I'm planning to move my S-2000 insurance from my multi-car Progressive policy to Hagerty next month, but not sure what the realistic insured value should be. It's a 2004, 35,000 miles and drive about 2500 miles/year, I'm the original owner, never in an accident, no performance mods, 99% stock. Exterior is a 9.8/10 and the interior is a 9.5/10.
I'm thinking of setting an agreed value of $35,000. Thoughts??

 

Hagerty will limit what you can do with the car but your evaluation is spot on. Good luck and let us know how it goes.

 

I am also thinking of doing an agreed value from Hagerty. I am pretty sure standard insurance will not give much if they go off NADA value. My value currently is $19K NADA and KBB Average private party is $27K. When I checked NADA they did not account for mileage, maybe I am doing something wrong? All I know of about insurance is they pay you as little as possible. If I wreck I suspect I will not get much but Haggerty when last checked is about double the cost with agreed value as they charge you for the year where my current insurance I pay nearly nothing when it is taken off road and stored for an average 6 months a year where I live. Is it worth it from anyone's personal experience?

 

Is it work being paid $27k vs $17k for your car if it is totaled or stolen? You will just have to do the math there. And other insurance companies payout is going to go down by the mile. I know someone that had an Integra Type R that was stolen. Had only 60,000 original miles on it and normally was used only for autocross and kept inside. Their regular insurance company screwed them hard. Even told them they did not believe the mileage they stated. Paid them a LOT less than it was worth and even less than what blue book should have been.

Hagerty also bases your rate off of miles driven. It is not a "how many months you drive it" thing. So my rate is set based upon my agreed upon value and the stated 5000 miles per year I drive it. If you go with lower mileage, the rate is lower.

I personally want mine insured the entire year. If someone broke into my house and stole my car while I was gone on a long trip in the winter, I want it covered Never know what can happen and the extra few hundred bucks a year is worth it to me to have full year coverage on the car.

 

Not really. I drive mine around all summer, autocross it, track it, etc. The only thing is you tell them how many miles you drive the car per year and they set your rate based upon that. If you drive it more, state more mileage and your rate will be a bit higher. Now it may get pretty spendy if you drive it 15,000 miles per year but I have not run into any other limitation here. They are actually less limiting than most insurers. I have known people whose regular insurance dropped them because they found out they took their car to the track on weekends (Even though a track incident would not be covered anyways). When I set up the policy I described the usage as pleasure driving and track/autocross car. That is the niche that Hagerty fills. Of course they will not cover it on track unless you get their track day insurance per event, which you can literally set up on the spot minutes before an event.

The only real requirements otherwise is that you keep it garaged and you send them a few pictures of it prior to coverage starting.

 

Sounds about right. I've had my first year 45K km Silverstone / red insured with Hagerty for five years now. The agreed value is 30K Canadian. Probably should bump it up a little at some point, as I'm quite sure I'd have a hard time finding a garage queen replacement for that. When the renewal arrived this year, I see they now offer the option of paying under $200.00 a year and you get your car back if it gets written off, along with your agreed value. Good thing to consider for some owners.

 

I bought mine last year, and still keep an eye on prices for fun. If today you wanted to buy an equivalent car to your silver/red 45K km, you'd have to pay someone $40-45K CAD.

 

Not saying your wrong, but asking prices on your coast seem quite a bit higher than here. A buddy just bought an 05 sebring silver / red mint one owner with 24K km for 30K CAD. He definitely made out like a bandit. I would have bought it if he hadn't. Glad he did, as the wife would have freaked out. Our new garage is already running out of space!

 

Wow. That's a great deal for sure!

Yes, all else being equal, a guy would pay more here for an S2K than one Toronto for example. Perhaps as simple as greater selection back East vs. here.

 

The OP's appraisal seems about right. I've been happy with Hagerty over the three years that I've been with them, but then they haven't really been put to the test as I've fortunately not needed to file a claim with them

My wife and i have visited Victoria numerous times. but we haven't explored much of Vancouver Island itself. How is your selection of roads in the surrounding area?