Vintage Auto Insurance Recommendations??

[studiog]

Anyone care to comment on vintage insurance companies and their rates, service, coverages and reputations. Thanks. :confused

 

[Neal]

I've been with Haggerty for my '58 a couple of years now. I consider them relatively inexpensive (around $275/year), although I'm suppose to only drive my Vette around 2,000 miles/year for car club and/or show activities and 1,000/year for pleasure. (Is there any other type of driving?) Also, for something like an extra $10-25, I have coverage that if I break down, they will send out a flatbed truck and haul (NOT tow) my baby to the repair shop of my choice (within reasonable distance).

Disclaimer: I've yet to file any sort of claim with them.

 

[c5vetter]

I have American Collector's Insurance on my 1963 Z06. It is a $100,000 AGREED VALUE policy - NO DEDUCTIBLE, TOWING on flatbed to repair shop of my choice, and numerous other options - limited to 2500 miles per year that must be verified every year on renewal with an odometer statement - $416.00 currently and is adjusted every year

 

[IH2LOSE]

The most important part of collectable car insurance is the term

AGREED VALUE

quite simple it means you and the insurance under wrighter have agreed to your settlement incase of a total loss.And you may say I am more concerned with a fender bender " I am a safe driver"

If your using other then AGREED VALUE insurance a simple fender bender on a fiberglass car can bring you to a total loss settelment.

A while back there was a post about insurance on the C3 board and I had mentioned the importance of AGREED value and alot of felllows said they had agreed value I told them to read there policy only to find out they did not have agreed value.

If its written any other way except AGREED VALUE your not covered correctly.It all sound's the same,Your insurance sales man may represent it as being the same but its not.

Personally I have been with condon skelly forever they are an A rated insurance company.I have never made a claim and hope I never have to so I can not comment on there customer service,But when I was shopping for collector car insurance way back when this was one of the only companies that would write a AGREED VALUE collector car policy for a for a young male unmarried new driver.I am 40 now and have been with them ever since.

I also double check the value of my cars every year on renwal to make sure I am not under insured.

If your looking for insurance for a collector car,And you plan to use it as a collector car youll be ok with collector car insurance.If your looking for a cheap way to insure a 2nd car for errands I would not suggest it.

 

[SeaLawyer]

WHOLLY concur on the Agreed Value. I've had Hagerty's for a couple years now - $35,000 AV policy, runs me about $260/year as I recall, AND I have a 5000 mile/year limit which is quite generous compared to others I looked at.

Happy Hunting!
Vaughn

 

[IH2LOSE]

WHOLLY concur on the Agreed Value. I've had Hagerty's for a couple years now - $35,000 AV policy, runs me about $260/year as I recall, AND I have a 5000 mile/year limit which is quite generous compared to others I looked at.

Happy Hunting!
Vaughn

Vaugh used the term AV meaning agreed value,

If in his policy it said ACV that stands for Actual Cash Value and he would not be covered correctly.

They recently have added a new term called stated amount or agreed amount.These terms give the impretion of agreed value but they are not they are simple terms that mean to us the insured that in the case of a loss the maximum the insurance comapny will have to pay out is the stated amount or the agrred amount.Both of these term go back to the ACV means of settling a claim of having to prove the cars worth and then deal with the depreceation of it .

Again any other term besides Agrred Value and your not covered properly with a collector car.

I also checked with condon skelly and they do allow your car to be unattended.Some of the collector car policies DO NOT allow your car to be left unattended.

When would you leave it unattended.Lets say your going out to corvette of carlilse for the week end and your leaving the car on the show feild over night,or in the hotel parking lot.Some of the collector car policies will not cover you for it.

 

[IH2LOSE]

studiog

You also have to see if they allow you to insure a car thats not complete.thats actually being restored and not driven.I always make sure I am properly insured with any and every thing I own.As far as I know if your garage collapsed on your car your restoreing or worst yet got stolen your home owner will not pay for it.

Thats why if the car has any value (and for sure yours does )you must have it insured with its own policy

 

[Tom73]

I have three cars with Hagerty, very happy with them.

tom...

 

[mdenno]

I have Great American Insurance Co. 3000 mile limit, $20,000 agreed value
for $185. for 72 convertible

 

[SeaLawyer]

Larry is correct -- Agreed Value DOES NOT EQUAL Stated Value.

On my AV policy with Hagerty's, if the car is stolen, they cut me a check for $35K. PERIOD. No haggling, no appraising, no BS.

I like that peace of mind.

 

[IH2LOSE]

You know the worst part of this insurance thing is that the underwrighter who are not providing Agreed Value policies Dont charge any less for there product they charge the same price and just give's you little to NO coverage.

 

[Tom Bryant]

This subject has come up several times over the years and Chris, 69myway, wrote a two part article on insurance that is a must read for anyone having questions. We recently suffered a total loss of my son's '95 Blazer. Even after I supplied doucmation from the local Chevy dealer, (11 page computer printout of over $8000. in repairs and upgrades including new crate motor, steering box and anything else that went wrong over the last year and a half, plus body shop bills for making the paint and body near perfect and photos, I was told by Low Ball Larry the "Total Loss Specialist" that that stuff is just maintenance and if it's over 60 days old it doesn't count.

I also compiled a document showing around 150 '95 Blazers actually for sale across our region of the country and pricing ect. These backed up the NADA and Kelley Blue Book value of the vehicle even with a mileage adjustmant. His response. We can't use those vehicles as a guide and we don't use the books either. We have a company do our market reserch for us. (A company paid for by them to come up with values they want to see) And this is from a company where I worked as a claims adjuster for several years. Calls to upper management accomplished nothing. So if you ever think you are in "Good Hands" (hint) with your regular insurance company, believe me You Are Not!

It is obvbious that even if I had obtained a professional appraisal of the truck before the accident it would have made no difference to them. At this point I am totally in fear of even taking the '81 out of the garage and the 2 restoration projects are also in grave danger of being looked at as junk by these :booty from Northbrook IL. I'll be researching a new company for the collector cars before anything moves this spring. It just isn't worth the risk. The AV is a must and the unattended clause should be avoided at all cost. With that you can't even stop for lunch if you can't see your car and are not within a prescribed distance while you are eating.

Here's the link to Chris' column. Crap. The link isn't working. Let me contact Rob and I'll post this later.

Tom

 

[studiog]

Thanks guys for all the valuable information I really appreciate it. Very helpful.

 

[TLeBlanc]

I bought my 64 last year in May. I called my regular insurance company (State Farm) and they quoted me a ridiculous $380 (per month) !! They danced around the "value" issue to the point I was not comfortable. I posted a thread on this site and got several suggestions. I ended up contacting Hagerty. I asked for references and they gave me names of customers in Texas, one had even just settled a hail damage claim. These people could not stop talking about the quality of service Hagerty had been providing. They (Hagerty) insured me with more coverage (limits of liability) and a higher AV than SF for less than $300 per year.

 

[Tom Bryant]

They are the ones I have been mostly considering. Thanks for the testimonial Tad.

Tom

 

[Toy4Hal]

Great information. Thanks, all. I have "conventional" insurance on my 62. I "believe" I have an "agreed Value" clause but I will now check. In any case, I'm paying far more than any of you quoted. So, how do i find this Haggerty company?

Thanks again.

 

[IH2LOSE]

Great information. Thanks, all. I have "conventional" insurance on my 62. I "believe" I have an "agreed Value" clause but I will now check. In any case, I'm paying far more than any of you quoted. So, how do i find this Haggerty company?

Thanks again.

Hal I would bet if its conventional insurance .You may have agreed amount or stated value of acutal cash value.All of witch mean your not covered properly. Check the policy tonight and let us know.On the declarations page it will state the coverage you have.

I honestly would pay double even triple the cost I am paying now if I had to inorder to have agreed value coverage

 

[Toy4Hal]

I'm not sure I know where that page is, and i suspect you are correct. In any case, based on what I read in here, I still want to know how to contact Haggerty and get a quote from them.

Thanks.

 

[studiog]

I'm not sure I know where that page is, and i suspect you are correct. In any case, based on what I read in here, I still want to know how to contact Haggerty and get a quote from them.

Thanks.

I just found this for myself. You can do it online at this address: http://hagerty.com/

 

[IH2LOSE]

I'm not sure I know where that page is, and i suspect you are correct. In any case, based on what I read in here, I still want to know how to contact Haggerty and get a quote from them.

Thanks.

Hal get your auto policy and the dec page will have your name on it and the insurance ajents name and then your coverages Its the most important part of a policy.for sure what ever policy you have you should know your declarations page.Same goes for your homeowners policy I sit with my agent every year to go over my policis to make sure I am covered properly.I am often shocked that folks dont get educated on proper insurance.