Well I'm a happier man right now I just went down and got some Hagerty auto insurance so I pretty stoked on that instead of having it through AAA at $35,000 i've got $60,000 through Hagerty
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Auto insurance
- Thread starter racer-ex
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Could you expand on that? I'm assuming you're talking about a declared value with Hagerty instead of "market value" from AAA.
What's the difference in coverage and cost? I have USAA, which is a great company, but I'm sure they're greatly under-valuing my car, so I'd be interested in details.
What's the difference in coverage and cost? I have USAA, which is a great company, but I'm sure they're greatly under-valuing my car, so I'd be interested in details.
Quicksilver 55 it was very surprising to me that AAA insured my car for $35,000 and charge me approximately $1,000 where as Hagerty ensures my car for $60,000 and charges Me basically the same $1,105
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One more thing Hagerty is now partnered with AAA so you can go to AAA office and get Hagerty insurance
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One more thing Hagerty is now partnered with AAA so you can go to AAA office and get Hagerty insurance
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Racer is $1,105 annually? In Michigan most insurance premiums are 6 months.
Yeah that's upfront I was surprised too but that's how it is
This has been covered 100's of times before. You should,have checked with Grundy first. Their rates are lower and they have fewer restrictions.
Wow....Just did online quote. $316 / year for $60k agreed value. Currently paying over $1000 / year for market value with Farmers.
Strange thing is that premium is $316/year if coverage effective date is in 12/2014. If I want coverage to start in 10/2014, premium changed to $709/year.
Strange thing is that premium is $316/year if coverage effective date is in 12/2014. If I want coverage to start in 10/2014, premium changed to $709/year.
Well I'm giving it a second thought I'm going to look into Grundy ins. and others to see if I can get a better deal Hagerty is not a good deal
Don't do the online quote, it isn't accurate. Call them up and get the policy you want. Trust me, they are one of the best. They paid me agreed value on my NSX when it was totaled last year, no questions asked.
However, once Grundy does a payout on a totaled car they won't insure you again. When I bought my 2004 Lotus Esprit, Hagerty wanted $1,200/yr, $500 deductible, 2,500 max miles, and a few other ridiculous restrictions. I ended up getting American Collector Insurance through USAA for $840/yr, but I have a 3,500mi limit. I can live with that for now and in a few years I'm going to try to get back with Grundy.
However, once Grundy does a payout on a totaled car they won't insure you again. When I bought my 2004 Lotus Esprit, Hagerty wanted $1,200/yr, $500 deductible, 2,500 max miles, and a few other ridiculous restrictions. I ended up getting American Collector Insurance through USAA for $840/yr, but I have a 3,500mi limit. I can live with that for now and in a few years I'm going to try to get back with Grundy.
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Thanks doc, good information I will look into that. I'm calling Grundy today...Bill
Just curious why you guys would go with specialty insurance companies instead of "mainstream" places like State Farm?
I'm not sure general insurance companies offer coverage on "collector" or "classic" vehicles like some of the companies mentioned above. Do they?
For the same reason why you go to to a heart surgeon for a bypass surgery and not your general physician. I want to deal with an insurance company that knows why my car is not the same as your average car. Plus, these specialty insurance companies usually don't give you a problem when you have a claim.
I totaled my NSX during an HPDE and Liberty Mutual paid, using the value of a very similar car as advertised at a nearby Acura dealer. I have to think they are among the best of the "regular" insurance companies.
Here's number 101. Three questions to the Primers if you don't mind:
1) Has anyone here had both Grundy & Hagerty or compared each thoroughly? Can you chime in on your opinion of one vs. the other as far as cost, service, and any major differences in usage restrictions? I'm asking here just to save me the aggravation of calling for two quotes then being pestered for 6 months if I don't follow up on one or both.
2) For anyone who's had either of them: Have you found any of those types of collector coverages with "full" replacement value to cost anywhere less than $750/year for your particular situation & car?
3) Related to question 2, do you know if any of those types of collector coverages offer an option to decrease coverage during winter months (like the PA seasonal registration) in order to save some $$?
I have had "regular" coverage thru Penn National since 2013 that's around $770/year. They use NADA for estimating value in case of a loss, and now that I'm using the PA state "seasonal registration," my annual cost should decrease to around $470 when I shut off most of the coverage from Nov 1 - April 1. However like all of us believe, our cars have increased in value well beyond NADA...and I'm finding I just don't use my NSX as frequently as my regular insurance would allow - I'm basically using it for joyrides and infrequent cars/n/coffee type things so I am paying for freedom I don't need while under-valuing my NSX just in case of any loss. Never drive to work, never to Home Depot, etc.
Thanks for any who chime in. What would a month be if there wasn't at least one resurrected NSX insurance thread.
PS same question goes to any other collector car insurance provider than Hagerty or Grundy...
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Here's number 101. Three questions to the Primers if you don't mind:
1) Has anyone here had both Grundy & Hagerty or compared each thoroughly? Can you chime in on your opinion of one vs. the other as far as cost, service, and any major differences in usage restrictions? I'm asking here just to save me the aggravation of calling for two quotes then being pestered for 6 months if I don't follow up on one or both.
2) For anyone who's had either of them: Have you found any of those types of collector coverages with "full" replacement value to cost anywhere less than $750/year for your particular situation & car?
3) Related to question 2, do you know if any of those types of collector coverages offer an option to decrease coverage during winter months (like the PA seasonal registration) in order to save some $$?
I have had "regular" coverage thru Penn National since 2013 that's around $770/year. They use NADA for estimating value in case of a loss, and now that I'm using the PA state "seasonal registration," my annual cost should decrease to around $470 when I shut off most of the coverage from Nov 1 - April 1. However like all of us believe, our cars have increased in value well beyond NADA...and I'm finding I just don't use my NSX as frequently as my regular insurance would allow - I'm basically using it for joyrides and infrequent cars/n/coffee type things so I am paying for freedom I don't need while under-valuing my NSX just in case of any loss. Never drive to work, never to Home Depot, etc.
Thanks for any who chime in. What would a month be if there wasn't at least one resurrected NSX insurance thread.
PS same question goes to any other collector car insurance provider than Hagerty or Grundy...
I had my NSX insured with Grundy and they paid me full insured value when it was totaled.
When I got my Lotus, Grundy wouldn't insure me at first so I used Hagerty. They were more expensive and had many more restrictions. I then called USAA who I used for my three other cars and they wanted $2,500/yr. I asked if they had collector car insurance and they said yes.ccit was through American Collector Insurance. The rate was better than Hagerty, not as good as Grundy, and they had a lot of restrictions. I was finally able to get insured with Grundy again and I'm very happy. They allow for more use of the car, and are less restrictive. There is nothing stopping you from going to Home Depot on your way home from a car meet. I wouldn't want to drive my car to a big box store anyway, so it's really no deal breaker for me.
Hope this helps, again.
Ha ha, thanks I read your earlier post on that but above but I'm looking for specific answers to my questions 2 & 3 which are more in regards to price.
I recently received an unofficial quote for Hagerty thru an agent with whom I was discussing my homeowner's & rental property insurance. His ballpark number was around $1050/annual from Hagerty for my '93. I'm comparing that to $470/yr if I stick with my current standard insurance and use PA's seasonal registration with its zero restrictions but way less replacement coverage....
I know life's full of tradeoffs and you have to pay to play, but I'm just trying to find out if anyone's found insurance with proper market/replacement values but costing less than around $750/year... Paying 2.5x what I currently pay just to have better replacement coverage (for something I never hope to use) while being denied flexibility for things I do want to use, like going on 3-day weekend trips out of state or occasionally driving it to work on a nice spring or fall day, requires some definite thought...
YES. For my NSX it cost $451/yr with full coverage, $0.00 Deductible. For my Lotus I pay $650/yr, $0.00 deductible.
I wouldn't know as the weather in Florida allows me to drive my cars 12mo's a year. However, at $400-$500 per year how much would you save?
Hope this helps this time around.
I asked a reputable specialty insurance company three or 4 questions about driving scenarios (what if...) based on how I use my car (and got 75% not covered) so I ended up choosing "regular insurance". USAA (actually State Fram) made me whole when their driver totalled my NSX.
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YES. For my NSX it cost $451/yr with full coverage, $0.00 Deductible. For my Lotus I pay $650/yr, $0.00 deductible.
I wouldn't know as the weather in Florida allows me to drive my cars 12mo's a year. However, at $400-$500 per year how much would you save?
Hope this helps this time around.
$451 with Grundy for year round? Holy crap. Do they let to drive it more than 100 miles a year?
Guess who I'll be calling Tue for a quote. I thought I remember reading a restriction with them that seemed too hard to deal with, at least for me, but we'll see. If I find something around $450/year with ample coverage for my '93 whose restrictions aren't too much joy-kill, I won't be worrying about seasonal registration one bit...may even go all out and roll up a $5 bill to light up a stogie to celebrate the improved coverage and some savings.
Thanks Doc
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mine is hagerty 1700 a year for 3k miles. Maybe Hawaii is more money or something, it's a painful bill to pay every August
$451 with Grundy for year round? Holy crap. Do they let to drive it more than 100 miles a year?
If I find something around $450/year with ample coverage for my '93 whose restrictions aren't too much joy-kill, I won't be worrying about seasonal registration one bit...may even go all out and roll up a $5 bill for a stogie and light up a stogie to celebrate the improved coverage and some savings.
Thanks Doc
Grundy does not have a mileage limitation, and that is why I wanted to get back with them for my Lotus. When I had Hagerty, I was limited to 2500 miles a year, and the the premium was $1,200. With American Collector Insurance I had 3000 miles a year for $850. I also live in one of the most expensive Counties in the USofA for all insurance, even my Malpractice insurance is higher than what it would be in NYC for example.
Everyone seems to be getting their panties all bunched up about where you can drive your car, and how many miles you can drive. The reason for collector car insurance is to insure your car for when you will be driving it. If it is going to be used for anything other than the occasional pleasure drive then it may not be worth it. However, you will be able to drive the car to NSXPO if it is 2000 miles away from you iff that is your desire.
Today I drove my Lotus for lunch which was a 60 mile round trip. There is nothing stopping you for using the car for pleasure. Just enjoy the car and have it properly insured. I also have an additional 1mil/2mil Umbrella Policy in case I get hit by an uninsured or underinsured driver.
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I had Hagerty for about 3 years, now Grundy for the past year. I want to say with Grundy I have a $0 deductible and a $60k policy for $750/year. They required documentation and pictures for the appraisal.
At the time, Hagerty had no mileage limitations (like Grundy), and "occasional use only" restrictions for both. Hagerty was about $250 more per year....
Hasn't really mattered since I've put about 500 miles on my car the past four years anyways :frown:
Dave
At the time, Hagerty had no mileage limitations (like Grundy), and "occasional use only" restrictions for both. Hagerty was about $250 more per year....
Hasn't really mattered since I've put about 500 miles on my car the past four years anyways :frown:
Dave
As I recall, specialty insurance would not cover:
1) if my daily driver was in the shop and I had to drive my car to work
2) Stopping at Home Depot after going to AutoZone
3) Dropping by my car buddy's garage on a Sunday drive
1) if my daily driver was in the shop and I had to drive my car to work
2) Stopping at Home Depot after going to AutoZone
3) Dropping by my car buddy's garage on a Sunday drive
Yes, that is a restriction, and it did not affect me as I have other vehicles to use. Your situation may differ.
I was told if it wasn't a regular occurrence that I could make a short stop on my way home. Once again, I don't like to drive my nice cars there anyway, so it doesn't affect me.
Yes you can, I asked the same question and they told me that as long as it wasn't for business or an errand that I could make a stop to eat or visit a friends house.
Once again, interpretation of the restrictions is up to the policy holder, but if you don't think that you can abide to the major restrictions, then collector car insurance isn't for you.
Most of these insurance companies know that we use our cars outside the defined restrictions because they are newer and more reliable. They just want to make you aware of the risks. Now, if you had a Ford Model T it wouldn't even be a concern.
