Insurance advice
Thread Starter
Racer
Joined: Feb 2008
Posts: 357
Likes: 3
From: Madisonville Kentucky
Insurance advice
I have had my two corvettes insured through Hagerty for more than five years now since I purchased the cars. I have had absolutely no claims at all, however, Hagerty continues to raise my premium rates every year. I am now paying 35% more on my annual premium than I was 5 years ago for the exact same coverage. I am contemplating making a change to another company instead of renewing with Hagerty. I have seen on another thread where people are saying good things about NCM Insurance. Anybody have any history with them in regards to how they are to deal with on claims? I know people say good things about Hagerty as far as paying claims. I just don't want to switch companies to get a lower premium if the company I am switching to is one that is hard to deal with on claims should an issue arise. I have also been looking at Collector Car Insuarnce Company. Please advise and thanks in advance for everyone's help/advice.
Le Mans Master
Joined: Feb 2011
Posts: 5,783
Likes: 400
From: Paoli, IN
St. Jude Donor '17, '19
I haven't done any claims with NCM but they are very helpful people. Its staffed by enthusiasts so they care about the cars just as much as you do. That is what makes the difference, they actually care.
The rates are great.
The rates are great.
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Thread Starter
Racer
Joined: Feb 2008
Posts: 357
Likes: 3
From: Madisonville Kentucky
Thanks for all the suggestions guys. I have obtained a couple of quotes that are MUCH cheaper than Hagerty. It really burns me that insurance companies raise rates by double digit percentages every year even if you have never had a freaking claim. I think the only way to keep that in check is to add a little competition to the mix by dropping them and changing companies. Otherwise, if there never is any reprocussions to them raising their rates, they will continue to do so. I think they are just jumping on the band wagon and trying to make hay while they can since the prices for everything else in this country have gone through the roof the last few years.
Racer
Joined: Oct 2009
Posts: 256
Likes: 1
From: Burbank, Ca
I went with Ameriprise Ins. I saved half on all my personal cars, But on my 69 Vette I had at the time they wont not insure with collision if the car is 40 years or older. 250/500 Liability was $ 77.92 every 6 months.
Cruising
Joined: Sep 2012
Posts: 12
Likes: 0
Funny thing about Hagerty (found out the hard way) your guarantied value does not come in play when involved in a body shop repair, 70% is the number you have to work with, so boys and girls adjust accordingly. Oh yeah and in my area the adjuster is sub contracted(Mean no harm but what does a 23yr old know about a 69 vette that he has seen for the first time) I take partial fault for not reading the fine print. The older I get the more expensive my mistakes get. If it helps someone else I'm good with it.
Race Director
Joined: Apr 2007
Posts: 14,062
Likes: 602
From: Henderson Nv-Rohnert Park/Sonoma C o. ca/born in NY Rockaway Beach.
I have Hagerty for 3 years now.... And 4 days after I got it I had a little accident that cost them a 100K pay out not including the repair of my car of about 3k...
I have never had a rate hike since.... I was never bothered at all after my issue , no calls from anyone... I Was just sent the paperwork to sign off on the claim.. was the best experiance I have ever had with Ins...
Maybe you need to call them to see why your rates keep going up..
I have never had a rate hike since.... I was never bothered at all after my issue , no calls from anyone... I Was just sent the paperwork to sign off on the claim.. was the best experiance I have ever had with Ins...
Maybe you need to call them to see why your rates keep going up..
Pro
Joined: Feb 2000
Posts: 741
Likes: 46
From: Hebron IN
I've been with Hagerty for close to 20 years now with many different vehicles and I don't believe they've ever raised my rates on any specific vehicle. In the 12 years I had my Corvette, the rate never changed. I have two motorcycles with Hagerty and the price is still the same as when I bought them over 10 years ago.
I'd start looking at things like traffic tickets, changes in your credit report (yes that makes a huge difference) and crime rates in your area.
I'd start looking at things like traffic tickets, changes in your credit report (yes that makes a huge difference) and crime rates in your area.
Racer
Joined: Jul 2008
Posts: 250
Likes: 6
I had Hagerty and they increased my premiums ever year as well for no reason. I have switched to NCM and they have been great to deal with but I have thankfully not had a claim so I wouldn't know about that end of it. One of the main reasons I switched to NCM was that I was able to drive my car to work if I wanted to.
