NOT happy with Hagerty Insurance

[BAsque1]

Folks:
Back in the 70' I was an Insurance agent, and I have Hagerty now, I never had a problem with them and this is my 2nd car with them. I do have to say that from the inset they were very clear about where to drive the car, work and errands to the shopping center were not allowed, even on nice days.

I tried insuring my fully restored Bronco 1996 which gets driven maybe 2500 /year, they did not want to do it for the car is not 25 years old and it can be used for regular use even though is not.

I also understand that a Japanese conglomerate now owns Hagerty so things might have changed a bit.
My 2 cents on the matter
Basque 1(Lou)

[motordean]

I just switched from Hagerty to America's Collector Insurance - very happy thus far as I saved money and have a higher fixed valuation!

[joyridin']

Originally Posted by Paul F

Same here.

I have Erie Insurance. I pay about the same. The nice thing is in the Winter, I knock it down to Comprehensive while it is parked and it costs about $81 for 6 months. I still get the multi-car discount on top of it all.

[DanEC]

Originally Posted by motordean

I just switched from Hagerty to America's Collector Insurance - very happy thus far as I saved money and have a higher fixed valuation!

See post #15 above. I had American Collectors for 12 years before I tried to insure my Cobra with them. They were completely unreasonable. Apparently you found some one more level-headed in their orgainization to work with.

[buddyg]

Very stupid if you can't drive your cobra to work once in a while. I told them it would be safely and securely parked outside my office window!

No problem with American Modern

[Rjw289]

I went online last year and received a ridiculously low quote from Haggerty. Called and spoke with them and the quote doubled. My insurance broker called them and after a short discussion the price was about in the middle of he two previous quotes. He signed me up with Haggerty, paid them online for me and invoiced me. For some reason he called them the following week and they told him they cancelled the insurance policy because they "do not insure Cobras anymore". I went to American Car Collectors which I have a 1967 Vette with and they appreciate my business. Definitely not pleased with the way we were both treated by Haggerty!

[Nedsel]

You can lay your anger at the feet of the broker, but it is more likely the underwriting rules that they must enforce that are causing the problems. Some are simply more lenient than others in terms of what they will allow. The fact that Hagerty is larger than the next few classic-car insurance companies combined says something about their service, and thus far I haven't heard anyone discuss how their broker handled an actual claim, just comments about premiums and coverages. Wait until you need claim coverage and your standard insurance adjusts the value of your car down for unspecified reasons, and you will very likely see the difference in some unpleasant ways.

[Rjw289]

Hopefully I will never have a claim but I do have agreed upon value insurance. Plus I have a broker I have worked with for 30 years that would always support me.

[buddyg]

Agrees value with annual CPI increase

[GTBill]

I have been very happy with Grundy Ins.
They not only cover the Cobra and '69 GTO , they cover by '05 MB SL 65 as well.
I had received $2500.00 damage due to "hit and run" to my '70 SS454 during a "Cruz in". They covered it with no drama. Good people.

[dave from mesa]

Originally Posted by Clois Harlan

I have had my Cobra and Daytona Coupe insured through State Farm for 14 years. No problems ever. Premium is about $200 every 6 mos.

Clois

Same here and they treat it like regular car. Drive it anywhere anytime.

[twobjshelbys]

Originally Posted by Rjw289

I went online last year and received a ridiculously low quote from Haggerty. Called and spoke with them and the quote doubled. My insurance broker called them and after a short discussion the price was about in the middle of he two previous quotes. He signed me up with Haggerty, paid them online for me and invoiced me. For some reason he called them the following week and they told him they cancelled the insurance policy because they "do not insure Cobras anymore". I went to American Car Collectors which I have a 1967 Vette with and they appreciate my business. Definitely not pleased with the way we were both treated by Haggerty!

When I bought my Cobra at the Barrett Jackson auction in Jan, 2009 I visited all of the insurance carriers and Hagerty's rep told me they were not insuring Cobras at all [at that time]. They had had a couple of huge losses (multiple including deaths) and they decided they couldn't have the risk any more.

I had mine with what is now AIG Private Client Group (branded as Barrett Jackson insurance, which happened a few years after I started with them) and the Cobra premium was for a CSX was about 0.40/100 in agreed (or is it stated?) value. My Ford GT is now at $1/100 since they really don't want to insure newer high performance cars, but their rate is still lower than anyone elses.

Note that these rates were ONLY for the loss of the vehicle. The rest of the liability (medical, etc) is included with AIG as brokered but adds a couple of hundred per year for the standard state coverage. Their recommendation was to do an umbrella policy as well...

[BAsque1]

Originally Posted by BAsque1

Folks:
Back in the 70' I was an Insurance agent, and I have Hagerty now, I never had a problem with them and this is my 2nd car with them. I do have to say that from the inset they were very clear about where to drive the car, work and errands to the shopping center were not allowed, even on nice days.

I tried insuring my fully restored Bronco 1996 which gets driven maybe 2500 /year, they did not want to do it for the car is not 25 years old and it can be used for regular use even though is not.

I also understand that a Japanese conglomerate now owns Hagerty so things might have changed a bit.
My 2 cents on the matter
Basque 1(Lou)

OK, I stand corrected: after this post I received a call from a nice gentleman from Hagerty today and he clarified to me that Hagerty is still fully owned by the Hagerty Family vs a Japanese conglomerate. I did hear this rumor at a car show last summer so rumors are not TRUE.

He also restated the same I said not many insurance companies of vintage cars are enamored of these vehicles used as daily drivers or even occasionally shopping. This is for obvious reasons, you are placing that car at an unnecessary risk.

I must agree with him. I am very annal about my car so this is a no brainer my car comes out only in good weather and only to shows and rides. No competitions or tracks, shopping malls or work. If I can't supervise its well being it is not going there.

I have no comment on them insuring your vehicle and telling you after the fact that you are not insured due to the above conditions. That sounds like a miss communication, but that is something that you need to re-address with them privately.
I must say that in the time that I have been insured by Hagerty, I have nothing but the best customer service ever, extremely corteous and accommodating.
I hope that this settles the Hagerty Co ownership issue.
Sincerely
Lou

[buddyg]

Forums are for sharing info so there is no need to do it privately.

[DanEC]

Originally Posted by BAsque1

OK, I stand corrected: after this post I received a call from a nice gentleman from Hagerty today Sincerely
Lou

You received a call from your insurance company about a post on this thread????? I'm glad I'm an extremely careful driver, never exceed 45 mph, always use my turn signals, always come to a complete stop, avoid jack rabbit starts, will never drive my Cobra within 10 miles of my place of employment or a Walmart, only venture out in the wee hours of the morning when no other cars are on the road, never leave it unattended, keep it tightly secured in a tornado-proof, alarmed garage each night with two trained German Shepards watching over it. I think that does it - just saying. . .

[stephen_becker]

Does Hagerty insure anybody's Cobra right now? I am to understand that 10 years ago McKeel Hagerty decided to only insure Carroll Shelby- built CSX cars - Has that changed?

SGB

[Nedsel]

They insure mine, and it's not a Carroll Shelby CSX car.

[BAsque1]

Originally Posted by DanEC

You received a call from your insurance company about a post on this thread????? I'm glad I'm an extremely careful driver, never exceed 45 mph, always use my turn signals, always come to a complete stop, avoid jack rabbit starts, will never drive my Cobra within 10 miles of my place of employment or a Walmart, only venture out in the wee hours of the morning when no other cars are on the road, never leave it unattended, keep it tightly secured in a tornado-proof, alarmed garage each night with two trained German Shepards watching over it. I think that does it - just saying. . .

Yes I did, I guess someone from the forum contacted Hagerty regarding my post of Hagerty being bought out by a Japanese conglomerate, which was not a true rumor and he wanted to clarify that with me. I have never had a bad experience with Hagerty, seriously. They are very customer service oriented.