What Classic Insurance to get?

fast 99 said:

Insurance co's are getting hard to deal with. Many larger ones lost huge money last year. Have state farm [stated value] but premiums are getting up there. Going to look into other options but last time I did it was much more elsewhere

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Yep, my situation is identical

Did get a quote from Haggerty yesterday on a 70k vehicle, 500 a year. Didn't think that was too out of line. It's been a while since I checked with them. Actually think the premium went down. Not going to change yet. Will wait and see what State Farm charges.

The daily driver insurance went up 25%. It's now $1100 a year on a 15k vehicle. Seems unreasonable but repairs are also high. Wouldn't take much to total it.

Have a clean driving record and no claims. Knock on wood.

I just finally put a couple of vehicles on classic insurance through USAA. Hard to swallow given that the insurance restructioun is really for collectibles and not really geared toward driver-quality vehicles. But, the premiums are MUCH lower.

There are lots of tradeoffs, but insuring for instance my '67 Impala as a normal car while it gets driven maybe a couple hundred miles a year stopped making sense years ago.

We have 5 vehicles with connect by amfam (Costco) w/$500k coverage and $1000 deductible. Rates have jumped the last two years. 2022 was $1780/yr, 2023 was $2460/yr, this year was $3600 on renewal.

I guess any vehicle with “self driving” capabilities has jumped, which is two of our vehicles. The other obvious metric is the cost of a bumper replacement. Older vehicles without sensors, radar, etc. are $300-500. A new car is $3000-5000. We are going to sell both of our newer DDs and look for $5-7k DDs. My wife is only working for another 6 months, then becoming a stay at home mom. I only commute to the office twice per week. So fuel efficiency just doesn’t matter as much to us anymore. Especially if depreciation and insurance costs outpace the savings at the pump.

My square is insured by the same company, but I’m sure it’s waaay underinsured at “replacement cost”. I need to look at Hagerty to get it in stated value instead.

I am switching from Hagerty to JC Taylor. Hagerty increased my rate on 4 vehicles 70% for the 2024 renewal year. No accidents, claims or tickets to justify the increase.
I take back what I said about JC Taylor. When I tried to finalize the insurance today, they changed the price they quoted, higher of course, and told me they will not provide insurance for trucks with any type of cap or cover on the bed. I will never do business with them. Few times I can say "never', and this is one of those times.

American Collectors in Cherry Hill NJ. Reasonable rates, agreed value. Cheaper than Hagerty. Make sure your driving habits fit in with the terms. Last thing you want is a claim denied because you used your vehicle in a way not covered.

Hagerty

Am with Hagerty. You declare a value for your vehicle. Very reasonable rates and if you are involved in an accident you get to keep your vehicle to part out, etc...

For poops and giggles I went and did a few Hagerty quotes. Cheapest was $1,181/yr, highest was $1,721/yr. That was playing with mileage driven, $35k guaranteed value and whether or not I said I would use it for Autocross and promotional events. That's double what I pay Grundy for the same coverage. Nope.


**Also did American Collectors (which I think is tied to USAA, who I use for my regular insurance) and I might be jumping ship at the end of this year. They're ~$300 less per year than Grundy with the same coverage and are rated very well.

I've been with Hagerty for almost 17 years. I've talked to them on the phone and the rates are good. I asked the girl, "Why are the rates so reasonable?" She replied that people who have classic cars usually aren't a bunch of yahoos driving around like idiots. (However, there are some guys with nice cars who show off and get themselves into trouble.) Click here to see short clip.

I've had Hagerty on several vehicles for several years now. Last Fall during the passing of my mother; I didn't go into the garage for several weeks due to circumstances with dealing with her hospitalization and subsequent expiration. Anyway, after the funeral my son and I went into the garage to hang out and I immediately noticed something wasn't right. A few of the twenty truck grilles had fallen from the wall and left an empty spot. A black '79 grille scraped the fender of my Buick one way, a silver '76 grille scraped it another way and a chrome tube grille nailed it directly above the wheel arch. This left a dent and hunk of paint missing.
I called Hagerty and they were in touch with me the next day. I sent several pictures of the damage and they had a check in the mail to me the next week. They didn't play around or stall. Now, if I can get someone to do the repair that quickly...

***This is one of the member's fault!!! They contacted me about this suspect tube grille and didn't want it due to paying shipping cost!!! I can't remember who it was so I reckon they get a pass...


Scratch & Dent

TotalyHucked said:

For poops and giggles I went and did a few Hagerty quotes. Cheapest was $1,181/yr, highest was $1,721/yr. That was playing with mileage driven, $35k guaranteed value and whether or not I said I would use it for Autocross and promotional events. That's double what I pay Grundy for the same coverage. Nope.


**Also did American Collectors (which I think is tied to USAA, who I use for my regular insurance) and I might be jumping ship at the end of this year. They're ~$300 less per year than Grundy with the same coverage and are rated very well.

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Wow, that's more than double the price I was quoted for 1/2 the value. Has to be some reason, age, record, vehicle type, area?

fast 99 said:

Wow, that's more than double the price I was quoted for 1/2 the value. Has to be some reason, age, record, vehicle type, area?

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I'm 34, those values were anywhere from 3k-7k miles driven a year. The low one was 3k miles, didn't notate the frame modifications (my truck is a cut down long bed), 420hp and didn't not using it for AutoX or promotions. The high one was 7k miles, frame modifications, 420hp, using it for AutoX and promotions. Not sure what in particular makes it so much higher

TotalyHucked said:

I'm 34, those values were anywhere from 3k-7k miles driven a year. The low one was 3k miles, didn't notate the frame modifications (my truck is a cut down long bed), 420hp and didn't not using it for AutoX or promotions. The high one was 7k miles, frame modifications, 420hp, using it for AutoX and promotions. Not sure what in particular makes it so much higher

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It's just interesting how their algorithm works.

The cars are high HP. Didn't ask about millage and neither did they. I haven't driven any of them more than 500 miles a year. Figure any mileage limitation wouldn't affect me.

Can't imagine it would matter on a stated value policy but if a truck is insured that has a lift kit, winch, big rubber, ect regular insurance policy is only covering a stock truck unless a rider is on it. In other words, they will not pay for aftermarket modifications. Saw people take those losses many many times.

fast 99 said:

It's just interesting how their algorithm works.

The cars are high HP. Didn't ask about millage and neither did they. I haven't driven any of them more than 500 miles a year. Figure any mileage limitation wouldn't affect me.

Can't imagine it would matter on a stated value policy but if a truck is insured that has a lift kit, winch, big rubber, ect regular insurance policy is only covering a stock truck unless a rider is on it. In other words, they will not pay for aftermarket modifications. Saw people take those losses many many times.

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Agreed. Granted, I didn't call them and talk to a person, I just did their online calculator. It may estimate high and then once they have a conversation with you, it make get cheaper. Who knows