ronnie993tt

Just received my new premium notice with a 27.25% INCREASE. LANT said this is being applied to all special interest vehicles between 15 and 25 years old because of a large increase in claims. If you have a 15 to 25 year old special interest vehicle, has your recent premium increased this much? Just seems really excessive.

Pags993

That sucks Ronnie! I was fully expecting same when my policy came up for renewal in December with them but I was pleasantly surprised by a $48 decrease per year. Now that being said my '95 is worth significantly less than your TT.

I would reach out to the ins company Turbodan recommends as an alternative to Lant. I cant remember the name....

oups59

No increase this year ...

wc11

Wait...didn't the Liberals say insurance rates would actually drop?
Just saying....

Turbodan

call vintage insurance and speak to Jason 1-800-307-7066
he had told me that Silver Wheels rates would be increasing more than Vintage over the next few years.
feel free to contact me if anyone requires an appraisal for 19a coverage or just to have the value properly documented or updated due to the big increases in value for the air cooled and RS models.

jumper5836

Shouldn't you have to pay more if your car is more valuable? Seems like high risk to me thinking as a insurance company having to ensure a car that is so valuable for nearly nothing at all.

Turbodan

of course higher replacement value equals higher premium.

ronnie993tt

Thanks PAGS993. This 27% increase has the 19a value constant so it has nothing to do with the value. Any other 15 to 25 year collector cars suffer a similar fate??

Bahama

Mine is coming up shortly, and I will let you know then. I don't know from where I heard, but I think that Lant is charging more so that collectively they can make a more impactful/meaningful corporate contribution to the Hospital For Sick Children (a fine institution btw)

Dinicod

My rate increased dramatically on my old Camaro!! I was told it was primarily due to Hagerty coming in and buying them out. They apparently reviewed all the rates and jacked them up.

And I was claims free, with them forever and the value of the car had not really changed.

I'm told Vintage insurance has much better rates.

Turbodan

guys expect Haggerty (which now owns Lant) to raise rates for the next few years. Their system of not requiring appraisals appears to have attracted many more claims (perhaps fraudulent?). Also I have heard stories of some having a hard time getting paid for claims from Haggerty.

ronnie993tt

Thanks for intel. The quotes I've received from vintage in the past were considerably higher than Lant mainly because they couldn't offer as high a deductible as Lant but I'll try them again.

ronnie993tt

Thanks Glenn. They told me that the rates on over 25 year old cars did not go up as much but it will be interesting to see what % increase you get if any.

CATA19

I called Vintage in January and talked to Jason. He told me they no longer offer insurance on 15yr old cars. I have a '99 so I can't get insurance through them.

I have looked around a bit and have talked to a broker for Echelon and another broker for Hagerty.

The quote that I got from Echelon was less than half the quote from Hagerty for more coverage and lower deductibles. There are some restrictions for Echelon.

1) can't drive car to work or school (if you are a student)
2) no drivers under 23
3) can only drive it 5,000 km per year
4) need car appraisal

When I asked the broker for Hagety about restrictions, they said

1) "there isn't any restrictions on usage of the vehicle, however, they do ask that there is no routine transportation with a car, eg, driving to work, stores, or any other place on a regular basis."
2) they don't have any restrictions with the age of the driver, but do ask that any person driving the vehicle have a minimum of 10 years driving experience. They also said that if a driver with less than 10 years experience is in an accident, the claim would still be covered, but they may not offer a renewal for the policy.
3) I was also told that on the phone that there was a 6,000 km limit per year (but they did not confirm this in their e-mail).
4) an appraisal is not required.

ronnie993tt

I talked to Jason at Vintage this morning. They only do collector car insurance on cars over 25 years old. He also indicated that mid '70's and newer cars are experiencing large rate increases.

Echelon internet tool quote marginally higher than Lant's but will talk to agent re: deductible options and other possible discounts - old guy, etc.