Hagarty Insurance DENIED on my 2002 Ferrari 360

That is exactly what insurance is! It's a financial tool to mitigate risk.

Banks require insurance for their assets - your mortgaged house or car.
States require insurance to cover the costs of auto crashes.
Health insurance is for you if you need it! NOT everyone needs health insurance, but everyone will consume healthcare. The media incorrectly uses them interchangeably.

I also had to fill out the Hagerty "resume". My historic car cost was considerably less than my Allstate policy at the time. I haven't had any claim experiences.

 

I just went through the insurance hassle. After an eyewatering quote from my existing provider (USAA), I looked at Chub, Grundy, Hagerty, Progressive, State Farm and Allstate. Surprisingly enough, Allstate, of all people, gave me the best rate. Shockingly so. In fact, less than what I pay for my current Mercedes and Jaguar from USAA, for a Ferrari. Color me shocked!

 

Just be careful with Allstate. We insured our home and 6 cars with Allstate when we relocated to Indiana. Great rates........initially. Allstate's business model is to offer super low rates to suck you in, then within 1-2 years they start jacking the rates up substantially. The worst example was with my 360, but they did it with all our cars. And this was with no accidents and no claims. In year 2, I got a premium notice and the premium literally more than doubled. When I asked our agent for the justification, he simply said "Allstate determined we weren't charging enough". Both Porsches went up by over 60%, and the same with the rest. Even my DD Range Rover went up about 40%.
BTW - this is a well-documented practice by Allstate.
When the agent said "Allstate determined we weren't charging enough", I said "Well, I've determined that I'm going to switch providers".

 

I have heard the same thing. If they do, I move, simple as that. I have literally been with USAA for decades, and the quote they gave me for the Ferrari was jaw on the ground stupid high in comparison. Allstate gave me a substantial discount for 'safe driver' which I am sure will vanish into the ether when renewal comes around. Allstate won the business for being able to get it done in a reasonable amount of time, and being the least annoying. Progressive got the nod for most annoying, they said "oh yeah, we do Ferraris" and then didnt.

 

Hagerty wouldn't touch a gen 5 Viper.

 

odd for me to hear these negative stories about hagerty.
as i said several times, i have had nothing but excellent service from them.
they must have some algos that tell them new supercar owners are high risk clients or something.

btw, when we had our fire, both state farm and pure were difficult to deal with on the payments which is precisely why we went to hagerty with everything.

 

Hagerty did cover my new 296. Sure, its 4k/yr, but that's about what I expected on a $400,000 car in this particular state.

Perfect driving record
Perfect credit.
History includes a Roma (1yr), C7z06 (5yr), 370z(6yrs).
I think the Roma was about 2800/yr with allstate.