Stop in for a cup of coffee
- Thread starter toolmanmike
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Unconventional
Well-Known Member
Unconventional
Well-Known Member
Went with the money they did.
Talked with both insurance companies. 2 differences; comp(theft, fire, etc.) is much more with Hagerty and Hagerty has something they call cherished value coverage. This means if the car is totaled you get the 50K plus get to keep the car.
dukeboy440
Well-Known Member
Watch the mileage limit. I was limited to only driving May thru September and 1500 miles when they quoted me 4 years ago.
Haggerty I have no mileage limit and they cover on track racing incidents on my policy. I pay just under 600 a year, for 4 project vehicles, with the dart valued at 30k(by them) as it sits. The others are valued at 10k, plus 7500 for tools and 10,000 for spare parts. Over insured I’m certain but i don’t mind it. Plus if one is ever totaled, I get to keep it at no buy back charge, happened on my polara already in 2022
dukeboy440
Well-Known Member
No mileage limit on either policy. However, I would double-check your policy it says specifically it does not cover racing, tuning etc. Page 10 on my Hagerty policy:
RACING
There is no coverage under this policy while
"your covered auto" is being prepared for or
being used in a race speed contest, including
but not limited to practicing or testing for such an
event.
BUT you can but a ryder for those activities for very in expensive...
Doing more research on this cherished value coverage. It is not worth paying double the cost to have this option in my opinion. Grundy like most others I believe stated to me I have first right to buy back the totaled vehicle. Obviously in my case, the sentimental value and the 1966 Hemi would be the most important. This is pulled from some reading I was doing............................
In the US if the vehicle is declared totaled the Insured has first right to salvage that being 20% of the payout. For example, being the agreed value payout is $50,000 then the insured can "buy" it back for 20% = $10,000 and receive a payout amount of $40,000. The Title is rebranded as a salvage vehicle until it is repaired when it can have an enhanced inspection done and then the Title is once again rebranded as a Reconstructed Vehicle
In the US if the vehicle is declared totaled the Insured has first right to salvage that being 20% of the payout. For example, being the agreed value payout is $50,000 then the insured can "buy" it back for 20% = $10,000 and receive a payout amount of $40,000. The Title is rebranded as a salvage vehicle until it is repaired when it can have an enhanced inspection done and then the Title is once again rebranded as a Reconstructed Vehicle
dukeboy440
Well-Known Member
I have the racing rider. It’s an add on you can purchase. Only applies to non professional racing on track, no public roadways
dukeboy440
Well-Known Member
Yes but having been thru this with Hagerty , the cherish rider , which for me is 12 bucks a year added on, I don’t have to pay that 20 percent to buy it back, nor do they change the title to a salvage or rebranded. My polara was deemed a total loss in the fire I had in August of 2022, they sent a guy out, he appraised it, totaled it, I had a check 3 hours later, and got to keep the car with only thing being deducted being my 50 dollar comp deductible. And my title stayed free and clear
I understand that but when the policy is $810 a year compared to $362......................................big difference.
Hello everyone. Happy New Years Eve. What have i missed?
Happy New Year to you as well. Having a good discussion about Collector car insurance
I have Hagerty on the Demon and both rat rods
Hagerty for me I have found is more than double the price of Grundy......................
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I have been working on the Charger every free minute. Have the fuel and brake lines run, lower radiator hose modified, header clearance opened up, alternator mounting made, switch panel mounted and started pulling wiring.
dukeboy440
Well-Known Member
Yes. But I’m just gonna say this.
I sold insurance for Farmers, JC Taylor, and Bristol West as an owner agent for a few years. Generally speaking, insurance is like most anything else in life, you get what you pay for. Cheaper isn’t always better, especially with classic car insurance. JC Taylor for example, they’d usually be the amongst the cheapest for classic car insurance. And if you’re not driving the car very much and it was mostly a garage queen with zero rust, I’d recommend them. But if it’s a driver , their coverages sucked.
I have no skin in this game. I’ve had JC Taylor, Grundy and Hagerty on my cars over the years, Hagerty, while probably one of the more expensive options, their customer service on the few claims and issues I’ve had, has been OUTSTANDING. Their call center is one of few that is actually in the US and staffed with clear, concise and knowledgeable car people. When I had that fire, they sent an appraiser within an hour, 2 hours for him to do the paperwork and take pictures, 3 hours later, E-check deposited.
JC Taylor dropped me on my 78 despite being an agent at the time for them when they add the “no visible signs of corrosion” policy.
Grundy lifted my driving to May-September and I had to submit a mileage picture at the end of each renewal period to renew. I also had to send in photos and debate a much lower value. Maybe things have changed there as it has been nearly 5 years since I switched to hagerty.
Choice is entirely yours, but from my experience, cheap insurance usually nets cheap results when something happens. Especially when you realize that insurance is entirely paid with dividends of of the stocks the insurance company buys in the stock exchange….no joke.
When my renewal is closer I will call Hagerty and see if I can get a better rate. Not sure why it is so much. Perfect driving record and credit, 54 years old, must be the state?
dukeboy440
Well-Known Member
Zip code and number of claims per zip code have a big impact too
This is the auditors presentation for our county's 2024 audit. My wife is the CFO in charge. It is a clean audit with no findings or needed changes. Good for her. It starts at 7 min mark if you want to get bored listening to numbers and regulations and ends at about the 32 min. mark. My wife is wearing the red jacket in the upper right screen.
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