YAY!! finally get to save some $$$$

[BarryK]

When I was laid off work I of course had to turn in my company car. didn't see the need to spend a lot of money on a new car until we really needed it so the wife and I had been sharing her Lexus. Unfortunately that meant with only one daily driver between the two of us I didn't qualify for Collector Car Insurance.
Last month we purchased my stepbrothers Toyota 4Runner that was in great shape from my sister-in-law after he passed away - it was just too good of a deal to pass up and the wife always wanted an SUV.

with two daily drivers I was FINALLY able to get my vette off my regular car insurance policy that was costing a fortune and onto Hagerty Insurance. I put in my application a few days ago and just heard back yesterday that it's offical and the Vette in now under Hagerty so on Monday morning I can call Nationwide and have them cancel the vette off the regular policy.

The best part, besides saving over $1,000 a year, is the AGREED VALUE, rather than the STATED VALUE I only had with Nationwide. That really gives me a much warmer, fuzzy feeling inside just in case anything ever does happen to the car.

 

[tigernut]

Welcome to the Hagerty family Barry, it's always fun to save money and come out ahead.

Doug

 

[BarryK]

Doug
i've been waiting a little over a year and a half for this so I'm thrilled.

gee, it was such a hard decision, on one hand I save money and get better coverage (agreed value), on the other hand......... well, that other hand s*cked, more money and inferior coverage.
As you can imagine, I placed that call into Hagerty as soon as i could once the 4runner was registered and insured under our name.
As a nice added bonus, having the 4runner in the family may come in very handy at times.......... it's towing capacity may not be the highest out there, but in 4WD mode it's up around 9800 lbs or so - more than enough for my '65 on a open aluminum trailer if I ever have the need. Can you say "only have to drive one vehicle to Carlisle instead of driving two"?

 

[paul67]

That was a wise move. I am sure you now have much greater peace-of-mind.

Many people in many threads (in various fora) think they can STATE a value and that will be the payout in case of total loss. What irks me is that some agents/brokers do not dispel that myth and advise accordingly. Try to explain to an actuarial insurance person what a 40-year-old Corvette is worth when it's hidden in a container bound for Europe.

 

[BarryK]

I agree Paul. And honestly, I wouldn't have had a clue on the differences between AGREED or STATED values if it wasn't for these forums.

 

[paul67]

I twigged to the difference about 5 years ago when I had my 1979. For some reason I forget, and was not explained to me, my broker shifted companies to get a "better" premium in my interests. I had not given that approval. It was 50% less. Sounded good. Then I thought about the situation. So I called. The value on my 1979 was given as $2,700. So I went to an Agreed policy after an appraisal of $12,500. One could argue about that value for a 1979 but....You have to watch these Corvette non-savvy insurance people.

I ask any readers, is this 1979 worth $2,700? That's $4,000 worth of paint to start.