Classic car insurance, who do you use?
 

I have always been told that Hagerty is the cream of crop for classic car insurance. I have recently started looking into classic car insurance and while talking with the rep the other day from hagerty he said that at best my car could only be insured for up to $25k as this is what the top of the market value is for a 67 mercury cougar XR7.

I got to thinking and by the time I have The full Dse setup on my car plus brakes and wheels and tires i'm well over that $25k mark.

So I am curious as to what everyone else is using?

I see $50-$100k builds all over the internet and think to my self is that fully insured?

The rep compared my car to a chevette, yes............ the other "vette" and he stated " well if someone wants to spend $100k on a chevette we cant simply insure it for that much cause they wanted to spend that on that car"

I did ask about appraisal and he seemed to think it might hold very little clout and I still wouldn't be able to fully cover my car, and he said I would be hard pressed to find someone who would cover the amounts I was throwing at him (which were in the $40k-$60k range)

I need to do some more calling around maybe try Grundy and Heacock, cause If I cant protect my investment then maybe I need to look at a different build?

Thanks in advance for any insight everyone may have.

Larue Classics Insurance

They are in the list of sponsors on the left. I have a agreed value insurance policy, and yes, I'm fully insured. You can specify various levels of coverage based on the number of miles you drive each year and the value of the car.

I didn't like the options with Hagerty when I talked to them, they were way more restrictive. Similar with Grundy. I really liked speaking with the Larues when I called them... Definitely worth a phone call.

Good luck.

Are you sure it isn't an agreed value policy?

No matter who you use, go agreed value all the way.

I am guessing Bryan just made a typo there. Hopefully.

Grundy made it easy for me,agreed value policy and half the price of Hagerty.

I'm looking into grundy now.seems to be driver friendly for guys who like to use their cars more than show them

You guys are correct, I updated my post. I have an 'agreed value' policy, not stated value... I can't ever keep those straight, so I pulled out the policy to confirm. :)

We got American National (ANPAC) CHROME policy. It looks to have more freedoms than the other ones we checked out. Then when you add your other drivers, it gives you more discounts.

We have an agreed upon value policy with Hagerty. It is a "modified" policy and required additional documentation and pics to qualify for the policy.

I went through Farmers Insurance and have an agreed value policy . Whenever I ad anything to the El Camino I just turn the receipts in to my insurance agent and he ads it on . It is considered a "Hobby Car" and as such is not supposed to be used as a daily driver .

I've never heard of an agreed value policy from Farmers. You may "agree" on a value, but all of them that I've seen are stated value, and there's definitely a difference between the two.

I have Hagerty for the Maverick at 35k. Thats doesnt fully cover what I have in the car but is what I could justify in my budget. They start you off with a cvg amnt and its up to you to justify the additional cvg. This includes a details form and photos to be submitted.

+1

I went with Grundy as well. Good price AND they don't have the "Primary Vehicle must be less than ____ years old" restriction. This was great when I was driving an old vehicle as my primary. Even now, my primary is old enough not to qualify for Hagerty.

I use Heacock Classic Insurance

I'm insured with LaRue as well. Alex is a class act guy! Very straight forward and nice, and really does love our hobby. He always remembers to ask about my little ones too.

I have my Chevelle insured with him at an agreed upon value of $40K. I really need to up that a bit more though.

Once my Caddy gets going again, I'll be switching it over to him as well. Just a few weeks ago I asked him about insuring my motorhome through him...he didn't even give me a quote, he was 100% honest and said go to Progressive, they will have much cheaper rates. That's the kind of honesty that keeps me coming back to him.

Heacock for me. Car is insured for $50,000 with free towing within 200 miles. $650 a year and keep it under 5000 miles. I tried Hagerty but anything over 30k has to be appraised. Oh and if you have a roll cage you are a "no go". They will not insure you.

i have a 100k policy with hagerty and didn't need an appraisal

Is that $100k premium include full coverage? What limits?

How much is that per year?

around 1200$ Is is an agreed value policy. if stolen or totaled they write me a check for that amount. They just required a lot of pictures of the car.

Time for me to look for some insurance. Car is now drivable. I would like a 85k agreed value policy. 33 years old in allen, tx

Larue for me as well. Agreed value policy for $60k. Great people to deal with, along with a super low rate. Instead of pictures, I sent them a link to my build thread. Done!

.

My 2 cents: I Have Hagarty ins. And unfortunately had to file a claim. They were great to work with, paid out almost 7k for repairs, then had no problem revising claim amount when additional items were needed.




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Switched to Larue after my previous agent (representing an Infinity policy) started dropping the ball.

Same here as well. Had Hagerty for 4 years, and switched to Grundy last year. The only difference between the 2 policies is that Grundy requires you to pay up front for any covered claims (towing/repair, etc) and file a claim later. Hagerty does not. Had to use towing coverage with Hagerty twice, and nothing out of pocket.

I use Hagerty because I needed the agreed upon / guaranteed value.

I use AAA for the towing. It is agreed value but I need an appraisal to raise my amount from the current $25k to the $50k I want to cover the mods.
1969 Camaro $275 a year unlimited mileage

I would love to do my business with Hagerity but they ask more questions than a jealous ex :smiley_smack:
(i'm waiting for the moment when they adjust insurance monthly fees based on what color you like, that will be the day_

Oh yeah, back to topic, I got denied because of my sisters speeding ticket. Who cares? she can't drive a stick, not does she have interests in driving stick. Not to mention she has no interests in old cars - she's a lexus benz type of lady

so now, I'm with NewYork Classic Antique auto insurance

Agreed value policy with Larue as well. Never had to file a claim but did research before I started and they have always had a great reputation.

That 100% makes no sense, and if that is actually the case, I made the right decision to go with Hagerty.

This is coming from 12 years experience in the insurance industry, and I have never heard of such nonsense.

Wrong. Depending on circumstance you may pay for the towing and get reimbursed but you don't pay for any repairs up front.

NCM Insurance (National Corvette Museum)

Adam and Bobbie are great to deal with. I chose NCM based off a recommendation from a friend, that has numerous classic cars insured with them.

I have an agreed value policy, and the rate is very competitive. They can structure your policy however you want.