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Cobra Insurance
Hey, all!
I finally purchased a Cobra replica (Unique) and have been working with my insurance company to get it insured. So far, Hagerty is running around $641/year (2500 miles annually). I contacted MidWest Classics and got a quote through American Modern for $344/year (3000 miles annually). All coverage appears to be the same other than with Hagerty there is a $70 annual to join their club. With Hagerty there has been a lot of back-and-forth and I am still waiting on approval. What has been others experience with Hagerty and/or American Modern? Thanks! .chris . |
I would call Robbin Terry at Midwest Classic Insurance:
Robbin R. Terry, CIC POB 229, 110 So 5th Street Auburn, IL 62615 888.271.4000 (phone) 217.438.3347 (fax) Office Hours 8:00-4:30 CST Mon-Fri www.midwestclassicinsurance.com He is well known on this site and represents American Modern, Hagerty, and American Collectors. I have not had to submit a claim, but I have been working with Terry for almost 15 years and have no complaints. |
Oh yes, and congratulations on your new Cobra!!
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Robbin is the person I contacted, very responsive and helpful!
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Thanks! Lets see if the picture uploads....
.chris . |
American Modern...
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Umbrellas typically have to include all vehicles including daily drivers. Prices go up if all vehicles and home aren't with same company
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Another vote for Robbin Terri and Midwest.
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Another for Robbin.
Also, small fender bender last year and American Modern paid with minimal drama. John |
I have a stated value policy for my Unique under Auto-Owners Insurance. They simply asked its value and applied the coverage to the policy.
I was coming from Grundy, which had mileage limitations and a higher yearly premium. Finding that I could bundle the Cobra with our other vehicles, remove the mileage limitation, and save money was a no brainer. I had a copy of a recent appraisal and offered to send it to them, but they declined. |
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Stated vs agreed value
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"Stated Value" means NOTHING when it comes to paying a claim. :CRY: It is simply used to set your premium. Read your policy's fine print, and you'll find that they'll pay actual cash value UP TO the stated value. "Agreed Value" is an insurance contract with a value AGREED upon by both parties, and they will pay the agreed amount in the event of a total loss. |
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I went back and read through my insurance documents, and it was set to an "Agreed Value" in the declarations. I will give them a call this week and see if I can get any more detail on how they would treat the valuation in the instance there was an accident. The fine print states that - "One or more automobiles showing in the enclosed declarations are insurance on an agreed value basis. In accordance with your policy's provisions, total losses will be settle on the agreed value of the automotive at the time of the loss as advised by "AV" in the declarations." |
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