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Originally Posted by jordan 572
how does he pay insurance
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It actually would not be that bad. You would insure the collection with someone like Lloyds of London against loss (since the value of most of those cars is so high you insure them like you would a high value painting or other collectible). You could then either cut a deal with an insurance carrier for blanket liability insurance that covers any car in the collection, or you can become what is known as self-insured. You post a $35,000 bond with the DMV and that acts as your proof of insurance that you could use with any vehicle. Since the money is a bond it is just money that sits in an account earning interest for you but you cannot spend it. Any liability for damage caused in the event of an accident would be covered then out of pocket or most likely out of an umbrella policy or such.