Classic car insurance

[Gordon Peterson #4961]

Hagerty

I've been in a similar thread a while back, discussing insurance in general and Hagerty in particular. I was informed by one of the other participants that Hagerty did not cover your Vette if you were parked outside overnight at an NCRS event (i.e no locked garage).

I had occasion to talk to Hagerty a few weeks later, so I asked them - Is this true? No. They encourage owners to participate in club events, ESPECIALLY organizations like the NCRS. I was told, "If you are parked outside overnight participating in an NCRS event, you ARE covered by Hagerty." I encourage you to check for yourselves. She might have just liked the sound of my voice

Oh, and I also asked about those quick stops at the store going to/from an event, during a tour, or even on a test drive. Use your common sense. A few minute stop is typically not a problem. An hour parked at the local mall? Hmmm no, not good. And whatever you do, DO NOT drive your Vette to work! I guess they really don't like that.

Pete

[Paul Crosby]

Re: Hagerty

I went with Robin at www.midwestclassicins.com. Hagerty and Grundy wouldn't qualify me because I never had 2 cars 10 years or newer even though my 92 BMW conv. only has 98K on it which is probably a 100K less than 5 year old cars these days and they have all the good stuff that the other guys have PLUS you pick your mileage whether it will be 1k,2.5K or 5K per year!

Good Luck, Paul

[Jack W.]

Re: Please share claim experience

Dave - As for taking what an insurance policy SAYS and translating that to real world claim-handling performance of an insurance company or its managing general agents for a classic/collector car program (like Grundy or Hagerty) - in theory, if the policy form used by everyone is the same (I do not know this to be the case, mind you) then the positions taken by the insurance companies (or thier agents) when adjusting claims and determining coverage for claims should also be consistent.

This is not always the case, as some companies take a more agressive position than others on claims, and are comfortable with the correlative increase in consumer complaints lodged with the state insurance departments. But, even with this variable in mind, it all starts with what the insurance policy says, and, to a slightly lesser degree, what you (the car owner) represented to be the case when you applied for the insurance. For instance, if the policy has a racing exclusion, then a wreck at the track will not be covered; if you represented in your application that the car would be kept in a locked garage and in fact you do not even have a garage, and the car is stolen from the street in fron of your house one night, you run the risk of the insurance company asserting that they issued the policy based on your representations and would not have written the policy otherwise. Either scenario results in an opportunity for the insurnace company to take the position that there is no coverage for your claim.

I have the ability to research reported case law on a particular coverage issue such as the application of a policy exclusion for claims arising out of racing. The problem is, there is simply no provision in my Hagerty-issued policy that would work to exclude coverage for a theft claim which occurred at premises other than my locked garage, during my permitted use of the vehicle - I looked and reported on my investigation here a few months back. So, as to that coverage issue, any denial of coverage for such a theft claim under a collector car policy like mine would likely have to be based on a misrepresentation made in the insurance application. And I do note that, as you proceed to apply for a Hagerty policy, they do admonish you that the insurance being applied for is collector car insurance, not for daily drivers, and that the vehicle must be kept in a locked, covered garage "when not in use", etc. However, there is nothing in the application that expands on that theme to situtations where my car is parked in the course of permitted use - no where am I asked represent that I will never park the covered car anyplace other than my own locked garage while in the course of my permitted use - quite frankly, that would be ridiculous. I have to pee, I have to get gas, and I get to park my car in order to do these things or at the car show, at the shop on the way or during pleasure driving. Think what you will about insurance companies, but even the hard @ss ones rarely take utterly ridiculous positions without any support in the insurance policy.

I would love to hear from any out there having experience with a theft claim under a collector car policy. I have had an SUV and a motorcylce stolen (both brand new, by the way), but those were not insured under the type of coverage we are concerned about here.

On the general topic of collector car insurance, a good general article for understanding the special insurance issues and needs in the collector car arena can be found here: http://www.classic-british-cars.com/...insurance.html

[Dave F.]

Re: Please share claim experience

Jack - thank you very much for the information, and the referenced hyperlink. Most helpful.