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Who does everyone use for insurance?


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Geico is my insurance provider, and the z has the basic liability coverage to make it street legal, but they told me that a collector car insurance provider of sorts would be better for theft & damages coverage since the raw value of a z isnt' going to offer much if the car is stolen or damaged or whatever else. What coverage do yall have?

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Many threads on this topic already. Search for "insurance collector classic" to see some of them. No need to re-open a new thread for an old topic.

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Yeah, me, too!

Gotta call Hagerty....

Haggerty is cheap cause they'll bearly let you back your car out of the driveway. It's for shows only, preferably trailered. At least that's the way they sounded to me. I use Nationwide.

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What does Nationwide value your car at? Agreed value or book value?

From hagerty website:

Flexible Usage -

Cars were made to be driven. So our policy allows for an occasional leisure drive, not just to parades or car events. We encourage limited pleasure use with no fixed mileage limits.

John

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Beautiful car, travel'n man. That picture could be a poster. Yeah, Hagerty makes you jump through a couple of hoops to get started, but it's well worth it, from what I hear.

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What does Nationwide value your car at? Agreed value or book value?

From hagerty website:

Flexible Usage -

Cars were made to be driven. So our policy allows for an occasional leisure drive' date=' not just to parades or car events. We encourage limited pleasure use with no fixed mileage limits.

John[/quote']

For what I received from the via email, it your Z is your daily driver (as in you only have ONE car) you sadly can't get Hagerty. They explained that you must have another car to be insured with them. Again I could be wrong but this was directly from them via email. I use Liberty Mutual and pay 78 a month (but I don't have full coverage sadly as that would increase it exponentially).

Jan

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Beautiful car, travel'n man. That picture could be a poster. QUOTE]

Thanks for the compliment - I have never met a stranger when drivin' the '29 Roadster - I don't care what age they are, 5 to 95, everybody waves! Total different car than the Z but it's great to get out of one and go drive the other!

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For what I received from the via email, it your Z is your daily driver (as in you only have ONE car) you sadly can't get Hagerty. They explained that you must have another car to be insured with them. Again I could be wrong but this was directly from them via email. I use Liberty Mutual and pay 78 a month (but I don't have full coverage sadly as that would increase it exponentially).

Jan

I was told this as well, it didn't matter that I live in a city with good public transportation (which is free for me) and I use that for everything. Then there's the woman's car that gets used for occasional shopping trips. The Z is just for fun. I only put about 1500 miles on her last year, mostly driving every few weekends in the countryside.

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Just curious, is there anyone out there that has an agreed value with one of these companies and had to use the policy???

If so were they straight up or did they try and come back at you and say it is a 30+ year old Datsun here is $1500 if that?????

Getting the itch to start driving my Z again, and am curious whether these collector policies are worth what they make themselves out to be.

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For what I received from the via email, it your Z is your daily driver (as in you only have ONE car) you sadly can't get Hagerty. They explained that you must have another car to be insured with them. Again I could be wrong but this was directly from them via email. I use Liberty Mutual and pay 78 a month (but I don't have full coverage sadly as that would increase it exponentially).

Jan

Not that it matters overly much owing to different locations, driving records, credit histories, and whatever else they factor into premium calculations now, but I pay ~700/yr for full coverage on my '71 through Liberty Mutual. I did have to sign an agreement that says I drive the car < 7500 miles/yr, though (easy, since I average a couple thousand a year on the outside).

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Just curious, is there anyone out there that has an agreed value with one of these companies and had to use the policy???

If so were they straight up or did they try and come back at you and say it is a 30+ year old Datsun here is $1500 if that?????

Getting the itch to start driving my Z again, and am curious whether these collector policies are worth what they make themselves out to be.

Russ I have never had to place a claim with Hagerty for my 72Z, but the body shop that does all my paint work said that they are one of the best to deal with when you need your classic repaired. This shop does a lot of custom hot rods and they insure their own cars with Hagerty. He said some times Hagerty does not even send out an appraiser to check on a car, they just issued the check since it is agreed to coverage.

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Just curious, is there anyone out there that has an agreed value with one of these companies and had to use the policy???

Sad to say - I had to use my Hagerty Policy about five years ago.

- I took my Z to the body shop I use for restorations and refresh jobs.

- The body shop told me how much it would be to repair the car - Every damaged part was replaced with NOS parts. Hood, Front Fender, Bumper, Center and Right lower finisher, Parking/Turn Signal Light. The Right Head Light nacelle was fiberglass, and it was repaired. All-in-all it took about $8K to put it back to original condition. At the time the Agreed Value on that Z was set by me at $16K.

- After getting the estimate from the body shop - I called Hagerty and the Lady that handled the claim simply said - {para phrase} I am so sorry to hear that your car was damaged. If you are happy with that body shop go ahead and have the do the repairs.{/ para phrase} So I told the body shop to proceed.

- About two weeks later - the car was almost finished and the body shop owner told me that they hadn't received approval from the Hagerty yet. In fact they didn't hear anything from them. He suggested that I call them.

- I called the Lady at Hagerty - told her what the shop owner said - she put me on hold while she checked to see what the status of the claim was. When she came back on the phone she said; "I am sorry for the delay Mr. Beck, the check for your damages was sent out two days ago - you should have it tomorrow. If its not there in three more days let me know."

The check in full was at my house the next day.

I had been with a couple different Classic Car Insurance Companies before I switched to the Hagerty. I have been with them now for over 20 years. If their premiums were twice as much as anyone else's - I'd still stay with them. When you deal with anyone there - you are dealing with real Car People, that happen to be in the insurance business. They support the hobby and the Classic Car Community. Their Quarterly Magazine is almost worth the premiums, I've saved every issue.

If so were they straight up or did they try and come back at you and say it is a 30+ year old Datsun here is $1500 if that?????

You do not seem to understand the difference between an insurance policy written with an "AGREED" value, vs one written with an "Actual Cash Value" and/or a "Stated Value"

Hagerty wrotes only "AGREED VALUE" Policies on Classic Cars.

"Agreed Value" means that you and the insurance co. agree ahead of time what the exact value of the car is. That is the amount they pay in case of a total loss, or they will pay up to that amount to fix your car. PERIOD No Claims Adjustors - there is nothing to Adjust.

"Actual Cash Value" - is determined by a number of factors at a specific time in the future - when a loss occurs. So the value can go down due to use, wear and tear. This is where you and the Claims Adjustor butt heads... and usually you lose.

"Stated Value" - is a situation where you "State The Value" of your car. Your premiums are then based on that amount of coverage. When you have an accident, you still deal with a Claims Adjustor.. wear and tear still apply. The Claims Adjustor is NOT bound by the value you Stated. It is simply a starting point - from which "adjustments" can be made. In no case however would the value of your car exceed the "Stated" value.

DO NOT LISTEN to your Insurance Agent - PERIOD. READ your Policy - that is what controls. If you don't understand the language used - ask an Attorney to review it with you and explain what it means. Your Policy has to say "Agreed Value" - so something along the lines of - "we will pay up to the amount given in the Declarations Page to repair your vehicle, or in case of a total loss bla bla bal"

FWIW,

Carl B.

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I have mine insured through Country on the same policy as our 4runner. Since it's a work in progress and has not been driven more than 2 miles since I got it, I figured that was just fine to have basic liability on it- a little more than the state minimum, as well, since they won't do just the state minimum. I can worry about better insurance later, once it stops looking and acting like an insurance company's worst nightmare. I just wanted enough insurance so I could test drive it, take it places to have things looked at, etc.

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Although this has been hashed out several times in more detail in older threads, I can say that on the MG board I visit, there was an MG owner, insured by Hagerty, whose MG was totaled. Hagerty sent him a check for the full agreed value.

I wish I could use Hargerty to insure my DD as well!

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thanks Carl for the 411 on your post answering my questions. I understand the concept of the Agreed Value, however in practicality wasnt sure what might happen. I realize that some of us might have more passion for our cars than what they really are worth and was curious about the outcomes of such occasions.

Hope to see you up at the Z car convention.

Russ

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