Hagerty Insurance...Safe Bet?

[Sunroof]

A month or so ago I was at a British Sports car show in North Georgia and the folks from Hagerty set up a kiosk with all the info about collectible car auto insurance. Very interesting, and almost too good to be true!

Without getting into great detail, the annaul premium is excellent, the replacement values high (agreed upon value), very limited restrictions, no deductions and undercutting my existing State Farm policy by hundreds!!!!!

I do not know what to think since I have always been skeptical of anyone but the major companies. I have seen Hagerty advertised but know little about them. Can anyone provide an opinion or two about their experience with Hagerty so I can decide whether or not to take the plunge here.

Thanks
Bob
73.5T

[logan2z]

I haven't used Hagerty but I understand that they're a pretty reputable company. But there are several well known classic car insurance companies out there and it's probably worth shopping around a bit. I recently got quotes to insure my '95 911 (with an agreed value) from Hagerty, Grundy, American Collector, and Leland West and found that Grundy had the lowest quote and the least restrictions on use of my vehicle.

[gsjohnson]

I have had my 2 cars insured with Haggerty for several years now. They use an underwriter for their policies. I haven't had any claims with them, but I feel very comfortable with them.

[geshaghi]

I use Hagerty for all my classic cars. Never had a claim, thankfully, but they are professional, courteous and responsive.

[NJR911]

I also have used hagerty for the last 7-9 years. I once sold a car that I had just insured with them, when I called to cancell the insurance they sent me a check for not having the car insured for the whole year. First class service.

[MikeD930]

I have Hagerty on my '87 930 since May '09 when I bought this car. I had less than a week to obtain auto insurance when I was buying this car. Hagerty was able to provide coverage on short term notice. They were very professional.

[pwd72s]

Originally Posted by NJR911

I also have used hagerty for the last 7-9 years. I once sold a car that I had just insured with them, when I called to cancell the insurance they sent me a check for not having the car insured for the whole year. First class service.

Same here...a refund check. But...never had a claim, so can't speak on that.

[domimax]

I use http://www.condonskelly.com/web/PublicPages/Home.aspx. Great service, people and price. I have 3 cars insured with them.

[domimax]

The law reads they must refund the amount of the policy not used if you inform them you no longer own the car. They have no choice.

[NJR911]

See you can still learn something everyday. However the insurance is so cheap I never expected or thought of getting money back.

[Starion1974]

I just insured my '87 911 and shopped around - I was most impressed with American Collectors Insurance and the rates were great.

[Cal44]

I've used Hagerty for three years. Have three cars with them. Service is professional and friendly. If they were anything other, I would be the first flog them.

[WilsonTC]

Hagerty is great. I had them for years (until they started upping the premium for no reason).

They are one of the major players in classic car insurance. Be sure to read/understand the restrictions, though:

Must have car stored in locked garage (not carport). Occasional pleasure driving (no errands, Home Depot runs, etc.). No driving to work/business. Must have one additional registered & insured car for each licensed driver in the household, etc., etc.

[Sunroof]

I have yet to read a Haggerty contract, but in talking to rep. on the phone recently, they will allow up to 3,500 miles a year in driving. Going to work occassionally was acceptable. They expected many would drive long distances to shows or events annually.

What really amazed me was the, "agreed upon value". When asking what their "value" was for my car (1973.5T) when stated it was in excellent condition they quoted up to mid-thirties!!!!!!!!!!!!! A "concours" model would be well into the 40's. Apparently they are still using values well before this recession hit.

So, to insure my car, be allowed to drive up to 3,500 miles a year with a towing option would be $308.00/year. Thats very reasonable to me.

Okay, what documentation am I to provide for the stated condition I asked. All they wanted was one photograph....no restoration records, nada!

I still find this too good to be true

[domimax]

Sunroof, it is true. They would not offer that rate if the actuaries did not run the numbers and slant them towards the company's side. The pool is that big!

Haggerty's now prints their own price guide and that is what they are using to estimate value. You can now subscribe to their guide just like any other guide.

[Sunroof]

Well then, I am sold because they have my current State Farm coverage beat by a mile!!!!!!!!!!

Thanks

[emoore924]

I have Hagerty too and have had them for years. Yes, they apparently outsource the underwriting.

Can anyone relate a personal experience with their claims department, hypothetically if you need to...

[domimax]

I can related to my claim with Condon and Skelley. I paid an extra 10 bucks per year for towing on each of my 2 classics. One Alfa and one Porsche. They have both needed towing once and I got paid for the tows in full. Am covered up to 110.00 per tow.

[domimax]

Link to Hagerty's new price guide:

http://www.carsthatmatter.com/

Personally, I like CPI.