insurance help

sodapop · #1 (**permalink**) 04-24-2003, 09:44 PM

Hey anybody been having problems with Haggerty. First they raise the rate 60% now they inform me they are canceling my policy after 4 years. No claims and 1 ticket almost 3 years ago. now they say they will reinsure but raise the rate again and drop the total insured value by 25,000 and raise the deductable. Anyone got a better deal with a good insurance company? Haggerty isnt what it used to be. I am insuring a Kirkham car if it matters Haggerty says it matters.

Bud Man · #2 (**permalink**) 04-25-2003, 07:13 AM

I insured my Kirkham for agreed upon value with Voyager Insurance.

Tried almost everyone else, but they were either not insuring Cobras anymore or would not agree to the coverage I wanted.

972.712.8000 Ask for Craig Price.

Bud

Jahred · #3 (**permalink**) 04-28-2003, 07:47 PM

OK, most people will probably think this is dumb....but I have always hated insurance so I self insure whenever I have the chance.......my driving record is well......less than perfect.....I just carry state minimum liability insurance.......Progressive just renewed my insurance on the cobra for $84.00 (second car discount)....I pass that along to anyone who might find that arrangement attractive.......I figure I cant floor this sucker anyway!

klayfish · #4 (**permalink**) 04-29-2003, 05:22 AM

Jahred, I sincerly hope you never cause a serious accident. You may wind up regretting that decision.

Steve

Roscoe · #5 (**permalink**) 04-29-2003, 07:26 AM

From an earlier thread :

I just told Hagerty to pack it up their exhaust pipe. I was paying 506.00 per year and they wanted 700.00 for the renewal.

Today I recieved my new policy from American Collectors Insurance. Similar coverage, 250 deductable, 2500 miles limit (but can be increased after one year.) Premium is 203.36!

http://www.americancollectorsins.com

(856) 779-7212
They are in Cherry Hill, NJ

Roscoe

__________________

Lynn Johnson · #6 (**permalink**) 05-08-2003, 06:21 PM

Insurance Shopping. Buying Superformance next week. Live in Florida.

Got an online quote today from Hagerty for $1133 p/yr.

Anyone got any suggestions on companies that write in Florida.

Thanks

Lynn

bnewell · #7 (**permalink**) 05-08-2003, 08:12 PM

Have you spoken with your local State Farm agent?? I just signed on with them with my SPF for $80.60 a half.

Brian

Lynn Johnson · #8 (**permalink**) 05-08-2003, 09:15 PM

Brian - thanks for your reply. My insurance has been with State Farm for years. Everything I own, home, cars, boats, motorcycle, motorhome, etc. They said no today.

Please let me have name of your agent and I will get my agent to call him/her asap.

Did you go the route of show or classic car? What does your rate cover?

They quoted me a liability only rate, said they would not cover the car.

Lynn Johnson

Bill Wells · #9 (**permalink**) 05-09-2003, 06:00 AM

lynn. you caught hagerty sleeping. they have NOT written new policies on cobra replicas in almost two years, just grandfathering the coverage on their previously insured . hagerty had a major payout on a death accident with a cobra replica and paid out almost 1/2 mil on one claim (the max coverage that policy carried). not long after that, no more new cobra policies written !

about 1 yr ago , at renewal of individuals policies , hagerty began raising the rates prox 60% but REDUCING the liability.in mich, that meant they took it to 10/20 ( state required minimum levels) as i recall, which is ZIP as well as adding a deductible.

the rate was not as much a concern as the LIABILITY decrease was....ya gotta have adequate liability coverage on these cars or kiss everything else ya own goodbye ! this is a litigous world and you can count on a law suit. for those that dont carry liability or have bare bones minimum, you better not have any assets other than your car !

good luck in insurance shopping. before long it won't be how much does it cost, but can you get coverage at all !

too many wrecks . too many deaths. too many injuries as a percent of their portfolios. too much risk for insurance co's that are seeing their incomes hurt by the down stock market and their ability to make adequate returns on their outside investments that really pays their bills vs our premiums. bill

bnewell · #10 (**permalink**) 05-09-2003, 07:05 AM

Lynn ~ you have mail!!

Brian

Jahred · #11 (**permalink**) 05-09-2003, 08:59 AM

Make sure you have tried your existing insurance company. If they will take it, it will be alot cheaper as a "second car" etc............possibly a fraction of what you would otherwise pay..

sambrozy · #12 (**permalink**) 05-09-2003, 10:30 AM

Contact Jonathan Barlow 800 558-7772. He specializes in our types of cars. He has me insured with the Met.
Stan

sodapop · #13 (**permalink**) 05-11-2003, 06:33 PM

thanks I will give them a call

melrich · #14 (**permalink**) 05-11-2003, 07:08 PM

I got my insurance through State Farm. $40,000 declared value for about $200 a year under specialty car. If you need a name of agent let me know. Rich

ERA 626 · #15 (**permalink**) 05-11-2003, 07:28 PM

I have american collectors ins. they were the best by far for me $70k agreed value on an ERA $350 a year !!

CJ428CJ · #16 (**permalink**) 05-14-2003, 08:20 AM

I tried to go with American Collectors. I told them exactly what I have - a 1965 Cobra replica that will be licensed in California as a 2003 model year. $60,000 declared value. They quoted me $292 per year. I filled out the application form and sent them a check and the pictures as they asked. 2 weeks later the apps, check and photos were returned via snail mail asking me to send it to them again but this time to also include anything documenting the year and make of the vehicle and a bill of sale to support the $60,000 value. I faxed them what they needed and then called them. They said the original quote was based on a 1965 model year but since it was going to be registered as a 2003, the rates would be different. I said "okay" what's the rate going to be? $750/year. I said no thanks and called my State Farm agent. They quoted me $340/year for a collectors car policy with a $60,000 value.

I still haven't figured out why the year model would matter to American Collectors. If I'm limited to 2500 miles per year and it has a declared value of $60,000, why should it matter whether it's registered as a 1965 or a 2003?

Chris

Steve R · #17 (**permalink**) 05-21-2003, 09:19 AM

Just a note...
As I understand it, you guys want "agreed value" NOT "stated value" which is subject to interpretation at the time of payout.
It would be nice to hear a comment on this from someone in the industry. Thanks.
Steven

emptor · #18 (**permalink**) 05-21-2003, 11:31 AM

Try calling Chubb. I used to have everything with Nationwide (House, car, van & 3 bikes), but they refused to insure the Cobra. After searching for some time, I could not find another company who insures in NY to take JUST the Cobra, so I gave everything to Chubb because they had the best overall deal. They do agreed value and have no mileage restrictions. Then get yourself a two million umbrella policy for under $200 per year and sleep well at night.

wwissman · #19 (**permalink**) 06-07-2003, 12:55 PM

I just insured with Northeast Classic Auto Insurance sib of American Modern Ins. BI &PD Liab: $500k, Med Pymnts: $2,500, Uninsured Motorist: $500k Stated Value $40,000 Max 3,000 miles/yr $265. full year Speak to Mike Smith (800) 866-6440 info@classiccarinsurance.com mention Wayne Wissman

bigmike · #20 (**permalink**) 06-07-2003, 02:30 PM

I insured with Haggerty for $377.00/Yr; $50,000 stated value.....2 weeks later, they came back and said they don't DO replicas. Returned the check.
Agent got me with Aeon for $274.00/yr; $25,000 stated value. Still shopping. State Farm said they are not writing new policies. My current carrier on other cars is Met. Wonder if they are interested?
Is this a crock, or what???
BigMike