Insurance value upgraded with Hagerty

GolfBavaria

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Something everyone on this board should be doing about now...it's worth any extra $$$ owed for bi-annual or annual charge for the higher agreed upon value, as I feel their premiums are really reasonable, especially considering having to replace like for like vehicle in this current market if totaled, etc.

Speaking mainly to E9 owners, but E3 is slowly becoming harder and harder to find good quality E3's. As long as you have a "no accident or claim" history; I should say. I'm sure premiums will be much higher if you have ever had an at fault claim and want to raise your agreed upon value.
 

Honolulu

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I'm not much impressed. As a "stated value" policy issuer, Hagerty will accept the risk that an insured vehicle won't be wrecked while under their policy, if you pay the premiums due. They're in it for the money and know the risk level they're accepting when they issue the policy, and what the appropriate premium should be for their chosen level of Return on Investment.

Has any E9 ever sold for such a value? Does yours closely resemble any recent top dollar transactions? Did you misplace a decimal point?
 

m5bb

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I'm not much impressed. As a "stated value" policy issuer, Hagerty will accept the risk that an insured vehicle won't be wrecked while under their policy, if you pay the premiums due. They're in it for the money and know the risk level they're accepting when they issue the policy, and what the appropriate premium should be for their chosen level of Return on Investment.

Has any E9 ever sold for such a value? Does yours closely resemble any recent top dollar transactions? Did you misplace a decimal point?
Guess you missed the recent Bring A Trailer sales?
4 cars at or near $200,000.00 since first of year.
No I did not miss a decimal point.
My period correct Hot Rod that I rebuilt over the last 4 years. More than $60,000.00 in parts paint and metal work and over 3000 hours of my own labor.
Just protecting my investment.
Gary
 

teahead

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Gary is probably not insuring his awesome rig for enough coin.

On par w/that $240k hot rod. Probably should ante up to $250k. Give them BAT results for proof.

However, Hagerty aint THAT cheap.

Checkout American MOdern.

I pay $500/year for: $80k 1955 Nomad, $65k for '70 280SL, $35k for my 63 15w VW Bus, $15k for my 76 2002.

Not sure why I haven't put the E9 on there yet. It's still w/State Farm (all other homes/cars on there w/the umbrella policy).
 

Luis A.

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Gary you care to share what the delta was in premium from your prior value to $200K?
 

m5bb

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Gary you care to share what the delta was in premium from your prior value to $200K?
Here's the run down.
Last fall at $125000. $936.00
A month ago I raised to $150000. $1105
Monday 6/7/21 raised again to $200000. $1474.

I get a multi car and BMW club membership discount.
Currently arguing with them about Drivers Club membership.
I refer so many people to them they should comp me that. $70.00

Gary
 

m5bb

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I sold mine for $200,000.00 in 2018.
I will have to say that Mike Burger was the leader in this surge for Exotic car status.
Mike was kind enough to share with me his sale 2 years ago. It was not public knowledge at the time.
With that info I was able to insure for $125000 no questions asked.

Thanks Mike for starting a great surge in value. @OCCoupe

Gary Beck
 
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bavbob

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I just increased my Haggerty value to 110K for my 73 cs, it was at 40K while I was restoring it. Premium increase was 147 dollars. Meanwhile I asked and then increased my 88 M6 from 32 to 50K and this was 250 dollars. Rep had no explanation. Perhaps M6 drivers are more aggressive or they put on more miles? I found it all interesting and tried to see the logic but I cannot. Shall I complain that for 1.1K I have my 635, M6, Bavaria, 3.0cs and 67 Mustang covered for top value...................naaaaaaaaaaa. That's less than I pay for my 335 coupe.I have zero claims and zero tickets BTW.
 

dang

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Of course, there's always this to contend with also. I have a '69 2800cs and as soon as I started asking for coverage around $40k they wanted more photos of the car, in my garage, etc. First one is 2800cs, second one 3.0cs.

hagerty 2800cs values.jpg


hagerty 30cs values.jpg
 

m5bb

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Of course, there's always this to contend with also. I have a '69 2800cs and as soon as I started asking for coverage around $40k they wanted more photos of the car, in my garage, etc. First one is 2800cs, second one 3.0cs.

View attachment 121011

View attachment 121012
This has always puzzled me?
I just don't think Hagerty evaluation team is knowledgeable enough to know?
Someone should try to educate them.
Gary
 

Drew Gregg

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Hagerty's historical values might be close, but their current values are far off the BAT recent prices. My Hagerty policy needs a serious increase in replacement cost value.
 

Tony.dreamer

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Picture say a thousand words. I try to say it in hundred:
That olive branch is misleading. Until he gets that close to you. Then you realize he could mean business by looking at his eyes for a split second. “ “Submission” is my command or I could drop this branch in no time and you can then see my serious look better!”
 

Thomas76

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I had an interesting convo with the hagerty rep last year when I got my 70CS road ready. While discussing insured value he said to set it at replacement cost, which I hadn't considered being a wrencher myself. He said most claims are total loss because with cars like these you can't fix them for less than replacing them, even if minor damage.
Broke my heart and scared the crap out of all at once.
Now I don't have anywhere near a quarter million dollar car but I'm certainly insuring it for more than I was!!
 
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