Agreed upon value insurance policies

[theOracle]

I ended up doing an agreed value policy with my current insurance company Liberty Mutual. I asked all the common questions about mileage, recreational drives etc. Their price was roughly the same as Hagerty.

45k value
$830 annual premium.
500/500/500 coverage.

easy to keep 1 policy for everything than split the car off.

[elrichmeister]

Does Hagerty have a mileage cap on these policies? sorry if was mentioned before, but there is a lot of pages lol. Current Insurance covereage ends in September and i see some of these rates are better than i currently have.

[sd561]

Haggerty reference point:

I was told to standby to provide receipts of my nut & bolt suspension restore/racp + rogue reman engine but ultimately their underwriters approved it instantly for my 06 individual zcp smg. 114k chassis miles and 2k on the new engine

value: 60k
premium: 2100/yr
coverage: 2 drivers
policy coverage: 100/300/100 w matching UM/UIM
Raleigh

[Keith_MN]

Another reference point, recently renewed mine through Hagerty. I got the same thing, was surprised at some of their valuation increases.

Minneapolis
$30k value
$795 annual

I arbitrarily set the value when I bought it, probably will look at bumping that up for the next round.

[9kracing]

Data Point -

At a certain level, Hagerty will actually require "proof of value" when you try to get crazy with valuations.

Pictures of my car was not enough.

I had to provide an excel sheet with every mod, MSRPs of those mods, links to items, current Hagerty value, etc.


The good news, is that Hagerty keeps increasing the base value of our cars.





My value is now $150,000 but it raised my total cost by $800 a year.

They balked at doing $200,000 and I decided not to press the issue for now.

[bagger]

I contacted my SF agent today, they don't offer Classic+/Hagerty in my state yet, but,, they offer their Antique/Classic product. How are you guys arriving at the "value" when it comes to sales data, mods, maintenance, condition, etc?

If have SF/Hagerty. I just looked at how much I had into it (at the time) - which like a lot of us, is at least double what it's worth. My SF guy threw it into the underwriters, and it just got approved no problem. I was prepared to show receipts if need be, but didn't have to.

I have 60k as my value. $1100 per year with normal coverage, cherished salvage, etc. Good enough for me.

[SQ13]

Interesting….mine is insured for $50k and it only costs $350/yr. The GT3 is hella cheap too.

[tnord]

I just picked a number I thought I could realistically sell it for.

[PSUEng]

I contacted my SF agent today, they don't offer Classic+/Hagerty in my state yet, but,, they offer their Antique/Classic product. How are you guys arriving at the "value" when it comes to sales data, mods, maintenance, condition, etc?

[bmw m3 s50]

Strange, these policies seem to be all over the place. I'm with Grundy in PA (underwritten by Philadelphia Ins Co) with $45k value (102k mile '03) for $600ish annual


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I got an excellent rate through Grundy but then they gave me the run-a-around during the application process and refused to insure the any of my cars for over $45k which is pointless by being underinsured in case of a total loss. Also in PA in the Philadelphia area.

[bmw m3 s50]

90K but it goes up every quarter.

Wow, I am paying almost the same for two of my m3's but do not have a 90k insured value and it's with another company. How are you getting these rates in CA??? Especially with the wildfire losses that recently occurred.

[tnord]

for Hagerty, you get different rates if you request a quote directly through the website as a standalone policy vs if you quote it as part of an overall H&A bid. Mine is via state farm.

[Phoenix///M3]

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?

Strange, these policies seem to be all over the place. I'm with Grundy in PA (underwritten by Philadelphia Ins Co) with $45k value (102k mile '03) for $600ish annual


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[YYZ-M3]

Finally someone who's not under insured!

2M, got damn

Pretty standard up here. Premium is $32, not sure what it would have been for less coverage.

[tnord]

spoken like an agent?