Hagerty Collector Insurance Rate Hike
 

So I have had Hagerty collector insurance on the '85 for the last 4 years and the policy is up for renewal on April 1st. When they sent me the "offer" for renewal this year it included a 60% (approximate) rate increase. When I called them earlier today, hoping to discover that they had made a mistake, I was told that their underwriters had noticed an uptick with claims and losses for 80's vintage vehicles so they instituted rate increases for policies on said vehicles.

I haven't had any tickets, claims, accidents, etc. I'm just curious if others out there have seen the same.

I haven't seen any increase yet, but even with a 60% increase, it will still be pretty damn cheap in my humble opinion...

mine went up as well this year. not quite 60% but a little less than 40%. since my car is down right now while i build it, i went ahead and only put liability for $100 a year.

I haven't gotten mine yet, hoping that it doesn't go up that much. I think the car was driven 500-700 miles last year and 200ish of that was on a race track where its not covered anyway.

I haven't checked in a while, you're making me nervous now... I haven't had one insured for over 2 years so I'm not up to date on the price at all. I need to put the one I'm building on full coverage once it's done, just in case something happens.

As much as it sucks, it's probably a good thing - means you're more likely to get more for the car in the event of an accident or totaling the car out somehow.

If you don't mind me asking, how is your insurance only 100 bucks a year? I have just liability and a perfect driving record and its still 56 bucks a month per car and right now I have 3 cars on it.

^Yeah, I just checked and for me it would be almost $100/mo...Hagerty won't even insure me. Probably because I'm 21 years old and single, even though my driving record is spotless with no accidents or tickets on my license ever!

i only pay $100 cause it's only insured for $3k or so, whatever the minimum is from hagerty. i'm also almost twice the age of DIR sooo...old. once car is built, i'll up the coverage again to a stated value of $10k, depending on how much they charge me. this last renewal, they wanted about $350 for $7k if i remember correctly.

I have an agreed value with hagerty at $5000, which was the minimum they would allow at the time I got the policy. My math might have been off, but my yearly policy for full coverage and $100k/300k liability went from $180 to $270 so its STILL significantly cheaper than the quote I got yesterday from AAA to add the rx7 back to my "regular car" policy; even with multi-car discount.....

I'll likely stick with Hagerty, but I appreciate everyone's input and info.

Both of my RX-3s have been with hagerty for years; each insured for $20k stated value (i actually spent north of $10k per vehicle fully restored), $300/year full coverage, no more than 7500 miles. No increase in premium.

Man, that's stupid cheap. I wish I could qualify for that insurance...but I'll stay young while I can :bigthumb:

I have American Collectors insurance and haven't see any increase for the last 5 yrs. hope I didn't jinks myself. No claims or tickes

I have Hagerty on my SA, it covered for 10k agreed value. I just got the bill yesterday and it went up $22 this year. I am going to pay $230 for the year.