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craig001

Fortunately, I haven't made any claim against Sneed yet. I'm not sure they will cover DE event, but it seems they will give us a group rate if we get enough people together. Corvette club already has a group discount rate.

Old 05-16-2005, 06:48 AM
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Wanted to reinvigorate this post. I just signed up with hagerty here were my issues. Think Hagerty was a step up from state farm for the price but not sure hagerty is the best choice.
1. Price - State Farm TX $226 every 6 months for Unlimited Driving - no comprehensive for that price. Hagerty was $210. Hidden from their website application was $100,000 /$300,000 uninsured, liability, and property damage - so you have to ask for that.
2. No longer a limitation for a over 5 year old daily driver (although I'm still awaiting final acceptance from underwriting).
3. Major consideration was right to purchase back your vehicle in case it is totaled. Hagerty had that clause in their underwriting. State Farm Comprehensive can take your car and sell it off for parts after giving you low book value to recover their costs.
4. Very curious from this thread if I can drive the car to work at all as one of the questions asked on the web application was whether this car would be used in case the daily drivers were not running. Going to look at Sneed. Once I get to California and drive the car daily is there a way to insure the car as a semi-daily driver without having to go the State Farm minus comprehensive route?

Thanks
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Old 10-13-2005, 08:05 AM
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Quote:
Originally posted by Coral Red Syd
4. Very curious from this thread if I can drive the car to work at all as one of the questions asked on the web application was whether this car would be used in case the daily drivers were not running. Going to look at Sneed.
As mentioned before Haggerty does not allow one to drive to work. Even ocassionally.
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Old 10-13-2005, 08:28 AM
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I'll have to check their underwriting. Would be interesting to see if they'd accommodate a limited commuting clause. Is it prohibited in the policy anywhere - what's the wording
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Old 10-13-2005, 08:45 AM
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Sneed won't insure a 911 for less than $15,001. I just tried it and it said INVALID. So I bumped it up to $19K and here are the results.

FYI the difference between a $250 ded. and $500 is only $20 a year on the premium.
Also, there app form is 14" long so a standard laser or ink printer wont print it properly. I am taking the file to Kinkos to print out.

1982 Porsche 911 SC

Value: $19,000.00

Coverage:
Single Limit Liability: $100,000.00
Personal Injury Protection(PIP): Minimum Included
Medical Payments: Minimum Included
Uninsured and Underinsured Motorist: $100,000.00

Liability: $162.00
Physical Damage: $218.00
Total Estimated Annual Premium: $380.00

Deductible: $250.00
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Last edited by Nickatnyt; 10-13-2005 at 10:12 AM..
Old 10-13-2005, 09:51 AM
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> NO USAGE RESTRICTIONS* - With Sneed Classic Car Insurance you can not only take your classic car on an occasional Sunday drive but you can also take your friend to dinner or occasionally show it off at the office. Basically, you go anywhere you want anytime!

That part is new.. I might look into them now.. Before they were not so candid about occasional drives to work !!!
Old 10-13-2005, 10:37 AM
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OK an afternoon on the phone with Sneed and Hagerty:
Here's what I found.

1. - Car gets totalled:

Haggerty -
Classic car insurance. In your auto policy statement the wording is that you have the right of first purchase of your car if it gets totalled. You must notify them of your decision to retain the car before claim disbursements. ( I have a copy of the physical policy)

Sneed -
80% loss and they keep the car = aka you'll see your 911 parts on ebay(phone call to customer service)



2. - Driving your classic occasionally to work.

Haggerty -
In the application if you put you will drive your classic car to work when your primary is being serviced then you can drive your car to work. However nowhere in your policy statement does it note such - so this is a 'soft' agreement. I would prefer to see it in writing in the policy a clause to that fact rather than leave the terms 'pleasure' 'leisure' vs 'daily drive' open to legal interpretation. What I've come to understand is that Classic Car insurance is really not designed for daily driving. The words 'pleasure' or 'lesiure' use are subjective and an insurance adjuster could choose to deny your claim if you drive your car to work even if just that one time'. If so, its then up to the attorneys with the scales tipped in the onset in haggerty's favor under the typical premise that classic auto insurance is for 'pleasure' or 'leisure' use. The fact that you state you will drive your classic in place of your daily driver helps tip the scales a little in your favor.

Sneed-
(phone call to customer service) Yes, you can drive your classic car to work on occassion if your primary vehicle is in service or you choose to show off your vehicle. While Sneed was more candid about discussing this topic I have not seen it in their policy agreement terms that you can in fact drive your car to show it off at work. I'm more inclined that their wording will allow such after reading their website. (if someone can check their policy for the wording).

Bottom line:::
Haggerty allows you to retain your vehicle in the event of a total or almost total loss. Very important if you want to retain useful ro rare parts. You buy the car at salvage value and haggerty gives you (or should) give you the total agreed upon value.
Haggerty leaves occasional driving to work subjective.

Sneed retains your vehicle in the event of an 80% loss.
Sneed you can drive to work occassionally (need policy wording to confirm.)

State Farm daily driver insurance. More expensive. Low book value disbursement in the event of a total loss. Will keep your car if there is an 80% loss and sell it off to a salvage lot.

One note - It may be worth talking to Haggerty or Sneed to have them create a custom policy much like a homeowners rider that lets you have:
- Agreed upon value.
- Occasional Driving to work or wherever you like.
- Right of first purchase in the event of a total.

Albeit if your looking for a daily driver car ecomically go with State Farm type for the months you want to drive the car (its a pain, but no start up cost) and don't carry comprehensive. The difference is a couple hundred dollars a year.

Hope this helps.
Thanks All.
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Old 10-13-2005, 12:19 PM
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Quote:
Originally posted by Deschodt
> NO USAGE RESTRICTIONS* - With Sneed Classic Car Insurance you can not only take your classic car on an occasional Sunday drive but you can also take your friend to dinner or occasionally show it off at the office. Basically, you go anywhere you want anytime!

That part is new.. I might look into them now.. Before they were not so candid about occasional drives to work !!!
When did you check last? This was posted for some time.

Coral: Did you ask the Haggerty operator if you could ocassionally drive to work? If so, what was the response. (BTW, great info on claim coverage)
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Old 10-13-2005, 12:36 PM
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A while back... I note that you're allowed to bring your car to work to "show it off" or if your car is in the shop. That's still borderline for me... I'd like to be able to drive it whenever wherever, just as a secondary car... Technically Sneed is pretty much the same as Hargerty in that respect, a bit more lenient, but if you were to drive it regularly to work (2 days a week say) it would violate the agreement, I bet... If anybody signed with them (Rick , I know you did) how many miles per year did you report on the application ?
Old 10-13-2005, 12:41 PM
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Not sure its relevant as I am based in Europe, but I use Aon for two of my cars and they are excellent. I sort of thought they are a US company?
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Old 10-13-2005, 12:53 PM
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I've just signed up with Haggerty to get more information and checked today with Sneed 10-13-0005.

While Sneed does seem more lenient with 'occasional' drives it still is classic auto insurance with its premise of 'limited' use.
Bigger for me is that Sneed will keep your car if you total it - prompting an insurance adjuster to try to recover the loss of a claim payout by claiming your car as totalled when it really isn't and then undercutting you by giving low book value.

Haggerty or Sneed would be fine on the issue of 'daily' vs 'occasional' use or 'pleasure' use. I would venture that a good attorney (if one could ever find such) would have to argue the point of a daily driver and that you retain and insure another vehicle. Sneed is more lienient and I would go with them if it were not for the totalled and salvaged bye -bye car item.

There's no perfect senerio I guess.
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Old 10-13-2005, 12:56 PM
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Oh yes, when I asked the phone rep at Haggerty if I were covered if I drove to work she indicated that I was and that underwriting had approved my application. She noted that I was covered because I indicated I would use my porsche occasionally if my other daily drivers were in service or temporarily not able to be driven. However, when I pushed a little on that point there was nothing on the policy agreement that truely acknowledges that I am covered when I drive to work. the key distinction was the term 'daily' driver. Again the premise of the classic car insurance is that you are not using the car for 'daily' use. This is very fuzzy legally and is left up to the adjuster in the event of a claim - initially until you would appeal.
Unless the policy like state farm does directly states ' can only be driven for shows or to and from shows, or parades' can you really not drive anywhere else. Given the fact that Haggerty and Sneed require you to have proof of another daily driver then you are pretty much covered. They can offer lower premiums only from the assumption that you will drive less therefore your chances of getting into an accident are less and that you are more careful with your classic car.
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Old 10-13-2005, 01:07 PM
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Coral, the way I read the above is that Sneed doesn't give you "low book value" in the event of a total--they give you the agreed upon value.
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Old 10-13-2005, 01:42 PM
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I read that State Farm provides only a stated value, you want agreed value. I believe there is a serious difference between these two terms.
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Old 10-13-2005, 02:12 PM
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Coming from the insurance business, some of what you have been told may not be 100% correct. I will throw a few things out, and I hope I don't confuse matters further.

First, a clarification of underwriting versus the insuring agreement (policy contract). Underwriting is the process of evaluating you as a risk and applying the correct rates if the insurer decides to insure you. Insurers do this based on information you provide as well as information they collect from 3rd party sources (your credit record, motor vehicle reports, etc.). In most states, when an insurer agrees to insure you, they have a short period of time (usually 60 days into the policy) where they can cancel you for any non-prohibited reason (think race, color, creed, etc. as prohibited reasons). After that, they can only cancel your coverage (during your policy period) because of a material change in your risk profile, not because their EVALUATION of your risk profile has changed (an important distinction). Of course, insurers are free to nonrenew your policy when it expires for a whole host of reasons. The bottom line is that once an insurer agrees to insure you, it's very, very difficult for them to deny a claim based on underwriting reasons.

The second component is the insuring agreement (policy contract). Any limitations on coverage MUST be written into the contract. If an insurer wishes to exclude coverage for driving to/from work, it must say so in the contract. The fact that they use that characteristic in developing rates and as an underwriting screen will not make it a basis for denial of a claim. What happens when this type of situation arises is the claim is paid and the policy is nonrenewed by the insurer at the date of expiration.

Finally, a comment about claims handling. Claims is always a negotiation process. Again, unless it's written into your insurance policy/contract, a company cannot stipulate that they keep your car in the event of a total loss. In fact, insurers would rather not take your car as they are not in the salvage business. You'd be surprised at how much they have to pay for towing, storage, and salvage fees. So, when faced with the total loss situation, negotiating to keep your car won't be difficult, and you can contest any settlement offers you don't like. It's even easier with an "agreed value" policy because you're not negotiating at the time of loss what your car's worth. You'll only have to negotiate a far salvage value (what a wrecking yard will pay the insurer for your totalled car). And, you're freeing the insurer of extra towing & storage fees.

Sorry for the long post, but I wanted to offer an "insiders" perspective. As to what I have? I have an antique car endorsement with agreed value on my standard auto policy with Safeco. The statement of coverage for my 911sc reads:

"Coverage applies provided such auto is maintained solely for use in exhibitions, club activities, parades or other functions of public interest, and is only used infrequently for other purposes."

"Infrequently" is highly subjective, but it just means that you won't have TWO claims driving to/from work because after the first, you'll be re-rated as a regular use car or nonrenewed at your next renewal.

Tom
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Old 10-13-2005, 02:23 PM
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P.S. - Yes, you want "agreed value". "Stated amount" only benefits the insurance company. Most companies base their comprehensive and collision rates based on the cost of a vehicle when it was new. Well, a 25 year old Porsche had the same cost new as today's Honda. When it comes time to settle a total loss claim, the company will pay you the LESSER of the stated amount or actual cash value (subjective) under a "stated amount" policy. Under "agreed value", they just cut you a check for that amount.
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Old 10-13-2005, 02:30 PM
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Quote:
Originally posted by tdatk
Whew,
I'm with State Farm collectors insurance. Full coverage, stated value no milage restrictions and no restrictions of any stated sort. Stated value $20k. $250 a year. 500 deductable. Whats the issue?
Oh ya I have to keep it in the locked garage at night.
Not available where I live. State Farm Collectors is only for shows and parades.

Also, ELITE Collector Program (www.amig.com) will NOT insure vehichles over 50,000 miles.

Last edited by Nickatnyt; 10-14-2005 at 12:16 PM..
Old 10-14-2005, 12:11 PM
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Any one care to comment on Leland West?
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Old 10-14-2005, 12:12 PM
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Originally posted by Nickatnyt
Not available where I live. State Farm Collectors is only for shows and parades.

This is available in NJ. It is strictly limited to Car Shows and Parades. I'll see if i can scan the info.

Regarding the Haggerty rep stating one can drive to work; I asked and was told I absolutley could not, under and circumstances, drive to work. I also do not drive my my 911 frequently (IOW, less than a daily driver). If I did I wouldn't be looking for Collector car insurance.
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Old 10-14-2005, 12:22 PM
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If I can pipe back in...I had an $8500 accident a couple of months back in my 911 and am insured by Hagerty. I was driving during "rush" hour but not back from work, was at the park with a group. Hagerty never questioned the accident, timing, location, etc, paid in full, no deductible at the body shop of my choice.

That said, I am certain that when it comes time to renew, I'll be going back to USAA where the rest of my vehicles are insured....

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Old 10-14-2005, 01:13 PM
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