Agreed upon value insurance policies

[9kracing]

Canada data point: Hagerty
2002 M3 Cabrio stock
$30k agreed value
$2m liability
$500 deductibles
$1100/year

$1000 deductibles was only like $40 cheaper

Finally someone who's not under insured!

2M, got damn

[YYZ-M3]

Canada data point: Hagerty
2002 M3 Cabrio stock
$30k agreed value
$2m liability
$500 deductibles
$1100/year

$1000 deductibles was only like $40 cheaper

[9kracing]

If you don't mind me asking, what is the valuation or agreed value on your m3?

90K but it goes up every quarter.

[bmw m3 s50]

I currently only have the one vehicle with Hagerty

If you don't mind me asking, what is the valuation or agreed value on your m3?

[9kracing]

I currently only have the one vehicle with Hagerty

[bmw m3 s50]

When I just put my info into the website, it was like $2400 a year.

I physically talked to an underwriter, and she got it for $1300 a year, for actually more coverage.

Try calling.

Is that on one car or multiple cars? I believe that I talked to the Hagerty agent directly and got that $5k quote.

[tnord]

mine is through state farm, so I'm not sure what kind of arrangement they have. I'm sure it helps bringing multiple vehicles and HO as well.

[9kracing]

How are you guys getting such cheap rates with Hagerty?

When I just put my info into the website, it was like $2400 a year.

I physically talked to an underwriter, and she got it for $1300 a year, for actually more coverage.

Try calling.

[bmw m3 s50]

Anyone here from PA with American Collectors?

I saw a massive jump in my premium this year. Over a 55% increase with no accidents, claims, or tickets. I have three e46 M3's with, two valued at over $50k. Premium was almost as much as what I pay for my daily drivers while 90-95% of the year being stored in my garage.

Tried going with Grundy's but they refused to insure me for my requested value. No point of insurance if when you need it, you don't get the coverage that you need. This was after sending them mountains of invoice and data substantiating the value of the m3's.

I called Hagerty's like two years ago and they wanted close to $5k a year which is insane for a collector policy. How are you guys getting such cheap rates with Hagerty?

[tnord]

I dunno. Why would the agent ask the question if it didn't matter?

[9kracing]

That's my point, there's no verbiage on any policy I've ever seen limiting milage, I don't think that's a thing

[tnord]

I'll take a look. when I was getting the policy they asked if any vehicles were under 7500 miles/yr with only two drivers, so I assumed that question applied to all vehicles, but maybe not.

Edit; I checked and didn't see anything about mileage limitations on the declaration page, but I didn't see anything on my other policies either.

[9kracing]

... with limited mileage ...

There's no text in the policy regarding milage. Do you have a copy of your policy stating a mileage limit?

[tnord]

I just went the same route, $25k value through Hagerty (via State Farm) with limited mileage cost me basically the same as my liability only policy through AIG.

[DepthPatrol]

Data point for the group… Hagerty policy $25k declared value. $440 annual cost for barebones coverages for liability and property damage.