Hagerty vs Heacock Insurance | FerrariChat

Hagerty vs Heacock Insurance

Discussion in 'LamborghiniChat.com' started by islandguy, Sep 7, 2012.

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  1. islandguy

    islandguy Formula 3
    Silver Subscribed

    Jun 12, 2007
    1,439
    Northern CA & NV
    I did an online comparison for insurance and Heacock came in at almost half of Hagerty for the same coverage: 88CT, 500/1M, 3K miles/yr, 0 Ded. Any thoughts on Heacock?

    Thanks in advance,
    --
    Larry
     
  2. Peter K.

    Peter K. F1 Rookie
    Silver Subscribed

    Jan 9, 2004
    4,448
    Connecticut
    Full Name:
    Peter K.
    Interesting. Been saying to myself that I should shop around from Hagerty. However, I like that we have an "agreed value" on all 3 of my lambos.
    I would assume and have to check Heacock on that.

    Anyone else have experience?
     
  3. rkrenek

    rkrenek Formula Junior

    Aug 26, 2003
    350
    Plano, TX
    Full Name:
    Rob
    I found them all to be anywhere from 3x to 7x higher than state farm.
     
  4. staatsof

    staatsof Nine Time F1 World Champ
    Silver Subscribed

    Mar 13, 2005
    95,949
    Fuggetaboutitland
    Full Name:
    Bob
    It really depends a lot on where you live. I've had Parrish Heacock for a while covering 3 vintage cars and my track car but I should probably shop it around next year . I switched from Geico for my street cars last years and cut my bill by almost 50%.

    That lizard gets paid too damn well ... :D
     
  5. triple-x

    triple-x Formula 3

    Jun 4, 2009
    1,428
    Full Name:
    Mr.Platinum
    I've been with SF for almost 30 years and have never had an issue.

    They treat me fair. 2500 miles a year on each of my cars the CT was only $160 (every 6 months) to add it with a stated value of 120k.

    The CT was actually 8 bucks cheaper than my Euro spec 88 ///M5 with a stated value of only $32k.

    Granted I havent had a single ticket in over 20 years.
     
  6. blown daytona

    blown daytona Formula 3

    Feb 6, 2008
    1,679
    maryland
    I switched to Heacock from Hagerty about a year ago. AM Best ratings are the same. They saved me a ton based on agreed values. Hagerty wanted to kill me on my Countach.
     
  7. Chadbourn Bolles

    Chadbourn Bolles Formula Junior
    BANNED

    Aug 5, 2005
    820
    Leesville, SC USA
    Full Name:
    Chadbourn Bolles
    What about Grundy? I have been with them for years.
    Chadbourn Bolles
    803 532 6257
    803 798 3044 cell

    My EMAIL: [email protected]
     
  8. Peter K.

    Peter K. F1 Rookie
    Silver Subscribed

    Jan 9, 2004
    4,448
    Connecticut
    Full Name:
    Peter K.
    Hagerty on my Countach:
    2000/yr =300k
    2500/yr =400k
    3000/yr =500k
     
  9. Mine is with Heacock. 3000 miles a year. Interestingly my 930 was higher than the Countach. A good bit higher, even though the coverage amount was 1/3. I have the 930 with State Farm now.
     
  10. islandguy

    islandguy Formula 3
    Silver Subscribed

    Jun 12, 2007
    1,439
    Northern CA & NV
    My quote was $2460/yr from Hagerty, $1372/yr from Heacock. My primary (21st Century) insures the Ferrari for $440/yr but will not insure the Lambo.
     
  11. staatsof

    staatsof Nine Time F1 World Champ
    Silver Subscribed

    Mar 13, 2005
    95,949
    Fuggetaboutitland
    Full Name:
    Bob
    That's upside to having cars well below the $100K mark. I'm paying 1/10th the amount some of you quoted.
     
  12. ken qv

    ken qv Formula 3

    Oct 25, 2006
    1,925
    Florida
    Full Name:
    Ken Roberson
    Heacock is better and cheaper. I've used them for 5 years and never a problem. My friend with thirteen cars has been using them for 20 years and never an issue.
     
  13. ken qv

    ken qv Formula 3

    Oct 25, 2006
    1,925
    Florida
    Full Name:
    Ken Roberson
    Grundy is also USUALLY overpriced imo.
     
  14. VTChris

    VTChris F1 World Champ

    Aug 21, 2005
    13,259
    Also look into LeLand West. After Hagerty raised my premium by nearly 50% after 6 years, I was forced to shop for insurance. LeLand came in at 50% less than the new Hagerty quote.

    This was for a Ferrari, not a Lamborghini.
     
  15. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
    Southern California
    Full Name:
    Joe Sackey
    Great insurance resource, thanks for all the input.
     
  16. thecarreaper

    thecarreaper F1 World Champ
    Silver Subscribed

    Sep 30, 2003
    18,061
    Savannah
    Agree , great posts. Been with StateFarm for 25+ years, though i only used them for daily drivers and muscle cars. Hagerty and Grundy for my exotics. StateFarm wants $714.00 for 6 months on a 2005 Lotus Elise! Not going to use them anymore. So i am shopping for an Elise and a new INS company. Will move my 88 911 with whomever insures the Lotus, when i find one to buy.
     
  17. DadsFerrari

    DadsFerrari Formula 3

    May 31, 2004
    1,559
    New England
    Full Name:
    Mister M
    I've also moved to Heacock Classic in TN, after years with Hagerty, and Leland West. I have multi cars and strggle to manage 1k miles each a year. Much less in premiums.

    Hagerty has high overhead with their size and all the ads and sponsorships of the Collector Car Auctions. Same for Grundy.

    Best part is how they all share the same billing underwriter, I forget the name. Heacock juust does less markup compared to the others.
     
  18. gday

    gday Formula 3

    Sep 10, 2004
    1,086
    CA, USA - NSW, AUS
    Full Name:
    Mick
    An important point. Neither Heacock, Hagerty or Grundy are insurance companies but rather agencies and all use differing insurance companies as their underwritters....

    Heacock underwtitten by: American Modern Insurance Company
    Hagerty underwritten by: Essentia Insurance Company
    Grundy was/is underwritten by Philadelphia Insurance who took control of those policies last year then untook control this year - all very confusing.

    -mick
     
  19. DadsFerrari

    DadsFerrari Formula 3

    May 31, 2004
    1,559
    New England
    Full Name:
    Mister M
    Ok then, indeed, leland west also uses american modern, just charges more for same car value and coverage hehe
     
  20. joe sackey

    joe sackey Five Time F1 World Champ

    May 23, 2006
    57,525
    Southern California
    Full Name:
    Joe Sackey
    Good information. Reading the claims-paying performance of the underwriting insurers is worthwhile.
     
  21. jgcferrari

    jgcferrari Formula Junior
    Rossa Subscribed

    Nov 21, 2004
    926
    USA
    Full Name:
    Jose
    Does anyone know if any of the above mentioned insurance companies other than Hagerty will insure my collector cars if I dont have an US drivers license?

    I live in Mexico but spend quite a bit of time in the US and have a home and my cars in Houston, it has proved impossible for me to get a Texas drivers license and no one expect Farmers will insure my daily drivers with some crazy rates, but I have no other choice. For the collector cars I have not been able to find who can do it, I only have them covered against 3rd party damage with Farmers also but the cars are not insured.
     
  22. zxttfan

    zxttfan Formula Junior

    Dec 11, 2009
    482
    St. Louis
    Maybe an LLC or Trust based in Houston?
     
  23. Andrew R.

    Andrew R. Formula Junior

    Jun 27, 2005
    593
    Michigan
    Full Name:
    Andrew
    Surprised no one has mentioned the Barrett Jackson endorsed collector car insurance.. a Chartis product.

    The rates are typically better than any of the competitors, and comes with protection against diminished value, unlimited roadside (distance & frequency of use), agreed value, and a number of other feature not many of the others have.

    Amy is the rep that takes care of most Lamborghini Club members... anyone here, feel free to give her a call and get a quote!!:

    Amy Spengler, TDC Risk Management
    Insuring Collector Cars, Homes, Watercraft, Aircraft and More
    1440 Arrowhead Drive Maumee,OH 43537
    419-794-1080 Direct & Fax
    877-545-2522 Toll Free
    [email protected]
    www.tdccompanies.com
     
  24. islandguy

    islandguy Formula 3
    Silver Subscribed

    Jun 12, 2007
    1,439
    Northern CA & NV
    Updated the agreed upon insurance value this year. For a 16% increase in value the premium went up 13%.

    Heacock, underwritten by American Modern Insurance Company, stated that once you get to a certain value it’s pretty much a 1:1 ratio of premium increase to value increase.
     
  25. mrp_e

    mrp_e Formula Junior

    Dec 19, 2003
    996
    Coasts
    Full Name:
    Bill
    american collectors insurance, great people/service, agreed to values, and very price competitive. . $2,700/yr for a superformance cobra, 71 jarama, 99 550, 91 diablo. the 550 and diablo are about 2k of it, they prefer cars 25 yrs+ older
     

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