Classic Car Insurance companies - experience?

[coupelady]

Hagerty! They asked what I felt the car was worth. They then checked what auctions have been doing and their book values. You can pretty much name what you think the car is worth especially if it is restored. Quite awhile ago I had a claim, they sent an independent person to photograph the damage (to verify what I sent picture wise) the generous check came very quickly afterward, no hassle. I was able to select the shop I wanted, all went very well. I even talked with them about insuring our 1997 Z3 2.8 as a "Modern Classic". Our car is one of 5 factory colored cars (Sundown). It was a paint test car, it was decided not to offer the color. That fact was of some value in their eyes but the 380,000 miles was a stumbling block. They will insure with 2,5000 limited miles per year so I did not go with them on that car as, we do, drive it. They inquired if it was stored in a locked garage and yes limited miles for the coupe which is usually comes under the 2,500 per year. Another thought is to have it appraised if you are not sure what it is worth. It is always good to have someone else have eyes on it with their pictures. And by all means keep all your paper records but I feel that I am preaching to the choir on that. That just shows what you have in the car.

 

[dang]

Just added my '51 GMC to my Hagerty policy. I insured it for $8k, because it sounded like a good number, and it's $12/mo. 2500 miles a year.

EDIT: I got a quote without them knowing I had the coupe insured with them so it's been adjusted for a multi-car discount. $39 per year for full coverage! Wow.

 

[bluecoupe30!]

Hagerty contacted me this week through the broker I use. Seems they have watched the E9 soar in value and feel many of the Coupes they insure are undervalued now. Of course any increase in agreed value will increase premiums, but if you look at their "Valuation Guide" on-line, you will probably connect the dots from some of the BAT sales this year. An interesting "added value" feature in their guide, you can also graph the price of S&P, TSX, Gold over the same time period and see our Coupes have been a better investment. That is one piece of car-related news I have shown my spouse!