Another insurance thread - renewal time

Stevehose

Stevehose

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So I am tired of Hagerty raising their rates each year, Grundy won't insure in Louisiana and Heac0ck is looking good with a lower price and more agreed value.

I have been researching the claims process and it seems in reality these cars are not covered for a lot of what we do. It appears that to some companies if you get in an accident stopping in at Autozone for oil or at a restaurant while out on a drive you may not be covered.

My question is this, who if anyone here has actually made a claim with any of these companies, and how were they treated?

Here is some food for thought:

http://www.acarplace.com/cars/insurance.html

http://www.ferrarichat.com/forum/la...tics/381957-hagerty-vs-hea****-insurance.html

The bottom line, if you are in an accident the party line is you were only on a club related or pleasure cruise.
 
thanks

Steve, thanks for posting the two large threads of info...thick, but interesting. One of the few ways to learn anything about insurance, and I'm still a little unsure.

This is how naive that I am..I call my then agent (Haggerty) recently, who also has my house, etc, thu Nationwide..."I have a 72 coupe that is outside and unregistered; we have many trees around...does my homeowner's cover any damage?" No "What if its stolen?" Forget it. "How about my riding lawn mower?" Thats different. "So its always a car even if its not registered or tagged?" Thats right. "Even my parts car?" Especially your parts car. "How about the 914 that is in parts in the unattached but enclosed and locked garage?" Its called car insurance, not car parts insurance..."Can I then tell my wife that none of them actually exist?" Not my problem. "Thanks, bye"....
 
My Haggerty renewal just came in the mail. 25% higher than last year (first year). I was wondering if that was their "norm" to raise rates each year after getting you to sign up. I'm interested in this thread since I need to make a decision soon...

Dan
 
Yeah Dave I hear you. My fear is that those who drive their classics are stuck between inexpensive rates for situations we're often not covered for and the traditional companies that cover the driving situations but not the agreed value.

Basically, I am afraid that I am not covered at Starbucks for example unless I convince them it was part of my "pleasure cruise" or "car event" which apparently some of these companies would take issue with.

A false sense of security.
 
Mine has gone up 11% the first year, 5.5% last year, and 6.6% this year for no changes in coverage. This year the bill is $529 for 50k agreed value. I just applied for 70k agreed value at Heac0ck for around $460 or so. And that includes $1250 more for spare parts coverage whatever that means.


dang said:
My Haggerty renewal just came in the mail. 25% higher than last year (first year). I was wondering if that was their "norm" to raise rates each year after getting you to sign up. I'm interested in this thread since I need to make a decision soon...

Dan
Click to expand...
 
Does HEAC0CK require two vehicles to be insured or do they just want to make sure you have a daily driver? Their online quote asks for two vehicles.
 
They just asked me if my other vehicles (one per driver) are insured, not necessarily by them. My quote was for 1 car

dang said:
Does HEAC0CK require two vehicles to be insured or do they just want to make sure you have a daily driver? Their online quote asks for two vehicles.
Click to expand...
 
It's renewal time for me and I have had Hagerty. I'm interested in shopping the rates and coverage as its no longer any sort of bargain with increased rates.

Has anyone put a claim through on the other providers mentioned here, such as Hea****? On the Early911s Registry, Hagerty actually replied in one of the threads to some of these same concerns.

Scott
 
I have a friend in the insurance industry. He is a low level executive.

He says regardless of what they say in public, the 99.9% of consumer auto/home insurers jack up rates for their most loyal and steadfast customers because they are the lowest flight risk when faced with increases. His advice is to change often. Funny thing is my father and I had been with his firm for 20 years. When we switched our rate went down about 40%! Now I change every two years. In contrast I've been with Hagerty for 5 years, and their increases have been very modest. So I don't know if Hagerty is engaging in these tactics typical of the general consumer insurance industry or not. But I do know it is a VERY HIgHlY lucrative business when you factor in the number of miles driven and the activities done w classic cars. Most of us drive our classics 15% as much as our DD's which means we are exposed to 1/6th of the typical collision risks as our DD's.

John
 
i had the same experience with Hagerty last year - 25% premium increase for no reason. i had dinner with Ford Heac0ck at a Kiawah Island car show, and found him to be a standup guy. i asked some of the collectors at the show - all high praise. they provide insurance for several of the car shows - all the cars on the grounds in the show in case something unforeseen happens.

they insured my coupe for 40k when hagerty insured it for 30k ... and the 40k number was lower than the initial hagerty premium for 30k. my current premium is 325 bucks for 40k value.

i sent them the insurance coverage on my porsche - both companies wanted to see it ... to make sure you have a car for your daily driver. also wanted to know how many cars we have in the house and how many drivers.
 
I just went with Heac0ck, they gave me 20k more agreed value (from 50 to 70k) for $40 less premium than Hagerty.
 
I had all my cars with Geico and after I got the E9 I called Hagerty because the E9 was not represented in the regular part of Geico Auto Insurance. I then found that Geico have a collector car segment covered by American Modern. They offered better terms than Hagerty together the with the agreed value and overall was handled well. They came in $120 less than Hagerty at the end and am subsequently with them.
 
I have all our coverage, home and auto with State Farm. Been there for years. Currently my coupe is at $37k agreed value. I don't anymore(too much stress on the old sheet metal and driver) but when I started going to BMWCCA driver schools SF said, fine, it is a school, not a race. Park it outside the motel, no problem. Stay within the mileage allotment. They have never, in 25+ years asked for a mileage reading. When I want to up the AV my agent takes a couple of photos. Sometimes they will give me a little less than I am asking for, I take it and ask again in 8 or 9 months.

My agent told me she has had a number of collector car claims and the owners have had not problem with SF. My premium, $245. a year.

The rest of this post does not deal with auto insurance and nobody asked but here it is anyway.

I have also purchased earthquake insurance. Not expensive here, less than $200. a year. I live outside Philadelphia in Bucks County, and when the earth shook in VA a couple of years ago a neighbor's dishes and more rattled and shook. Try and buy it in CA and the premium is a weeeee bit higher. right.

Then I bought an umbrella policy with a million bucks coverage for what is not covered under my homeowners and auto. We live in a "sue over anything" society.

Then, recently I signed up for identity theft protection. State Farm has a great policy for a little over $100. I saw what a friend went through for over a year. Time, money, grief. Not worth it.

Steve
 
oneills said:
...

Then, recently I signed up for identity theft protection. State Farm has a great policy for a little over $100..

Steve
Click to expand...

Interesting, what if the insurance company pays the identity theft claims to the thief that stole your identify instead of you? That would add insult to injury.
 
Been with Hagerty for 5 years. Sounds like time to switch to American Modern.

Have had very good service from Hagerty, and unlike many they were able to cover me when driving my classic abroad (UK/Europe). That latter point is helpful if you want to buy and register a car in the UK, for example. 4 years ago I couldn't find any other Classic Car insurance company who could do this for me. The cost to get a separate ins policy in the UK was very high because most are limited to UK residents. Ditto in France.
 
I have Hagerty now with a very modest $17k agreed value.
I hate driving it because of the low value and what it will cost me if some idiot paying more attention to their phone than the road, t-bones me.

So after reading this posting I tried Hea****.

Hea**** valued my car at $23k for insurance. They also quoted Hagerty as their basis for value. "Concourse quality of $28k" stated for reasoning.
I desired a $50k, but would have taken a $40k.

Not sure how to proceed. Should I get an appraisal from a qualified reputable company?

I have not seen a e9 in very good condition for sale for $25k in years.
 
I've had USAA for years, and they recommend American Collectors Insurance for their members' classic cars. Has anyone had experience with American Collectors?
 
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