Hagerty vs Heacock Insurance

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

 

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?

 

I found them all to be anywhere from 3x to 7x higher than state farm.

 

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 ...

 

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.

 

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.

 

What about Grundy? I have been with them for years.
Chadbourn Bolles
803 532 6257
803 798 3044 cell

My EMAIL: [email protected]

 

Hagerty on my Countach:
2000/yr =300k
2500/yr =400k
3000/yr =500k

 

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.

 

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.

 

That's upside to having cars well below the $100K mark. I'm paying 1/10th the amount some of you quoted.

 

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.

 

Grundy is also USUALLY overpriced imo.

 

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.

 

Great insurance resource, thanks for all the input.

 

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.

 

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.

 

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

 

Ok then, indeed, leland west also uses american modern, just charges more for same car value and coverage hehe

 

Good information. Reading the claims-paying performance of the underwriting insurers is worthwhile.

 

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.

 

Maybe an LLC or Trust based in Houston?

 

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

 

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.

 

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