What insurance do you carry for your collectibles and why?
#1
Racer
Thread Starter
What insurance do you carry for your collectibles and why?
I have a 1982 928s euro with low miles and a federal emissions exclusion for catalytic converters. I also have a 1990 944S2. Both cars are unique for different reasons, and both cars are in fantastic shape, but I’m worried my GEICO insurance won’t cover them at their market value in the event of accidents, vandalism, or theft.
So, I’m looking for advice. What insurance do you carry for your collectible cars and why? Any suggestions on validating their worth?
Thanks,
camelman
So, I’m looking for advice. What insurance do you carry for your collectible cars and why? Any suggestions on validating their worth?
Thanks,
camelman
#2
Rennlist Member
Have the 80 928 insured for $100k agreed value and it's $ 431.00 for the full year. All the other classic ins companies were much, much more, and required me to have the car appraised at my expense (approx $ 250-300) I checked back with a few...Hagerty, Grundy, and Classic Car Ins., and they told me they not to bother with the appraisal because they would not insure the 80 for anything close to the $100k value. Also have full glass and an additional driver. I asked this insurer how they defined "Occasional Pleasure Use" and they told me they don't check mileage and to use the car as much as we like. I recently sold a low mileage 79 928 that was insured for $50k agreed value and insurance on that was $ 250 for the full year. T
https://www.amig.com/insurance/colle...r-car-details/
https://www.amig.com/insurance/colle...r-car-details/
Last edited by 77tony; 06-09-2018 at 05:54 PM.
#3
Burning Brakes
I'm also using American Modern. I have the Weissach and two motorcycles insured with them and their rates are very reasonable...I'm paying $381 a year with $500K liability limits.
I had Hagerty for over 15 years and their rates got ridiculous.
I had Hagerty for over 15 years and their rates got ridiculous.
#5
Rennlist Member
Grundy on my collection
#6
Avoid Grundy like the plague. I had them for years and had to file a claim where I was rear ended and documented the other driver as at fault. I had to fight them tooth and nail. I ended up talking to mr grundy himself, and until you file a claim it is all lies and sunshine.
#7
Tony, how are they on modded cars? Above the 928 is listed as none/minimal ?
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#9
Rennlist Member
The 80 is heavily modded and made them aware of this. American Modern required no appraisal or reciepts of mods done and wrote the policy. Will say I was a bit surprised. The other Ins Co's were playing nice until I requested $100k replacement value. T
#10
Burning Brakes
Timely thread. Now that I am just finishing ploughing about USD 15K in parts into my 91 GT, I decided to add it to the AMIG policy covering my 90 GT.
About 4 years ago, AMIG seemed to be the only ones who would insure my 90 GT for an agreed value of USD 40K without big discussions.
So, I went with them and thus far they have been very easy to work with. My cars are not really modded.
BUT, the question will come, of course, when you have to file a claim. Would be interesting to here any claims stories about them.
About 4 years ago, AMIG seemed to be the only ones who would insure my 90 GT for an agreed value of USD 40K without big discussions.
So, I went with them and thus far they have been very easy to work with. My cars are not really modded.
BUT, the question will come, of course, when you have to file a claim. Would be interesting to here any claims stories about them.
#11
Three Wheelin'
I insure w/ American Modern, through my agent at www.ncminsurance.com
They provide amazing service when I call, know what I am talking about, and have even proactively SAVED me money through finding other discounts, calling me to let me know. I have been with them for many years now, and the agreed value rates are very good.
They provide amazing service when I call, know what I am talking about, and have even proactively SAVED me money through finding other discounts, calling me to let me know. I have been with them for many years now, and the agreed value rates are very good.
#12
RL Community Team
Rennlist Member
Rennlist Member
I used to have my RUF 997, 928, and 914 with Hagerty. The RUF was insured as an exotic and the other 2 as collectibles or classics. When I was nearing the end of my 18 month widebody cayenne project and needed insurance on it for 4-5 times blue book value, Hagerty wouldn't take it saying it was too new (2009) and that they also don't insure SUVs. They also wanted me to sign that it was a show car and its not, its our family trip car, so I wasn't willing to do that. Grundy was willing to write an Agreed Value policy on it for $120k if I moved all my cars over to them on one of their MVP policies, all with agreed value, which is what I did - it's underwritten by AIG Private Client Group.
My 2001 GMC c3 pickup is regular use at $20k, my wife's 05 997 c2s is regular use at $50k, the 09 Cayenne turbo S is regular use at $120k, the RUF 997 an exotic at $150k, the supercharged 928 convertible is classic at $120k, and the 914 is classic at $30k. The coverage limits are high enough where my Travelers Liability Umbrella still covers all of them. I'm paying the same per year I was with having the 3 regular use vehicles with Travelers (including the Cayenne, but before the upgrade project) and the other 3 with Hagerty. So, about $500k in agreed value on 6 vehicles for about $7,500/year.
My service from my Grundy rep has been excellent, but I've never filed a claim.
My 2001 GMC c3 pickup is regular use at $20k, my wife's 05 997 c2s is regular use at $50k, the 09 Cayenne turbo S is regular use at $120k, the RUF 997 an exotic at $150k, the supercharged 928 convertible is classic at $120k, and the 914 is classic at $30k. The coverage limits are high enough where my Travelers Liability Umbrella still covers all of them. I'm paying the same per year I was with having the 3 regular use vehicles with Travelers (including the Cayenne, but before the upgrade project) and the other 3 with Hagerty. So, about $500k in agreed value on 6 vehicles for about $7,500/year.
My service from my Grundy rep has been excellent, but I've never filed a claim.
Last edited by Petza914; 06-11-2018 at 01:19 PM.
#13
I used to have my RUF 997, 928, and 914 with Hagerty. The RUF was insured as an exotic and the other 2 as collectibles or classics. When I was nearing the end of my 18 month widebody cayenne project and needed insurance on it for 4-5 times blue book value, Hagerty wouldn't take it saying it was too new (2009)and that they also don't insure SUVs. They also wanted me to sign that it was a show car and its not, its our family trip car, so I wasn't willing to do that. Grundy was willing to write an Agreed Value policy on it for $120k if I moved all my cars over to them on one of their MVP policies, all with agreed value, which is what I did. My 2001 GMC c3 pickup is regular use at $20k, my wife's 05 997 c2s is regular use at $50k, the 09 Cayenne turbo S is regular use at $120k, the RUF 997 an exotic at $150k, the supercharged 928 convertible is classic at $120k, and the 914 is classic at $30k. The coverage limits are high enough where my Travelers Liability Umbrella still covers all of them. I'm paying the same per year I was with having the 3 regular use vehicles with Travelers (including the Cayenne, but before the upgrade project) and the other 3 with Hagerty. So, about $500k in agreed value on 6 vehicles for about $7,500/year.
My service from my Grundy rep has been excellent, but I've never filed a claim.
My service from my Grundy rep has been excellent, but I've never filed a claim.
They took my money for almost 10 years and on my one and only claim (not at fault) they gave me the finger. I contacted them because the at fault driver's insurance didn't cover specialty cars and wanted to total. Grundy only paid part of the claim and then balked at paying the rest of the claim. The issue was paint. The paint could not be matched and Grundy want the car half painted and blended over the hood and fenders instead of covering the rest of the car. (car was rear ended) They admitted that they had never covered a claim on this color, and that the body shop provided them with the difference in paint codes and that it essentially was trying to match a custom color.
Ultimately the only way to really know how an insurance company will treat you is by filing a claim. I just make sure that people know how Grundy will respond to claims.
#14
Rennlist Member
I insure w/ American Modern, through my agent at www.ncminsurance.com
They provide amazing service when I call, know what I am talking about, and have even proactively SAVED me money through finding other discounts, calling me to let me know. I have been with them for many years now, and the agreed value rates are very good.
They provide amazing service when I call, know what I am talking about, and have even proactively SAVED me money through finding other discounts, calling me to let me know. I have been with them for many years now, and the agreed value rates are very good.