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Hagerty Refused To Insure My 02


ma.jomaa

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I applied for coverage with hagerty and they said they can't insure my car due to it being parked in a carport with less than 3 walls(appartment parking there's no way around it for me), and because my daily driver is over 20 years old(I drive an 84 Toyota celica). Do you know other classic car insurance companies that do not have these stipulations?

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What is your current regular auto insurance?  Some companies have "antique" or "classic car" coverage  - but you have to inquire.

I have AAA, they have classic car insurance but they said the 02 doesn't qualify they didn't give me specific reason as to why it doesn't qualify as an antique 

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 I had no garage and my current Allstate coverage was too expensive and didn't really cover occassional driving as well.   So I went to my neighborhood state farm agent and they had a vintage auto coverage poicy.  They looked my car  over and took a bunch of pics. and I now have coverage for $150 annual premium.  This along with min liability reqs.includes towing, uninsured motorists, $500 ded collision, $50 deductible comp.  I now have a garage but don't see a need to change yet.

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I am carrying American Collectors on my 72 Volvo 1800ES and they are very reasonable.  They do require a secure parking area (read locked garage) a later model daily driver and you are mileage limited, but give them a call anyway.

Earl

74 02Lux

02 M Roadste

72 Volvo 1800ES

 

 

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Very curious to see how this resolves. I have four cars on a Hagerty policy, but they area in a locked garage. Hagerty's rates are insanely low (I think I pay $48/year to insure the tii), but those low rates are predicated on enthusiast owners of classic cars loving them to death, which includes keeping things that are mandated by the policy (e.g., them in a locked garage, not using them as a daily driver to commute to work) and things that are probably just assumed (e.g., not parking them at the bottom of a slope of a Stop and Shop parking lot where every shopping cart will roll downhill at them).

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I'm with State Farm as well... insured under my father (because insurance for a 20 year old in NYC is absolutely ridiculous) as a daily driven vehicle and it is very reasonable. Hagerty wants the insured vehicle to be garaged because a lot of classic car guys have a tendency to claim every little scratch. 

 

I'm not saying you should lie, but telling the insurance companies as little as possible is always best, and always talk about what they want to hear. 

 

Shop around! 

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Thank you guys, I will try Grundy and see what they say, American Collectors said no since they need a locked garage, even after I told them it's parked in a gated community. I don't want to insure it as a 40yr old daily driver as it will be insured for market value, and I have way more than that invested in it.

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Maybe you need to look for a "stated Value" policy?  Don't get hung up on the "historic or collectors" name.  If you are driving it on a daily basis it is just a car with a value of "X" and you just need the insurance company to agree to insure the car for that amount.  If you think it is worth $20,000 for instance expect to pay the same amount as you would if it was a 2 year old VW GTI (that is what kind of risk they are taking) BUT you also have to take into consideration they are taking a higher risk of Personal Injury liability claims from any passenger you have that is hurt (lack of current crash protection including air bags and modern seatbelts) you also don't get the "ABS" discount they used to give. 

 

The biggest difference is the "stated value" and that only comes into effect when you are making a comprehensive claim (it was YOUR fault and you want them to fix or to pay you for YOUR car) Having a "stated value" collector or historic insurance policy does not make it any easier dealing with other insurance companies when their customers hit you, you still have to jump through all the hoops to prove the value of your car.

 

I had my '70 insured with Hagerty  for almost 10 years and thought they were very easy to deal with, I never made a claim.  When I set the policy up they asked where it would be parked, mileage, modifications, value and wanted a few pictures.  They never asked anything else in all those years.    When I tried to add the Turbo they refused to insure it for the amount I thought it was worth, I gave them all sorts of documentation about values based on cars that had sold in the last 5 years all over the world etc.  I finally talked to other companies and wound up going with CHUBB,  I told them I wanted a stated value on both cars, answered their questions, sent in a few pictures of each car and it was done. 

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Very curious to see how this resolves. I have four cars on a Hagerty policy, but they area in a locked garage. Hagerty's rates are insanely low (I think I pay $48/year to insure the tii), but those low rates are predicated on enthusiast owners of classic cars loving them to death, which includes keeping things that are mandated by the policy (e.g., them in a locked garage, not using them as a daily driver to commute to work) and things that are probably just assumed (e.g., not parking them at the bottom of a slope of a Stop and Shop parking lot where every shopping cart will roll downhill at them).

this is why the rates are low.  because collectors are an extremely low risk group. folks who daily drive/park outside old cars that have none of the safety features newer cars have should really be in the risk group with everyone else who daily drives a car.  not in the collectors risk pool.  the companies have all those rules to manage the risk.  the benefit to those of us who protect our cars and limit their exposure is lower rates.

 

no offense to Rocan, but if, for example, you are an under 25 driver who parks a car on the streets of NY and drives it every day, you should be in a very high risk pool and paying very high rates to match.

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