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"When this has been suggested in the past, some people point out that Hagerty is hurting themselves by paying out for over insured vehicles, but maybe they do so little paying out, that there is not much risk there for them?"
Yeah I had someone tell me that once. Then I asked him to tell me with a straight face that Hagerty does it because they lose money doing it. I can guarantee that they do not lose money doing it, if they did, they wouldn't do it. They do pay their claims. True story - My friend completed a 2+ year 1.5 resto on a '67 E type roadster. new sills, floor pans, etc, complete mechanical, bare metal PPG, etc, etc. no bondo, all lead in the seams, absolutely drop dead gorgeous car, he is an absolute artist. He had it on the road for one month and because of a senior moment ended up with a BIG dent and crease in the hood or "bonnet" in Brit speak. It buckled the bonnet and bent the front subframe. The same incident destroyed
his tool chest and pushed in the wall of his bathroom some. As you can imagine he was sick for a few days. Anyway Hagerty paid the $10k+ claim to have it repaired at a very high end shop and they did a superb job, a lot of old school metal work with the dollys, shrinking disc, etc, no lead or bondo, you cannot tell today. No hassle whatsoever and they even gave him four free ticks to the Vintage w/e at the Glen and he gave me two ticks. Not sure if they covered the shrink's bills though...
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