Classic car insurance, who do you use?

[67XR7]

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.

[carbuff]

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.

[camcojb]

Originally Posted by carbuff

Larue Classics Insurance

I have a stated 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.

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

[Flash68]

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

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

[tubbed69]

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

[66fury]

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

[carbuff]

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.

[OBeer-WAN-Kenobi]

Originally Posted by tubbed69

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

+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.

[rickpaw]

Originally Posted by tubbed69

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

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.