Agreed Value Insurance

[GregWeld]

Originally Posted by CamaroMike

Hagerty denied me because I daily drive one of the cars.

I dont have enough "driving experience" for Classic Collectors.

I have a clean record yet cant get car insurance

Any other companies out there?

The classic guys all have milage limitations -- that's how they do "agreed value" and get a low cost per year.


If you DD you'll probably have to go with "normal" insurance -- which then won't give you an agreed value policy. But who knows.... maybe you can work something out with the carrier about the value.

I think you're issue is with having a good agent -- that's their job to figure it all out. Mine does for me. But then again -- I also have LOTS of insurance on many different things -- all with the same agent - and they know where their bread is buttered so to speak.

[Sparks67]

Originally Posted by CamaroMike

Hagerty denied me because I daily drive one of the cars.

I dont have enough "driving experience" for Classic Collectors.

Any other companies out there?

Try Heacock Classic, http://www.heacockclassic.com/. You can change the mileage per year. Although, you might get denied because you are stating that it is your daily driver. I just estimated the number of miles per year. I can increase the mileage. Anyway, I drove my car for several years (1983 to 1999) on regular car insurance with no mileage. One of the national insurance companies allowed me to state the value of the car.

Jeff

[CamaroMike]

Thanks guys, I will see if I can get a hold of a good agent. I got fed up with Liberty Mutual and looking to change companies, I would also like for my cars to be insured for more than $2k or whatever kbb says they are worth

[Drew-Z]

I used to have my Camaro insured with Hagerty, but I recently switched over to American Modern Home. I work insurance, and American Modern is a well known specialty carrier.

I'm insured with an agreed value policy with unlimited mileage. The policy language is similar to Hagerty and also has similar features such as the guaranteed flatbed towing.

Couple of requirements:
-Licensed drivers in household must have a daily driver (I believe within 10 years of age)
-Owner must be at least 25 years old
-Vehicle must be stored in some type of enclosed space (garage, barn, etc)

Give them a shot.

[Mkelcy]

Originally Posted by Drew-Z

I used to have my Camaro insured with Hagerty, but I recently switched over to American Modern Home. I work insurance, and American Modern is a well known specialty carrier.

I'm insured with an agreed value policy with unlimited mileage. The policy language is similar to Hagerty and also has similar features such as the guaranteed flatbed towing.

Couple of requirements:
-Licensed drivers in household must have a daily driver (I believe within 10 years of age)
-Owner must be at least 25 years old
-Vehicle must be stored in some type of enclosed space (garage, barn, etc)

Give them a shot.

I've gotten a quote from another company, that has a requirement that "Vehicle(s) must be stored in a locked garage when not being driven." Obviously, if you're on a multi-state trip, it's unlikely you'll find a locked garage at your local Hampton Inn. I've asked if the vehicle is considered to be "driven" for the entire duration of the trip, or if it's not insured when parked. I'll post up what I hear back.

[CamaroMike]

Originally Posted by Drew-Z

I used to have my Camaro insured with Hagerty, but I recently switched over to American Modern Home. I work insurance, and American Modern is a well known specialty carrier.

I'm insured with an agreed value policy with unlimited mileage. The policy language is similar to Hagerty and also has similar features such as the guaranteed flatbed towing.

Couple of requirements:
-Licensed drivers in household must have a daily driver (I believe within 10 years of age)
-Owner must be at least 25 years old
-Vehicle must be stored in some type of enclosed space (garage, barn, etc)

Give them a shot.

Thanks I will try them too. Decided to just get regular coverage on my daily driver and hopefully Hagerty will come through this time, if not I will check them out. Thanks

[Sparks67]

Originally Posted by CamaroMike

Thanks I will try them too. Decided to just get regular coverage on my daily driver and hopefully Hagerty will come through this time, if not I will check them out. Thanks

American Modern Insurance is the Main insurance for Heacock Classics. http://www.heacockclassic.com/about/

Depending on your coverage, Heacock Classics offers other insurance carriers.
Which Include American Modern Insurance, Hanover Insurance, and Infinity Insurance company. http://www.heacockclassic.com/customer-service/

Your comment about KBB? Well, Kelly Blue Book only goes back to 20 years on cars, so a first generation is not even listed. I owned my 67 Camaro since 1983 and the first insurance company required me to get an appraisal done on my 67 Camaro. This was done at local collector car appraisal service that also restored cars.
When I moved to Florida in 1995, I got Nationwide and they required an Appraisal to be done on the car, but the local agent was able to do the appraisal.

When you contact collector car insurance, such as Hagerty or Heacock. Then you go through the same process, but you have to provide photos of the car and the agent will have you fill a form. The Agent will call you back and ask your more questions about the car. The problem with Hagerty is the horsepower limit seems to be around 500 Hp, so they refused to cover mine. Hagerty has great online system, but I put in all the data and they called me back denied the coverage. You will find that Heacock is cheaper than Hagerty for the premium. I used the same values and Heacock was $500 cheaper on the premium than Hagerty. I have insurance on mine, but the car is still under construction.

Jeff

[Sparks67]

Originally Posted by Mkelcy

"Vehicle(s) must be stored in a locked garage when not being driven." Obviously, if you're on a multi-state trip, it's unlikely you'll find a locked garage at your local Hampton Inn. I've asked if the vehicle is considered to be "driven" for the entire duration of the trip, or if it's not insured when parked. I'll post up what I hear back.

I wonder if this qualifies as being locked in storage?

[Flash68]

Originally Posted by Sparks67

A claim is a good test of an insurance company to see if they actually cover your loss.

Agreed.

Had a fire claim with Infinity several years ago on a previous car and they were quick and easy to work with.

[Sparks67]

Originally Posted by Flash68

Agreed.

Had a fire claim with Infinity several years ago on a previous car and they were quick and easy to work with.

Well, they didn't seem to do good here. http://www.ripoffreport.com/reports/...ty%20insurance Interesting website, but it seems all of the insurance companies that I had in the past are on this website.