Ronnie Posted July 13, 2010 Share Posted July 13, 2010 My local insurance agent, who currently insures my Reatta (as a daily driver), is recommending that I go with Hagerty Insurance so I can get classic car rates. My agent would handle all the paperwork and would be my first contact if I have a claim but Hagerty would ultimately be responsible for paying the claim. The Hagerty premium is very reasonable and there is no ($0) deductible which I like. The insurance is for what he called a "guaranteed value" policy for a set amount. Is that good? I would like to hear your opinions and experiences with Hagerty before I make a decision to sign up with them.Also, the agent asked me what amount I wanted to insure the car for. He said the minimum amount they would insure is $5000. I have an '88 model that is in really good condition but it has 109k on the odometer. Any ideas what amount I should insure it for?Any comments are welcomed and appreciated. Link to comment Share on other sites More sharing options...
Labrat Posted July 14, 2010 Share Posted July 14, 2010 I have Hagerty Ins. on my Reatta and '59 Vette. Hagerty requires all insured cars be garaged and a car for each licensed driver in the family excluding the cars they insure. I have my low mileage '91 insured for $12K. The Vette considerably more of course. Labrat Link to comment Share on other sites More sharing options...
padgett Posted July 14, 2010 Share Posted July 14, 2010 I have had JC Taylor for little driven cars for years and am happy. Does require a secured garage but generally there is no limitation on driving occasionally. I do have three other cars and an RV with Geico.Suspect Hagerty is similar though they do seem to spend more on commercials. Link to comment Share on other sites More sharing options...
Bushwack Posted July 14, 2010 Share Posted July 14, 2010 I have my Reatta, Z28 and '79 Trans Am with Safeco ('69 T/A is included with a packaged policy with Lloyd's). Safeco allows to insure for a stated value on the cars. They do require interior/exterior pictures of each car annually, you must have a car that is a daily driver and the car can't be driven beyond 2,500 miles annually (you can increase that to 5,000 miles for a nominal fee). Link to comment Share on other sites More sharing options...
Ronnie Posted July 14, 2010 Author Share Posted July 14, 2010 Hagerty's policy is for a "guaranteed value". Is that the same as a "stated value" or "agreed value"?Thanks for all the replies. I was hoping to hear from someone who had filed a claim with Hagerty. Link to comment Share on other sites More sharing options...
Bill Stoneberg Posted July 14, 2010 Share Posted July 14, 2010 I have filed a claim with Hagerty and was quite happy with the transaction. They sent an adjuster out and determined what needed to be repaired. They took the prices for the parts I had to find and added that in. It was close to the agreed upon value of the car but I had no issues with them wanting to total the car.Another item, is the Hagerty Road Club, I had one trip where I used the 4 times for tow trucks and each time it was good. You get that with your policy too.Been with Hagerty 10 years, have 3 cars insured and have filed a claim. I will keep using them. Link to comment Share on other sites More sharing options...
Ronnie Posted July 14, 2010 Author Share Posted July 14, 2010 Thanks Bill. That makes me feel better about having them insure my Reatta. Link to comment Share on other sites More sharing options...
Guest re-reatta Posted July 15, 2010 Share Posted July 15, 2010 I have Grundy for my '90 coupe. Unlimited mileage costs $138.00 a year for agreed value of $7500.00. Link to comment Share on other sites More sharing options...
Guest dmaugus Posted July 16, 2010 Share Posted July 16, 2010 I'm curious as to how to arrive at an "agreed value" with Hagerty. Does the car need to be appraised? Link to comment Share on other sites More sharing options...
Ronnie Posted July 16, 2010 Author Share Posted July 16, 2010 I'm curious as to how to arrive at an "agreed value" with Hagerty. Does the car need to be appraised?My insurance agent gave me a Hagerty application that had a box to enter the value of the car. I used the "High Retail" value from the NADA website for my car. That is what my agent recommended. I was happy with the values NADA shows for my car. It might be wise to get an appraisal if you have a show car quality vehicle. My insurance agent took photos of the inside, outside, trunk and under the hood. He sent the application and photos to Hagerty. He said I should hear from them in 3 to 14 days. Will wait and see what happens next. Link to comment Share on other sites More sharing options...
Guest dmaugus Posted July 16, 2010 Share Posted July 16, 2010 Thanks for the response Ronnie. That's what I needed to know!Keep us informed as to what you hear from Hagerty. Link to comment Share on other sites More sharing options...
Ronnie Posted July 16, 2010 Author Share Posted July 16, 2010 I received an email today from Hagerty insurance telling me I have been approved for coverage. The email directed me their webpage where I was able to download a copy of the policy declaration pages and the policy. They also directed me to contact my local insurance agent if I have questions about my coverage. At least I can talk to someone locally if I need to.I hope they will be as fast to pay a claim, (if I ever need it), as they were to accept my payment. Link to comment Share on other sites More sharing options...
Guest Mc_Reatta Posted July 17, 2010 Share Posted July 17, 2010 Pinch yourself Ronnie, think your dreaming about a quick payment from an insurance company. Link to comment Share on other sites More sharing options...
rjfranken Posted July 18, 2010 Share Posted July 18, 2010 Thanks Ronnie for starting this.I have 3, I drive, not at the same time. I need to supply Ins. to tag them but I only drive 1 for a period of time whilst I work on the others. Any thoughts on saving money??? Link to comment Share on other sites More sharing options...
Ronnie Posted July 18, 2010 Author Share Posted July 18, 2010 Thanks Ronnie for starting this.I have 3, I drive, not at the same time. I need to supply Ins. to tag them but I only drive 1 for a period of time whilst I work on the others. Any thoughts on saving money???I don't think Hagerty is the coverage you need since, if I understand you correctly, you use one car as your daily driver. Here is the restrictions I remember for Hagerty's insurance.Each licensed driver in your home must have an insured daily driver vehicle.The "classic car" you are insuring cannot be your main source of transportation.The car you are insuring cannot be driven over 2500 miles per year.The car you are insuring must be stored in a garage. Link to comment Share on other sites More sharing options...
Guest mhuffy Posted July 18, 2010 Share Posted July 18, 2010 Thanks Ronnie for starting this.I have 3, I drive, not at the same time. I need to supply Ins. to tag them but I only drive 1 for a period of time whilst I work on the others. Any thoughts on saving money???I have had Nationwide Insurance for 25 years. My agent tells me to add and delete coverage as I need. While sitting in my garage, I only keep a minimal comprehensive coverage. When I was planning on going to Iowa, I added the collision and liability, etc. I didn't go and canceled the coverage. This was all at his suggestion. He had me go to a specific shop to have my car appraised and some pictures taken in case there ever was a claim. I can even add and delete coverage myself online if I need to make a last minute change on the weekend or something.I considered looking into the other types of coverages, but there are a lot of restrictions that I didn't want to deal with. Doing it this way was a few dollars more than that, but significantly less than keeping full coverage all the time.May not be for everyone, but seems to work for me. Hope this helps. Link to comment Share on other sites More sharing options...
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