I currently have my 76 insured with Hagerty. One thing that is bothering me is that I have to pay the higher "modified " premium just because my L48 has some very mild mods. Edelbrock heads, headers & a very mild cam, (Crane energizer 266). This thing runs good,but far from being a "hot rod" as I would define the term. I emailed them last year & asked them about the miner mods & they replied that it would have to be insured as a modified vehicle. My policy is up for renewal soon & I am wondering if I should shop around elsewhere. Or try again to convince Hagerty that it is
not a Hot rod! Any suggestions?

 

I insured mine through American Collectors and they never asked about the mods.

 

With the exception of the headers everything you have listed is internal and no one would ever know unless you told then when you filled out the application
JU

 

Shop....disclose nothing....

 

While you have been given quick advice, I caution it is not good advice. Material misrepresentation is grounds to void coverage. Do not take that chance. While I am a fan of Hagerty, because of the way they handle claims, there are literally dozens of collector car carriers, each defines modified differently.

So shop if you like, but disclose.

David

 

I agree with KYCelt. What I meant was to answer their questions but not to disclose information unnecessarily.

 

Yipes. You all scare me. I just insured my "new" vette (81) with Progressive (they are gentle to me with all my tickets...ugh). They did not ask anything about the car, and I sure didnt offer anything (mostly because I don't know much). All I did was ask for comp and collision with 250/250. Do I need special insurance for an older vette?
Thanks,
Chrissi

 

Progressive tried to pay me $1500 for my '80 vette, when I totalled it. NADA at the time was $7200 for a below average daily driver. I learned the hard way about "agreed value".

 

I just finished shopping around and I'm going to go with Haggerty.

They are the only company who said it was
OK to drive to work '3 or 4 times a year' and they allow for 3500 miles/year.

One of the other companies allowed for up to $1000 of modification FWIW.

How much is Haggerty nailing you for the mods? They quoted me $360 for $40K coverage on my '70.

Jim

 

modified cars are double the comp and collision rates, they are great for multiple cars on the policy

 

$309 for $16000 agreed value.

The premium for stock would be under $200.

I do not want to mislead the company, I figure in the event of a serious claim it could come back to haunt me. I just feel that a car with the mods that I have shouldn't cost much more if any than a completely stock vehicle. My daily driver is considerably faster than the vette

 

"classic car" insurance companys have tons of fine print...you can not take the car to pick up a pizza, take it to work, take it out for a Saturday joy ride...anyone who thinks they are insured for a cheap price and breaks the rules of their policy is only kidding themselvesbeing dishonest, and bragging to others how cheap their multi-thousand dollar policy is worth...and you wonder why the country is falling apart

 

Have you tried Grundy's? Here's there web sight www.grundy.com

 

I want insurance that has agreed value, and allowes me to go to drive to a resturant or to work once in a while and leave the car unattended. I don't really care about the cost as long as its not more than I pay for my regular daily drivers.

I currently have insurance through Sneed (they had it underwritten by Travelers) that allowed me to drive without restrictions (except racing) and I had an agreed value (not stated value) of $30,000. It was great. And it only cost about $450 per year. But they (Sneed) no longer offers this ins through Travelers so I have to get new insurance by the end of March. I've read all of the insurance posts here and just called American Collector Car Insurance because their web site suggested a more liberal usage. But when I asked the customer service person about driving and stoping at a restruant to eat she said " oh no, you cannot go to any resturants." She went on to explain that the wording on theit web site means that if you go to a car show that you don't have to stay with your vehicle the whole time. But otherwise it is as restrictive as the other "Collector car" sites.

So the search is still on. I still have to call State Farm, etc. to see if someone offers agreed value for a semi-daily driver. We'll see.

 

Yes, Progressive only does "stated amount" on older cars. This means they pay out the amount you stated when you bought the policy, OR the actual cash value (peanuts) - whichever is less. You need to find a place that does "Agreed Value" or "stated value" where you and the company both hammer out a number that the car is insured for. I don;t have a lead on where you can get that and have it be your daily driver though.

 

Wow! And here I thought it was because of self serving politicians. Go figger!

I have Hagerty on my 69 BB Vette and my 69 Mustang convertible. The stated value for the Vette is $38,000 and the Mustang is $28,000 (I'd have a garage fire if half of my house wasn't sitting over it). My annual premium for both cars is $462. I've spoken personally with Hagerty customer service and they assure me that there is no hard mileage limitation on my policy and that the car would be covered if occasionally used to drive to work (they said they encourage their staff to bring in their vintage cars if they have them). They also told me that, if I took the car to the store in the course of pleasure driving, they would still cover it. Their only restriction was that the car not be used in daily driver service.

BTW, I agree that you don't have to disclose everything about your car. My Mustang has lots of internal modifications, but none beyond a 4V carb and headers that you can see. You don't think the insurance company is going to examine your camshaft or your pistons after and accident, do you?

 

Progressive stinks ! They are glad to sign you up at a low rate , then increase your premiums every time you renew.

 

I have Condon and Skelley (division of Met Life) My '69 is considered "modified" because it has TPI fuel injection. I still pay only $350/yr for $25k agreed value. I have never had a claim, but my regular insurance agent (Farm Bureau) says they are good with claims.

 

We are both looking for same kind of coverage. I called my broker and he told me the only compnay he found offering unrestricted uaage and agreed value is Safeco. I didnt not sign with them yet as they want an updated appraisal and currently in Chicago we are under 8 inches of snow. But as soon as weather clears in the spring I will be checking them out.

 

This is what I have on my '79 from Hagerty's. They told me that they know people will take it to work to show off to their boss. But it just can't be your daily driver. I have no milage restrictions, but in reality the car that you don't use every day will not get many. It's also has to be stored in locked garage.

The only thing they questioned me on, is that my daily driver is a 1984 Cadillac Eldorado. They questioned me if the vette will be used as backup in case the Eldo breaks down. I told them that it wasn't, and they were cool with that.