Insurance in NJ

Yes, I have searched FChat.
I did get a lot of information and opinions on various insurance companies from the search.
I am currently with Hagerty, coming up on my 3rd year with them, if I renew.
I have a 1990 Mondial T Cabriolet.
Agreed value of 30K. (Undervalued in my opinion, but that is market value now).
Max liability available.
Unlimited miles per year.
Not restricted to traveling to events or shows.
Not a DD.
My policy is coming up for renewal and it will increase by almost 14%.
I called Hagerty and they indicated NJ as well as Texas (maybe other states too) have got overall increases, and...get this...it's because of Hurricane Sandy! Or so they say.

So, while I have never had a claim, I am curious to hear what my fellow NJers experience has been with actual claims and the responses from their insurance companies.
The search has indicated a general consensus that Hagerty and Grundy pretty much honor the claims. How about other companies?? Any issues?

I am not looking simply to save some money, I am looking for insurance that will deliver when it needs to do so.

Thoughts????

Thanks in advance for any insights.

DavidJ

 

I have Grundy....and an agreed value of $80K. My premiums went up too....just renewed this weekend...Live in SFlorida.

 

I use Chubb. Expensive but never gave me a hassle. No restrictions in driving.

Thanks,
Erik

 

I use leyland west- great service and price

 

David

I had Hagerty for the first 5 years and after seeing steady premium increases similar to yours, I switched to Condon Skelly last year for about 50% of my Hagerty premium. However a friend looked to put his Maserati with them and discovered that they ONLY intend to cover driving to/from car event, and NO regular use. I think this year I will look at Grundy which seems to have more inclusive coverage. I ll also follow this thread and post again if I learn something new.

 

I live in NJ and checked them all out. Hagerty and Grundy were the most expensive. Chubb was a little more than Leyland West but not much. Skelly was as you pointed out not acceptable because they only insure you to show your car at events. I decided to go with Leyland West and have been satisfied with them

 

I'll add the part that goes beyond the price, as I unfortunately had to "test" the insurance. Years ago a deer jumped in front of my 964- yes technically I hit it but it really committed suicide as it waited until my car was right there! Anyway, the car was all original- Leyland (or Modern Home Insurance, which is the underlying insurance co) had no issues or questions with me taking it to Paul Miller Porsche auto body, and using all new OEM parts (I wouldn't have repaired it any other way- while the car was at the time about 15 years old it had only ~25K miles and was mint). The check arrived for the repairs very fast. I've heard that hitting a deer doesn't affect your insurance rates, but I will note that the following year my premium went DOWN, so maybe there is truth to that.

Anyway, just thought I'd share my positive experience. I've been with Leyland for well over a decade now for my weekend toys...they are always polite, prompt and there prices for the agreed valuation coverage, and miles (I have 3K/year policy, but I think you can also get a 6K/year policy) are competitive. Like probably all of the collector policies, you need to have a daily driver car for each licensed driver in the household, keep the cars in a garage, etc etc...

 

Have been with Leyland West for a number of years with different cars and have been very satisfied but fortunately have not had to test the policy. Good to know they take care of business properly.

 

Thanks for the info, guys.

I priced out Grundy when I got the car in 2012. They were higher than Hagerty.
I actually got Hagerty through my Allstate broker. I got a quote directly from Hagerty and it was higher than going through Allstate!
I checked a few other insurers in 2012 and Hagerty was the lowest for the coverage at the time. It has increased each year however.

I am seriously looking into Leland West. Similar coverage and a higher agreed value was over $500 less than Hagerty this year.

I will probably look at at least one other before making a decision.

I'll fill you in when I make a decision.

DavidJ

 

So after a few weeks of calling a bunch of insurance companies, I am sticking with Hagerity.
Why? I have a bundle deal through Allstate that includes my condo (co-op actually), all of my other cars (3), the Hagerty policy for the Ferrari, and a 1 million dollar umbrella policy.
There are other issues that are unique to my situation. If you want more info, PM me and I will fill you in.

I have been told that Geico is the least cost, if you are approved. I didn't call them however.

High insurance costs for the Ferrari is just "the cost of doing business" when you are in this arena.
If you play with the big dogs, you pay the big dog price.

When you look at the $$ I have put into this car, the insurance is the least of it.

DavidJ