Vintage Classic Car Insurance?

Hello Ferrari Chat Folks,

Is there a consensus of the best classic car insurance for our vintage Ferraris?
I've heard of Chubb, Hagerty, Barrett-Jackson Insurance, JC Taylor, Heacock Classics, Frundy Collector Car, etc. After reading all their website information, they all sound the same but their rates vary ~35% around a mean. They all say they provide agreed upon replacement value, spare parts, etc. So what is the difference?

Any help in wading through all the "sameness" would be greatly appreciated.

All the best!
ccferrari

 

You might want to specify what country you are in....

 

Classic Auto Insurance out of Indianapolis, IN. They are a smaller privately run agency. I have 8 cars and 2 motos with them. They will insure exotics also in addition to classic cars, all for agreed value. I got a recommendation for them from the Ford GT owners group. I switched my business from Grundy after it became a big headache to add vehicles. The original Grundy was bought out by Philadelphia Insurance Companies and they became very impersonal...long waits on the phone to do anything. You call Drew at Classic and a human answers the phone. I dropped my annual premium about 20% by signing up with them.

 

Hagerty

 

Pardon. Yes, I was looking for Classic Car Insurance in the United states. I live in California.

 

IMHO--Hagerty and AGREED VALUE, follow the market and keep pace with coverage. Personalized account manager, they take time to know you but most importantly---no bs if/when need them. Happy New Year!

 

I am very happy with ACE who have provided World Wide coverage for my Collection including shipping.

http://www.acegroup.com/

 

I have been with JCTaylor and Hagerty. While I have nothing negative to relate about JCTaylor, I do have positive experience with Hagerty. Needed them once and they came through with flying colors. Good luck!

 

May require homeowners etc in addition to classic car? No such stipulation/requirement Hagerty.

 

Until you ask you never know but they are an insurance company not someone who places insurance with insurance companies as some mentioned in this thread are. They are VERY solid and hassle free.

 

I am with Grundy. Great rates and zero deductable! I have 8 cars with them.

Bobert

 

The problem with most classic car insurance is the usage constraint. Most of them state that the only allowed use of the car is for car shows or car show related - pleasure driving is not covered. I went with an agreed value policy with Heacock because they allow pleasure driving. I have no first-hand claims experience with them, but they were very easy to work with and seem to be a good company from reviews.

 

I am with Chubb, and very happy with them. I haven't had any claims, but others I know have, and when you have a claim Chubb is the best.

 

I have not compared rates recently, so I can not comment on that aspect. However, I have been with JC Taylor since the 1970's and have submitted two claims with no issues whatsoever. (I have my collection with them). Interestingly, the second claim was for an engine fire.....I bought the car over the weekend, and on driving it home, the car caught fire. The following Monday, I called "Taylor" to inform them that I wanted to add the car to my policy, and then, needed to file a claim on said car.....Because I was a policy holder, it was a non issue.....they paid the claim..

 

I have my collection of cars, motorcycles and race cars insured through American Modern Home Insurance. It's a stated value collector policy, but does allow pleasure use. I'm very happy with them and like having all that different stuff on one policy.

 

It's good to know there are others that allow pleasure driving -- most of the popular specialty insurers don't. The fun in owning a Ferrari is driving it, so I quite literally scratch my head when I see owners sign up with a policy that has a usage restriction. I'm fine with an annual mileage restriction, but a usage restriction seems only appropriate for trailer queens.

As Jim points out, most of the specialty insurers (including the Heacock policy I have) are only agents for an underlying insurer. The agents control the terms of the policy, but claims are ultimately processed by the underlying insurer. I think the underlying insurer can also change over time at the discretion of the specialty car insurance company. I'll stick with Heacock for now, but seems like there are advantages to working directly with the actual insurer.

 

I agree, Grundy for all Classics, Hot Rods, Motorcycles and new Exotics.

 

Ace who I use is an insurance company not a broker.

They have no issue with me driving any of my cars as much as I want to.

 

Sounds good, I would definitely check them out if I hadn't just moved to Heacock.

 

I found Haggerty to be less expensive than Chubb. I had a lot of other insurance with Chubb but that didn't seem to benefit me.

 

I have been a customer Of Classic Auto Insurance for over 10 years, great service and most important to me - you can talk to the President Dan or his son Drew ( VP) for personalized service. Rates are very good, and Customer service is spot on.

 

I should have said this in my earlier post. Classic Auto Insurance is the broker for my classic policy on my cars and bikes, American Modern is the insurer. I deal with Drew at Classic and they have been great. I also picked them up from a recommendation on the Ford GT forum.