Any current Hagerty Insurance customers here?
08-16-2018, 12:15 PM
#61
Thread Starter
Compared to what I was paying previously for less coverage, I was happy just to pay the entire annual cost up front with Hagerty. They did offer me the option of breaking it into smaller payments. I also wasn't aware that this varied by state.
08-23-2018, 10:03 AM
#62
For those valuating their aftermarket parts, are you using current value (either appreciated or depreciated) or new prices (cost of replacement if still available new)?
I can see on one hand, as a stated value policy, it's pretty much up to the owner to value their parts, however on the other hand, I'm sure the insurance company has some type of checks and balances to make sure you don't value your OEM hardtop at $20k. This is obviously an extreme hypothetical example.
As a real world example, the Spoon gauge cluster for EK9 used to sell in the used market for $800 back in the early 2000's but now it sells for $3-4K easily. Obviously classic cars are blue booked at much higher prices than what they sold for, however those are whole cars. I wonder how Hagerty handles valuations on modded new-age cars where the value isn't necessarily the base car but the rare discontinued parts on them?
I can see on one hand, as a stated value policy, it's pretty much up to the owner to value their parts, however on the other hand, I'm sure the insurance company has some type of checks and balances to make sure you don't value your OEM hardtop at $20k. This is obviously an extreme hypothetical example.
As a real world example, the Spoon gauge cluster for EK9 used to sell in the used market for $800 back in the early 2000's but now it sells for $3-4K easily. Obviously classic cars are blue booked at much higher prices than what they sold for, however those are whole cars. I wonder how Hagerty handles valuations on modded new-age cars where the value isn't necessarily the base car but the rare discontinued parts on them?
08-23-2018, 10:38 AM
#63
I sold my AP2 last fall to buy a CTR. There were some days I missed driving with the top down and recently picked up an ap1 for a decent price. I went with Hagerty instead of my traditional insurace, Geico. For the quote I put 3k miles a year, valued at 8k and 2nd tier roadside assistance. My price was $322 for one year here in NY.
08-28-2018, 09:17 AM
#64
Got a quote for $1042/year for $35k coverage (SoCal/34 yrs old/clean record). It's tempting, but my current coverage with Wawanesa is so cheap ($242/year) that i think i may stick with Wawanesa and just save the $800/year.
08-30-2018, 08:55 AM
#65
State Farm dropped my S2000 because they searched online and found a photo of my car on track at a non-competitive HDPE. I was a lifetime customer with a perfect driving record, no claims of any sort for 7 years and three cars, home and life insurance policies with them. My agent was apologetic and they did allow the policy to continue through it's natural expiration date, but I was furious.
Hagerty essentially matched the cost of my State Farm policy, but with an agreed-upon value of $30,000, including modifications, and they know the car is used for HDPE events because I disclosed it on the application (car isn't covered by the main policy on track, of course). Very easy to get it set up. I wish I could insure my daily drivers with them, too. They even broker add-on HDPE insurance. This is a company that understands that car-obsessed people are LESS of a liability than soccer moms.
Hagerty essentially matched the cost of my State Farm policy, but with an agreed-upon value of $30,000, including modifications, and they know the car is used for HDPE events because I disclosed it on the application (car isn't covered by the main policy on track, of course). Very easy to get it set up. I wish I could insure my daily drivers with them, too. They even broker add-on HDPE insurance. This is a company that understands that car-obsessed people are LESS of a liability than soccer moms.
04-02-2019, 01:01 PM
#66
Couple track guys recommended them to me. I got a agreed value on my C6 Corvette and the price I payed for a year is literally insane. I'll NEVER use another insurance company. The real test as always will be once I have a claim.
04-02-2019, 01:06 PM
#67
I understand that, but that only works until they pay you blue book at best for your S2k if it is stolen or totaled. I watched an insurance company royally screw over a friend whose low mileage (64,000) ITR got stolen. Even told them they did not believe the miles were that low. Tried to give them what you would expect from a regular Integra for a very well taken care of ITR. Garaged always and only used for local autocross events for years. They did manage to get more out of them, but still not near what it was worth. Insurance companies typically suck.
04-02-2019, 01:45 PM
#68
Registered User
I understand that, but that only works until they pay you blue book at best for your S2k if it is stolen or totaled. I watched an insurance company royally screw over a friend whose low mileage (64,000) ITR got stolen. Even told them they did not believe the miles were that low. Tried to give them what you would expect from a regular Integra for a very well taken care of ITR. Garaged always and only used for local autocross events for years. They did manage to get more out of them, but still not near what it was worth. Insurance companies typically suck.
Davo
04-02-2019, 03:04 PM
#69
I'm sorry to hear that about your friend. Losing a car like that is heartbreaking. I'm heavily involved in all kinds of insurance and I can say with a special car like that he should have had a special amount/agreed amount policy. Hopefully he learned something for the next time. (Or he could have invoked the umpire clause)
Davo
Davo
04-02-2019, 03:33 PM
#70
Happy Hagerty customer here! Has anyone mentioned the fun events yet?