can be considered “classic” until 2019, started with the introduction of the SN95 Mustang. This generation of Mustang, which lasted from 1994 until 2004, produced a car that was based on the SN-95/Fox4 Platform, and was larger than the previous generation. This car was engineered to be stiffer in design that past models. In 1996 the popular 5.0L engine was replaced with a 4.6L modular V-8 engine. This generation spawned the “New Edge” line of Mustangs in 1999. Although the cars looked different, they were still based on the SN-95 platform.

Whether you own a classic Ford Mustang or any other type of classic or antique car, it’s important to protect it financially with the right type of insurance coverage. At Condon Skelly, we know how exciting it can be to start a classic car collection. We’ve been helping our customers protect their classics with affordable, industry-leading insurance coverage since 1967. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. For more information, please contact us today at (866) 291-5694.

Classic Car Insurance: ’64 Pontiac GTO

The 1964 Pontiac GTO was a car with ‘attitude’- a bigger V8 than previous cars, hood scoops, dual exhausts, a Hurst shifter, racy trim, and a name inspired by the Ferrari 250 GTO. The moment that the ’64 Pontiac GTO went on sale is often credited to be the start of the classic “muscle car” era.

This car came three ways. There were the expected sporty-car styles of the day, a convertible, and a two-door hardtop. There was also a coupe with a fixed B-pillar, which Pontiac called the Sports Coupe. The Sports Coupe was 20 pounds lighter than the hardtop and 150 lighter than the convertible, with the lowest starting price of all the models, making it the most popular.

The basis for the first 10 years of GTOs was GM’s “A-Body” platform, upon which midsize care for every General Motors marketing division except Cadillac were built. In 1964, that meant the A-Body chassis was found under the Buick Skylark, Chevrolet Chevelle, Oldsmobile Cutlass and Pontiac Tempest lines. Sportier versions of each of those cars were available with small (for the time) V8 engines, but only Pontiac dared to install a truly large V8 in its Tempest in ’64, and when a Tempest had a 389-cubic-inch V8 under its hood, it was a GTO.

The GTO package included the 389 V8, quick steering, dual exhaust, and premium tires. The 389 cid engine came with 325bhp with a single 4bbl carb or 348bhp with the optional Tri-power setup, 3 2bbl carbs. While Pontiac hoped to sell 5,000 copies, they ended up selling 32,450 of them.

Whether you own a GTO or any other type of Antique or Classic Car, we can insure it at Condon Skelly. Since 1967, we have been helping our customers protect their classics with affordable, industry-leading insurance coverage. We are a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. Please contact us today for more information.

Classic Cars: The History and Evolution of the Bugatti Brand

Unlike other automobile companies of its time, the story of Bugatti is not that of a company that had to face countless financial problems, nor is it one of a company who had to rely on establishing sales venues or building plants across the Atlantic. Instead, the story of the Bugatti is that of a young visionary who came from a long line of artists and artisans. Born in Milano, Italy in 1881, Ettore Bugatti was on a path to become an artist, however decided to become an engineer when he was just 17 years old.

At this time, the young Ettore Bugatti started working and in only one year, he had designed and built a three-wheeled vehicle powers by two engines. Despite its small size, this prototype almost wiped clean the prized thrown in at the local races, having won an amazing 8 out of 10 events.

By the age of 19, he had just completed building his first real car. Considering the overall technological development at the time (in the beginning of the 1900s) his automobile seemed almost futuristic. The auto featured a four speed gearbox, a four-cylinder overhead-valve engine, and a variety of engineering improvement that only a gifted builder could have come up with.

In 1911, Ettore Bugatti decided to build a small, lightweight racing machine to compete in the Le Mans race. Although it was a tiny can in comparison to its giant competitors’ cars such as Fiat, De Dietrich and others, the small but swift and powerful automobile came in second, proving that Ettore was a more talented car designer than many of the older engineers at the time.

In the following years, Ettore Bugatti had many more automobile victories, with his last great one happening in 1939, when at his son’s request, the company prepared a supercharged Type 57 which won at Le Mans. Unfortunately, also in this year, his son passed away during a testing run of the same Type57 car, and a few days later World War II broke out. Given these circumstances, production of the Bugatti was halted.

After the war, several attempts to revive production were made, but there was never a distinctive result. German car maker Volkswagen took over the company in 1998 in an effort to revive the sports luxury brand, and maintains ownership of the brand today.

Whether you own a Bugatti or any other type of classic car, it’s important to protect it financially with the right type of insurance coverage. At Condon Skelly, we know how exciting it can be to start a classic car collection. We’ve been helping our customers protect their classics with affordable, industry-leading insurance coverage since 1967. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. For more information, please contact us today at (866) 291-5694.

Classic Cars: A Look at the 1957 Cadillac Eldorado

When it comes to classic cars from the 1950s, glitter was good, bigger was better, and too many accessories were just right in the age of neon. So it was only natural that when the 1957 Cadillac Eldorado came around, automaker Harley Earl’s styling team pulled out all the stops. They contributed multiple new ideas, including four-door hardtop sedan bodywork, with side windows that disappeared completely, frames and all. The car also featured rear-hinged rear doors, a throwback to the 1930s, and a broad, sparkling brushed stainless steel roof.

Another great feature of this classic car was the list of power accessories. The trunk lid and rear doors not only opened with a push of a button, but they closed with one too, and the doors would lock automatically when the transmission was put in gear. This car was so fully-equipped that even the glove box came filled, which was perhaps this car’s most distinguishing feature. No other classic car included a lady’s vanity case with a compact, powder puff, comb and holder, lipstick and coin holders. In addition, the glove box held six drink tumblers, a tissue dispenser, and a cigarette case. The rear seat armrest was equipped as well, opening to reveal a notepad and pencil, a mirror, and a perfumer atomizer, which came with a complimentary ounce of Arpege by Lanvin.

The Cadillac Eldorado was originally only offered as a convertible, but in 1956 Cadillac decided to extend the Eldorado product line to include a coupe, for which they chose the name “Seville” to distinguish it from the convertible, which because the “Biarritz”. The “Brougham”, a sedan, was another model introduced this year.

Whether you own a 1957 Cadillac or any other type of classic car, it’s important to protect it financially with the right type of insurance coverage. At Condon Skelly, we know how exciting it can be to start a classic car collection. We’ve been helping our customers protect their classics with affordable, industry-leading insurance coverage since 1967. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. For more information, please contact us today at (866) 291-5694.

Indian Motorcycles through the Years

The Indian Motorcycle Company, America’s first motorcycle company, was founded in 1901 by engineer Oscar Hedstrom and bicycle racer George Hendee. Hedstrom began affixing small engines on Hendee’s bicycles, and from there, they quickly honed their craft, creating some of the best motorcycles of that era. Just one year later, the first Indian Motorcycle that featured innovative chain drives and streamlined styling was sold to the public. Then in 1903, Hedstrom set the world motorcycle speed record, traveling at 56 mph.

The Indian brand rolled out production two years before Harley-Davidson, and these motorcycles quickly became a force to be reckoned with, introducing the first V-twin engine, the first two-speed transmission, the first adjustable front suspension, the first electric lights and starter, and many more innovations. Indian was clearly dominant in the marketplace in its beginnings, consistently setting and breaking speed records.

The motorcycle wasn’t always called such. When motorcycles began to appear in the late 19^th century, there was uncertainty about what to call them. Some people called them “motocycles”. In 1923 The Hendee Manufacturing Company chose to use this term, changing their name to the Indian Motocycle Company. It was in the 1930’s that “motocycles” became known as motorcycles.

Following WWII, Indian Motorcycles struggled with re-entry into the public market and Indian was forced to halt production in 1953, despite the Indian Chief being re-introduced two years prior as a mighty 80-cubic-inch model. The following decades involved a complex web of trademark rights issues that foiled numerous attempts to revive the Indian name. But in 1998, several formerly competing companies merged to become the Indian Motorcycle Company.

It wasn’t until very recently that a new era of Indian Motorcycles was born. The Indian Thunder Stroke III engine was introduced at Daytona Bike Week in March of this year, and the 2014 Indian Chief was unveiled at the Sturgis Motorcycle Rally in August. Many motorcycle enthusiasts agree though, nothing compares to the classic and antique Indian Motorcycles.

No matter what type of classic or vintage motorcycle you own, we can insure it at Condon Skelly. Your vehicle will fall into the antique category if it is completely original and at least 25 years old. We insure many different types of antique cars, trucks, and motorcycles so we’ll be able to craft the perfect policy for your vehicle. Please contact us today for more information. (866) 291-5694

Top Reasons to Purchase Classic Car Insurance

The biggest difference between a standard auto insurance policy and a Classic Car policy is that you will be paying more for the standard policy, since you are paying for a vehicle that is driven on a regular basis in this case. Most classic car owners only plan on driving their vehicle for the occasional parade or show.

Another major difference between classic and regular car insurance, and a reason why you should insure your classic car, is the way the value of your vehicle is determined. For example, a 1974 model of a car may have sold for $1400 when it was new, but dealers might now offer $15,000 for that vehicle. So, if the vehicle is totaled and you have classic car insurance, you can expect to receive what the car is currently worth. However, if you had insured that car with standard insurance, you’d be lucky to even get the original $1400 back.

Basically, it is much more cost effective to purchase Classic Car Insurance than it is to buy a regular auto insurance policy. The fact that a classic car is an older car means that it is vulnerable to high maintenance and repair costs. Purchasing a lower cost insurance policy means that you will be able to save money and put it towards restoration instead.

At Condon Skelly, we know how exciting it can be to start a classic car collection. We’ve been helping our customers protect their classics with affordable, industry-leading insurance coverage since 1967. We’re a group of collectors, enthusiasts, and professionals who specialize in insuring all types of collector vehicles. For more information, please contact us today at (866) 291-5694.