Not Ranked
lynn. you caught hagerty sleeping. they have NOT written new policies on cobra replicas in almost two years, just grandfathering the coverage on their previously insured . hagerty had a major payout on a death accident with a cobra replica and paid out almost 1/2 mil on one claim (the max coverage that policy carried). not long after that, no more new cobra policies written !
about 1 yr ago , at renewal of individuals policies , hagerty began raising the rates prox 60% but REDUCING the liability.in mich, that meant they took it to 10/20 ( state required minimum levels) as i recall, which is ZIP as well as adding a deductible.
the rate was not as much a concern as the LIABILITY decrease was....ya gotta have adequate liability coverage on these cars or kiss everything else ya own goodbye ! this is a litigous world and you can count on a law suit. for those that dont carry liability or have bare bones minimum, you better not have any assets other than your car !
good luck in insurance shopping. before long it won't be how much does it cost, but can you get coverage at all !
too many wrecks . too many deaths. too many injuries as a percent of their portfolios. too much risk for insurance co's that are seeing their incomes hurt by the down stock market and their ability to make adequate returns on their outside investments that really pays their bills vs our premiums. bill
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