I can confirm also that my Hagerty Policy did not have any usage restrictions listed nor mileage limitations anywhere on the policy and I sure as hell was not going to call them up and ask them "where are my usage restrictions". All that was required was private garage & a daily driver. They did ask me when I signed up and assigned a 6K miles per year usage limitation but there was absolutely nothing in writing anywhere on my policy...not the definitions page nor the declarations page on the usage & miles limits. I do not currently have Hagerty as believe it or not my vette is my only ride since I walk too & from work I sold my daily driver a year ago and have just had the vette on a stated policy since an yeah I know about the agreed vs stated debate.

Adam...can you comment regarding the coinsurance scenario I posted earlier? I would really like to know the answer to this.

 

I know a number of guys that have had small claims with Hagerty and they've never been hassled, even when in parking lots where supposedly you're not supposed to be.

I went with NCM because they seemed to have a more generous drive to work program. Who knows, Hagerty might be just as generous in 'practice' than on paper. Can't say, I never used them.

Classic car insurance must be a fairly high-profit segment in the insurance industry. How many miles do classic car owners REALLY drive per year ..$1500, $5000 .. and the frequency of claims seems pretty small from what I can tell?

 

Curious as to why you would take a stated value policy over a normal full coverage policy?

 

Folks, read the policy. No matter what anyone tells you, that policy is your legal, binding contract. Basically, the Haggerty policy is a standard auto policy, not much different than the policy for your daily driver, with a couple of VERY SIGNIFICANT exceptions:

• You must have a daily driver vehicle for every licensed driver in your family and those vehicles are all insured at the same limits as the antique policy.
• The vehicle must be “garaged”.
• It is an antique vehicle used "primarily" for purposes associated with antique vehicles (read the policy). It is “used infrequently for other purposes”.

The last item is a gray area, so interpret for yourself.

 

When I was younger, my friends and I would take our cars to a forest preserve with a lot of other people and everyone just shows off their cars while grilling and having fun. It was kind of like an unofficial car show, if something happened going to or from here, would I be covered? I just dont want to be afraid to drive the car because I'm not sure if I can prove to the insurance company that I was drivng it that day as intended by the policy. I don't know, maybe I'm just being too paranoid.

 

Call these companies and talk to them. I have only heard positive things about both....




Hagerty

 

NCM.....great to deal with and even better prces.
Occasional "pleasure" drives allowed

 

I have a problem with the "occasional" pleasure drives. Every time I drive the vette it's a pleasure! Now what do I do??

 

Had Grundy.
Had Hagerty.
Have NCM. Couldn't be happier.

 

If there's ever a problem....it was a pleasure cruise...right? Wink.

 

If the accident occurs at a car related event 100% of the claim will be handled through the agreed carrier and only a deductible (if there is one) will be paid by the insured. Even the stated value carriers have stipulations as to usage.

This would be crazy to do! There generally is no uphill battle though.

I can not answer that question as it hasnt happened to me yet. I have had only 2 claims denied due to racing.

 

Mileage is different than "restrictions" as you put it. Unlimited Mileage does not mean unlimited usage. We offer an Unlimited Mileage plan as well, but maybe only have a handful of policies that have it. The reason is due to the cost. Why pay for unlimited mileage when you can fine tune a policy and reduce cost even more?

 

Yes, no problem at all....

 

Thanks Adam for your detailed answer. This helps a lot to understand where coverage would apply/follow.

If I get a 2nd car that is qaulifies for as a daily driver I will give you my business to switch over to an agreed value policy. Right now I only have my 69 vette and walk to & from work, condo living, single, etc so a traditional daily driver is not needed and the costs for a 2nd car, insurance, and parking $200/month in a condo for 2nd space its hard to justify the costs of another car just to get the agreed value insurance.

 

Sounds great! I can understand your situation completly. Thanks and have a great week!

 

Kaos, here is more of a detailed answer...

It is difficult to provide a universal answer to your question as the policy has variations from state to state and based on what program the policy is written through. Below is some language that discusses other insurance under Part D of the Collector Vehicle Specified Coverage Endorsement for Ohio, which is similar to many of the states we handle:

OTHER SOURCES OF RECOVERY
This section is replaced by the following:
If other sources of recovery also cover the loss, any insurance we provide shall be excess over any other collectible source of recovery.

How the damage to the vehicle would be handled would depend on the language present in the standard auto policy as well as the laws present in the state in which the accident occurred. In Ohio, if both policies read excess, the damage would be handled pro-rata based on policy limits between the carriers.

With regard to your other question, here are some exclusions present in the same endorsement under other parts of the policy that would appear to be applicable. I have listed some below for your review:

Part A - Liability
5. "Your covered auto" :
a. While being operated by a " family member" who is not listed in the Declarations as an operator; or
b. While being operated for other than "occasional pleasure use" .

However, this exclusion does not apply to Property Damage Liability.

Part B – Medical Payments

12. Sustained while "occupying" "your covered auto" while it is being operated for other than "occasional pleasure use" .

I wish that I could be more definitive in my answer to your inquiry, but hope this information was helpful.

 

Onebadsc, my experience with a totaled 69 and hagerty. First off the accident did not happen coming or going to any car show, parade or anything of that nature, it was just me time. The tow to the body shop was uneventful, the problem started arising when Hagerty sent the appraiser to the shop who was not a hagerty employee or a classic car appraiser but a sub contractor for hagerty. No disrespect to the youth in the world but this kid had no idea where to start on a 69. @ the shop owners suggestion was to charge a fee 2 tear off the body damage and put on frame machine for a firm appraisel little over 1k. Hagerty offered $450. Alright then so body shop gave round estimate with out tear down and hagerty called it totaled. My bad for not knowing but I was under the impression that i had my agreed value to use for repairs, wrong 70%. I did get my agreed value for it less buy back amount and 69 under repair as we speak. Been about 4 weeks now frame was not bent, few suspension parts, Car should have not been totaled. Somebody mentioned not much difference than standard auto policy, other than not having to deal with depreciation and having a agreed value I now believe that to be true. Ask tons of questions when shopping for Ins, If you want classic car ins make sure they are classic car guys to the end.

 

Excellent point radray and very sorry for your experience!

Our claims reps are company employees who know collector cars. The claims adjustors on the phone have built cars that have been in magazines. They only know collector cars.

Thanks!

Adam Boca

 

Wow, that is terrible, so now you have a car with a salvaged title, that should never have been totaled? Is it typical that a car will be totaled if the repair costs are more that 70% of the agreed value?

 

Yes it will be a salvaged title and it was 70% of the agreed value