Hagerty Insurance

[itdnwiwbp]

So, after reading of fercho's insurance woes after his accident I remembered that I'd been meaning to get a quote for an agreed upon value insurance policy for my car since I have a significant amount of money "invested" in mods. My car is garaged at my "vacation rental" in California (where my wife prefers to live - no surprise) and I spend well over half of my time in Alaska for work. The car is driven 3-5000 miles a year.

I got a great quote that was slightly more than my current coverage for the value of my car plus mods and was also zero deductible. I was pretty stoked to have my car fully covered in the even that anything should happen to it. Then I called Hagerty to discuss specifics. I'm an honest guy and am always up front about my abnormal living situation. Hagerty said that I would be rejected because I don't have a second car just for my personal use in case I have to "run an errand" while my wife is using our other car. Every time I choose to drive my car it is for pleasure and I often ride my bike or walk for short trips instead of driving. I rarely NEED to go anywhere when I'm in CA.

This is as much a vent/rant as it is a warning for anyone considering going the same route. I'm happy I was honest but I'm disappointed that Hagerty declined to cover my car because I don't have a third vehicle where my car is kept. So, if you're going to try Hagerty be aware of this stipulation. I'm not saying to lie about your vehicle situation but be aware.

[silverfishZ4M]

I called Hagerty awhile back. They told me I needed to have a 10 yr old or NEWER car for every driver in the household in order to insure the M coupe. Also could only do 3500 miles per yr on the M.
I do have hagerty on my vespa, because i have another motorcycle. for some reason I don't need 2 motorcycles.
It almost makes sense to pick up a 10 yr old beater to get the hagerty. I just got a 2001 VW for $900, but I missed the mark by 2 yrs.
edit- actually, the daily driver must be 5 yrs old or newer.
•Your regular-use vehicle must be
■No more than ten years old when insuring a 1990’s vehicle
■No more than five years old when insuring a 2000 and newer vehicle

[ZStig]

I also tried to get Hagerty and got denied, even though there is a second car in the household, it is not registered to me

[itdnwiwbp]

I talked to Grundy today and they said they could cover me for agreed upon value but had the same stipulations as all other classic/collectible insurers that I've found so far. So, no "errands" which of course means a "pleasure drive" can't include a quick stop at the grocery store on the way home etc. They do allow overnight trips but I'm pretty sure they meant only if there's a car gathering at the end of it. Despite them agreeing to cover me I'm going to keep shopping for someone a little more lenient just to ensure my car is ACTUALLY covered since that's the entire goal. Tomorrow I'll be contacting J.C. Taylor, NCM and American Modern.

[Vanne]

Sounds like they want to cover your car, as long as you don't drive it. Lol

[itdnwiwbp]

Originally Posted by Vanne

Sounds like they want to cover your car, as long as you don't drive it. Lol

Basically. I'm not sure why it's so hard to get the car covered for agreed value and still be able to drive it as I wish. My major sticking point is the "errands" label. I don't understand why a "pleasure drive" has to be without purpose - I enjoy driving my car to run simple errands and that's about all I "use" it for. I also don't like not being able to take the car on an overnight trip. When I go somewhere I ALWAY call the hotel ahead of time to confirm that there's covered , secure parking. Though, from Top Gear Series 10, Episode 1 I guess we know that isn't always 100% reliable. :-)

[Vanne]

Yeah I find it difficult to understand why you can't go for an errand, but u can go for a full on drive? What if you went for a 'drive' and just happen to stop co-incidentally at the place where you needed something from? Then decided to cancel your drive and go back home?

[itdnwiwbp]

Originally Posted by Vanne

Yeah I find it difficult to understand why you can't go for an errand, but u can go for a full on drive? What if you went for a 'drive' and just happen to stop co-incidentally at the place where you needed something from? Then decided to cancel your drive and go back home?

Then it's no longer a pleasure drive and the car isn't covered. I know it would be fairly easy to tell as story to the underwriter that maintains the coverage in the event of a claim but I don't want to have to tiptoe around that. I'm not interested in the collector insurance to save money on my premium. I want it to have my car covered and not have to risk claims denial or being dropped after a claim for an arbitrary reason.

[intoflatlines]

We have a very low mileage E30 that has agreed value/collector's car insurance and it allows for errands, trips, whatever, except you are not allowed to drive it to work.

[Vanne]

Originally Posted by itdnwiwbp

Then it's no longer a pleasure drive and the car isn't covered. I know it would be fairly easy to tell as story to the underwriter that maintains the coverage in the event of a claim but I don't want to have to tiptoe around that. I'm not interested in the collector insurance to save money on my premium. I want it to have my car covered and not have to risk claims denial or being dropped after a claim for an arbitrary reason.

I hear ya man... Nothing worse than insurance companies trying to squirm Their way out of having to pay a claim. They always try. That's why I've just bitten the bullet and got fully comprehensive insurance for my coupe, it was much cheaper as it's our second car, not sure why I bother though, only get to drive it about once every two weeks...

[itdnwiwbp]

Originally Posted by intoflatlines

We have a very low mileage E30 that has agreed value/collector's car insurance and it allows for errands, trips, whatever, except you are not allowed to drive it to work.

What agent and underwriter is the policy through? Sounds like exactly what I'm looking for since I work thousands of miles from the car.

[intoflatlines]

Originally Posted by itdnwiwbp

What agent and underwriter is the policy through? Sounds like exactly what I'm looking for since I work thousands of miles from the car.

The bosslady takes care of that since it's her car. I'll see if she can forward me the legalese and all that info and I'll let you know the details.

[StickMon]

The policy sounds stupid, but they have to be careful.

It would be too easy for somebody to insure their 1984 Dodge for $150,000 and then ...
Whoops, it burned to the ground. How could that have happened.

[intoflatlines]

Originally Posted by StickMon

The policy sounds stupid, but they have to be careful.

It would be too easy for somebody to insure their 1984 Dodge for $150,000 and then ...
Whoops, it burned to the ground. How could that have happened.

It wouldn't be possible. If someone tries to insure their car for an unexpected amount, they require a professional appraisal.

[itdnwiwbp]

Yeah, I'm a unique situation with my work and I really don't use the car very much but I want to be able to take it to the grocery store if need/want be with the peace of mind of knowing it's covered for the reasonable amount I have invested which I can back up with receipts.

[David70]

This relevant for the modifications?

http://www.esurance.com/insurance-re...insurance-myth

[StickMon]

Originally Posted by David70

This relevant for the modifications?

It reads great until you get to the "up to $4,000" part.
Not quite 1/2 a supercharger's worth of coverage.

[David70]

Originally Posted by StickMon

It reads great until you get to the "up to $4,000" part.
Not quite 1/2 a supercharger's worth of coverage.

Agree, but $4k more insurance than he has now.

Lots of information if you search "Modified Car Insurance"

http://www.insure.com/car-insurance/upgrades.html

When it comes to more traditional modifications, Diggs says State Farm looks at them on a case-by-case basis. It does not charge a higher premium for modified vehicles but it’s highly unlikely that you would be covered for high-powered engine modifications or very expensive upgrades under a standard cash value policy.
In this case, you may want to consider "stated cash value" or an "agreed value policy." Agreed-upon value policies are just as they sound: You and your insurance company both agree on the value of your vehicle and it does not depreciate. Stated cash value policies take into consideration the modifications you’ve made, but depreciate in value each year the policy is in effect.

[itdnwiwbp]

Originally Posted by David70

This relevant for the modifications?

http://www.esurance.com/insurance-re...insurance-myth

Thanks for the tip but USAA, my current insurer, covers up to $5,000 in mods. Still quite a bit short.

[itdnwiwbp]

Originally Posted by intoflatlines

We have a very low mileage E30 that has agreed value/collector's car insurance and it allows for errands, trips, whatever, except you are not allowed to drive it to work.

Where you able to get the info from the boss? :-D