Bought my 02 Suzuka Blue brand new in 02. It's stock and has 44k. Lived in NH until last November whtI moved to SW FL. After a bunch of reading: I was figuring a good value to use was $25k. The cost for 3k annual usage is $662. They have an optional coverage that allows you to keep the car if it's ever totalled. That coverage is only $720. That seems like a crazy good deal for an additional $60. They also mentioned that they think I'm undervaluing my car. They have 4 levels. 1 is concourse condition ( mine is not that nice). 2 is excellent (probably what mine is) and that is $35k. $30k coverage is $747 & $823. Just trying to figure out what is best. Regular coverage doesn't work for our cars anymore. Guess it's a good problem to have. Would appreciate some feedback. Thanks.

 

I went with 'very good' condition on mine as it had about 150k miles on it when I switched over to Hagerty. I got the 'cherished salvage' on it too because if it ever happens, you can still make some decent money parting it out on top of getting the full value of the covered loss. They also allow you to add the value of mods if you ever do any. Unless the car was put in a bubble and never driven, I don't think concourse is necessary.

 

Are there higher yearly mileage options?

What are the usage restrictions?

 

Yep. Not sure the limit, but the price goes up with usage. Mine is set up for 5000 miles per year.

 

What is the advantage of Hagerty over regular insurance?

 

Agreed value policies rather than risk getting lowballed?

I got a quote from Hagerty awhile back and I was hit with a quote for well over double what I currently pay. Though I’m sure my age and address in a major city contributed more to that than anything else.

 

Gotcha. I'd never heard of it but I saw the name mentioned on here a couple times in the last month or so.

Yeah the rates mentioned above don't sound that great considering the mileage limitations, but I guess if that ensures you get a known value, maybe that's worth it... assuming they actually pay up what was agreed upon and don't send lawyers to make you fight for it like the other insurance companies do.

 

The cherished value option appears to be a bargain (forgot what they called it). What value did you put on your car? My car has low mileage and has never been tracked. It just has some minor scratches here and there.

 

All about the agreed upon value. Even more important with the inflated pricing these days. Regular insurance will not only stick strictly to bluebook, but also try to kill you over mileage, question the condition, etc.

Insurance is insanely hard to predict cost wise and location can be a huge part of it. For me at least (in my 40's and live well outside of the main part of the city) my Hagerty policy was the same price as if I had added it to my Progressive policy with the other cars. And that is with an agreed upon value that was $5k over blue book and with the upgraded 60 mile road side plan. So it is a great deal. But as with any insurance your results may vary. Have never made a claim on the car, but have used the roadside. Even picked it up at the track and did not question Had a blown molded coolant line and was 50 miles from home. Went very smoothly and they responded quickly.

Once thing to mention is you have to have the car garage kept I believe. Pretty sure they will not insure if parked outside. Also cannot be your primary vehicle. They do not care at all if it is a track car but of course will not cover you on the track unless you purchase track day insurance.

 

For me the question is not so much what you think your S is worth, but how much money you'd want if you needed to replace it. Hagerty will agree to send you a check for any amount you choose, and you just hedge your bet with a bill, so go from there. ~$30k is a good range imo.