Hagerty vs American collectors insurance...? questions

[MiamiZ3MC]

I know a few of you have gone this route for agreed value coverage. I have been looking into this.

my input is that American Collector is a less expensive for the same coverage....but i do have a friend that has Hagerty for his collector. filed a claim and has had good results working with them .... with that thought i have moved forward with American Collectors...

the application is in underwriting now. Beyond the original questionaire about mileage per year, garage kept, other cars etc...

They seem to have ALOT of questions about the "collectability" of these cars...asking for production numbers, pictures, reasons for collecting, history of other collectors cars own... etc etc etc....

my question is: has everyone else had this issue and its a normal speed bump for coverage? or do I have a newbie in underwriting.... all my reading here is that people called up and got coverage....


thanks

B!

[cleanerPA]

I know your question is about American Collectors, but did Hagerty actually accept to write you a policy?

Hagerty would not write me a policy for a few reasons- said the M Coupe was not a collector car, nor did it qualify as an "exotic." But they would write the Corvette, go figure.

I have American Modern as my insurer, through Leland-West. They asked me a ton of questions and I had to include photographs of the cars from four views as well as the garage. So I think it's relatively normal to have these questions asked of you.

If you don't mind me asking, what did you choose as the value for your car? I need to increase my insurance this year, it doesn't reflect the market these days.

[rlgMcoupe]

tagging along...

I got a quote from Hagerty that seems awesome for 3 vehicles but haven't moved forward yet.

[Jamesons Viggen]

I went with Grundy. They were about 40% less than Hagerty.

I had to provide pictures and my modification list. They did not give me a hard time.

[Tazmanian Devil]

I use Classic Collectors and all I had to do was list my mods and send in pics of entire car. They give me 6,000 miles a year for driving, but it can't be used as a grocery getter.

I am very happy with them and have had no problems. They include towing also. Under $300 a year

[Z3speed4me]

Question for anyone that may know...

New residence does not have a "structured" garage... I have the coupe in a "portable" (build-able per say) garage, would that probably wipe me off the list of having the option to cover the car under any of these companies?

[MiamiZ3MC]

Question for anyone that may know...

New residence does not have a "structured" garage... I have the coupe in a "portable" (build-able per say) garage, would that probably wipe me off the list of having the option to cover the car under any of these companies?

I believe the questions asked was...is it stored in a "lockable Garage"..... don't think that would count you out

[Jamesons Viggen]

Question for anyone that may know...

New residence does not have a "structured" garage... I have the coupe in a "portable" (build-able per say) garage, would that probably wipe me off the list of having the option to cover the car under any of these companies?

Might be. They say they want lockable and secured. Your setup looks like a tent which would be fine unless the car was stolen from it and then they would say your SOOL.

[Z3speed4me]

Might be. They say they want lockable and secured. Your setup looks like a tent which would be fine unless the car was stolen from it and then they would say your SOOL.

Well then it was stolen somewhere else lol.... I am not getting coverage for theft though, rather for the GOD FORBID instance that she gets hit and "totaled" I can get my money back and make another one.

[mpire]

I know your question is about American Collectors, but did Hagerty actually accept to write you a policy?

Hagerty would not write me a policy for a few reasons- said the M Coupe was not a collector car, nor did it qualify as an "exotic." But they would write the Corvette, go figure.

I have American Modern as my insurer, through Leland-West. They asked me a ton of questions and I had to include photographs of the cars from four views as well as the garage. So I think it's relatively normal to have these questions asked of you.

If you don't mind me asking, what did you choose as the value for your car? I need to increase my insurance this year, it doesn't reflect the market these days.

Strange.

Hagerty is insuring both of my cars.

EB for $50K
SG for $25K

They didn't have a problem listing them as exotics.

[markiemark]

I have Grundy for both my Z's (Z3M and Z06). No issues and no mileage restrictions.... $825 for both with a combined $75000 worth of coverage!!!

[cleanerPA]

Hagerty is weird and inconsistent- they insured my friend's VW Rabbits and all kinds of other stuff for him but they wouldn't write me a policy.

I think I need to increase my insurance a tad- maybe $20k or 22k for the M Coupe?

BTW, I don't think you will be able to make a claim if you have a non-permanent, secure, locked garage.

[mpire]

I pay the whole year in advance for the Coupes.

They are not really daily drivers, but then again, I don't really drive all that much.

I work from home, and I drive the pickup to home depot, so the EB is getting something like 500 miles a year now and the SG is racking them up. Almost 3K a year!

[KingCoupe]

Go with American Collectors Ins. I experienced no hassles in underwriting my policy over the phone at agreed value of $50K. Only stipulation is that the car must be stored in a locked secure garage. Limited use -6k miles/year and not be used as your DD (can't be driven to work, the store, the bank, dry cleaners, etc.)

[Jamesons Viggen]

Hagerty is weird and inconsistent- they insured my friend's VW Rabbits and all kinds of other stuff for him but they wouldn't write me a policy.

I think I need to increase my insurance a tad- maybe $20k or 22k for the M Coupe?

BTW, I don't think you will be able to make a claim if you have a non-permanent, secure, locked garage.

$22k is a bit light for what I would insure an S54 coupe for.

[MiamiZ3MC]

I know your question is about American Collectors, but did Hagerty actually accept to write you a policy?

If you don't mind me asking, what did you choose as the value for your car? I need to increase my insurance this year, it doesn't reflect the market these days.

I have not gotten to underwritting with Hagerty, waiting to see what amer. Colectors does. I guess as everyone has or will find out, just because you can get a quote off their website or phone doesn't mean they will cover you!

I am asking for $30k 3000 miles a year.....

Go with American Collectors Ins. I experienced no hassles in underwriting my policy over the phone at agreed value of $50K. Only stipulation is that the car must be stored in a locked secure garage. Limited use -6k miles/year and not be used as your DD (can't be driven to work, the store, the bank, dry cleaners, etc.)

Justwaiting for underwriting, guess this step is normal i see

$22k is a bit light for what I would insure an S54 coupe for.

I agree, all should be higher s52 or S54 maybe we should all be insuring for the Cartel price of $60k! Might be the only way to get there!!!

[cleanerPA]

$22k is a bit light for what I would insure an S54 coupe for.

What do you think is a reasonable amount to insure a 97k, mostly stock '01 M Coupe for?

I just want to get replacement value out of the car, but I probably should put a tad more aside because it's hard to find a nice M Coupe.

Same thing with the C6- I'll probably up the insurance to $35k just to make sure.

[rlgMcoupe]

I am thinking I will do $25K for S52 Coupe and $25K for 69' 2002 (completely restored). Do you guys think that is about right? Also, this is the first time I have been able to have a moto on same policy as car. Thinking about putting my Ducati on there at $15K. Sure would make things easier to only deal with one company annually.

[Jamesons Viggen]

What do you think is a reasonable amount to insure a 97k, mostly stock '01 M Coupe for?

I just want to get replacement value out of the car, but I probably should put a tad more aside because it's hard to find a nice M Coupe.

Same thing with the C6- I'll probably up the insurance to $35k just to make sure.

1, I insure a value for what the car would take to replace and a bit more. Say it happens in 2-3 years, S54 coupes might be even more scarce. So say today the car would take $20k to replace, I would insure it for $28k

2, the other factor is, if I get XXXX amount of dollars, would that be enough to buy a car that makes me equally happy. See, if I didn't want another boosted M, what would it take to get me another car I could love. I would want a boosted Elise, a Viper, a C6 Z06. Cars like that. So I insured mine for $30k knowing I could at least get in spitting distance of cars I would enjoy.

[SamGrant951]

Will American Collectors insure just the M Coupe? (Grundy would not insure just the Coupe- they wanted to write a policy for all my cars)

Hargerty wanted well over 500 for a 25k policy on the 02 M Coupe, whereas I pay 220 for 25k on my 951 (antique policy through Farm Bureau)...undecided on what to do.

[drdre0728]

Hmmmmmm do they check the speedometer yearly -_- ? I think i just heard it being unplugged lol.

[mpire]

I have had hagerty for 2 years.

They want you to have another car to drive so you aren't daily driving the car they are insuring.

Other than that, it seems to be just a regular policy.

[Z3speed4me]

I have a pending agreement for coverage on the coupe for $40k, they are waiting on my "garage" pictures to approve or deny me.

[Jamesons Viggen]

I have a pending agreement for coverage on the coupe for $40k, they are waiting on my "garage" pictures to approve or deny me.

Grundy asked for no pictures of my garage, just pics of the car.

[Z3speed4me]

I spoke to them and American Collectors yesterday, both wanted to see picture of where the car was being kept with the car in the storage unit and then a few other photos of the vehicle itself.