What clasic car insurance company do you use?
03-25-2008 | 01:39 AM
#17
Burning Brakes
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From: NorthEast, USA
Interesting. Hagerty's website will not give me a quote for my GTS. It isn't 20 years old. I guess I'll need to call them and see if it qualifies as a limited production exotic or special interest; website doesn't have a selection for that.
Whoa. Replacement value policies must be relatively recent in MA then. I spoke with my agent a few years ago and was told that replacement value policies weren't available in MA.
Whoa. Replacement value policies must be relatively recent in MA then. I spoke with my agent a few years ago and was told that replacement value policies weren't available in MA.
03-25-2008 | 02:53 PM
#18
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I just spoke with our agent and she mentioned that Hagerty and Grundy may offer something for "classic" or "exotic" type cars.
She also said in MA there are two schools of thought for covering the car to the value you believe the car has. First is to have an appraisal done and determine true value of the car and then have this at hand should something happen. She said that the insurance companies will honor the appraised value. I told her I didn't believe it and my overall gut feeling on most insurance companies is that they're only after one thing and that is their bottom line.
The other method is agreed value which again is also based upon an appraisal and negotiations. A premium is charged for this which can be partially offset with a lower mileage coverage and higher deductable.
She also said in MA there are two schools of thought for covering the car to the value you believe the car has. First is to have an appraisal done and determine true value of the car and then have this at hand should something happen. She said that the insurance companies will honor the appraised value. I told her I didn't believe it and my overall gut feeling on most insurance companies is that they're only after one thing and that is their bottom line.
The other method is agreed value which again is also based upon an appraisal and negotiations. A premium is charged for this which can be partially offset with a lower mileage coverage and higher deductable.
04-07-2008 | 12:13 PM
#20
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From: Up Nort
I've been following this story for a while since I have the same type of replica and State Farm:
http://www.ffcobra.com/forums/showthread.php?t=180976
http://www.ffcobra.com/forums/showthread.php?t=180976
04-09-2008 | 03:26 AM
#21
Thinking outside da' bun...
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I read the Grundy 928 thread. If you didnt read it, it was about special paint color no longer offered and flaked properly for a match. The dude specified he wanted a policy to cover a total matching repaint (entire car if necessary) because of the special rare color of the car. Grundy gave them hell after an accident about repainting the entire car despite prior conversations when buying the policy.
My question is, what in the hell do rat rodders and custom car owners do? These guys are riding around with $30,000 custom one-off paint jobs with fades and flames, and $2500 a pint Dupont colors. These vehicles have to be insured under the same pretenses, so what do THEY do?
My question is, what in the hell do rat rodders and custom car owners do? These guys are riding around with $30,000 custom one-off paint jobs with fades and flames, and $2500 a pint Dupont colors. These vehicles have to be insured under the same pretenses, so what do THEY do?
04-09-2008 | 01:01 PM
#22
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When anyone tells you that they've "been with "X" insurance company for "Y" years and had no problems....you need to inquire further.
As long as you pay your premiums on time and never have a substantial claim to make, there won't be problems with any company. They'll take your money with a smile.
On the other hand, you find out what they're really like when you have a substantial claim (windshields and small stuff don't count). Total your car and then report how many problems you have with the company.
A few years ago, I spent about 6 months meticulously researching which ins company to go with for best coverage, prices, agreed-to values, etc. and didn't come away with any that seemed to be heads-above the others. Reading the battle-stories here and other places didn't help either.
If your car sustains substantial damage or is totalled, chances are you will be far from satistifed with the settlement...and that probably will happen only after a long, drawn out, and bitter battle with the ins company.
Do I sound bitter? Yes...I won't go into details but a guy ran a redlight and T-boned my custom pickup truck (He got a ticket)...They offered me 1/10 the value at first...and 8 months and many clashes later, I settled for 1/2. My lawyer was no help. He doesn't make much $$ on these claims and just wrote a form letter or two. And two of my daughters cars were totalled by guilty other parties, and I helped fight those losing battles. One of the other drivers was yakking on a cell phone and rear-ended my daughter's car at a stop light (yakker cited), the other was a 90-year old woman without a driver's licence (cited). Both settlements were thousands shy of replacing said cars with a like car.
Google Grundy (especially) and other classic car policies and you'll read enough to almost want to give up. Also, if you have a lawyer friend (honest friend), read very,very carefully the policy fine print for "gotcha" clauses. They are written by expert lawyers to cover more stuff than the policy seller will want to tell you.
I had an agreed-to value policy for a couple of years with a classic car company affiliated with (don't laugh) GEICO (it was a separate company, similar to Hagarty). It was a "great" company...BUT I never had to file a claim. Had I filed, I suspect I'd have a very different take on "great."
What makes it tough is that, with any company, there are always a very few Rennlisters who apparently really did have a good experience....at least, that's what they report.
I have a son-in-law who tried selling ins for a while, but his hands were tied by corporate policy. To keep peace, I never listed with him.
Insurance companies? I dislike them all the same. Yeh, some would call me cynical.
Good luck. And if you find a really good company (AFTERr your really nice Pcar was totalled and you settled), let me know. I keep looking.
H2
As long as you pay your premiums on time and never have a substantial claim to make, there won't be problems with any company. They'll take your money with a smile.
On the other hand, you find out what they're really like when you have a substantial claim (windshields and small stuff don't count). Total your car and then report how many problems you have with the company.
A few years ago, I spent about 6 months meticulously researching which ins company to go with for best coverage, prices, agreed-to values, etc. and didn't come away with any that seemed to be heads-above the others. Reading the battle-stories here and other places didn't help either.
If your car sustains substantial damage or is totalled, chances are you will be far from satistifed with the settlement...and that probably will happen only after a long, drawn out, and bitter battle with the ins company.
Do I sound bitter? Yes...I won't go into details but a guy ran a redlight and T-boned my custom pickup truck (He got a ticket)...They offered me 1/10 the value at first...and 8 months and many clashes later, I settled for 1/2. My lawyer was no help. He doesn't make much $$ on these claims and just wrote a form letter or two. And two of my daughters cars were totalled by guilty other parties, and I helped fight those losing battles. One of the other drivers was yakking on a cell phone and rear-ended my daughter's car at a stop light (yakker cited), the other was a 90-year old woman without a driver's licence (cited). Both settlements were thousands shy of replacing said cars with a like car.
Google Grundy (especially) and other classic car policies and you'll read enough to almost want to give up. Also, if you have a lawyer friend (honest friend), read very,very carefully the policy fine print for "gotcha" clauses. They are written by expert lawyers to cover more stuff than the policy seller will want to tell you.
I had an agreed-to value policy for a couple of years with a classic car company affiliated with (don't laugh) GEICO (it was a separate company, similar to Hagarty). It was a "great" company...BUT I never had to file a claim. Had I filed, I suspect I'd have a very different take on "great."
What makes it tough is that, with any company, there are always a very few Rennlisters who apparently really did have a good experience....at least, that's what they report.
I have a son-in-law who tried selling ins for a while, but his hands were tied by corporate policy. To keep peace, I never listed with him.
Insurance companies? I dislike them all the same. Yeh, some would call me cynical.
Good luck. And if you find a really good company (AFTERr your really nice Pcar was totalled and you settled), let me know. I keep looking.
H2
