Insurance Question -

I'd look into Hagerty Insurance. I have two vehicles and the rates are good. Of course, I haven't had a claim yet...

 

Guys I've been with Condon & Skelly (NJ) for near twenty years. Filed one claim. No problems. I believe their underwriters dropped the mileage restriction 'bout four years ago. Worth an inquiry. Keep 'em driving. D

 

RUN from Hagerty as fast as you can. Your asset will not be covered in the event of a total loss.

Hagerty's underwriters have one of the worst "BAD FAITH" claim complaints in the insurance "business".

 

How do you know this - through personal experience or the word of others ?

I insure all of my classics with Hagerty in the UK - never had to claim yet but each car is insured for an agreed value in event of a total loss which I assume is the same in the US ?

If this is correct, are you saying that Hagerty don't honour the agreed values and pay out as per the valuation ?

 

bonjour a tous
pour ma part je suis assure chez AXA
kilométrage illimite en tous risque je peux même utiliser la Ferrari 400 pour aller au travail si je veux
assurance a valeur d'expertise " 27500€ "
je paye 60.50€ par mois ce qui fait 726€ par ans
et bien content car lorsque la Ferrai a été vendalisée tout a été pris en charge sans probl-ème
il y a quand même eu pour une peinture complète cout de la réparation 3850€

amicalement christopher

 

I found Grundy to be 1/2 the price of Hagerty with what I thought were better terms/restrictions. I've no claims, so I can't speak to their service in that event.

 

State Farm insures my Ferrari at an attractive rate. They do ask me to verify mileage and condition from time to time for the agreed value. There are other threads here discussion insurance so dig about a bit.

 

hello all
For my part, I am sure at AXA
Unlimited mileage in any risk I can even use the Ferrari 400 to go to work if I want.
insurance expertise has value "€ 27,500"
I pay € 60.50 per month, which is € 726 per year
and glad because when Ferral was vendalisée in February everything was taken care of without problem
there still had to paint a full cost of repair € 3,850

christopher friendly

 

Hagerty has no mileage limitations on their agreed value policy so I'm not sure how that came up. I use them, no trouble.

 

I know this from personal experience.

My experience is they do not honor "your" agreed value policy. They enforce "theirs".

You will need and expensive lawyer or barrister, maybe your claim will be honored, maybe not.

Sleep with dogs; get flees.

Don't walk,....RUN!

 

I assume you're talking about a total loss, was your claim for the loss of the car through theft or accident/vandal damage etc ? On what basis did they argue that your agreed value wasn't valid ? Was all of your documentation correctly submitted and up to date .

In the UK they require photos, mileage, proof of garaging etc and send you documentation stating the agreed value which I'm pretty sure would hold water if you needed to claim.

Sorry to bug you but it's important for all of us that use Hagerty to understand why you had such a bad experience.

On the flip side, is there anyone out there who's had a good experience claiming through Hagerty for a total loss ?

 

All of my cars have restricted mileage with Hagerty, they don't offer unlimited mileage in the UK and I'm surprised that you say they do in the US.

When i asked about unlimited mileage on a car I was considering buying they said it wasn't possible - the reasoning is that it deters everyday use of the car and keeps them as occasional cherished "hobby" cars which is why their premiums are so good.

Have you ever claimed for any reason ?

 

There was no mention of mileage limits on my Hagerty policy but they do require that it be in locked storage or garage and you have at least one other car as a "regular use" car.

Here is the language from the policy on that:

"REGULAR USE VEHICLE REQUIREMENT

This policy provides coverage for your "antique
vehicle" and/or "classic vehicle" shown in the
Declarations. You must own a "regular use
vehicle" which must be insured by a separate
insurance policy which must be in effect for the
entire time this policy is in effect. In no event will
this policy serve as your only auto coverage."

The other use restrictions are pretty much what you would expect on any auto policy: no commercial use or charging fees to transport people, no racing, no illegal uses, etc.

There are no mileage restrictions and the definition of an "Antique" or "Classic" car is shown as:

"Classic vehicle" means a motor vehicle of
unique or rare design and of limited
production that is an object of curiosity and:

1. Is maintained primarily for use in car
club activities, exhibitions, parades,
other functions of public interest or for a
private collection; and

2. Is used only infrequently for other
purposes."

I suppose that the main area of potential dispute is over what constitutes "infrequently" but to me this is pretty tenuous and you conceivably could do the California Mille, the New England 1000, The Colorado Grand and several other high mileage activities in a year and not run afoul of either the use in car club activities or functions of public interest and not even the infrequent other purposes clause.

 

Had a $5,000 claim with Hagerty on another car I own. They didn't even send out an adjuster. They asked for pictures and wrote me a check. ZERO troubles!

 

Having insured many different collector cars for over 50 years I have had several different companies in that time.

We recently had our business insurance carrier gobbled up by Chubb. With this change we were provided a new insurance advisor by Chubb. This process does not try to sell you any particular insurance but rather gets quotes from a number if different providers which allows the insured to make a better informed decision. This starts with a several page insurance audit, asking questions regarding use, loss, matainence, driving records and ages of drivers, then a visit to the location of the car barn looking for alarm systems, sprinklers, location of nearest hydrant, general condition of the building inside and out. They also wanted current photos of all cars.

We insure some 30 collector cars from 1905 to a 2010 Mercedes slk and including vintage Indy race cars, several Ferrari's, a newer Corvette. Our package was sent to 17 different collector insurance companies. Some did not want to quote others had severe restrictions. We had been insured with Hagery for nearly 10 years with no losses, prior to that we were with Grundy for a number of years with no loss history. We had dropped Grundy due to excessivley higher rates.

After recieving all quotes our insurance advisor reviewed and advised on coverages, restirctions, claims pay out ratios, and of course rates. We settled on JC Taylor. They provided the best overall coverages for our diverse collection of vehicles, with the least amount of restrictions and very important the best claims payout of all major carriers.

I reccomend at the very least engaging an independent insurance auditor to help you get through the maze of ultra fine print insurance companies are known for. These professionals operate independently of any insurance company and work for you.

Overall we saved nearly $2000 annually changing from Hagerty to JC Tayloron our collector cars. This auditor also did the same audit process for our Subaru stores, and we saved a considerable amount of money by spending the time going through the insurance audit, and giving the underwriters up to date information regarding our business activities.

Just sayin'

Howard Musolf

 

Simply stated, Howard's broker shopped his insurance for him. If everyone did that, useless threads with tons of misinformation like this one would be unnecessary. Accept all other advice offered in this thread at your own peril.

 

"All", "None", "Always" and "Never" are almost always false.

 

All insurance buyers in TX should never rely on coverage advice from someone relating his experiences in purchasing an auto policy in CT or any other state or country for that matter. None of the advice on policy terms, limits or premium pricing will be accurate, as the risk to the insurer is always different in one state than it is in another state due to many factors.

 

Oh boy here we go again.......

 

Cute, but that is why I said that those words were "almost" always false.

That may be true when you get down to the final purchase decision but the overall information can alert buyers as to what to look out for.

Just as no one should buy a Ferrari based solely on the information provided from FChatters, no one should buy insurance based solely on the same source. When people ask FChatters "Should I buy a 360 or a 430?" the FChatters can help explain the difference but the person asking question ultimately must investigate, drive and do his or her own due diligence.

That is a given and it is just common sense. Maybe everyone answering questions should be required to put in disclaimer language about all of the risk factors and limitations of their personal small sample experience and geographic characteristics but that is basically like "Your mileage may vary".

It's general guidance, nothing more, nothing less.

 

I think that disclaimer is on the page when you register (but not positive). However, there are some extremely knowledgable people here that I would trust (Brian Crall for one)...you do have to scrutinize a bit Hey...I think you're pretty knowledgable too, John. Dave's not bad either. (maybe not gospel but pretty knowledgable indeed )