Author Topic: Classic car insurance companies? Which one?...  (Read 1165 times)

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cjshaker

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Classic car insurance companies? Which one?...
« on: November 06, 2021, 09:20:59 AM »
Quick story: I just recently sold my '65 Galaxie, so I got ahold of Haggerty to take it off my insurance. Yesterday, I get a letter from them saying my premium went UP $105. I call my local insurance agent, which I have to go through to get Haggerty, to complain, and they say it's because I lost my "multi-car discount". I said bull@#^$....my premium went up when I added the Galaxie, as one would expect, so how does it go up even more when I take it OFF? Needless to say, I gave them an ultimatum, drop it back down lower than it was, or I'm gone.

I'm sure they won't comply, so now I'll be looking for a new classic insurance company. Who do you guys use, and what is their general policy about driving?
Doug Smith


'69 R-code Mach 1, 427 MR, 2x4, Jerico, 4.30 Locker
'70 F-350 390
'55 Ford Customline 2dr
'37 Ford Coupe

AlanCasida

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Re: Classic car insurance companies? Which one?...
« Reply #1 on: November 06, 2021, 10:02:20 AM »
I recently got classic insurance on my '66 Galaxie and '65 Mustang. I got through my main insurance company, State Farm. They have their own classic insurance. I was able to make my own estimate of value and only had to send them a few pictures. The did say their insurance has a mileage limit of 2500 miles per but my agent said in all the years she has handled this type of insurance they have never been asked to update any odometer readings. I previously had my Galaxie insured as a regular vehicle with a value of $7500 and when I went to the classic insurance I estimated it at $25000 and my premium actually went down a little. 

Stangman

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Re: Classic car insurance companies? Which one?...
« Reply #2 on: November 06, 2021, 11:58:35 AM »
Hey Doug I’ve been using American collectors insurance since I got my car back on the road and they were very easy to deal with. 1 (833) 741-4022. Of course you never really know how good an insurance company is till you need it but they get great reviews. If you want to call me and we can go over numbers. Being our cars are about the same, actually your being a real CJ car will be more but I can tell you what I got for prices and how much my car was appraised for. 1 516 209-7874.

MRadke

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Re: Classic car insurance companies? Which one?...
« Reply #3 on: November 06, 2021, 12:07:40 PM »
I use JC Taylor for my Galaxie.  180 per year with a 25,000 valuation.  I got it through my local agent.

Gaugster

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Re: Classic car insurance companies? Which one?...
« Reply #4 on: November 06, 2021, 07:22:05 PM »
Check out American Modern.

https://www.amig.com/
John - '68 Cougar XR7 390 FE (X-Code) 6R80 AUTO

cjshaker

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Re: Classic car insurance companies? Which one?...
« Reply #5 on: November 06, 2021, 07:28:16 PM »
Thanks, guys. My local agent said they were going to talk to Hagerty, but I doubt it does any good, so I'll probably be looking into the companies you guys mentioned.

There was another local guy with a '60s Corvette that had Hagerty. Last year, someone backed into his car and did damage to the rear quarter. It was going to take some repair work and obviously a repaint of the damaged panel. No matter how much the guy argued with them, Hagerty would only pay $750 for the repair. That didn't even cover paint and supplies. He had to pay the rest out of his pocket. So maybe it's a good thing to be getting away from them, but as you said, Joe, you never know what a company is like until you have to use them. In 26 years of using Hagerty, I've never had a claim.  >:(
Doug Smith


'69 R-code Mach 1, 427 MR, 2x4, Jerico, 4.30 Locker
'70 F-350 390
'55 Ford Customline 2dr
'37 Ford Coupe

rockhouse66

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Re: Classic car insurance companies? Which one?...
« Reply #6 on: November 07, 2021, 07:34:10 AM »
I have used Hagerty for decades and have always heard good stories about their claims service.  However, this concerns me;


In August 2021, Hagerty announced that it would be going [/size]public by merging with Aldel Financial[/color][/size], a SPAC. The merger deal is estimated to be upwards of $3 billion, and it should bring in up to $820 million into the public company. Once the deal is finalized, the company will be traded under the symbol HGTY.[/color]
Jim

BruceS

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Re: Classic car insurance companies? Which one?...
« Reply #7 on: November 07, 2021, 12:40:19 PM »
Doug, +1 with Stangman I also use American Collectors however I've not had to make a claim in the 20+ years I've used them.  The rates are based on my declared value for each of the 2 cars.     
66 Fairlane 500, 347-4V SB stroker, C4
63 Galaxie 500 fastback, 482 SO 4V, Cruise-O-Matic

cjshaker

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Re: Classic car insurance companies? Which one?...
« Reply #8 on: November 07, 2021, 01:47:13 PM »
I have used Hagerty for decades and have always heard good stories about their claims service.  However, this concerns me;


In August 2021, Hagerty announced that it would be going public by merging with Aldel Financial, a SPAC. The merger deal is estimated to be upwards of $3 billion, and it should bring in up to $820 million into the public company. Once the deal is finalized, the company will be traded under the symbol HGTY.

That could explain the increase. It's all about earnings and stock profits now.  >:(
Doug Smith


'69 R-code Mach 1, 427 MR, 2x4, Jerico, 4.30 Locker
'70 F-350 390
'55 Ford Customline 2dr
'37 Ford Coupe

machoneman

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Re: Classic car insurance companies? Which one?...
« Reply #9 on: November 08, 2021, 08:03:00 AM »
Now using Grundy (Philadelphia as underwriter) as Hagerty used to be my insurer. I think my local Hagerty agent, not a car guy, was the reason I switched to a cheaper rate about 5 years ago. Have the '88 5.0 Stang and my '70 Mach 1 Stang covered for declared value. Paying under $500 year for both, no claims, so I can't speak to how they would handle an accident.

More here: http://fepower.net/simplemachinesforum/index.php?topic=9147.msg102013#msg102013
« Last Edit: November 08, 2021, 08:05:46 AM by machoneman »
Bob Maag

Tommy-T

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Re: Classic car insurance companies? Which one?...
« Reply #10 on: November 08, 2021, 12:29:39 PM »
We have Infinity on Mrs.-T's '33 Ford Koop.
$51,000 agreed value and 5,000 mile limit. $483 a year premium.
The car is covered for "pleasure driving", to and from repair shops, and to and from car events.
It is NOT covered for going to work, going to the store, etc.
My agent is a car guy and he drives a Pro Street '46 Ford. He told me if I call to make a claim the phone lines are recorded. No matter what you're doing just say you were on a pleasure drive and it will be covered.
Of course, if your car gets nailed in the parking lot of where you work...you'll have some 'splaining to do. Maybe they were having a car event there.

A couple of years ago Mrs.-T was driving the Koop and I was riding shotgun. We were behind a work truck with pieces of wood in the back. A piece of wood flew out and hit the windshield and broke it big. Scared the shit out'a us! Called the insurance and the car was fixed no hassle at all. I was impressed.