• Hi Guest!
    You can help ensure that British Car Forum (BCF) continues to provide a great place to engage in the British car hobby! If you find BCF a beneficial community, please consider supporting our efforts with a subscription.
    There are some perks with a member upgrade!
    **Upgrade Now**
    (PS: Subscribers don't see this gawd-aweful banner
Tips
Tips

Insurance suggestions

Share this page

Hagerty for me. I had Allstate before, but it turns out they were much more expensive, and never really thought about the values Allstate applied to it until I noticed the comprehensive premium was only about $5 per year. Then a member here had a post about an unfortunate incident he had regarding insurance coverage. My ex-wife had me talk to her insurance agent, who has a '67 Jaguar E-type. I figured he would be able to help me out on the right coverage for a collector car, and it turns out he's a Hagerty rep. I thought there was a mistake when he quoted the premium, it was WAY less than Allstate. He didn't bat an eye when he worked up the declared value, and I've got all my receipts to back up what I've put into it.
 
JPSmit said:
FWIW I think driving a Midget is in the Public interest. :driving:
Click to expand...
Agreed. It's green enough (as good or better than 90% of new vehicles on mpg). Easy on roads (1400lbs cars don't wear on roads and infrastructure very much do they? and it brings a little joy to many who appreciate such things).
I usually end up "showing" my car to someone wherever I go therefore I'm always en rout to a show. Right?
 
sparkydave said:
He didn't bat an eye when he worked up the declared value, and I've got all my receipts to back up what I've put into it.
Click to expand...

What you have into it is irrelevant. They will let you insure for as much as you'd like up to reasonable market value (which, by the book is pretty generous for decent driver status I think). I insured my Opel for 5K, I only paid $3500 so that seemed reasonable, they would have let me insure it for far more and the difference in cost is silly, something like $30 to push it to 8K. I now think "replacement cost". I paid $4500 for my Midget but getting another as good in a timely manner would likely be closer to 6 or 7 so I'm maxing out at $8800 which is book for my level car. If it gets destroyed, I can get a REALLY nice Midget again, or possibly a decent BE. Of course, I have no desire to go through that again, I probably would not live through the crash that took my Opel if I had been in the Midget. I strongly suggest everyone max out the agreed value, as I recall the additional cost is next to nothing and will make all the difference if, God forbid, you get crunched. It doesn't take much to total something anymore. Someone tagged my rear end while I was parked, cost $2200 to fix a dented bumper on a Dodge.

BTW MK1 Midget in average condition, valued by NADA at $8800
A BE, '58 Average is $17,300, pretty generous, no?
 
Rik said:
Tony,
I always thought USAA was for active and retired military only. Am I wrong or have they opened up to everyone.
Rik
Click to expand...
hehehe...Rik, you know I'm retired...just wanted to point out that there's pretty good insurance companies out there that are not classic specific...if you noticed, mine is a bit higher than the quote in the post above me.

Oh, & there are alot of retired & active military on the BCF!
 
Anyone know of any agreed value coverage that doesn't require a garage? State Farm's "agreed value," apparently really isn't. I'd like to get agreed value for Nigel, but he lives outdoors, and all of the usual sources have that pesky garage clause.
 
I use Hagerty for all of my "Toys".

They even insure my race cars under a "trailer & paddock" policy (for everything but while racing on the race track).

They won't insure your daily driver, Cobra kit-cars, or vintage off-road vehicles that are used off-road (such as my M38-A1 well-equipped Jeep). They do insure my CJ-2A (but it never sees any serious off-road action...).
 
regularman said:
Well, I had allstate and was paying $128 every six months for just liability. I switched to Hagerty's for $88 a year plus 8k agreed value.
Click to expand...

At Hagerty, I'm now at $230 for 12 months and 7K. So, as long as you don't have a claim you're alright I guess. Bums me out. Wasn't my fault but I guess I'm high risk now. I'll call 'em but it's a free country I guess, they can charge me what they want.
 
Wow, that sure doesn't sound like Hagerty. Have you tried talking to an actual person there about it? So far, I have found them really eager to help with questions and problems by phone. Maybe it is just a mistake or something that can be worked out better. Fortunately, I have never had a claim yet either.
 
I can tell you one thing about Hagerty....if you drive your car to work & have an accident you're not covered! In addition to limiting your miles, if you delve closely into their coverage, they'll finally tell you the can can only be used for special activities! And driving to work once a month or once a week doesn't qualify. They want your car on the road when there's not early morning or afternoon traffic congestion.

& I got that face to face from a Hagerty agent...but, I had to ask the correct question to get the correct answer! That's why I don't use collector car insurance: I can't just hop in my car when the whim hits to go to the grocery store (a no-no), or, before I retired, drive to work on a Friday (a no-no).

But, it took pulling teeth & a friend who's claim was denied to pull the answers from the Hagerty agent.

USAA doesn't care - the car is kept in a garage & I put less than 1,000 miles a year on it...whenever, wherever I want to drive...actually, my '79 MGB has 3,000 miles per year on it.
 
Has anyone ever looked into rates/coverage w Grundy Worldwide insurance??
-they have automatic coverage on newly acquired cars.
-they also have unlimited mileage for "hobby use".
-& they appear to have a few other advantages over Hagerty...

AGAIN, I use Hagerty for all of my cars, & so far I have zero complaints.
BUT I'm always willing to consider the other options available...

-Bear- :cheers:
 
tony barnhill said:
I can tell you one thing about Hagerty....if you drive your car to work & have an accident you're not covered!
Click to expand...

Hmmmm, interesting. I remember flat out asking how much I could drive it and they said no limits. They were supposedly leading a fight to loosening up the Michigan historical vehicle restrictions. They have such a good reputation, I can't imagine them denying too many claims or we'd all know about it. As for Grundy, I filled out their on line form which included saying YES to driving to work. I haven't pursued it though either
 
Well, it's been 2 or 3 years now but when I researched collector insurance, Grundy and Hagerty were really close on basic premiums. The differences I found then were:
1) My '48 Prefect has hydraulic brakes and a '58 motor (still 36 hp)
2) my Beetle has disk brakes in front.
Grundy classified both as "Modified" and their rate automatically doubled.
3) Grundy imposed a strict mileage limit (3500 I recall) and Hagerty did not.
4) Unlike Tony's experience, they all told me right up front that the cars had to be garaged when not in use and could not be used for regular transportation, specifically not driven to work. Although I don't think it was stated as such, I interpret that to also mean not for regular erands like shopping trips.
5) I can't put specific words to it but I had the very strong impression that Hagerty is much more tolerant of what constitutes hobby use. I was told specifically that it could be used for things other than official club, show or parade outings. Essentially anything other than work or regular useage.

Hope this helps.
 
jvandyke said:
tony barnhill said:
I can tell you one thing about Hagerty....if you drive your car to work & have an accident you're not covered!
Click to expand...

Hmmmm, interesting. I remember flat out asking how much I could drive it and they said no limits. They were supposedly leading a fight to loosening up the Michigan historical vehicle restrictions. They have such a good reputation, I can't imagine them denying too many claims or we'd all know about it. As for Grundy, I filled out their on line form which included saying YES to driving to work. I haven't pursued it though either
Click to expand...
Ah, but you didn't ask the correct question...this is the one asked directly to the Hagerty agent, <span style="font-style: italic">"So, lets say one morning the weather is beautiful & I decide to drive my car to work. Have I violated any rules with Hagerty? If I'm in an accident on the way to work, will I be covered?"</span>

His answer if front of a whole bunch of club members was, <span style="font-style: italic">"NO!"</span>

The next question was <span style="font-style: italic">"How would you know it wasn't just a drive?"</span> He then explained that they would look at where the accident occurred, where the house was in relation to it & where the office was along the route & the time the accident occurred.

I'm not knocking Haggerty or any other classic car insurance company....I'm just saying you need to ask specific questions until you've pinned the agent down so tight he can't equivocate....then, get it in writing. 'Course it's the same with all insurance companies.
 
Mine is State Farm and is under a collector vehicle policy. The agreed on value is $11,000. They came up with that figure, I was thinking about $8800, which is in the middle of the value guides for a MK 1. After their agent examined the car and took photos, they said that their figure is what it would probably take to replace it with an equal condition vehicle.
Premiums are 67.00 every 6 months. Mileage limit is 7500 a year. If I drive more than that, it jumps by about $30. No limitations on when and where it can be driven. It is garaged at home too.
I have been with SF since 1975 and have never had a ticket or at fault accident. I also have multiple cars and the home with them. That all helps.

Plus, living in North Dakota (where a combine, a car and a moose all on the same 3 mile stretch of road constitutes a noteworthy traffic jam) probably helps too.
 
scoutll said:
...Plus, living in North Dakota (where a combine, a car and a moose all on the same 3 mile stretch of road constitutes a noteworthy traffic jam) probably helps too.
Click to expand...

<span style="font-size: 14pt"><span style="color: #FF0000"><span style="font-weight: bold">TOO FUNNY!!</span></span></span> :lol:

-Bear- :cheers:
 
I don't know what the difference is between going for a drive or driving to work. From their perspective, if they don't cover commutes then you won't drive it as much or during busy times of the day in high traffic. But if they hide that fact and wait until you make a claim just to deny it because it was a work route, they wouldn't be around long would they? I'm not interested in playing games, this is supposed to be the stress relief, enjoyable thing for me, I get to play BS in the "real world" would prefer to avoid it in this one.
I'll call and ask the "right questions" and if I have to, I'll get a regular policy or find another hobby.
 
tony barnhill said:
I can tell you one thing about Hagerty....if you drive your car to work & have an accident you're not covered! In addition to limiting your miles, if you delve closely into their coverage, they'll finally tell you the can can only be used for special activities! And driving to work once a month or once a week doesn't qualify. They want your car on the road when there's not early morning or afternoon traffic congestion.

& I got that face to face from a Hagerty agent...but, I had to ask the correct question to get the correct answer! That's why I don't use collector car insurance: I can't just hop in my car when the whim hits to go to the grocery store (a no-no), or, before I retired, drive to work on a Friday (a no-no).

But, it took pulling teeth & a friend who's claim was denied to pull the answers from the Hagerty agent.

USAA doesn't care - the car is kept in a garage & I put less than 1,000 miles a year on it...whenever, wherever I want to drive...actually, my '79 MGB has 3,000 miles per year on it.
Click to expand...

Tony, thanks for posting this. Most interesting, I'd better dig a little into my policy. What makes it interesting is that my agent said there were no restrictions on when and where I can drive it - and he drives his Hagerty covered XKE to work.
 
Well, so far, both Bayless & I know about the driving restrictions with Haggerty.....be curious to see what others of you are told when you ask specific enough questions and/or read the fine print.

Oh, I checked my USAA policy - keep MG's in garage when not in use, drive anywhere anytime but not over 3,000 miles per year......notify them if the car is going to be off the road for any length of time & they change the policy to a repair/restore policy which is lower than road policy....right now, I have some on "restore".
 
Back
Top