Now a days they pretty much all want that. This is because when a custom car is insured it obviously isn't stock and can't be valued as such. For instance.... If you have a chrome front axle and you hit something and damage it, are you going to accept a "painted" axle??? NO! So the company needs to see as well as document any and all modifications. And YES, it will effect the price. It's for your own good! As far as price.... If you want it insured properly and nobody is willing to take you but "Company A" and "Company A" wants "a little more" isn't it worth it?
If you use you car to go to work, or the store or other things, you need to let the insurance company know. I did and the only one who would work with me was Haggerty, Grundy told me, and it has been repeated here on the HAMB by the woman who works for them that they do not cover trips to the store or work. I am not arguing with those who have grundy and do this, I asked them when buying and again on the HAMB and the answers were the same...so if you have grundy and do those things above I am not arguing with you just stating what I was told. I like to take my kids to football practice, hockey, and if I want to stop somewhere on the way home, or take my car to work and have to stop for something I want to make sure I am covered. I had Condon and Skelly and later found out I was suppoed to use the car for hobby purposes only. I also know there is another co that deals with the HAMB and they have good reviews too.
All companies have a little leeway, you just have to read (between the lines) your policy. In your case, taking your kids to football practice is an "event"! You are allowed to take your car to an "event". You just have to know what to say and how you say it.
Amen. I pay half as much with Grundy for more coverage than my Son pays with Haggerty on his T bucket for less agreed to value. I have never had to use them, so not sure how they will be if the unfortunate should ever occur, but I have been happy with everything so far. They got pictures of my car, know what motor is in it, and all they really cared about was that I have a locked garage to keep it in. That Haggerty quote you got seems way out of line for a little 4 cylinder with that much coverage. Don
Most of the "speciality" companies honestly do care. As far as that quote, the only thing I can think of is that it's a turbo. Some places still look at turbo cars and/or 2 seaters as trouble.
As an aside, I do get roadside coverage with Haggerty, and I had cause to use it this last year, and I was very pleased...
Wonder if State Farm has different coverage in different states. I had heard rumors that they were now offering Agreed Value coverage and have a friend with 12 cars covered under what he thinks is an Agreed Value policy but when I looked into it turns out they were only offering Stated Value. I have both of ours with Grundy with minimal photos and documentation. Had a blown 32 Ford with them for years and never a question about the motor, just some pictures.
I have full coverage thru Allstate on my '50. No restrictions. Just need a certified appraisal and update it every couple years. Policy pricing is similar to my other O/T rides.
I use to be a claims adjuster. Till I couldn't take the insurance company's bullshit anymore and gave it up. It's a shame cause I really enjoyed it. However, the companies kept finding more and more ways to either cheapen the repair, deny a claim or raise the insured's rate. I'm sorry but I have to sleep at night. The last straw was when they told me I had to sell my Harley!
Here's todays update: JC Taylor can't write the policy I need in NC State Farm would only do a "Stated Value" 40K 500 ded. and quoted $379/6mos Thats $760 /yr... This was after lots of phone calls between agent and corporate office. I questioned "Stated Value" vs " Agreed Value" and was told on Stated Value ,it was up to me to prove the value if there is an accident/loss ( after paying premiums based on the stated value!!!) Seems like a perfect scenario for the company to wiggle out of paying in the event of a loss,to me Grundy is not writing new ins on hot rods in NC @ this time ( This is second-hand info and may not be true. There is some shakeup going on at Grundy, I was told by several people.) I was told by another insurance agent, that all companies are looking closer at their risk/loss figures and thats why some cars are getting closer scrutiny Any company I checked with,including Hagerty ,is saying the turbo ( even tho it was stock on an '83 TurboCoupe) is considered a power -adder. The person from Hagerty even used the term " power to weight ratio"!!! So, looks like Hagerty's $525/yr is about the going rate I dropped the towing option, so should be around $485/yr Stiil seems high , but I've heard nothing but good things of the way Hagerty reacts in case of a loss/claim...so maybe the few bucks extra now will pay off in the long run Thanks to all for listening/suggestions/links to companies, etc Long Live The HAMB!!! Stan
I like someone that actually asks questions and not just buy it because their buddy has it. Stan, did you look into Heacock? Also, I didn't mention that when the economy is down collector cars seem to disappear or mysteriously start on fire. That's why the companies go over things with a fine tooth comb.
I know I'm just a FNG and my rides aren't on the street hence no insurance but I use USAA for all my insurance and they even cover my 1920's house with no earthquake bracing here in SoCal. It used to be a pain to qualify for USAA - you had to have been a frikin officer in the military but now they cover every one with an honorable discharge even us lowly enlisted types. NO, I have never asked for a quote for a hot rod or custom so I might be opening my self up to being flamed but so be it. Most of us old fart hot rodders are veterans so it might be worth a phone call to check. JMO. Tim
I believe USAA does insure collector cars but only present and former military personal are accepted into their plans. I.O.W.: No civilians!
Regarding State Farm: I know this has been said Ad infinitum but your assumption that State Farm does leave themselves an "escape clause" is correct. State Farm is a good company for your regular cars but the do not write Agreed Value policies! It is always best to be a well informed consumer and you did a good job with your research. Good luck with your hot-rod, it looks like a fun ride!
Yeeep! I go through this all the time with friends and on another forum. A company like State Farm is perfect for your DD but absolutely not for a collector car. I can't tell you how many times I hear "my agent says this and my agent says that". BULLSHIT!!! Agents are glorified shoe salesmen. When you have a loss your agent will be nowhere to be found. The company writes the check and the company holds the cards. When I ask these people that are insured by a company like State Farm if they ever had a claim on their collector car their answer is always no. I wait for the day they do. If you don't have your ass covered, you're shit out of luck. You need to deal with a specialty company (agent) whose main focus is only antique, collectible, custom and special interest motor vehicles. These outfits are dedicated, experienced and in most cases collectors themselves. Don't fool yourself into thinking that "insurance is insurance" because I'll be waiting to tell you "I told you so"!
Hey just a thought but I recently found out that joining the AARP can give you AARP vintage car insurance which is from The Hartford Insurance company—except at a discount for seniors. Sounds interesting so it might be worth looking into.
I have State Farm with an stated value policy for both my old cars, 30+ years now. Two years ago, when the flathead started knocking 75 miles from home, I called a roll back and had it hauled home. Mailed the towing receipt to my agent. He said State Farm only pays towing to the nearest repair facility. I said "My garage is the nearest repair facility for a '36 Dodge" They paid the tow in full!
36DodgeRam, I strongly suggest that you change your policy from "stated value" to "agreed value". Otherwise you get what the insurance company thinks it's worth which is usually way less than what you have in it.
Hagerty. You'll be happy. Especially if something happens. Like, the worst, it's stolen. They'll write you a check. No questions asked. And for what you told them it's worth. Insurance is one of those things you pay out the ass for. But that one time you need it, and it's not quite what you would want (like to totally replace the item) it sucks ass big time.
I have my 41 insured with allstate as a dailey driver with no restrictions,,The truck is appraised. It made sense for me as most collector car insurance has limited mileage and the closest city from my house is 200 miles..About $500 a year,,my last hotrod was $130 a year insured as collector,,2000 limited miles annually but no collision insurance,,i added that to the 41..
This isn't exactly so. Your value must be within reason. You cannot fabricate some off the wall price just because you say it's worth it. No company will pay a rediculous figure just based on that "you" claim. This is why it is best to have a "registered" and "licensed" appraiser do an official appraisal of your vehicle prior to obtaining an insurance policy.
I have used State Farm in the past and still do. I have not had to have a major claim but with my stack of receipts and professional apprasial I do believe it is covered correctly. All insurance companies will have a fight when it is time to pay a total loss, it does not mean you have to accept it. Have your paperwork in order and don't be afraid to say "NO". When my DD truck was stolen I refused their settlement 4 times. After showing numerous listings (establishing replacement cost), receipts for aftermarket add-ons, and a receipt for tires less than 3 weeks old the Insurance company made an offer that was acceptable. ($5000 more than their original). The claims agents job is to get you to settle for the lease amount possible and many agents receive bonuses off their numbers. Just stand strong and refuse to settle for less than your vechicle is worth.
I would think at a $45,000 agreement you will find what Haggerty advised you would be about as good as you can get.. or close to it...
I certainly couldn't disagree with you more! With all due respect...... You've been listening to too many " 'ol wives tails"!
I did go with Hagerty...45K Agreed Value..Liabilty,collision,replacement,etc...Total cost $ 485/yr.. My decision was based on a lot of good feedback on their reputation for excellent service in case of a claim.... I figure ,you get what you pay for..I didn't skimp on parts for my car,so why should I try to cut corners on insurance. A few dollars more now,may payoff when I need it later. I guess I got "sticker-shock" when I first got a quote. I did learn a lot in my search for a price/coverage ,tho...There a lot of good insurance companies out there,you just need to find one that meets your needs... Thanks for all that replied..I appreciate all your opinions,suggestions,etc Long Live The HAMB Stan
I think your 45K and the turbo is what jacked it up. I have a T roadster with a four cyl insured for 20K and payed 287.00 for the same coverage as you have. I called Grundy and they said they wouldn't insure in NC. I read your post on getting your car titled and can feel your pain.I started in October and finally got my title last week. The strange thing is the title says special construction but they put the model year as 1923. Usually it is the year that that you applied for the title. By the way. Nice ride.
Quote: <TABLE cellSpacing=0 cellPadding=6 width="100%" border=0><TBODY><TR><TD class=alt2 style="BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px inset">Originally Posted by coolbreeze1340 The claims agents job is to get you to settle for the lease amount possible and many agents receive bonuses off their numbers. </TD></TR></TBODY></TABLE> I certainly couldn't disagree with you more! With all due respect...... You've been listening to too many " 'ol wives tails"! Profit sharing as an employee benefit , tracking of claims payout severity, commissions tied to loss ratios . I've seen this and more in my years dealing with them .
The Jalopy Journal
