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Hot Rods Collector car insurance prices dropping..yeah right.

Discussion in 'The Hokey Ass Message Board' started by 40FORDPU, Sep 8, 2020.

  1. 40FORDPU
    Joined: Mar 15, 2009
    Posts: 2,890

    from Yelm, Wa
    1. Northwest HAMBers

    Sooo, it seems logical to me that the collector car insurance companies would/should discount their policies for these cars that we own.
    Most of the "old car" events have been cancelled due to the f***king CV-19 pandemic.
    Less events equals less risk, opportunities for accidents/thefts, since as a group the amount of our cars on the road is a fraction of the "old normal" vs the "new normal".
    We all know the insurance companies have our best interest at heart, and therefore naturally would automatically reduce our premiums..sure.
    Just a sarcastic observation on my part, if you haven't figured that out by now.
  2. khead47
    Joined: Mar 29, 2010
    Posts: 1,710


    Just insured my 47 with Haggerty. Very reasonable imho. But they would not allow me to drop the PIP that is no longer a requirement here in mich.
  3. Moriarity
    Joined: Apr 11, 2001
    Posts: 19,269

    Staff Member

    I am using my old cars more than ever. I don't need events for a reason to use my cars. Just the silly grin on my face when I drive em is reason enough!!
  4. denis4x4
    Joined: Apr 23, 2005
    Posts: 3,557

    from Colorado

    Added a 1977 OT car to my Hagerty policy and it was a mere pittance. Like Moriarty, I'm using my cars more than I ever did prior to the Covid-19.
    210superair and flynbrian48 like this.

  5. In fact my daily driver insurance company Allstate issued a credit to our policies as some sort of "covid relief". I didnt ask any questions but was glad to save a couple bucks.
    210superair and flynbrian48 like this.
  6. All my insurance (house, 3 hobby cars, 3 daily drivers, 3 trailers, umbrella, etc.) is with one company. I got notification that my insurance will cost me 7% less this year. That is a chunk of money!
  7. 1971BB427
    Joined: Mar 6, 2010
    Posts: 5,895

    from Oregon

    I had Haggerty for years, and thought they were OK priced, but they raised my insurance about 10% each year, even with no change in agreed value, or claims. I finally got irritated, and began to shop around. A friend had Chubb Collector car insurance, and told me to give them a call. I called them and got a quote that was 30% lower than Haggerty. Only stipulation was the first car had to be worth $25,000 or more. After the first the others can be lesser value. And they also insured my non driving project car for next to nothing.
    Been with Chubb for three years now, and I still haven't had my policy price raised. Only increase was when my '39 Chev coupe became a driver and they raised the price a whopping $13 to cover the change from project car to driving car.
    The big difference between Haggerty and Chubb is they don't advertise, so we're not paying for all those bags, and all the meets Haggerty shows up at to sell themselves. So Chubb gives us lower rates instead of advertising.
    little red 50 likes this.
  8. Back in August there was a storm that could have impacted our area. Got an email from the company that insures my 46 coupe and was told that if i felt my storage area could be damaged they would pay up to $275 for gas, storage or hauling to a safe location. I don't blink an eye when the premium comes due.
    Fordors and flynbrian48 like this.
  9. 41rodderz
    Joined: Sep 27, 2010
    Posts: 5,210

    from Oregon

    Thanks for that PSA tip . I will be looking into Chubb .
  10. 210superair
    Joined: Jun 23, 2020
    Posts: 200


    My insurance is cheap overall, mostly because I have enough cars and boats for a small used lot opening.... Lol. I've also driven the wheels off my car this summer. Daily drove it a few months basically, and sadly she'll be put up for winter in the next few weeks. Gotta make room for the snowmobile tho, so happy for that!
    Last edited: Sep 8, 2020
    40FORDPU likes this.
  11. 4ty
    Joined: Dec 11, 2018
    Posts: 103


    Compared to what I pay for the two family cars Haggerty is a bargain. JMO
    Paul in CT
  12. Mine are State Farm, OT's are along with house and property. Keeping them all together with one company gives an overall lower rate.
    210superair likes this.
  13. All the insurance with one agent/company provides a little incentive to make the customer happy, too.
    warhorseracing likes this.
  14. corncobcoupe
    Joined: May 26, 2001
    Posts: 5,088

    Staff Member

    Helps to be recently retired......asshole :D

    Not all of us are ......
  15. Bob Lowry
    Joined: Jan 19, 2020
    Posts: 249

    Bob Lowry

    Also, with Hagerty here in Colorado, they have an endorsement you can add for around $55yr. which allows
    you to retain your car if it is totaled out for any reason, AND they will still pay you the agreed upon
    dollar value that you have declared in your coverage.
    210superair and 40FORDPU like this.
  16. Ryan
    Joined: Jan 2, 1995
    Posts: 19,262

    from Austin, TX
    Staff Member

    Thread cleaned up... Sorry for the distraction boys.
    40FORDPU and 55 Ford Gasser like this.
  17. David Gersic
    Joined: Feb 15, 2015
    Posts: 2,259

    David Gersic
    from DeKalb, IL

    ANPAC did. I got $6 or something like that back.

    Sent from my iPad using The H.A.M.B. mobile app
    210superair and 40FORDPU like this.
  18. My DD insurance co(Safeco) sent me a covid refund.....wasn't a lot but it all helps.

    Recently switched my collector ins to Hagerty...saved $200 a year for the same coverage!
    Had Condon Skelly for 30 years, they kept raising my rates every year, no claims either.
    Was time for a change!
  19. DDDenny
    Joined: Feb 6, 2015
    Posts: 13,811

    from oregon

    Sounds like Hagerty needs to be a HAMB Aliance member!
    warbird1 likes this.
  20. Squablow
    Joined: Apr 26, 2005
    Posts: 14,545


    I recently switched to Hagerty because I found out my previous insurer would not cover mouse damage in storage, which luckily I haven't had to deal with but it's a huge concern here. Long, cold, salty winters means a lot of storage time, unfortunately. A bit pricier but worth it I think. Also their roadside assistance (kinda like AAA) is nice to have if you're going on a long trip. Haven't needed it yet but good to know it's there.

    I would bet a big portion of the claims on collector policies are due to building collapse, fire damage, theft/vandalism, and maybe flood damage, rather than accident coverage, so I wouldn't expect any great rate change.

    I do have a shop truck and a winter beater which I did get an insurance kickback from earlier this year, was nice.
  21. Automotive Stud
    Joined: Sep 26, 2004
    Posts: 4,130

    Automotive Stud

    You already know what any classic car insurance company reply is going to be. They insure at a better rate because there's already the understanding that your car is limited use. Just because car shows were canceled, you still could take your collector car out any time you wanted. You chose to drive it less than normal.
    40FORDPU likes this.
  22. Lloyd's paint & glass
    Joined: Nov 16, 2019
    Posts: 2,777

    Lloyd's paint & glass

    Had my 57 wagon on my policy with all of my new stuff, liability insurance only on the wagon, cost was about $250 a year, i moved it to Hagerty, full coverage, no deductible, valued it at $20k, and now i pay $330 a year. Can't beat that. But if they start raising it every year they'll lose me.
    Squablow likes this.
  23. Like Mark I use my cars all the time, I stopped by an informal show a month ago and a lot of the guys there were telling me it’ll probably be the only time their cars will leave the garage this summer. They were pushing the cruise to town as a reason to stick around, I drive the Chrysler almost every day, the days I don’t is probably because I stayed home.

    Sent from my iPhone using H.A.M.B.
  24. 911 steve
    Joined: Nov 29, 2012
    Posts: 602

    911 steve
    from nebraska

    JUST FYI, I have grundy coverage on my 40 sedan with no complaints. when I rebuilt it 5yrs ago I was able to change the coverage since I wasnt driving it. kept same agreed value as before for half the money. sent periodic pics showing work done & increasing value. got new agreed value when done. I pay $275 for $42,000 value. 2016-04-26 00.54.53.jpg
  25. 911 steve
    Joined: Nov 29, 2012
    Posts: 602

    911 steve
    from nebraska

    before pic 5-9-08d.JPG
    PONTNAK123 likes this.

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