Classic Car Insurance - Hagerty vs. Grundy vs. ...?

[ForVWLife]

The best part about Hagerty is their road aid. Flatbed-only and a 175-mile range at no additional charge.

only quoting this part.....have you used this service? its horrible

they have to basically call around and find people who are willing to come tow....i waited on the side of the hwy for 30 min before i called back only to find out the guy was still trying to find tow a company for me

30min later he called back to inform me he was still looking

i informed him the car was already on the back of a AAA truck

(FYI it was a saturday night around 8pm in central rhode island, not out in the middle of the country somewhere )

[ForVWLife]

How are some of you paying $100-$200 or less per year? For the car I am trying to get insured (possibly/probably the lowest mileage/best OEM condition E30 in the US) the quotes are $800-900 per year..

how much insurance are you requesting? that also drives the cost up

[PoorHouse]

I'd be happy to. I'll use my '77 Lincoln Town car as an example. It's nearly perfect with 21,000 miles on it. I could get $15,000 for it any time I want from someone that knows what I have. However, I insured it for $20,000 in an agreed-value policy.

Hagerty agreed that they would take my bet. I'm betting $6 per $1,000 in value that I am going to get into an accident and they are betting that I'm not. So, my bet is $120 per year. Statistically, they are on the winning end, but just one payout makes a slight over-bet worth it.

You can only push this so far, though. If you try and claim that a 340 Duster is worth $100,000 they would make you get an appraisal. If you're reasonable they won't require it.

Hagert requires, for this incredibly low rate, that you have one licensed and insured daily driver and that you not use your classic for that purpose. They would require that every licensed driver in the house have a daily driver. They also require that the car be in a locked garage, not just a locked enclosure.

They are not terribly restrictive on use. In fact, Hagerty encourages you to get out and drive your classic, but not as a daily. There is no mileage limitation.

The best part about Hagerty is their road aid. Flatbed-only and a 175-mile range at no additional charge.

Thank you.


Should your Lincoln get totalled do you get a guaranteed $20k? Or, will they at that point perform
an appraisal and come back with a lower value?

I ask because my current insurer advised me they require a stated amount on vehicles over 30 years
old. They explained the stated amount as the maximum they will pay, but they are not guaranteeing they
will pay that amount.

In the case of the Lincoln at $20k, they will charge you premium on $20k, but would pay somewhere
between $0 and $20k based on an appraisal if the car were totalled.


A crap deal basically.

[barry2952]

I had my '60 Olds insured with Hagerty when I first got it.

I was on the phone with them discussing something unrelated and mentioned I occasionally drive the car to work, once or twice a month. They immediately canceled my policy without any further discussion. Apparently they don't want to insure vehicles that get used at all...

If I were an insurer offering full coverage for $100 a year, I wouldn't either.

I know, "It's not fair".

BTW, I put 4-6,000 miles a year on my classics, so that blows your theory.

[barry2952]

Thank you.


Should your Lincoln get totalled do you get a guaranteed $20k? Or, will they at that point perform
an appraisal and come back with a lower value?

I ask because my current insurer advised me they require a stated amount on vehicles over 30 years
old. They explained the stated amount as the maximum they will pay, but they are not guaranteeing they
will pay that amount.

In the case of the Lincoln at $20k, they will charge you premium on $20k, but would pay somewhere
between $0 and $20k based on an appraisal if the car were totalled.


A crap deal basically.

No, they would pay the "agreed value" if it were totaled.

[mikes96GTI]

AAA offers Collector car insurance. I had an agreed value policy on my old VW Bug for $13.5K, cost me $109 a year. I was in an out of their office quick, they took pics and all.

[barry2952]

only quoting this part.....have you used this service? its horrible

they have to basically call around and find people who are willing to come tow....i waited on the side of the hwy for 30 min before i called back only to find out the guy was still trying to find tow a company for me

30min later he called back to inform me he was still looking

i informed him the car was already on the back of a AAA truck

(FYI it was a saturday night around 8pm in central rhode island, not out in the middle of the country somewhere )

Never had a problem. Used it 4 time.

[intoflatlines]

things that can and do affect your insurance rates:

- credit rating
- driving record
- age
- sex
- zip code

any or all of the above could be the reason you are being quoted the amounts greater than some of us.

True.. but this is just from quick quotes online and with agents, not asking about credit rating and driving record. My credit is good and my driving record is perfect. I am 25 years old but my normal insurance rate seems to be pretty good. It must be an age thing.. $900/yr is easily affordable of course, I just didn't expect the premium to be almost as much as my 2011 GTI

[intoflatlines]

how much insurance are you requesting? that also drives the cost up

100/300 full coverage, agreed value for now is only $10K (still need to get it appraised).

Also, I just looked again and realized that it's $415/yr, while I thought it was $415/6mo like my regular insurance. That's much better, but I still wonder about those of you with sub $100 premiums

[.LSinLV.]

AAA offers Collector car insurance. I had an agreed value policy on my old VW Bug for $13.5K, cost me $109 a year. I was in an out of their office quick, they took pics and all.

FYI - the last time I worked with AAA, they wouldn't even quote on Porsches, or Ferrari's.....for some reason they are afraid to insure these marques.

[MoPho]

There is no mileage limitation.

.

There is a mileage limitation with Hagerty, but they don't enforce it. It is don't ask don't tell.....

only quoting this part.....have you used this service? its horrible

they have to basically call around and find people who are willing to come tow....i waited on the side of the hwy for 30 min before i called back only to find out the guy was still trying to find tow a company for me

30min later he called back to inform me he was still looking

i informed him the car was already on the back of a AAA truck

(FYI it was a saturday night around 8pm in central rhode island, not out in the middle of the country somewhere )

I have used the roadside service many times (especially when I had my Lotus) and the service was great. Sure there were a couple of times it took a bit long for the flatbed to show up, but that was because it was a busy day in the big city.
AAA doesn't guarantee flat bed service unless you pay extra too.

[daveschi]

True.. but this is just from quick quotes online and with agents, not asking about credit rating and driving record. My credit is good and my driving record is perfect. I am 25 years old but my normal insurance rate seems to be pretty good. It must be an age thing.. $900/yr is easily affordable of course, I just didn't expect the premium to be almost as much as my 2011 GTI

Are you actually looking at "classic car insurance", or "collectible insurance", or are you just asking your regular geico(or whoever)agent how much it would cost to add the car to your DD's policy?

[mikes96GTI]

FYI - the last time I worked with AAA, they wouldn't even quote on Porsches, or Ferrari's.....for some reason they are afraid to insure these marques.

There are age restrictions, car has to be old enough to be considered "Classic", I don't remember but I think there are a couple of other requisites too.

[intoflatlines]

Are you actually looking at "classic car insurance", or "collectible insurance", or are you just asking your regular geico(or whoever)agent how much it would cost to add the car to your DD's policy?

Went directly to Hagerty's website, and also talked to a Hagerty rep on the phone. It always comes up as "collector vehicle" insurance, even before I put any info about the car in. This is not through my regular insurance company.

[ForVWLife]

I have used the roadside service many times (especially when I had my Lotus) and the service was great. Sure there were a couple of times it took a bit long for the flatbed to show up, but that was because it was a busy day in the big city.
AAA doesn't guarantee flat bed service unless you pay extra too.

you do when you tell them car has a custom awd swap

[nm+]

That true for the other companies as well?

Fireman's fund will let you street park, daily to work, Mexico coverage (LOL), and more and give you an agreed value and such, but you'll pay. They'll do a no restrictions agreed value policy, but is isn't going to cost $200 like hagarty.

[elmer fud]

great thread! been thinking about this a bit lately, as I am approaching completion of my first car that will see low mile use-age. and also my first car that will have to have full coverage even tho I owe nothing on it. as I might murder if it was destroyed with out it.

[intoflatlines]

So Hagerty declined the application because my GF (the policyholder) has a less than ideal insurance claim record. So now time to look for a 2nd choice (and 3rd, 4th, etc.)

[.LSinLV.]

So Hagerty declined the application because my GF (the policyholder) has a less than ideal insurance claim record. So now time to look for a 2nd choice (and 3rd, 4th, etc.)

why list her on the policy if she's NOT your spouse??? just leave her off....they don't need to know if she lives with you or not.

as long as she's over 25, and not your spouse, don't list her.

[barry2952]

They will ask about other licensed drivers in the house. Falsification can lead to denial of a claim.

[intoflatlines]

why list her on the policy if she's NOT your spouse??? just leave her off....they don't need to know if she lives with you or not.

as long as she's over 25, and not your spouse, don't list her.

This is actually insurance for her car. When I made the original posts, I worded it like it was mine because I figured it'd be easier than saying "she/my GF/hers/etc." But I guess that just confused things in the end

[Cooper]

We use J. C. Taylor.

http://www.jctaylor.com/

[Skidmark]

If I were an insurer offering full coverage for $100 a year, I wouldn't either.

I know, "It's not fair".

BTW, I put 4-6,000 miles a year on my classics, so that blows your theory.

Haha because insurance companies are always known for being "fair."

Come on Barry I know I'm just a stranger on the internet but give me a little more credit there big shot...

I don't recall the rate, it certainly was higher than $100/yr but thanks for making the assumption. I would have no problem paying a premium corresponding with the usage of the vehicle. They simply dropped me with zero discussion or options which I found very disappointing. I'm a 34 year old homeowner that hasn't had a ticket since 1996 and only had one claim my entire life, which was 10 years ago... not exactly a high-risk customer.

I stand by my comment that I had a negative experience with Hagerty. That's all.

[.LSinLV.]

They will ask about other licensed drivers in the house. Falsification can lead to denial of a claim.

true, but if she wasn't "living" with him at time of policy inception, they have really no way of knowing other than if she drives the car.....which if it was his car wouldn't be an issue.

I really hate that carriers assume that they assume EVERY risk, even though it may never occur. Like my 914-6. I would not allow the wife to drive it, nor would she, as she hates the dog-leg five speed and has a very hard time driving it. yet I have to include her on the insurance.

[intoflatlines]

Yeah it sucks that her claims on her DD are making Hagerty weary (although I do understand why). She's had 4 claims over 90,000 miles and 5 yrs with her DD (2 comprehensive, 1 collision.. rear ending someone at like 3 mph, 1 no fault parking lot thing where it was actually the other driver's fault but we couldn't "prove" it). I mean I get that it's a lot of claims in 5 yrs but since this car will only be driven maybe once per month for a few miles, it doesn't seem like there'd be a huge risk IMO. But I'm not an insurance company

[barry2952]

big shot...

Blah, blah, blah, they're not treating me fair. I want cheap insurance, blah, blah, blah.

It's their business to deny people like you. That's why the insurance is so cheap.

[Skidmark]

Blah, blah, blah, they're not treating me fair. I want cheap insurance, blah, blah, blah.

It's their business to deny people like you. That's why the insurance is so cheap.

Barry I've always had a lot of respect for you, your cars and your passion for our hobby. I do not understand why you're responding to my posts in such disrespectful fashion.

Like I said before, I'm a good customer that is happy to pay a higher premium that corresponds with usage of the vehicle... They dropped me when I told them I would like to drive my car to work occasionally and did not even give an option for me to pay a higher premium. I hope my experience will help the OP find insurance well suited for his needs.

Thanks,
Alex

[barry2952]

Barry I've always had a lot of respect for you, your cars and your passion for our hobby. I do not understand why you're responding to my posts in such disrespectful fashion.

Like I said before, I'm a good customer that is happy to pay a higher premium that corresponds with usage of the vehicle... They dropped me when I told them I would like to drive my car to work occasionally and did not even give an option for me to pay a higher premium. I hope my experience will help the OP find insurance well suited for his needs.

Thanks,
Alex

Alex, you come across as being "entitled" to Hagerty's insurance, even though you've admitted that you don't qualify. Even with their logical explanation that your use would increase their risk you still crybaby about being cancelled.

If they included higher-risk drivers then my insurance would go up. How is that fair to me and others that play by the rules?

Not disrespectful, just incredulous that you would make a negative post, knowing full-well that you're not entitled to use the car the way you want. Sounds more like sour grapes than a legitimate gripe about the company.

[freedomgli]

Lots of insurance companies will write policies and take your premiums. The real test comes when you make a claim. Hagerty is probably the best when it comes to the small collector car guy if you can live with the policy restrictions. JC Taylor and Grundy are also good but they don't have as many perks as Hagerty (such as their parts finder service).

Whatever you do, be sure you get all your policy specifics in writing and study them carefully as they can change from state to state or from year to year. Also, make sure you have enough insurance for your car as values do fluctuate. Don't wait until you have a claim to find out you were under-insured and will never be able to afford to replace your pride and joy with a like vehicle.

You people insuring classics with non-specialists (GEICO, AAA, etc.) even with an agreed value are not getting the best insurance product for your money. They are offering a false sense of security for the same money as the guys who offer better protection.

[Skidmark]

Alex, you come across as being "entitled" to Hagerty's insurance, even though you've admitted that you don't qualify. Even with their logical explanation that your use would increase their risk you still crybaby about being cancelled.

If they included higher-risk drivers then my insurance would go up. How is that fair to me and others that play by the rules?

Not disrespectful, just incredulous that you would make a negative post, knowing full-well that you're not entitled to use the car the way you want. Sounds more like sour grapes than a legitimate gripe about the company.

I understand your perspective and certainly admit to not being an expert in the collector car insurance business. I also understand the "entitlement" issue that is rampant in US consumers and try to avoid that mindset.

I took a look at my records and the Olds has done 8,000 miles in the last 4 years. Given that use alongside my excellent credit and driving record, I never thought I'd be considered a high-risk insured. My desire to drive the car to work once/twice a month is what makes me high-risk in the eyes of Hagerty. Doesn't make a whole lot of sense to me but like you said, I guess I'm not entitled to their product.

The car is insured to a comprehensive agreed-upon value along with my homes and daily driver with Travelers. I hope this information proves helpful to the OP and others seeking insurance that meets their needs.

[barry2952]

I understand your perspective and certainly admit to not being an expert in the collector car insurance business. I also understand the "entitlement" issue that is rampant in US consumers and try to avoid that mindset.

I took a look at my records and the Olds has done 8,000 miles in the last 4 years. Given that use alongside my excellent credit and driving record, I never thought I'd be considered a high-risk insured. My desire to drive the car to work once/twice a month is what makes me high-risk in the eyes of Hagerty. Doesn't make a whole lot of sense to me but like you said, I guess I'm not entitled to their product.

The car is insured to a comprehensive agreed-upon value along with my homes and daily driver with Travelers. I hope this information proves helpful to the OP and others seeking insurance that meets their needs.

With that response, I retract my negativity.

I think you now understand.

[Skidmark]

I think you now understand.

Yup, but that doesn't mean I like it

Cheers,
Alex

[barry2952]

I didn't like it when my bank cut off my business credit line, even though I have a ranking well over 800 and have no debt. Life is sometimes not fair.

[intoflatlines]

We ended up going with American Collectors for $164/yr.

Hopefully we'll never have to make a claim though

Thanks for the advice, everyone!

[vortexblue]

I've used Haggerty, JC taylor and Grundy in the past with my old cars...

What about cars that see track use? I know that you're never covered on the track, but do I have to pay full price for a car that rarely sees street use? What about if it's on the back of a trailer? The car is 22 years old, and is not a collector car... just a track toy. But the modifications add up. What if my wheels/ tires are stolen at a hotel? etc...

I guess I never thought about this until this thread.