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General TR Insurance and appraisal of car

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Kirk_Fisher

Kirk_Fisher

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I just finished restoration of my TR4 that was in a flash flood in August 2014. I had pretty good claims service with progressive, but I want to go with a classic car insurer and have an agreed upon value policy. Who are you inured with? Happy with them? Also, I need a really good appraisal. Suggestions?
 
I am with Hagerty -- pleased with their responsiveness and confident I am protected.

They have never requested an appraisal - I have stated the amount I want coverage for and they have always agreed. A good starting point for what that number might be is their valuation tool:

https://www.hagerty.com/valuationtools/HVT/VehicleSearch/

They do require some photos - all around plus interior and engine as I recall.

I periodically update my coverage (raise the amount), only takes a minute to submit the request at their website and I usually hear back from the underwriter the same day. Again, they have never disputed my request -- really it is in their best interest to have you well covered.
 
i agree with Geo. i told them i want the 250 insured for $45,000, no problem at all never questioned the value. Sent a few photos and they sent me a quote. Very simple.
 
I'm with Hagerty also. They supposedly have a very good reputation, even to the extent of hunting down hard to find parts to put you car back together again.
 
Hagerty here as well. Friend has Hagerty and got hit by another car ( which was at fault) but the other insurance company declined to pay up. Hagerty made good on the repairs.
Charley
 
I just renewed my policy with Hagerty yesterday. I told them I wanted to up my stated value from $20K to $25K and they said fine. I have had two tows by Hagerty and when i was rearended they took care of everything. I believe they are outstanding.
 
This has certainly turned into a love fest for Hagerty - and with good reason.

But based on what I've heard from friends with significant claims experience there are others who are also reliable -- Condon & Skelly come to mind. I mention this as some like to get competitive quotes for coverage.

BTW - Hagerty has a 'special relationship' with Allstate which can be useful if you have your other lines with the Good Hands People (e.g. an Allstate umbrella policy will accept Hagerty as the underlying coverage for that part of the risk).

Hagerty is not, of course, an insurance company. I believe Hagerty is a broker with underwriting authority. The actual risk is borne by a carrier, Essentia as I recall. The insurer has changed in the past and may again. Last time it changed the switch was seamless/transparent to the insured.
 
I have been with Grundy for while. No claims so far.

Don
 
Had three vehicles insured with Condon & Skelly from the early 80's to the turn of the century. They were perfect when I needed them. I had the misfortune of totaling my Porsche 914 in 1996. In 2000 I was ready to get insurance for my '55 Ford F100 - which I did more of a "restofied" product ('68 V8, lowered, disc brakes, etc.) than a restored antique. It was not something C&S was interested in insuring so I went shopping. Ended up moving all 5 of my "old car hobby" cars to Grundy International. No claims (thankfully), but a good friend insured with Grundy has. He had suspension failure cause a one car accident that caused extensive damage to his Willy's - Grundy's claim guidance and their subsequent re-visit for what turned out to be hidden additional damage was superb. Also, at each yearly renewal, Grundy automatically increases the value of the vehicle. With my assortment of vehicles, I actually have had to lower my agreed values on one of them and increase value on another. Either way, it's seamless and they are a pleasure to do business with.
 
My agent is recommending JC Taylor. Never heard of them. She says they will need an appraisal. My TR4 is a factory hard top, "Surrey top", as some call it. I just completed a 3/4 restoration. Only thing I didn't replace was the wiring harness and I didn't take the body off the frame. I am thinking $40,000.
 
I like the fact that you can just state a value with Hagerty and if they agree that's it. I don't like the idea of getting an appraisal.
 
At the Hagerty site you can get an instant quote - does not guarantee acceptance but in my experience the quote you get there is the rate you (or an agent) would get when the policy is written.

https://www.hagerty.com/apps/QuoteMyClassic/Quote/Usa/Direct/43arzxke/Location/StateRegion

My Hagerty coverage is through my (Allstate) agent so he gets a small commission - but he does nothing. All renewals, changes in coverage etc are directly between Hagerty and me usually via email. I'm sure he would do something if I asked him, but it is so easy to work directly with Hagerty I don't get him involved.
 
Just be careful to have your agent or a claims rep explain to you what is meant by stated value and how it is applied at time of loss. All coverage is excellent until there is a loss and then some is not so good.
Also (if you carry a personal umbrella) make sure as Geo said that the antique car coverage will satisfy the requirement for underlying insurance.
I carry 2 ant autos on my personal auto policy for just that reason. The company writes them at a significantly reduced premium with no fear of how or when I drive the cars.
 
I have American Collectors Insurance - no claims yet but they are very happy to take my money every year. I chose them because they were recommended by USAA - my daily driver insurance company. Last year I tacked an extra $5K value onto my TR3A without them blinking an eye - except adding an addition $20 or so to the premium.
 
I have had JC Taylor since 1985. Had one devastating claim when my friend and I were taking 2 of my cars to a British day. My friend drove my '64 E-Type into the rear of my '54 TR2. Both cars were excellent examples and suffered considerable damage. I had the damage appraised by one of the best restoration shops in the area and they paid every penny. My only disappointment with them was just recently when they denied coverage of a restomod '47 Dodge truck that my wife liked. I wound up getting that one insured with Hagerty. The Hagerty sign up experience was very pleasant and their rate was lower than JC Taylor.
 
When it was time to insure my car, I spoke with my carrier, CSAA (AAA) here in California. Like Allstate, the rep for Hagerty too. I like my agent, so I agreed to go through AAA for the Hagerty policy. I still pay a separate fee and it cost no extra. I think I pay $375 per year for a stated value of $25K on my 59 TR3A. Insured as a pleasure driver, not daily driver. And must be kept in a garage.

Pat
 
Pat, Like Crankshaft (Phil) advised above, you may want to re-think having your TR3A insured at "stated value". You may be disappointed in what you'd actually get paid for a total loss. Plus, $375 seems high. My TR4A has "agreed value" coverage of $23,000 for $150.00 a year (and my '64 Corvette at $41,500 agreed costs $270.00).
Here's an explanation: https://www.grundy.com/agreed-value-insurance.aspx
 
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