In your opinion, who provides the best agreed value car insurance and why?

• Is it the yearly mileage you're allowed to drive, as well as the overall coverage?
• Is it Customer Service and responsiveness that is given?
• Is it hassle free to get this insurance, or does the co. have you jumping through hoops. and what do they want you to do before they underwrite you?

Please provide your comments. Thanks.

 

I believe that any insurance is only worth what what you get if you have a claim. What else really matters? So unless one has a claim settled (or knows the exact circumstances of other's claims), one doesn't really know how good their insurance really is.

 

No different then shopping for conventional car insurance. Pick several companies get on the horn compare prices, conditions and benefits.

 

I've been with American Collectors for over 20 years.
http://www.americancollectors.com/Co...r_Vehicles/15/
Haven't had a claim, so no personal experience with claims.

But I do want to mention and stress (as Dan has pre-qualified), make sure you have an "AGREED VALUE" policy. I cannot see any reason to consider any other type.

 

I have American Collectors as well with agreed value policies.

 

We have Grundy on the wife's car and will be getting it on mine. It is an agreed value policy so it is an amount we have both agreed upon not a stated value or appraised value. Only stipulations really are that it must be garage kept. Can not be used as daily transportation and you must provide proof that you have a daily vehicle. It can not be used for errands and such, back to the dailt transportation and such. It can not be driven to work. I suspect because rush hour traffic is when most accidents happen and your car will be unattended for hours at a time in a parking lot where it could easily be damaged or stolen as it is predictable when people come and go as workers. And I believe no one under 26 can drive them. There is no mileage restrictions.

 

I have Hagerty Insurance on mine. I completed the signup on line, it was easy. You pick the value you want to insure it for and go from there.

I had to sent them a photo of the car and they require it to by garaged.

No clames to date (knock on wood)

 

I'm just getting back into the classic car stuff and went with Hagerty for my 65. The policy looks really good (I'm in the insurance business) with coverage and limitations. I have both my wife and son (18 years old) on the policy and its dirt cheap. The exclusions are pretty much in line with the use spelled out in the PA classic car plate limits.
Gary

 

I have Hagerty. On the day the insurance was first effective I picked up my car and a vacuum line broke. I called Hagerty and got roadside assistance in 30min. Got a 17 mile flatbed tow to home at $0 cost to me. While of course not a claim for damage I was impressed at the service.

The policy rates are very good. I have my car insured at $110K which is $45K more then my new MB and the rate is almost half. But as previously mentioned the car must be garaged, not used for commuting, or even shopping. There is no mileage restriction. And as the other poster mentioned you must show you have another car available for normal everyday driving.

 

Hagarty seems to be the most popular insurance. This is what I have been told time and again at car shows. However, they aren't the cheapest. (Nor is Taylor).

I was told by Heacock Insurance that if I want to extend the agreed value to past $30k (for most cars), I would need to have the car appraised (this is expensive). Also I would be limited to either 1500, 3000, or 5000 whichever I chose. (The more mileage you want to more expensive the policy). Also, the garage parking rules apply, along with sending in photos of the car and engine. The upside to Heacock is they are the cheapest I've seen; (except if you plan on getting an appraisal - I think that this is an issue and also a question to ask each company going forward.).

An appraisal would be okay, if you were going to get one for your car any way.

 

I use IGN. I just got my car appraised as it's a requirement for my insurance. It will be insured for the appraised amount. There is a 5,000 mile per year limit (unless you are going to a car show) and since my last appraisal 5 years ago I put 10,000 miles on the car and that includes a trip to Seattle, which wouldn't count since I went to the OCA Nationals. Can't drive it to work UNLESS I'm taking it in for an appointment for service. No drivers with less that 10 years experience and I pay 1% of the cars value. Garage storage is not required. Insurance includes up to $7,500 in spare parts loss and free road side assistance.

 

I have American Collector for my 70. I also have had a claim. I had it in the driveway and my portable canopy came up out of the ground on one side from the wind.One of the posts went right through the convertible top! Thank God it did not damage the paint or interior. What I was left with was about a 8 inch hole. I called them and they said to get an estimate and mail it to them with some photos. They didnt send anyone out to even look at it. Within a short amount of time I had a check in the mail with no questions asked! I was very pleased.

 

Who is IGN and what is the definition of spare parts loss?

 

I just switched from American Collectors to Grundy. They do not have any mileage limitations and I can use it for more than just shows or pleasure drives. I was told it was even okay to use it for limited errand use. Same agreed upon value and it was even cheaper than Am collectors. I have only heard good things about Grundy. Does anyone have a negative story about them?

 

I have been with Condon & Skelly for many years. My home and other cars are with Chubb Insurance and so I likely will go with Chubb for the 7 antiques that I own. They say they insure some 20000 collectors and I believe that. Their policy is agreed value and their road service coverage is better than C/S. They were slightly more than C/S but they are willing to insure a 1997 Corvette that I drive very sparingly (less than 2000miles a year.)

 

I settled on Hagerty after doing my shopping. Several insurance companies weren't interested in insuring an unrestored original car that was being restored. I found the difference in carriers to be few, but it all comes down to how you want to use your car it's current condition.

 

I am also looking for collector car insurance but the companies I spoke with indicated the car had to be garaged at my house. I currently keep it in a rented garage about 5 miles from my house as my own has been converted to a den. Does anyone have coverage under similar circumstances?

Richard.

 

When I spoke to a Hagarty agent on Friday, all he asked regarding a garage is whether or not it was kept in a locked garage. Although my car is at my house garage, I don't recall mentioning it. You may want to check this out for yourself with Hagarty or others, as every agent may have their own interpretation of the rule.

 

Thanks Dan, I'll talk to a couple more companies and see what they say.

Richard.

 

Hello,

Well I had safeco collector car insurance and a stated value policy. Mine was totaled and safeco paid with out too much fuss. With the stated value there was no issue on value. Be careful as some of the policies will cover you up to that amount but not for that amount. I have heard of others thinking they had coverage for say 25K but to find out it was up to 25K and then the insurance company saying it was only worth like 17.5 so that is what was paid. just make sure you know what you are buying. Insurance is a product that you buy that you really need to understand to make sure you are protected.

Also Safeco allows you to drive the car with no restrictions other than milage not to exceed 2500 and if you want to drive more it can be negotiated. I have heard some say you cant do errends with there insurance or go to stores. Mine was totaled while we came back from the drive in movies at 12:30 am and no questions asked. Summer days driving to work are not an issue. Basicly you can drive your car when and where you want.

Just bought another car and will not even consider another collector car insurance and just bought another policy through safeco collector insurance.
Thanks just my 2 cents

 

I decided on Grundy Classic Car Insurance - Agreed Value.

I was able to get an ageed value of $35k, without an appraisal (Hagerty requires an appraisal for over $30k, and appraisals are expensive (typically $250-$500). I also got a better deal with them (over Hagerty) - saved $46 per year and with less signup hassles and a greater liability rider. Windshield glass, as well as all other glass around the cab, and headlamp replacement is also included. So is towing. They are easy to do business with and helpful.

 

As I said in response to your post in the other thread:
NO, NO, NO! "Agreed Value" is preferred. "Stated Value" does *not* mean it can't be argued, it is quite the opposite. Agreed Value is what can't be argued. Stated Value can be "argued" and often is. There is absolutely no guarantee that you will get the full "Stated Value". I know the terms can be a bit confusing, but look at the words "stated" and "agreed". That says something. If you got your stated value, great! But please understand that it is *not* a given with Stated Value. They simply determined that your stated value was reasonable. Whole different story if they didn't!

 

Well stated Kurt.