Jeremy Himsel

Who here has collector car insurance and has (or know someone) who's had to make a claim? I'm interesting in going with someone like Leland west, hagerty, etc.. and while the touted "agreed upon value" pitch is great, has anyone actually submitted a claim and received money? Had a car stolen or wrecked? I'd hate to switch over to save some money and have my car stolen or damaged and have to fight with a specialty insurer. If the big companies fight for every nickel I'd have to assume that the smaller companies are even tighter. With my current insurer I'm pretty confident if I had to make a claim (even thought I never had to) but the book value is far lower then what I have into the car (hell, it's less then what I have into the suspension). Any thoughts?

M758

I looked into something like that a few years ago. I was turned off by the restrictions. Mileage was not the issue since I don't drive it that much, but I would get no coverage in parking lot. For example you take the car on pleasure drive with the PCA and everyone stops a parking lot to allow the wives to do some shoping. We the car would not be covered while on the lot. Crazy stuff as if you think about it is a very realistic use of a "classic car". I gave up at that point.

2bridges

Reading my mind...... pay full coverage for book value coverage, or less for specialty with unknown payout

tone3721

I too will be making this decision soon. My new 951 gets here next week, and not sure what to do exactly about insurance. I guess who ever will give me what my car is actually worth, if something happens. I guess get appraised, then start shopping for who will give me a proper agreed value, and actually cover me when I need it. God I hate dealing with insurance companies.

reno808

I have hagerty. But have not made a claim

Epic2112

When I was looking around I also ran into restrictions that I didn't want to deal with. A few places limited you to driving to/from car shows, parades, etc. Anything other than that and the car wasn't covered. Some of the other ones had no mileage restrictions, but the car had to be parked in the garage every night, which ruled out going on a weekend trip and parking in a hotel lot for one weekend a year. When I was looking around I called maybe seven providers, and couldn't find one that was even close to what I want.

2bridges

I am told many of the specialty insurance will not even consider if you have a roll-bar in the car.....

cb951

I have Hagerty for my TR7, which is garaged and rarely driven. Haven't ever made a claim, though.

I've looked into collector insurance for my 951 (daily driver, but only about 1k miles/year...I work from home). My problems are that:

1) I only have a one car garage, which is occupied by my TR7 (since I did a cosmetic restoration on it myself), and every collector insurance policy I've found requires the car to be garaged.

2) Under every collector car policy I've found, I'd need a dedicated daily driver with regular insurance. While I could buy a POS for a few hundred bucks and just let it rot, I'd have to insure it, which in NJ would cost about $1k/year for mediocre coverage. And I'd have to have it inspected every two years, so it would have to pass emissions testing.

RolexNJ

As you know, I've been down this road. I made the claim, and got paid in a very prompt fashion too. Anyway whatever you do, or what company you go with, you need to get the 'agreed value' done as part of the contract, period. I would ask all the companies you are interested in getting quotes from if they engage in this type of policy, don't assume. Then, get all of your receipts to total up what you think the car is worth, forget about booke value!! Once you have a total, present a copy of 'all' those documents to the prospective companies, and then let the games begin. You need to stand your ground and see who will honor this amount and that both you and them 'agree' in writing that it is the same. Once this dollar amount is in the contract, they MUST honor this price (less deductible) if in the event the car is stolen. Of course, look at all the stipulations of the contract, like miles, usage, etc. With this approach I am suggesting, you will have an iron-clad contract that will protect your invest (money pit!) should it be stolen. I hope this helps. PM me if you need more info.

Judson951

I have Hagerty and I love them... They have been the best company I have ever dealt with. I pay $310 a year and the car is covered for $20 grand. I didn’t have to show any receipts or anything. You can only drive the car 2500 miles per year and it has to be garaged.

When I bought the car I had it shipped from California. The shipping company ****ed up the car. I got luck that I had insurance on it before it was shipped to me or I would have been screwed. I had a $3000 claim and $0 deductible. I repeat I have a $0 deductible.

I will only go with Hagerty. They are the best hands down.

2bridges

I think i will be making some calls. Theft and uninsured damage is my biggest fear. You had this experience with Hagerty?

Thanks for input fellas - now if they will just overlook the rollbar and race safety stuff

azmi951

Jeremy, I have hagerty on the chevelle and had to make a major claim when I was hit by a red light runner. In all, great company to deal with. I just tried to get the 944 on a policy but due to DE events they will not cover it.

Give me a call and I will explain some points I have learned about them. I also need the number so I can get my head work done.

ehall

no time to read all the posts, but good info folks. Thanks. I had the same questions as Jeremy