Which Classic Auto Insurance Co are you insured through, and why?

sparky66 · 05-05-2009

We have Hagerty on our 66, and Geico for the 71, 07 and our F250. I would switch the '71 over to Hagerty as well - their customer service is outstanding - but it's not garaged (one of their requirements). I initially went through an insurance broker who's a member of our club, and he recommended Hagerty as the best fit for our car (cruises/shows, under 5k a year, garaged, etc).

I pay $120/yr for the '66 for waaaaaaay more coverage than I got from Geico at over $700/yr

. The agreed value is $12K, but I've been thinking of upping that a bit since we've really worked hard on restoring it.

I'm thinking of comparing rates w/ Geico if anyone has any recommendations.

Player · 05-05-2009

Sparky66, as we were discussing earlier in the thread, how do you know that you'll actually receive the "agreed value" if the vehicle is totalled?

danielf · 05-05-2009

I use my regular State Farm but thier "classic car" coverage. I get the same full coverage as i do on my Hummer and wifes Nissan and a car value of $25k for $110 a year.

sparky66 · 05-05-2009

I know it's agreed from my contract: "We will pay the limit shown under Coverage D in the Declarations for each scheduled vehicle, which is agreed to be the value of your covered auto, in case of a total loss or constructive total loss." The agreed value on my coupe is $12K, as stated on the Declarations page.

And although it's a bit more limited than my general Geico policy, it's very clear what they will or will not cover. Considering the price difference, it's money well-spent. And like I said, I LOVE their service.

drop top · 05-06-2009

I have my 65 Insured under Hagerty, and thus far it has been a harmonious relationship. I started out with 21k value covered, and what I like about Hagerty is that each year they increase (automatically) the value of my machine without raising my premium, just as the value of your machine would increase in the "real world". This probably sounds a bit innane, but I am wondering how Jay Lenno would answer this question? He drives a different machine to work evey day, and they are the operative words "to work every day", at times they show one of the machines during the show and they are kept in the parking lot, completely exposed, and I am quite sure that some of those machines are one of a kind left of a specific vintage, I'm sure you know what I'm driving at. What kind of arrangements he has with his insurer and who, precisely is his insurer?

Player · 05-06-2009

Interesting though, Drop Top!

Did you guys have to have your vehicles appraised? And if so, did the company take care of that, or did you have to pay for it (or were otherwise charged for it)?

drop top · 05-06-2009

No PLAYER, no appraisal, all I had to do was send them a few pics at various angles and that was it!

sparky66 · 05-07-2009

Ditto - just pix from all angles, and a list of any upgrades (not many at the time). Very easy & quick.

jcp123 · 07-19-2009

Had JC Whitney classic insurance when mine was a show car. It's now just a peon with GEICO since it's a DD. Someday that might change.

jcp123 · 07-19-2009

Wont let me edit ^^

I really want a stated value policy for my car. A couple years ago it would have fetched upwards of $30.000, though now it's probably around $20.000, yet it's insured for under $3.000.

Player · 07-21-2009

Wow! I think I'd find another company. That would be an incredible loss if something were to happen.

sav_syn_sptz · 07-22-2009

im with state farm $44 amonth full covage D/D, agreed value is set at $12,000 and can raise it any time but have to bring it in for pics and new specs ie paint/body or upgrades

as far as claims i had one with my modded v6 f150 they took 2 weeks but they did a good job on their research and didnt hassel me for reciepts they paid for my airbags, rims, bed cover/rollpan, exhaust, cai, even my pullies. and was amazed on what they actually paid me

1965mustang · 09-05-2009

I have five cars insured with Heacock Inurance Agency (they are a broker) which now uses American Modern Insurance Company to underwrite the coverages.

I have $500,000 in liability, UM, and no-deductible "agreed value" comp and collision. It also has coverage for towing which may come in handy one day since three of my cars do not have a spare tire. The annual premium is $625.

I doubt there is much difference in coverage with any of the different brokers and underwriters as they all use standard ISO forms.

I am with Heacock because one of the guys that works for them is in my car club, and I've known the owner (Heacock) for several years.

Beware:

You can not drive the car to work. I know all about the "drive your classic car to work on Friday thing". But if you have a claim, it will probably not be covered.
You can not leave the car unattended. This doesn't mean that you can't go use the restroom. It means that you can't park it at the mall and go shopping for 4 hours.
The car must be stored in a secure location. That can be in your garage, in a locked warehouse, and behind the fence it a secure area. Do not park it in your driveway and go to bed.

drifter28 · 09-26-2009

My best bet is to go through hagerty world wide auto insurance for it but it'll depend on our level of restoration as we stated its going to be a show car so I think going on a full coverage insurance is the best.