Ferrari Insurance-Hagerty report

Discussion in 'Ferrari Discussion (not model specific)' started by lukek, Apr 14, 2004.

  1. lukek

    lukek Formula 3

    May 2, 2003
    San Francisco
    Full Name:
    Most people take the time to bit*h and moan. Here is a positive experience.
    Just received word that the insurance settlement came in (vandalism to the Ferrari). If anyone is considering insurance for classic or high performance occasional use policy, these guys were amazing. They must put something in the water cooler because they were always so cheerful and helpful on the phone. I am so used to gruff and rude customer service reps in some dogforsaken country, and this was a striking contrast.
    No hassle, good (ridiculously low) rates, fast claims service, and overall a nice experience (as nice as it could have been after such a nasty and vile act).
    No commercial connection, just recommending a vendor.
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  3. flashman

    flashman Formula Junior
    Silver Subscribed

    Jan 5, 2004
    Star Valley, Arizona
    Full Name:
    William Rappaport
    I also have to agree with you. I have 4 of my car's insured with them, and the service and rates are the best! They are great people to deal with. My 2 cents.
  4. TOM B

    TOM B Formula 3

    Jul 24, 2003
    Orange County, NY
    Full Name:
    Thomas Buckley

    Could I please have their phone # and / or website? Thanks.
  5. lukek

    lukek Formula 3

    May 2, 2003
    San Francisco
    Full Name:
  6. Spasso

    Spasso F1 World Champ

    Feb 16, 2003
    Land of Slugs & Moss
    Full Name:
    Han Solo
    I have yet to make a claim with them but the news is good to hear. When my old slow 308 turned 25 years old my premiums were cut in half while still retaining the agreed value!. What a pleasant surprise.
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  8. BWS550

    BWS550 Wants to be a mod

    Apr 1, 2002
    Full Name:


  9. DN35

    DN35 Formula Junior

    Nov 22, 2003
    Full Name:
    D. Norton
    I use Hagerty as well. I have my 308 with them. When I also got a 914, I added it on for only an additional $60/year for a $10k agreed value policy with $0 deductible. Nice.
  10. dm_n_stuff

    dm_n_stuff Global Moderator
    Global Moderator Lifetime Rossa Owner

    Dec 10, 2003
    Babcock Ranch, FL
    Full Name:
    I use Great American Insurance. Just ran a conparison of my current rates with them Vs. Hagerty.

    Same coverage, no ded. Hagerty $1454 Great American $324 per year. If hagerty would consider the 246GT a classic, not an exotic, it's $524 per year.

    Great American insures my 246GT as a classic, not an exotic, which greatly reduces the rate.

    And, they even have a $0.00 ded. for windshield damage. I've never had a problem with them, and they are great to work with.
  11. Jerrari

    Jerrari F1 Veteran

    Jul 24, 2001
    Full Name:
    Jerry Wiersma
    I've been with Hagerty for the past 8 years without a claim and ALWAYS payed them on time. I have always liked their good manners on the phone, but never dealt with them in any other way (claims, etc). When I sold the 308 and was ready to drive to Ohio to get the TR, I called them 2 days before I was going to go get it to put insurance on it. They said that it would take 5 days to "process" my application for the TR. I asked them to make an exception, talked to the underwriter, and still no dice. Also, their rate was going to be $1500.00 per year. I then looked in the archives here at 4:45 pm on Thursday (scheduled to leave the house at 6:00 am the next morning to go get the TR....with no insurance at this point), and found that some folks had State Farm. I called my local agent (who had never met me and vice versa) and she quoted $650.00/year and stayed until 5:30 to get it done for me. I called Hagerty back and left a voice mail with the underwriter that I would never do business with them again if this is the way that they treat their customers (especially their loyal ones).
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  13. W00dEar

    W00dEar F1 Rookie

    Feb 24, 2004
    LI, NY
    Full Name:
    That's not really insurance though. I looked into it.
    You set the amount for coverage, if you have a total loss, they pay you the money. What if you have an accident? what if you have a 20k damage to repair, do they pay $20k? I don't think so. It is not the same as the normal insurance policy.
  14. lukek

    lukek Formula 3

    May 2, 2003
    San Francisco
    Full Name:
    The only difference between it and a normal policy is the type of car and the limited use clause. I am living proof that the claim was paid, not far off your cited number, actually. Numbers crunch better for classics vs. exotics, and you cannot have it as your daily driver, but it is a real insurance policy.


  15. twoshort

    twoshort Rookie

    Jan 22, 2004

    I'm interested to know the details of your policy. What are the deductibles and coverage limits. What exactly are you covered for? What are the milage limits etc. I'm an agent (not state farm) in Michigan and I just gotta know why the premium is so cheap...
  16. jm2

    jm2 F1 World Champ
    Lifetime Rossa Owner

    Aug 19, 2002
    Full Name:
    Jerry, i too went with State Farm, and so far have been very satisfied. Because i also have my condo insured w/them the premiums are a bit cheaper.
  17. lukek

    lukek Formula 3

    May 2, 2003
    San Francisco
    Full Name:
    zero deductible, 55K agreed value, I think there is no hard mileage limit, but if they see 12K on the car compared to last year, there might be trouble with the "for pleasure" clause of the policy. I put maybe 2K miles on the car per year. The premium is around $200 a year. I do not know the comp and collision limits, but they were comparable to my regular insurance when I got it. Policy also inlcudes uninsured motorist and towing.
    They bank on the fact that owners of these cars baby them, and incidence of crashes is less than your 20 year old in a Mustang in some bad part of DC.
  18. Smiles

    Smiles Moderator
    Moderator Owner

    Nov 20, 2003
    Pittsburgh, PA
    Full Name:
    Matt F
    I chose Hagerty out of strong recommendations from people who've had some experience. I haven't had to file anything with them, but I've heard great things from those who have. And the price is great!
  19. Adrenln328

    Adrenln328 Formula Junior

    Sep 1, 2003
    Kingston, Wa, USA
    Full Name:
    Good to hear the positive report. As you said, we hear complaints all too often, so it is nice to hear the good news sometimes.
    I also have Hagerty, but have never had to submit a claim. Your message is hopeful if that ever happens.
  20. BoxerCrazy

    BoxerCrazy Formula Junior

    Nov 7, 2002
    Charleston WV
    Full Name:
    Douglas A Hunt
    Its a good thing you guys dont live in WV where the insurance is king!!!

    my rates on a 8 year old toyota landcruiser are simply outrageous(raised twice in as many years)and this with "long term" and "no accidents" discounts applied!!!!! also i am driving a company car 99.9 percent of the time

    when i went to try and get the landcruiser insured by other insurance companies ,no one wanted to write it!!!!(its too expensive,or its rated bad by our code book,what a bunch of crap.....

    i have a 12 year old streetbike(ducati 907ie)and it was also very high for full coverage(almost 800.00 per year)and over 200.00 for liability 2003 honda rubicon 4 wheeler is over 250.00 a year as well..the only decent deal i get is on my boat and thats not that hot either(considering its tucked safe in a carport 9 months a year)

    all this and no speeding tickets or other violations either....
    insurance in my state has got to be the biggest racket ever seen!!!!!

    doug(can ya tell i hate insurance companies)
  21. thecarreaper

    thecarreaper F1 World Champ
    Silver Subscribed

    Sep 30, 2003
    i have had all of my other cars with them since i was 15. my new truck is insured by them now.i have a clean record and they quoted me ( TODAY) $733.02 for 6 months, full coverage, $ 1000.00 deductable. will call hagerty monday as i am looking at a carb 308. the gts had a way higher rating than the had a ( a "50" and a "46" whatever that means) i will post what i get from hagerty, i feel the state farm numbers are too high, i want a low milage limited use policy. i drive my truck daily and only put about 9600 miles a year on it. fcar will be at least half that. i still have 3 other cars to get rid of, so my miles per year should go up some!!!!!!!
  22. Rick328GTS

    Rick328GTS Rookie

    Jan 26, 2004
    New Jersey
    Full Name:
    Been with Hagerty since Feb/04. Truely a wonderful company to work with!
    Very helpful and one of the nicest to talk too on the phone. Would highly recommend them to everybody. They actually quoted me and bound the policy the same day!!

    I did try Leland-West first and was very dissatisfied. They were very rude to my wife when we questioned something about the policy!


  23. zebra308

    zebra308 Formula 3

    Jan 14, 2004
    All Flimmits
    Full Name:
    Ruffis Leekin
    I'm glad to hear possitive things about Hagarty. I just switched to them.

    Policy was better than what I had for my 308 GTBi. I purchased a 328 recently and my old insurance co. refused to cover it for anything but collision. And at a premium of $1300.00. I had the 308 with them for 15 years, never had a claim,and they told me I would have to find other insurance carrier, since they would not renew the 308 in June. What a crock!!!

    Hagarty insured both cars for what I was paying for one!
  24. thecarreaper

    thecarreaper F1 World Champ
    Silver Subscribed

    Sep 30, 2003
    i called and TALKED TO A REAL PERSON!!!! this was on a carb 308gtb. $574.00 A YEAR full coverage, no deductables, extra coverage for medical and uninsured motorists. even if this GTB deal falls through i will use them to insure whatever fcar i finally get ,and any of my classic muscle cars as well!!!! michael
  25. kenster888

    kenster888 Formula Junior

    Nov 3, 2003
    They're not recommended.
  26. CarreraScott

    CarreraScott Formula Junior

    Jan 30, 2004
    Charlottesville, VA
    I insured my 246GT with American Collectors Insurance (through USAA), I pay $423 for the year. Hagerty gave me a slightly higher quote. Sounds like Great American has good rates. I'll prob stick with ACI because USAA (my insurer) recommends and endorses them....
  27. MRyan

    MRyan Karting

    Apr 25, 2004
    Louisville, Colorado
    Full Name:
    Does anyone have any experience with Grundy ( for exotic auto insurance. They are giving me a great quote for 2 cars with no deduct. and no mileage limitations.

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