It's my annual Ferrari insurance renewal time again. As usual I'm checking out various companys' rates. Who are we all insuring with , and how do you like them? I would just love to hear your stories. Thank you all so very much. Jq.
As luck would have it, I am also shopping for insurance. Hagerty qoute at $579 plus $50 for the "Premium Plus plan"...towing, battery jump, fuel, etc. American Collectors at $600. Grundy sez $464. 1985 400i with agreed value of $30k, which might be too low. Still looking...... Gary
You need to really look at the fine print on some of those policies. I forget what company it was that I was looking at but you were only "allowed" to take the car to the store or restaurant two times per month.
+1 for Hagerty - been quite happy with them, although I've never needed anything more than a tow (their roadside service is great, btw, allowing for something like 125 miles of guaranteed flat bed towing). Their rates depend on agreed upon value and they have a really great valuation tool. Cheers! Ruben
+1 Most of these program policies have limitations on use and/or annual mileage. You generally get what you pay for. I saved a bunch when I dropped Hagerty and combined my Ferrari with my other vehicles, homeowners, umbrella, etc. Nice to have everything with one insurer and you leverage higher premium dollars on the total account. Most who buy one of these stand alone auto policies forget to schedule that policy under their umbrella and end up driving around with $150,000 of total bodily injury liability insurance and only $50,000 of property damage coverage. Rear end a La Ferrari and you may be underinsured.
I used to have Chubb for the Ferrari with my other cars, house and umbrella until I got tired of the steady annual rate increases well above the inflation rate despite no claims. Chubb has a premium reputation for service but the disparity between their rates and "normal" rates just got too high for me. When I switched to State Farm, they wouldn't cover the Ferrari (in CT at least) and so I switched to Hagerty for that car with an agreed value at a good rate. Since I never had a claim with Hagerty, I can't tell you how they performed in a claim situation but I was happy with the coverage. I don't recall the specific usage language but was comfortable that I could drive the car whenever and wherever I wanted to recreationally without worries. Hagerty did not have any specific mileage limitations, just that I have at least one other car as a "daily driver" and that the car be kept in a locked garage when not being used, which was not a problem.
I have four classic cars insured with Hagerty. Stated value, towing coverage, high liability coverage that meets the needs of an umbrella policy, etc. The rates are ridiculously low (someone mentions near $600 earlier in this thread, I'm paying a fraction of that per car). I did (unfortunately) have a comprehensive claim (something fell on one of my other cars) and they were fantastic about it. Zero complaints - I would highly recommend them. In fact I wish they insured more than my classic cars - as they are a pleasure to deal with. Dealing with the biggies for home insurance and the daily drivers is a pain in the neck!
I had Hagerty for over 20 years. Their rates skyrocketed on me 2 years ago and I went to Condon & Skelly. I just renewed and went to Grundy, as they gave me the agreed values I needed to be comfortable and they were less than others. No minimum mileage, no use as primary vehicle, ect - same as Hagerty. I'm in NY and maybe Hagerty got slaughtered from Sandy, but their price are double compared to everyone else I spoke with and I'm 57, no accidents and no speedings tickets.
Hagerty here. Had a claim with them and told them what I thought it would cost to fix it. They didn't even send an adjuster; they just wrote a check.
For those of us without a garage, collector car/reduced prices insurance is not feasible. I live in a condo with assigned parking for all my cars but they won't insure vehicles that are kept in apartment buildings...
2 cars 85 Mondial QV Coupe. 25K Agreed Value 67 Karmann Ghia CV. 10K Agreed Value Total Policy - $450/year Never had a claim, so can't relate any experience there. Sid
I'm sure you could find a storage facility or rent a garage space from someone, if it makes financial sense.
The option to walk out of your front door, and within seconds, have several options on which vehicle you feel like driving for that moment of the day, for whatever purpose it may be, is very much priceless, actually... And, to know they are being protected from the elements, having reserved parking, under 24/7 video surveillance, and knowing that neighbors would bring up anything unusual should something occur, gives me peace of mind. Where I live, even a real 2 car garage is completely out of the question due to old construction. If you're ever in Palm Beach, please let me know so I can share with you the unbelievable view I'm blessed to see every day right out of my living room! At the end of the day, don't we all do the most we can with what we have? I'm certainly no exception and I'm okay knowing that I won't qualify for classic collector car insurance for the time being nor until I win the lottery and can afford a 6-10 covered car dwelling.
Agreed the view can be wonderful I have a second home on Singer island.. the one item I do not iike is not having a private garage just common garage (like most condos)but the view makes up for all of that...BUt at my full time home i do have the luxury of a very nice garage which Hagerty has approved they even sent an inspector to view my cars etc. I am about to switch to grundy though do to lwer rates and less restrictive....check out Grundy...
No, I haven't had a return call on that one yet. Since it melted I think I might have some trouble with that one.
Don't decide based on the difference of a couple of dollars. I've made claims with Hagerty and they are the best. They have car guys working there and if you have an issue they'll actually have a dialogue with you, which I've never experienced with another carrier. Get the premium roadside package which includes 125 miles of towing per incident with NO LIMIT per year.
Hello all.......I just yesterday submitted my app and payment to Hagerty, now I wait. As luck would have it, Tuesday evening while getting a haircut, there was an insurance agent in the next chair over, she added her opinion and I listened, along with all of you. $579 a year, $35k as a value, which I may bump up in 6 months when "everything" is done on 55027. I had them delete the tow/road service package, I have "free tow" business cards in my wallet from the guys that haul cars into the dealership. Next is a new tag....thinking of a couple that are still available here in FL. Stay tuned. Gary
Boy, that was quick and easy....my Hagerty agent called with an approval and emailed temp id cards, I went to the tag office this afternoon and bought a plate......I am "street-legal" !!!! I did have to order a special plate......she said 60 to 90 days, I will let you all know when I get it. Gary