Chubb vs. Hagerty Premiums

[1972_Targa]

I've been with Hagerty for years insuring my 1972 BMW 2002 Targa. My policy renewal is coming up shortly, so I decided to check out Chubb as well. Not even close. Hagerty is around $800 vs. Chubb at $500 per year, apples-to-apples.

 

Am I missing something here? Any bad experiences with Chubb on this forum? Appreciated.

[Preyupy]

Hagerty did not want to cover the Turbo so we called Chubb and they jumped on it.  I have not had a claim but I now have 4 cars with them and I check every couple of years and they are still the least expensive.  I'm happy so far.  

[joysterm]

I am curious as to what the your policy pays out to you in the unlikely event the car is stolen or damaged upon repair. And, did you require an appraisal or do they go by market value?

 

Mike 

[John_in_VA]

I moved after 25 years with Hagerty to American Collectors (they work with USAA customers) - same coverage at a savings.  I've never made a claim - that's usually when you find out how good your insurance company is!

Edited June 25, 2020 by John_in_VA

[jp5Touring]

I'm with American Collectors Ins.  I pay a little over $600. with a agreed upon value of $22k.  

They had three tiers of Ins. of barely drive(shows,parades)  drive whenever( work,errands and such) and daily driver.

I have drive whenever I want but not as daily driver.

IIRC Hagerty wouldn't insure me cause I wanted to drive it whenever I wanted.  I have towing and a hotel if out of town.

My regular Ins. agent recommended them to me.  I need to raise the value to $25-$30k because BAT effect.

[Preyupy]

I sent in Pictures and a description (one of them is heavily modified)  I'm on a 2000 mi a year (each car)  anytime I want policy.  We talked about comps and Chub was happy to write the policy.  I have updated the values a few times over the years.  Probably time to look at them again.  They asked for the mileage when I signed up but have not asked since,  I could probably drive any one of them full time for a year and not catch up to averaging 2000/year.  

[1972_Targa]

Thanks for all the responses.

 

The Targa is currently insured for $50K (lesser Baurs have sold for that amount over the past year). Hagerty didn't blink when I asked to increase the value from $40 to $50K about eight months ago. They just asked for more money.

 

Looks like I may be making a move to Chubb... 

[1972_Targa]

1 hour ago, joysterm said:

I am curious as to what the your policy pays out to you in the unlikely event the car is stolen or damaged upon repair. And, did you require an appraisal or do they go by market value?

 

Mike 

Initially an appraisal to get started, then comps with every increase in value over time...

[albatcha]

Interesting that Hagerty wouldn't insure you because you wanted to drive whenever. I didn't check with chubb, but for me with Hagerty it's about $350 a year for my tii, at $35k, including with a 24 year old as one of the primary drivers. I think I also estimated about 2000 miles per year, but in North Carolina I don't think the law actually allows a limit on mileage with insurance if I go over. But I do think 2000 miles is realistic. And on the application I had occasional daily driver and driving whenever as stated uses.

 

But now I'm remembering that we have some of the lowest car insurance rates in the country here in North Carolina, and it makes a little more sense.

[albatcha]

If the 24 year old wasn't on the policy i think it was going to be close to $200 yearly, maybe a little under.

[TobyB]

Timely, thank you.  I need to insure the herd differently, as the covids ate my income.

 

 

t

 

[bmw_e30]

i've been with chubb for almost a decade

 

i pay $250 a year for my 71 with a 40k agreed upon value with 0 deductible and ~3000 miles a year

 

i also insure my turbo with them. so far chubbs has been great to me and love my agent she is awesome and treats me well

[rcf925]

Rates also depend on where you live, I live in Central Coast area of CA, I have 2 motorcycles and my 68 02 with them. My annual premium is $290

[Chamonix72]

Hagerty is a great friend to the vintage car community, but they raised my rates to over $500/yr @ $20k of coverage when we moved to TX. That is more than I was paying for my 02, E12 and C10 pickup in Washington. Anyway, I went with Grundy at $175/yr. Then I joined Hagerty Driver’s Club for $75 so I can get their towing. 

[tomphot]

Does Chubb have anything similar to Hagerty Driving Club for towing?