Hagerty values on the MM - wow!

My quote was for pleasure driving so I am not limited to shows, weekends, etc. I would not have bought it otherwise. I have to see if they have storage credit.
Geico was charging me $500 a year (less 6 months storage only credit) and would give me $8 in case of a total loss.
So for $200 more per year I have $0 deductibles vs. $250, way higher coverage limits, and would get an additional $21,992 in case of a total loss. And it won't get totaled from a hail storm. A real no brainer.
 
a_d_a_m said:
What I don't like about Hagerty is they (at least the agents I've spoken with) are dead set against any regular cruising. They want to see the car used for car shows, parades, etc. only. When I told the reps at the Cleveland Auto Show that I take mine to work (gated and secure compound with no real parking lot hazards) and occasionally the grocery store, they indicated such activities would nullify my policy.

So I stayed with State Farm.
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Not true, Hagerty over the last few years has really loosened up their underwriting rules and as long as you have a regular daily driver vehicle and the MM is a secondary, they will even allow daily driving type use - you just have to enter that in the quoting mechanism.


If your MM is your only vehicle and you drive it year round for daily transport then insure it with a standard carrier like SF but it is not a good idea to insure a collector car with a standard carrier like SF, a claim is taken care of by the regular claims force that have no experience working with antique or collector cars.


Hagerty now even has a place for Late Model Collectors so the old "20yr and older" rule doesn't apply all the time anymore. Insure your 2019 Corvette with them, etc.
 
I've had Hagerty on my 1963 for many years and I'm quite happy with it (though I've never made a claim), but there are MANY restrictions.

I don't even consider Hagerty for my 2003 because I use it differently (even though it is also a toy) and it doesn't fit within those restrictions.
 
I have a $25,000 policy with Hagerty and paid $850 for the year. I am less than 4000 miles per year, have a DD and the Marauder is garaged.

USAA valued it somewhere around $7k or something stupid like that so it was a pretty easy decision.
 
kirk said:
I've had Hagerty on my 1963 for many years and I'm quite happy with it (though I've never made a claim), but there are MANY restrictions.

I don't even consider Hagerty for my 2003 because I use it differently (even though it is also a toy) and it doesn't fit within those restrictions.
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When you click the pleasure driving box there aren't many restrictions. Garaged, no nitrous, no DD. About it. You may want to look at it again.

Quote from Hagerty's site:
"Pleasure (Examples are fun stuff like cruises, a trip to the ice cream shop, or occasional driving to work)"
There are no mileage caps. Sounds agreeable to me even though I drive it rarely anymore.
 
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Massachusetts only allows their state agent to insure vehicles.
Can't get an online, out of state insurance company.
They do have in person appraisals and collector car insurance options, with mileage rules.
But, not so cheap.
 
Carefully read any use restrictions on specialty vehicle insurance policies.

Some insurance companies will also sell a Value +20% endorsement.
 
MyBlackBeasts said:
Not true, Hagerty over the last few years has really loosened up their underwriting rules and as long as you have a regular daily driver vehicle and the MM is a secondary, they will even allow daily driving type use - you just have to enter that in the quoting mechanism.


If your MM is your only vehicle and you drive it year round for daily transport then insure it with a standard carrier like SF but it is not a good idea to insure a collector car with a standard carrier like SF, a claim is taken care of by the regular claims force that have no experience working with antique or collector cars.


Hagerty now even has a place for Late Model Collectors so the old "20yr and older" rule doesn't apply all the time anymore. Insure your 2019 Corvette with them, etc.
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That's interesting, I didn't remember that being in place when I last looked into them a couple years ago. Sounds like I'll have to get some new quotes and I can possibly slap the Mustang on this policy as well.
 
Mustang

offroadkarter said:
That's interesting, I didn't remember that being in place when I last looked into them a couple years ago. Sounds like I'll have to get some new quotes and I can possibly slap the Mustang on this policy as well.
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That's a thought for me as well. My Mustang is immaculate and only 30k miles - won't hurt to ask. The nearby Hagerty agent I spoke with is multi line and wants to do quotes on everything I currently have with State Farm, which is basically everything except life insurance.
 
Invective said:
That's a thought for me as well. My Mustang is immaculate and only 30k miles - won't hurt to ask. The nearby Hagerty agent I spoke with is multi line and wants to do quotes on everything I currently have with State Farm, which is basically everything except life insurance.
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Hagerty just quoted me at 2371 for the 04 marauder, m5 and mustang. Values at 20 / 20 / 35, all set to pleasure for driving. Think the Mustang and M5 were set at 1376 miles a year and the marauder at 500.

I'm going to see what Grundy comes back with as a comparison, I feel like 2300 is a bit steep.
 
I’m surprised nobody here mentions American Collectors I’ve been with them since 2007 with multiple fox new edge and s197 mustangs as well as my MM at @400yr insurance for 20000 appraised value
 
Classic Car Insurance

Blwnmerc said:
I’m surprised nobody here mentions American Collectors I’ve been with them since 2007 with multiple fox new edge and s197 mustangs as well as my MM at @400yr insurance for 20000 appraised value
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JC Taylor is another name that pops up. I'm looking at: Do they write insurance in my state? Who requires the least amount of restrictions? I really don't have a 'daily driver' as I only drive when absolutely necessary.
 
Invective said:
That's a thought for me as well. My Mustang is immaculate and only 30k miles - won't hurt to ask. The nearby Hagerty agent I spoke with is multi line and wants to do quotes on everything I currently have with State Farm, which is basically everything except life insurance.
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Not sure of your Mustang's year, but I have an '04 Mach1 insured with Hegarty, along with 4 other cars. No trouble at all for a newer vehicle.


It's encouraging to see those kinds of Marauder values. Perhaps the car is finally gaining some collectible status, as it should after 15/16 years.
 
Invective said:
JC Taylor is another name that pops up. I'm looking at: Do they write insurance in my state? Who requires the least amount of restrictions? I really don't have a 'daily driver' as I only drive when absolutely necessary.
Click to expand...


With JCTaylor you will need a daily that is less than 20yrd old and their underwriting rules are WAY stricter than Hagerty (my company owns JCT), which is why their premiums are significantly lower - less risk. Don't bother applying.


With no DD, you won't get a collector policy, you'll have to stay with ACV coverage on a Std carrier policy.
 
Insurance

To summarize, there are four collector car insurers: Grundy, Hagerty, American Collectors and JC Taylor. Any others?
Questions to answer:
-How much will it cost?
-Am I limited in total miles per year?
-Can I get occasional pleasure driving included?
-What other use restrictions are included?
-Must I have another car as daily driver? Can it be insured with a different Ins company?
-Do I estimate my stated value to cover modifications (in whole or in part)?
-Are they picky about my personal driving record, accident history, age, etc.
 
MyBlackBeasts said:
With JCTaylor you will need a daily that is less than 20yrd old and their underwriting rules are WAY stricter than Hagerty (my company owns JCT), which is why their premiums are significantly lower - less risk. Don't bother applying.


With no DD, you won't get a collector policy, you'll have to stay with ACV coverage on a Std carrier policy.
Click to expand...


I've owned the Ranger the longest and declared it as my DD to Hagerty already, agent seemed to be fine with it. Will mention my Mustang the next time I sit down with her. Truth is I hardly drive anywhere anymore since retiring except for the rare family related trip. Less than 5k miles per year spread among 5 vehicles.

Before retirement, my vehicles sat parked 1-2 months at a time while I traveled the US - Canada, primarily by oversized vehicles and commercial air travel. This being the primary reason for their pitifully low odometer readings now, Marauder being the obvious exception as I purchased it after retirement.

Grundy excluded me right away (shelter), but Hagerty has been positive from the beginning, from web page to contact with agent. If anything changes I'll inform the board as all of my auto coverage renews in July. A bit disappointed SF doesn't offer similar coverages.
 
I have mine insured with Hagerty with a replacement value of $25,000. I thought they were very generous with their mileage and the prefer it in a garage and not a daily driver.
 
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