Curious why Leland West dropped many policies

[93097004xx]

I like many of you got the letter stating Leland West was no longer servicing a policy that would fit my parameters.

1979 930
Agreed value 175k (they themselves placed this value I had originally insured for 150k)
Lives Indiana

I see they are still in business but looks like they are only insuring certain cars…

They set me up with hagerty who dropped me down to 150k of insurance and more than doubled my premium from $827 to $1875

All this for a 3rd car never driven with 500 miles a year of less I stated would be driven in my estimate.

I kinda feel like Hagerty somehow got these policies off Leland West in order to double the premiums.

I also find it suspicious that the folks I have read that had this happen all had cars valued over $150k and every time Hagerty doubled or more the premiums…

Thoughts here?


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[93097004xx]

I’m seriously thinking about shopping around as I really feel like Hagerty is now taking advantage.


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[slow&rusty]

Hagerty are very expensive and I have not had particularly good luck with claims. I have a friend that works for Hagerty, he recently mentioned that there are lots of changes there, internal restructuring that they are keeping hush-hush, quite a few lay-offs, cost-cutting and raising rates.

I strongly recommend Grundy. I've had them for a decade and been very happy with them esp. compared to Hagerty.

[Alan A]

Hagerty sucks.
My one claim with them was a disaster and then after it they dropped me.
I don't know why people laud them.

[Hads930]

Will be shopping today or next week as we received the same notice. Hagerty sent a quote that tripled the rate on our fairly unique 87 930. Drove it last month for the first time since March of 2022. Pretty sad, I just wash it, license it, and insure it.

Please update with anything you deem important to anyone shopping and I’ll do the same.

[rfuerst911sc]

In the past I had Grundy , was happy with the rates but never had a claim . I now have Porsche insurance as it is available in Georgia . Again happy with the rates but haven't had to make a claim .

[Zeke]

My regular insurance is right there with one of these collector policies. 4th car, 2 people, driven less than 100 miles a year. In reality, zero. The car is a '44 Jeep. Value may be understated as I haven't upped it at all. $10,000

[Starless]

I went from Hagerty to American Collectors. Half the price and I can drive my car. Only claims have been 3 tows ( long story) which they covered completely and paid promptly.

[LWJ]

The insurance industry is having all sorts of issues currently. Subsequently, people are getting dropped and rates are going nuts as the carriers figure out things.

This will stabilize in a year or less. It does suck to have inconsistency. Sorry. I didn’t cause this.

[RANDY P]

I dropped Hagerty and went to Safeco for collectors on 2 cars. Blew them away.

rjp

[GH85Carrera]

I use the same company for my house, and three cars. American National. They have regular car insurance for my wife's Macan. My two cars have agreed value "gold" policies for cars over 25 year old. I had to get an appraisal on the 911 and show the Hagerty valuations for the 911. The most expensive vehicle to insure is the Macan. Likely for the cost of repair of just a fender bender.

Back in 2017, while in California a crazed deer tried to jump through my windshield. She crushed the trunk, and and dented the left fender and destroyed the windshield. I called my agent, and he found a windshield place in San Diego. I had the fun of driving the 405 in LA at rush hour with a windshield that was smashed. They installed a new Sigla windshield, and I drove it home to Oklahoma. The adjuster came to look at it, and said I could get three estimates and pick the place I wanted. I went to two body shops I know the owners of and they specialize in expensive cars.

In the end I knew who I wanted to fix it. A small shop in Guthrie, OK just 18 miles from my house. My instructions were simple, make it look like this never happened. It was just the ultimate bug hit. He repainted the front valance, bumper found a used hood, and two fog lights, headlight rings and made it perfect. Pretty much everything from the windshield forward. It still looks great.

[greglepore]

I suspect that now that 930 prices have been high long enough that the criminal element has noticed, that some insurance companies don't want the theft risk. Also, suspect the loss ratio isn't pretty compared to some other collector cars.
I've been with American Collectors with various vehicles since the late 80's. Awesome the whole time. One deer claim, no issues, didn't even look at the car. But I worry that the market will affect them eventually.
BTW, I insure a 911 with a "lowish" agreed value (around 40k, probably all my modded car is worth) and a v12 r129 sl600 for under $500/yr, and 70% of that is the Porsche. So the sl is like $150 bucks.

[fastfredracing]

I use American Collectors .
76' 930 , agreed value 170k ( set by them ) premiums are 850 ish yearly . I drive under 500 miles a year

[Joe Bob]

I'm waiting on my next Haggerty bill.......good alternatives in this thread.....

[Hads930]

Originally Posted by RANDY P

I dropped Hagerty and went to Safeco for collectors on 2 cars. Blew them away.

rjp

Is your Safeco policy an agreed value policy?

[Icemaster]

I think I had had Hagerty for one cycle, rates went up 30% year over year. Dropped them and went American Collectors like several others. Would not go back, they were easy and incredibly helpful.

[steve911T]

Originally Posted by RANDY P

I dropped Hagerty and went to Safeco for collectors on 2 cars. Blew them away.

rjp

Used them for years, Porsches only

[KFC911]

Hagerty varies from state to state .... mine was farmed out to a company I didn't even recognize back when.

Regardless .... I'd bet it's not Leland West doing this this .... probably their underwriter.

Had a similar issue with Amica and homeowners' policies a few years back... Amica had no choice... at least that's what the rep told me.

[Zeke]

Commercials on a race yesterday for Haggarty seemed to want to appeal to all cars. So this morning I went to their website to confirm that they are still 100% classics. I have no idea of where the cut off point is.

[MrBonus]

I've been happy with Hagerty over the years, only ever needed them for towing service thankfully, but the price point has become absurd in recent years. I'm paying $500 more per year than either of our daily drivers for a car I basically use for car shows, cars and coffee, and weekend backroad jaunts.