Which Insurance Company

I use Hagerty.  Cost is about what you were quoted for an agreed value policy.  My advice when folks are deciding on insurance: always choose an "agreed value" policy, NOT stated value, and abide by the policy rules.  If you feel the rules are too restrictive, pay more to get more relaxed driving conditions.  

 

Some of our members think they are fooling the insurance company by using their cars for events that are not permitted.  Unfortunately, this will result in "coverage denied" claim if an accident occurs outside of policy limits and/or conditions.

 

As many of us have stated over the years, most owners can begrudgingly absorb the financial loss of the vehicle, but an indemnity claim for personal injuries/death to a passenger or other claimant could bankrupt anyone.  Get a policy you can live with, and follow the terms.  Insurance companies don't play nice!

"Stated Value" is defined as up to the stated value and is defined by insurance companies in more ways than one can imagine.

 

 

" Agreed Value" is just that, the agreed value that both you and the Insurance Company have agreed on for said vehicle.

 

NTB excellent post Jim 

Amen to what Jim says.  I too went with Hagerty.  I researched a few companies, and they gave the most latitude in terms of where and when I could drive my car. 

 

There was no discussion, nor were there any clauses re: mileage limits, which was nice.  I actually asked for and received a statement (which I am keeping in my file) regarding what type of driving was allowed (beyond the normal shows, tours, and taking it for repairs, etc.)

 

Yes, be sure you get agreed value. 

I have American Modern and paid $400 on my renewal for 6000 miles of driving and a stated value of $30,000.  I haven't had to use them yet so I'm not sure how they'll treat me when something happens.  They came recommended to me by another member who has WAY more experience than me.

I've used Hagerty for my Historical Porsche '82 911 SC and if you are adding a second Historical car, such as a Vintage Speedster ('72 VW pan) the rate will run around $200 for the second vehicle. That's my experience at least. They are easy to work with.

Have used Hagerty on 3 real P cars and both my vintage speedsters and now my new spyder.  Same costs roughly as above with agreed to value.  

 

In Washington,    For my VS I had Hagerty, then changed to Allstate briefly before settling on American Modern when I strated to drive my car to things like picking up the kids from school, date night and work... Hagerty expressed concern with such driving when I called in my renewal.  They would not put anything in writing that confirmed I could drive the car like I wanted to.

 

American Modern, with an agreed value policy, has a specific rider allowing you to use the car to "drive to work"  up to two days per week, 104 days per year, with a mileage limit of 6000mi/ yr. if you want to drive more miles, you can increase your driving limit.... As long as you show proof you have a regular daily driver car Licensed and insured.

 

They will send you a copy of your policy with this specific rider and all relevant small print, and even include those specific task you request for your piece of mind in the policy-- running household errands, driving family members to school, social activities not related to car club events, etc.,,  

 

Having a specific rider describing my usage made me feel significantly better.... And I do drive the car virtually every day when I'm in seattle.... Which with local weather means I'm driving it virtually every non rainy day with piece of mind that she's covered by insurance.

 

Price was comparable to Hagerty... 

 

Good luck and happy driving!

Has anyone used Grundy. They are a big name, but somehow came in at $275 for the same coverage as Hagerty or the others. What am I missing? 

As I've stated a dozen times before Hegarty will not put it in writing that you can drive your car to work but American modern will.  Hagerty will tell you it's okay if you drive it to work occasionally, but when you ask them to put it in writing they refuse.
Search the SOC and you will find volumes of discussion about this topic.

I've had American Modern for years. I have the Speedster, a 63 Plymouth 426 Max Wedge and a '15 Corvette, the total premium is $991 a year. It sounds like a lot but another company I priced wanted more than that for the Corvette alone. I've got a limit of 3,000 miles per year on each car.  You can drive it anywhere just not over the mileage limit.  All insurance companies have to observe certain rules to do business in your state so I wouldn't worry about them paying on a claim.

I have American Modern. After a fire on my VS they paid straight away. No issues.

How was the process? Did they grill you (no pun intended) on why/where you were driving your car?

No, simple: I was by my house for a quick spin and Police report.
Nothing else was needed.
BTW two blocks from my home when it happened.

Here is the potential issue with all the collector car insurance companies.   The policy will state that you can only "drive the car for pleasure" and their definition of pleasure is not the same as ours.  We believe that every time we drive the car it is for pleasure,  but they do not agree.  To them, driving the car to work, to the grocery store, to the car parts store is for a reason other than "pleasure" and I'm not an attorney, but they could probably win that argument.  They consider going to car shows and driving for no other particular purpose to be driving "for pleasure."  So, if you want to drive your car for any other reason, get an endorsement for it in writing on your policy.  I have American Modern and have an endorsement that says I can occasionally drive my car to work.
If you have your car registered as a 60 something VW with a regular car insurance policy (not agreed value) and it is totalled, you're taking a BIG risk.  You will be paid the value of a 60 something VW, most likely a couple thousand dollars.
If Theron has not already done it, it would be great if he put all this information in a locked thread that we can point people to every time this pops up.

My beautiful drive (12 minutes) to work is a pleasure!

Well said Troy!

I have Grundy, which is not an insurance company but an agency for Philadelphia something. Cheap for agreed value at like $150 a year but I have to check my agreed value--I think it's about $6k. I should probably call them and make it about $10k now that the Suby's in it.

ive had great luck with grundy(Philadelphia indemnity) my Tiger got sideswiped in a parking lot hit/run, come out of store and its damaged..they coughed up $5200 without a wimper