Classic Car Insurance

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Jun 6, 2003 | 11:48 AM

pra4sun

Thread Starter

Racer

Joined: May 2003

Posts: 432

Likes: 0

From: Manchvegas NH

Classic Car Insurance

I read a thread here suggesting Hagerty Insurance, among others.
I filled out their application, and I got an on-line quote of $174 for my car with maximum coverage, no deductible, and $15,000 stated value.

I find this a little hard to believe, so I want to ask how you all have found this company. Will this quote suddenly get jacked up once they process my application? How about 6 months or a year down the road? What about claims - are they quick to pay, or do they drag every little thing out? Any other tips or suggestions?

Thanks.

[Modified by pra4sun, 11:49 AM 6/6/2003]

Jun 6, 2003 | 11:56 AM

PatsLs1vette

Le Mans Master

Joined: Jul 2001

Posts: 9,622

Likes: 16

From: absecon nj

Re: Classic Car Insurance (pra4sun)

I went with american collectors for under 90 bucks a year,$10,000 coverage,there cheap cause its limited driving,it should be your third car.

Jun 6, 2003 | 11:57 AM

Neo Fender

Drifting

Joined: Mar 2001

Posts: 1,411

Likes: 2

From: St. Louis, Missouri

Re: Classic Car Insurance (pra4sun)

I noticed by your signature that you use your car as a daily driver (as is mine). Make sure you're clear on Hagerty's restrictions toward that type of usage.

Jun 6, 2003 | 01:21 PM

71'AirStrike

Melting Slicks

Joined: Sep 2001

Posts: 2,218

Likes: 0

From: Glendale AZ

Re: Classic Car Insurance (pra4sun)

I tried to get haggerdey and was denied. The reason is cuz if you have 3 offences (speeding ticket, accident, or a no-fault payout) in a 5 year time they will cancal your policy.
my understanding the 5 year strech is fairley henious most insurance companys have a 3 year limit.
JMO
chad

Jun 6, 2003 | 03:08 PM

Touringpro

Racer

Joined: Feb 2001

Posts: 330

Likes: 0

From: Baja Oregon

Re: Classic Car Insurance (Neo Fender)

Quote:

I noticed by your signature that you use your car as a daily driver (as is mine). Make sure you're clear on Hagerty's restrictions toward that type of usage.

This is an important point. When you fill out your Hagerty application, you MUST submit proof of having at least one other vehicle - conventionally insured - as a daily driver.

Also Hagerty writes agreed rather than stated value policies. There is a difference. Stated value is pretty much what you have in a normal auto insurance policy: total the car and you get Blue Book value on, what to the adjuster, is just a 25 or 30 year old Chevy. :( With AGREED value coverage, YOU tell the insurer how much the car is worth and if they agree with that figure, it is explicitly stated on the declarations page of your policy. In the event the car is totalled or stolen, you will receive that EXACT amount.

I have Hagerty and am very pleased. $272/yr., full coverage, no deductible, no mileage limits, $17,000 agreed value.

Jun 6, 2003 | 04:36 PM

yogi78

Instructor

Joined: Nov 2001

Posts: 175

Likes: 0

From: St Louis MO

Re: Classic Car Insurance (pra4sun)

I had Hagerty, but switched to American Collectors because the premium was 1/2 for the same agreed value coverage.

[Modified by yogi78, 3:37 PM 6/6/2003]

Jun 6, 2003 | 04:51 PM

gq82

Safety Car

Joined: Sep 1999

Posts: 4,930

Likes: 11

From: AnyTown NJ

St. Jude Donor '08-'09-'10-'11-'12-'13-'14-'15

Re: Classic Car Insurance (yogi78)

Quote:

I had Hagerty, but switched to American Collectors because the premium was 1/2 for the same agreed value coverage.

[Modified by yogi78, 3:37 PM 6/6/2003]

:iagree: check them out.
http://www.americancollectorsins.com/default.htm

Jun 6, 2003 | 09:51 PM

pra4sun

Thread Starter

Racer

Joined: May 2003

Posts: 432

Likes: 0

From: Manchvegas NH

Re: Classic Car Insurance (gq82)

Thanks for the info.

I just did an online quote with American. Same terms as hagerty, it's $50 cheaper.

So, I guess it will boil down to if anybody has any horror stories about either one.