Insurance Help for Collector Cars
07-06-2015, 10:55 AM
#1
Racer
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Insurance Help for Collector Cars
Just wondering if any of you folks have your Collector Vehicles insured with Heacock.
I'm in the process of filling out the paperwork with photos; We have agreed on a value, just wondering if any members have any input into dealing with this company? Thank You, MLC
I'm in the process of filling out the paperwork with photos; We have agreed on a value, just wondering if any members have any input into dealing with this company? Thank You, MLC
07-07-2015, 09:37 AM
#3
Burning Brakes
Just wondering if any of you folks have your Collector Vehicles insured with Heacock.
I'm in the process of filling out the paperwork with photos; We have agreed on a value, just wondering if any members have any input into dealing with this company? Thank You, MLC
I'm in the process of filling out the paperwork with photos; We have agreed on a value, just wondering if any members have any input into dealing with this company? Thank You, MLC
When I used Heacock they used to use American Modern to back them and I found the Corvette Museum Insurance also uses American Modern and the prices seemed to be the same.
07-07-2015, 11:02 AM
#4
Burning Brakes
I have my 3 older Corvettes insured for agreed value of 95k each and I need to increase the coverage on my latest 56 project.
07-07-2015, 11:53 AM
#5
Burning Brakes
My fully restored '57 Bel-air 2 door hardtop was stolen in April. I had an agreed value policy with American Bankers Insurance Company of Florida. It took 3 months but they paid up last week. I've been with them since 2005 and never had a claim until now.
07-10-2015, 03:56 PM
#6
Team Owner
Thank You Folks, I'm in "Uncharted" territory with this insurance thing.
A friend some years back had a 75 L-82 4-sp restored. He totaled it in a roll over accident.
Since he was in the hospital in a coma, his wife asked me to sit in on the adjusters meeting.
I had restored the Corvette, and represented him. I was able to get them from $3500.00 to $10,000.00.
I have a vehicle that if totaled or stolen would be a 60k loss, over the amount they would likely pay; Therefore checking into alternate stated amount policy.
The company has agreed with myself on a value, I was just looking for help with who others have.
Anyone is willing to take one's money, they love that; It's just when it's time to pay up, now that is money of a different kind...
A friend some years back had a 75 L-82 4-sp restored. He totaled it in a roll over accident.
Since he was in the hospital in a coma, his wife asked me to sit in on the adjusters meeting.
I had restored the Corvette, and represented him. I was able to get them from $3500.00 to $10,000.00.
I have a vehicle that if totaled or stolen would be a 60k loss, over the amount they would likely pay; Therefore checking into alternate stated amount policy.
The company has agreed with myself on a value, I was just looking for help with who others have.
Anyone is willing to take one's money, they love that; It's just when it's time to pay up, now that is money of a different kind...
Do an AGREED VALUE...
07-16-2015, 06:19 AM
#7
Safety Car
Here's a really comprehensive article I wrote for Vintage Motorsport magazine on insurance. Collector car insurance can get really complicated.
Richard Newton
Richard Newton
07-16-2015, 03:28 PM
#8
Burning Brakes
I've covered my collector cars with J.C. Taylor for almost 20 years, and they have been great. Rates have remained stable. Every year we update the agreed value of the cars. I've added and deleted cars as they have come and gone, and they are always easy to deal with. I've only had one claim, when I hit a deer 10 years ago with a 1972 V-12 Jaguar XKE coupe. They sent out an adjuster quickly, we settled the amount fast, and I got a check in hand before the restoration started. And no jump in rates after the claim. I'm very pleased with them, and found their rates good when I've shopped around. Just a thought.
07-20-2015, 10:41 PM
#9
Safety Car
Member Since: Feb 2007
Location: Northern California CA
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Speaking from experience, American Modern is a stand up Insurance Company!
Paul Naber in Ohio was the adjuster. Also a stand up guy!
I'll stay with them as long as they'll have me.
Paul Naber in Ohio was the adjuster. Also a stand up guy!
I'll stay with them as long as they'll have me.