Classic Car Insurance Price Check

[Tobra]

Hear a lot of good and bad about Hagerty, American Collector and Grundy

Anyone care to share what their experiences have been?

Will be a couple of old cars, 2 or 3

[peppy]

I just renewed with Hagerty through Allstate. Around $730/year for $40k stated value on a 1988 911 targa.

[911boost]

I use Hagerty on my 911, stated value that is pretty high, so it is not cheap. I would think are cheaper options out there.

[stevej37]

I use State Farm for the 911's in my sig.
I pay $31.19 every 6 months for each.

[ramonesfreak]

Used Hagerty since 2006. Stated value of $40k is around $800/ year. I’m underinsured. They seem high but I like the company so I stay. No claims except a front window replacement. I think I have a 5k mile per year limit but never got near that so not sure how it works. Nobody has ever asked me for any details or appraisal. They may have checked to confirm I have a garage and I think that is a requirement

[2.7RS]

And don't forget that car insurance premiums are directly related to the zip code where the car is registered.

Do you think there is a risk difference between West Texas and let's say West LA or Brooklyn?

[Baz]

I have Haggerty, Tob. 3 Porsches and some motorcycles. Never had a claim - knock on wood.

[Chocaholic]

Just switched from Haggerty to Am Collectors. Same coverage, almost half the price. No claims ever.

[blucille]

I ran Hagerty for 25 years, the day I packed my bags and left, 3 years ago, they didn't even notice. My rates had gone up 50% over the course of 3 years, while they were acquiring a variety of events companies and podcasts. I joined the Hagerty drivers club and get all the benefits. Never had a claim with Hagerty.

My rates are now back down to what they used to be for exactly the same coverage. Exactly the same.

I signed up with Chubb, a real insurance company that, as opposed to Hagerty that has their insurance underwritten by Essentia.

In December I was hit hard from behind in my original paint '83 SC, there was some fire damage and the rear of the car was a pretzel. The car was launched off the road, into a ditch of dry grass, fire ensued. But I walked away, as did the driver in the other car. Shops told me it wasn't worth it to fix the car, it wouldn't be the same. There were buckles in the rain gutters, the roof and the rear shock crossmember. and more. I had just rebuilt the 3.6 motor in the car, it was superb.

Chubb responded immediately with a full agreed value check, they went above and beyond to compensate me for the cross country transport, I was able to keep the car and parted it out. Their contracted roadside assistance company was slow to respond to the extremely rural location of the accident, so they sent me a check to compensate me. I am confident they will eventually recover all the costs from the motorist who hit me, insured by Hagerty.

Please keep this in mind. Even though I received somewhat more than my agreed value, in most cases, the agreed value will be everything you receive. So in these highly competitive times where it is very difficult to find a car, you might have to pay more than asking price, you might need to rush to get a PPI and pay extra for it, before the car sells to someone else....you might have to pay a premium to fly elsewhere to look at cars, maybe even internationally. You might need to take some time off to find that car, stay in some nice hotels, whatever. The costs to buy a GOOD car, as good as yours might end up adding 20% to the purchase of your replacement. ALL of this should be factored into your agreed value. Whatever the case.

YOUR agreed value isn't high enough. Call your insurance company today and add 20%.

I found a mostly original paint '79 SC with plenty of pantina, it will be a perfect recipient of the 3.6 and other goodies from the wreck, I've got some Martini Recaros for it---Just waiting on Brian from Rarlyl8 to complete my exhaust, been waiting 6 months, should be ready soon

BTW, I was truly very touched by the outpouring of concern from R Gruppe members, Pelican buddies and the Early S registry, the offer of help to strip down the parts car and assemble the new "plan B" car. You guys are all great and the help and concern was appreciated.

[ramonesfreak]

My Hagerty rates have only gone up when I have raised the agreed value.

[jcommin]

I'm with State Farm with my 944. $190/yr full coverage with $1g deductible. Value of car is $15K

[KFC911]

Like cell phone coverage it really varies depending upon where you live and one must shop around and compare. I pretty much self-insure a lot of things that I can easily replace except for liability coverage ... both cars & houses. I had Hagerty for my 911 before dropping them as rates crept up year after year, and that was for only 1/3 (max) of her value ..... enough to buy me a bigly beer to cry in . It would easily be 2K+ per year for replacement value now with them .... I'll go shopping instead.

[jhynesrockmtn]

My Hagerty rates had been stable for years. Never any claims. This year the renewal was over 40% higher. I transitioned to State Farm for a bit less than my previous Hagerty rate, better coverage overall as well.

[Cairo94507]

I had Hagerty for a couple of years while my car was being restored (insured as a project with parts being valuable) and then the first year it was on the road I remained with Hagerty. Then at renewal time they tried to increase my rates for the same coverage. I called Grundy and they insured me for the exact same coverage I had for about 60% of what Hagerty was charging me. Same coverage, deductible, etc.

[aschen]

Hagerty is killing it media wise with youtube and podcast sponsorships


The last time I shopped for agreed value insurance ~4 years ago they were 2x the cost of leeland west however.

[GH85Carrera]

I use ANAPAC for all three cars, and my house. I have agreed value on the 911 and the El Camino. The 911 is at $65,000 right now. That costs me $386 per year, or $1.05 per day. I have a "limit" 7,499 miles per year. I have come close to that after a 6,500 mile year but never over. They don't ever ask for a mileage report so I can't imagine how they can know how far I drive it. It is not an issue anyway. It is just a pleasure only vehicle, but my commute to work is 14 steps down the hall to my home office.

My wife's 2017 Macan is insured as a normal policy, and it is over twice as much as the repair cost of a modern car can be breathtaking.

I saw on Bring a trailer a 86 911 Carrera with 116,000 miles sold recently for 86K. I did not check it out, but I have to assume it was in great shape.

It does help for sure that both my wife and I have perfect driving records, no tickets, no wrecks, and very good credit rating. And yea, your credit rating is very important to the insurance company to determine your rates.

[unclebilly]

I have hagerty. Interestingly, they would not insure my miata and said they don’t insure cars with roll bars…

[greglepore]

I have American Collectors. 2 cars with agreed value, the 911 and an SL600 Benz. Premium is around 400/yr with agreed values of 35k/15k. Yes, I've looked at 911 prices but my car is modded and I think the value is probably realistic. The interesting thing was that the Benz only added something like 100/year to the premium, there is a serious multicar discount. And little in the way of driving restrictions other than you're required to have a real "primary" vehicle.

[Deschodt]

Hagerty is *not* the cheapest. However, from experience, they delivered when I needed them - handsomely, no Q asked. A goof friend uses "another" name on that list which was cheaper, and had a lot of hassles to get paid properly.

Also Hagerty does a lot for the classic car world and puts out quality youtube stuff (All Jason Cammisa's videos for one - hilarious stuff). I support all that for a small $ difference and peace of mind.

[911boost]

That is interesting they don't insure cars with roll bars UBilly. I guess my RS has a "harness bar" and not a roll bar lol.

My stated value is pretty high and based on what everyone else has said it seems to be in line with what they are paying Hagerty.