oldgoat69

For those with cars classified as antique or collector cars, who do you have as a carrier? I am up for renewal and am looking at options. My car does not technically fit the guidelines any more for my current carrier.

1989GTA

While watching the Barrett-Jackson auctions I saw Hagerty(sp) doing some advertising. I may be doing the same myself so let us know what you find out.

KY Nova

iTrader: (1)

I have farm bureau. The difference between liability and full coverage with $35000 was $35 a year more. Had to get an appraisal though for them.

S10xGN

iTrader: (11)

Heacock Classic, I have 32k on my Maverick for $325/yr and my little '63 Rambler American is $25/yr extra...

sierrac3_s2000

iTrader: (6)

I used Hagerty but there are some things you need to know. There are actual value policies and agreed upon value policies. Most of the big name insurance companies will sell you an actual value policy. So lets say you have an older car that on the books is only worth $5000 to $10,000 but you have lets say $50,000 into it.

With an actual value policy you will pay a premium on that $50,000 amount. However if you ever have a claim, an adjuster gets to determine what your car is really worth at the time of the claim and you pretty much have no recourse on whatever value he comes up with.

With an agreed upon value policy you still pay a premium on that same $50,000 but if there is ever a claim then you receive the full $50,000.

Hagerty actually raises the value of your policy each year that you don't have a claim. However when I had to make a claim on my agreed upon value policy because my car was stolen, they sent an independent insurance investigator to check me out for fraud. They even refused to pay the claim until I could prove that I had that much into my car. I was pretty ticked about that since they didn't ask for any proof prior to me paying a premium for a few years on that amount. However after sending them my spreadsheet and an inch thick stack of receipts they did send out my check.

So just be careful on what you are paying for because if it depends on an adjuster to determine what you car is worth you could be out of a lot of money.

71403

JC Taylor

They seemed the least restrictive so went with them. Choice can depend on the vehicle and what you're looking for - mine's a 20/20 car so $88/year vs $500+ year for conventional ins was the deciding factor.

Doug G

I have State Farm with an agreed value of $20K @ $212 a year.
I have called Grundy, Hagerty, American Collector, and a few others....thay were pretty much all the same price.
As said above.... go with the Agreed Value.
I was in an accident where someone crossed the double yellow line, side swiped my truck, went up on the trailer side swiping my Camaro, and totaled the trailer. ($2800 to truck, $10K to Camaro, $3000 for trailer).

All fixed, no real issues

Pop N Wood

iTrader: (1)

Collector's insurance just doesn't seem worth the worry. I've heard too many stories where everything seemed agreed on until a claim is made. I always like how people say how happy they are with their insurance companies when all they have done is mail them checks. Getting them to send money the other way is usually a whole different story.

Just carry liability on the car so you can legally drive it then use the money you save to buy lottery tickets. You will have a better chance of collecting that way.

john j oliver

iTrader: (4)

I just recently when thru this but mine had a different twist. I have a conversion. 95 Camaro with a modified 465 hp and 460 ft lb torque LS1 DAILY DRIVER. Making a daily driver changes everything when it comes to insurance. My insurance agent when with auto owners ins. With a agreed value of 28k. I don't know what the final price is as it will be coming to me shortly plus I have my wife's and my truck on the bill.

oldgoat69

The reason I ask, is that I have American Collectors now with agreed value. This is all based upon the car being in "stock configuration". When I talked to them about the modifications I had made, brake and suspension upgrades as well as the engine, I thought the person I spoke with was going to swallow her tongue. She could not quote me a price. My biggest concern is having coverage adequate to replace the car or repair it, and have the latitude to drive it when I want to, while allowing the modifications. Like all of us, this is not a car I commute to work with every day or drive in the rain and snow. It sits in the garage under a cover in bad weather and gets driven at off peak hours. I still want to be able to drive to work once in a blue moon and not be faced with a coverage denial if something happens. This is precisely why we pay the premiums.

sierrac3_s2000

iTrader: (6)

The car that I had agreed value on was a 97 Nissan 240SX with my L92 swap. It was built pretty much as a demo / show vehicle and as I said I had $50,000 in receipts for it beside 3 months of labor. With the agreed upon value, once I showed all the receipts, Hagerty cut me a check for $52,000. My car later showed up burned completely on the side of the road. With agreed value you will get your money out of it if you have a claim. However there are sometimes stipulations on the mileage.

Rocketrod

iTrader: (2)

Very good points on the agreed versus actual policies as most don't understand this until they have a claim. The other thing to consider is how much and where are you allowed to drive the car? With Hagerty my policy does not allow me to drive the car to work, or use it as a daily driver, plus it must be garaged at my main residence or it will not be covered.

Now I have been with Hagerty for about seven years and prior to approving my policy I had to provide specific pictures and a spreadsheet with all of the $$ I spent on the car. I have also never had them increase the agreed value amount unless I requested it.

Moter

iTrader: (20)

I had Grundy on my roadster. 40k agreed replacement value was 279.00 a year