Hagerty Collector Insurance Rate Hike
#1
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 had any tickets, claims, accidents, etc. I'm just curious if others out there have seen the same.
#5
Always Wanting to Learn
iTrader: (49)
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.
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.
#6
life's a drag*)
iTrader: (5)
Join Date: Jan 2012
Location: greenville,sc
Posts: 813
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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.
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#8
Slowly but surely
iTrader: (9)
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.
#9
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.
I'll likely stick with Hagerty, but I appreciate everyone's input and info.
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