Finally something that is in my wheelhouse.
I'm an insurance agent representing quite a few companies in WA, ID & OR. I would have a hard time finding insurance with one of the collector car market if the customer did not have a personal auto policy for the daily driver. The issue is that if the daily driver policy doesn't exist the collector car policy becomes a potential carrier if the policy holder borrows another persons car and gets in an accident. The policy on the borrowed car is primary but if there isn't enough coverage or no coverage the collector car policy can get drug into the claim, or atleast thats the concern. The collector car policies aren't priced to account for that.
Regarding exclusions, there are more exclusions in these policies than just class of driver issues. If the policy says we won't coverage the auto if you are driving it doing X. You better not get in an accident doing X. And if you are with a surplus lines carrier you better make sure you read and understand the exclusions. Surplus lines companies have greater liberty in drafting the exclusions. In WA the state commissioners office isn't alot of help if you get sideways with a Surplus Lines carrier. I write alot of surplus lines business, but I would never do it for a collector car or any other policy where there are non surplus lines markets.
And lastly make sure you get agreed value, not stated value, those are two entirely different terms. Agreed value says we will pay X, no questions asked. Stated value says will will pay X or actual cash value, whichever is less.
