Collector car ins.

[Mike M.]

Not insuring wife

I would pay extra for that policy.

[David K.]

Re: How about claims

Patrick, I was surprised as well about my wife. I did contact the Ohio BMV and got a copy of our driving records. I was expecting maybe a surprise, that my wife neglected to tell me of. This was the only issue. She was involved in an accident in Dec. at a blind intersection. She kept creeping out to see and finally when she was out in the lane of traffic so she could see, she hit a car. She was cited for a stop sign violation and the accident. These are considered 2 incidents, though they were in reality the same incident. She did not techincally run the stop sign, she was attempting to see around this blind intersection. The officer who wrote the citation, knew exactly what happened here, but said that since this is the only way he knew how to write it. But, paper work, is only black and white.

[Jim T.]

Re: How about claims

If the officer that wrote the ticket did not see the incident, could you protest the ticket in court? Running a stop sign and hitting a car is a ticket I would not want on my record.

[Patrick H.]

Re: How about claims

Agreed. I think I would have visited court on that one.

Did you talk to Hagerty on the phone? I suspect that an explanation may get you somewhere.

Since my wife never drives my Corvettes (but legally "can") I also can't say I'd worry if my wife "couldn't" be insured on them for a while.

Patrick

[Jeff G.]

Re: How about claims

Let me see if I can provide some info here. I have an agency with Farmers in San Diego and I can tell you that we do things very simular to State Farm. What most of you should know is that there is a "stated value" policy and a "agreed value" policy. The stated value policy that Farmers and State Farm writes means that they will pay up to the amount stated if at the time of loss the car is worth that amount. In other words, you may have to show some proof that the value you stated is correct. That is why we like to have an appraisal, and pictures (although it is not mandatory) but as someone said, who knows our own car more than us? The agreed value means that you and the company have already come to an agreement on the price and there should be no questions asked if the car is stolen. Obviously the agreed value policies are better in that sense, but on the other hand, there are some benefits to the stated value. One is that you will have a personal agent which is why I'm sure most of you are with one of the two companies currently. That agent if he is a good one, can go to bat for you if there is a problem with claims. I have personally turned claims around for customers when I knew that it was the right thing to do.
Some of the collector car insurance companies that we all know can have restrictions and are more expensive. I've had people tell me that all the cars need to be in a locked enclosure or they won't insure them at all. Some will not insure you if you have a ticket or accident. My best advice is too call around and go with your gut feeling. Most of these companies are very good and there is no one comapny that is best for everyone. Having said all that I have my own Corvette stated value with Farmers for $80k. The cost is substantially lower than the other companies I tried. I do write agreed policies thru J.C. Taylor as well and have heard mostly good things about the other well known companies too. Hopefully that helped some of you, but feel free to let me know if I can answer any questions.

[Brian K.]

Re: Collector car ins.

I own an insurance agency in NJ. I have had problems with most of them because they won't match the uninsured motorists limits or won't issue limits high enough to satisfy the umbrella policy requirements (you do have an umbrella, don't you?).

I have had the most luck with Condon & Skelly & JC Taylor. I would think one at fault accident shouldn't be an issue.

Brian

[Patrick H.]

Re: Collector car ins.

FYI, Hagerty did match the limits of my umbrella policy. The increase in limit (as compared to their "norm" or standard policy) was nominal.

Patrick

[Daniel E.]

Re: How about claims

Patrick,

I have State Farm Insurance and pulled the policies for both of my cars (67BB and 65SB roadsters) to verify the collectors car insurance portion. The only thing I see that indicates this is Endorsement 6171AG Antique or Classic Motor Vehicle. Is this what you are referencing when you say "collector car insurance"? I don't want to lose out if something unexpected happens and I need to make a claim. I have always questioned my insurance agent about the agreed value and they tell me not to worry I am covered as my policy has the endorsement 6171AG and indicates the vehicles value.

Thanks
Daniel

[David K.]

Re: How about claims

The officer regretted writing the stop light violation, but since there was an accident and it was my wife who had the stop sign, it was her fault. Unfortunately, it all makes sense to me. Hard for me to dispute it.

I talked to Hagery three times about this. Once when they called me and told me that I could not have her on the policy and then another two times, after I got a copy of her driving record from the BMV. One lady, was not a lady at all!(I think she chased cars when not at work) The other lady was a very nice person. She said that they could take it back to their underwriters for a review, but that she has never seen them reverse their "policy" yet. But, she was willing to try.

I was out of town today and have not been able to check with other companies beside "American Collector Insurance". I shared the BMV report with them up front. Might as well, they are going to check any how. Any rate, they had no problem taking her and I on as a policy holder.(cheaper as well) I don't feel like begging Hagerty to take my money. Others are willing to take it, so I will pay them. Now, to make qualified choice.

My wife will probably not drive the Corvette. But, if she absolutely had to, I don't want her to violate Ohio law, by driving without insurance.

Thanks all for the feedback. I will look into the companies mentioned. Again, thanks for your help.

[Jim S.]

Re: State Farm Policy

State Farm antique policy is actually endorsement 6171P.3 Antique or Classic Motor Vehicle.

If you read the fine print under #1 Coverage: it will read that coverage applies only when used in parades, club events, public interest and occasionally for pleasure and business. There is no mileage limitations but if proved vehicle is driven daily could cause coverage issues.

Under # 2 indicates limit of liability is the lower of actual cash value or cost of repair. The important part here is the statement that follows saying you and SF AGREE the actual cash value is the amount shown on the declarations page unless the vehicle has been previously damaged, is missing parts or vehicle condition has changed due to abuse or neglect. Make sure the value listed on the dec page is correct.

It is always a good idea to keep your agent advised of your vehicles condition or at the minimum keep current pictures documenting condition. If you can show your vehicle is in the same or better condition you will not have a problem with claims.

This policy also cover $500.00 of spare parts.

When I insured my 66 years ago, I told the agent what I thought it was worth. He took photos and submitted it to underwriting. SF came back with a value $10,000 higher than I asked for and with no apprasial. They must use a publication such as CPI to determine value or at least get in the ball park. Obviously I agreed. Been with them for close to 30 years with several claims but no issues.