Well “facts” in one area are NOT universally true. You are acting that that they are universally true. As I stated in my comment people cannot assume that rates are similar in all regions of the country - they are not. AIG and Chubb both are withdrawing from CA and no longer writing. So your “fact” about AIG Private Group is false in CA. So I suggest you be careful over stating facts when you clearly do not have all the “facts”. And a sample size of 10 is clearly not statistically sound especially for making broad and general statements, shame on you, you should know that just from general knowledge. Additionally all insurance companies price their products competitively where the want to write business and non competitively where they prefer to write less business. Most insurance company’s rates in large metro areas are high relative to their own rates for suburban and rural areas but even that cannot be generalized because of other factors such as weather (hurricanes tornados etc) and high fire areas etc. enter into rate making process. I have personal and specific knowledge of this having worked for a couple insurance companies. What is your experience in that area?
no **** sherlock, now you are retreating because you overstepped. I also included about half of those are from California. also most of my examples were Grundy, not AIG. fact is Hagerty is good for the service and better than most standard policies, but they are usually not the least expensive collector policy. just look at the overhead they have to run, commercials everywhere, 10% to brokers etc. I also suspect that they started juicing their policies the last few years leading up to the IPO.
Your knowledge of the insurance is alarmingly lacking for you to be making any broad general statements. I don’t know how you think I am retreating from my original comment. I am not in any way retreating from those comments. You may know a lot about about cars but certainly zip about insurance.
you have shown zero knowledge about it, not because you were an "insurance executive", but because you are a blow hard who has made wrong assumptions. you really didn't go out there and compared "8" companies to Hagerty, you even admitted a month ago you didn't and especially for the #1 comparison, Grundy. so you are taking an authoritative position as an "expert", but you have offered ZERO in the way of facts. I on the other hand have personal experience plus working with Hagerty, AIG, Farmers, and Grundy from a business perspective. My findings were backed up by dozens of other users with comparable results.
Well you are simply full of $**t, and in fact I did survey eight companies on line and got back eight quotations. Are you are calling me a liar and you are just incompetent to make any such judgement. My survey was only for my personal vehicles and circumstances, I am not trying to project my circumstance to the entire country, as you purport to do from your 10 individuals. You are simply wrong, each insurance company has different state auto insurance rates filings and those filings are likely different for each zip code in that state. So companies may be very competitive in certain zip codes of a state and totally non competitive in an adjacent zip code. I don’t prefer Grundy not because I don’t like the company, the company is a fine company, I just don’t like their underwriting restrictions and use restrictions so I specifically did not get a Grundy quotation as I don’t want to comply with their rules and restrictions! Reread my previous comment more carefully! You are exactly correct I am an expert where as you have zero experience in the insurance industry, incidentally I happened to manage a personal lines department of 10 agents for decades, we specialized in wealthy business owning clients and did personal lines business with about 40 personal lines companies but no direct writing companies since they did not use brokers. Your comment specifically stated you had a 10 sample size - do you call that significant? Now when called to task about your sampling you now have dozens other users, I would call you the blow hard as your comments just don’t track. You are correct brokers do make a 10% commission, do you think Allstate, State Farm, Farmers, GEICO work for free, they are also commissioned sales folks. Grundy works with brokers and does also pay commissions , my company placed lots of business with them for folks that didn’t mind their restrictions and rules of use. Get a grip and don’t make statements which on their face are obviously incorrect as they are just not comprehensive of the universe of auto insurance. You suffer from not knowing what you don’t know, a common view from outsiders attempting to look into an industry without any real knowledge. But everyone one thinks they have knowledge because they got a few insurance quotations vs a broker who has seen thousands and thousands of quotations.
I had ZERO restrictions with Grundy! Actually, Hagerty in most cases has more restrictions because of miles, their definition of "collectible", and personal restrictions.
How can you compare any of those quotations, you have no idea that they are quoted to the same specifications or that they are exactly the same, coverage, limits, deductibles, driver qualifications, use restrictions, etc. You will note my comment was that NONE of the quotations which I received were to my exact specifications, some didn’t even include physical damage coverage on some vehicles, others were at much lower liability limits and the deductibles went from zero deductible to $2,500. Your exercise was a total waste and meaningless results unless you have the individual quotations and do a side by side comparison. Most all the “standard” insurance markets did not provide Agreed Value coverage and when I questioned them about the coverage they replied that coverage was not available from their market! You are simply incompetent and just don’t know it.
I have re-read the entire thread. Are there any major changes to what was previously recommended? Did anyone else under Geico in TX got the cancellation notice yesterday? Geico will no longer cover my FF beyond the end of current term in August. It's now called a "restricted vehicle." I had Geico on the FF since 2017 with only 1 claim: front glass chip that was repaired by Safelite. 6 months ago they increased the rate by 30% so it became $2600 per year on the FF. My location is officially classified by TX as rural and it's obviously garaged. My town got battered by large hails last week followed by every other subsequent days of more hails and tornado radio going off, so it's a havoc here...and now I get this notice. My cars were all garaged so no claims due to the storm. It's likely just a coincidence I'm overthinking the reasons.
I just sent you a message. I am in Colorado as well and I can't find a Hagerty quote anywhere near that low. Do you have an agent/broker you work with that you could recommend? Thank you
I initially was looking at Hagerty for my Lusso, but ended up going with Cincinnati. WAY less expensive, no mileage restriction (was important for me as it’s my daily driver), and agreed upon value. Shoot me a message and I can give you the contact info of my agent (very experienced with exotics).
I had a terrible time trying to insure my FF through Hagerty. Online application was accepted, they even took my payment information for auto-payments. Then they had me talk to an underwriter who said they couldn't insure me because the car had "so much horsepower" and that I didn't have any experience with cars with "such high horsepower". I have daily driven a car with almost 800HP for 3 years before I changed my daily driver to a car with over 1000HP. They listed the HP for base model versions of my cars and said that my cars had half of the horsepower I claimed. They refused to acknowledge that I did not have the base models. They ended the call by telling me to drive the car for a year, "get some experience", then apply again. I cancelled my Hagerty Drivers Club it was such a bad experience.
Yeah I had a weird experience with hagerty also. They quoted me a stupid price for my 360 I think for two reasons 1) age and 2) my daily is owned by my company so it looked like I was daily driving a 360 (lol I wish). I ran coverage on an ff and it was still pretty stupid high. I get that they have the best coverage in the event of an accident but for the differential it’s just not worth it in my case. Sent from my iPhone using FerrariChat
No longer recommending State Farm; was recently canceled on all of the exotics and even one of the slightly expensive regular cars.
