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Recent values upping hagerty insurance prices?


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I need to purchase real insurance for my 76 now that it is all back together and actually pretty nice. Did a quote from Hagerty for a value of 25k and was a little shocked with $450 per year. Looking back through threads that seems much higher than what others have touted over the years for 02s. 
 

Always thought I would go with hagerty with some of the extra perks from them but quote from Condon Skelly was quite a bit lower. 
 

With some of the high sales lately, I wonder if it is just a sign of the times. 

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The Hagerty premium is also based on how many miles/year the car is driven, how and where it is garaged, and detailed pictures documenting the condition. Also considered is your number of year's driving experience, mature (age 55+) driving course discount, clean driving record and if your vehicle is used for business or pleasure.

I drive < 2,500 miles/year and my premium is less than  $300/ year with a $500 deductible.

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12 minutes ago, John76 said:

The Hagerty premium is also based on how many miles/year the car is driven, how and where it is garaged, and detailed pictures documenting the condition. Also considered is your number of year's driving experience, mature (age 55+) driving course discount, clean driving record and if your vehicle is used for business or pleasure.

I drive < 2,500 miles/year and my premium is less than  $300/ year with a $500 deductible.

Thanks! This is the basic quote before they even ask any of those questions so I would think if anything, it would be their best offer..ya know? I’m 45, have 3 other cars…all garaged etc….I was surprised by price. 

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Prices seem to be all over the place.  I'm old, but my recent increase in coverage to $80K brought my insurance up to approx. CDN$ 525.00 per year.  Still worth every penny for the ease of mind while driving and while the car is on storage during the winter.

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Certain zip codes associated with notoriously accident prone area such as the Glendale - Burbank areas of LA raise red flags with insurance companies. You can have an excellent driving record,but if the majority of your neighbors are negligent drivers, you will be paying premium for insurance due to the risks associated with just taking your car to the street.

 

The rising values associated with our cars are a two edged sword similar to rising prices associated with real estate. While many of us, including myself, stand to gain, the end result is that the majority of 02 owners will be priced out of the hobby. The price of spare parts and maintenance associated with these cars has also adjusted accordingly

 

I'm really turned off by the rising prices of these cars and classics in general. I'm not a "Flipper" nor do I plan on selling my cars.  I'm not in this to make a quick buck. This is not my livelihood. Unfortunately, the rising prices have attracted the charlatans  just as blood in the water attracts the sharks. Recently a FAQ member and owner of an original 1800TISA described how a classic car auction house attempted to auction off  a fake 1800TISA with the same serial number as his car. The auction house provided a narrative of a supposed rich racing lineage and history associated with the car etc. It all looked great and sounded good on paper. And, the car is a very presentable and well built 1800ti race car, but it is no original 1800TISA as presented. When the FAQ member confronted the auction house, they turned to BMW for support. But, in the end there was nothing BMW could do to support the auction house. And, they removed the car from the auction.

 

 

Edited by Slavs
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