Semtex

I just did their online quote service for my 94 and it quoted me 400/yr less than 100 miles from Mexico. Just wondering if anyone has used Hagerty in the past and how they liked it?

jeff p

They told me they will not insure mazda rx7's their not collectible enough.
Jeff

rynberg

Exactly, how did you get a quote? I tried to get one through their website and was told my car was not old enough.

FDNewbie

iTrader: (10)

See my post here: https://www.rx7club.com/3rd-generation-specific-1993-2002-16/higher-than-book-value-ins-475120/ I explained EVERYTHING, from every single aspect

~Ramy

impactwrench

I have been insured with them for 3 years. Listed as a showcar, although I don't use it for shows.

tsmysak1

I talked with them some on the phone... There was a pretty low mileage restriction... So I went back to my regular insurance company. For stock cars, you can get an insurance company that will pay well. For custom cars, well, it is way more difficult to get good coverage unless you trailer your car and keep the mileage low.

impactwrench

Mine is listed as Exotic with them and usage listed as infrequent. There is no mention of actual mileage numbers.

saxyman990

Check with Grundy. They're a little better with modern cars than Hagerty is. I'm not a big fan of all the runarounds and policy restrictions that Hagerty has. I think Grundy does a little better job where this is concerned.

-Rob

Beast From The East

I pay them $200 a year to cover my 71 Triumph, but my RX is my daily driver, and I don't have room in the garage for another car.....stated value on the TR6 is 15K. I lost a splined knock-off that caused some pretty good damage to my car, and they paid up ~ $1400 for the parts and my labor ($25 per hour, using flag rates from a shop book). All in all, they have done right by me.

However, the policy is for collector cars, so no daily drivers.

Beast

Semtex

Incredible write up Ramy thanks for the advice. Since it seems we have covered the Hagerty angle any users of Grundy??? What started all of this was talking w/my insurance company and getting the very vague "we can't tell you how much we will give you for your car if it is totalled" line of BS. I could not believe that they could not even give me a rough estimate of my cars value, yet their premium isn't multiple choice. I do have the advantage of my 7 being garaged, not daily driven, no tickets since my junior year in high school (about 15 years ago), so this all makes it easier, I just don't want to get a check for $5K if something god forbid was to happen to my car you know!


Venting and looking for advice at the same time! Thanks to all that responded.

FDNewbie

iTrader: (10)

Is it stock? Cuz I'm pretty sure Hagerty doesn't accept the FD as an exotic (what I was told). It's not limited production...so I'm guessing you've claimed a substantial amount of modifications to the vehicle w/ them, which is why they offered you coverage?

Rob, you're absolutely right. Grundy doesn't have any mileage restrictions, so long as they are sure you're not using the vehicle as a daily driver (and you also own and insure a daily driver as proof etc). But FYI, Hagerty has mileage restrictions on paper, but you can call in and let them know you're doing to this or that show, and they'll "authorize" the additional mileage. Long story short, they wanna make sure the car isn't being daily driven.

My pleasure

I'm gonna give this warning once, knowing full well ppl will NOT listen to me :-/ Regular car insurance companies (even State Farm, which is widely regarded as the best when it comes to paying out) do NOT have true stated value policies. They will QUOTE YOU a premium based on such a policy, but if you ask them (in fact, they're required to tell you this as well... as a disclosure) that they do NOT guarantee payout of the full amount your vehicle's value is stated at. So basically, it's legal theft. They'll take a premium from you based on say, $30,000, but come accident time, they'll research the vehicle's market value, and could end up paying, say, $22,000. Where'd the other $8,000 go? In their pockets, and yep, they just took you for a ride.

FURTHERMORE, regular insurance companies insure based on MARKET value. Speciality insurance companies like Hagerty and Grundy insure based on REPLACEMENT value...meaning no, the car isn't just worth $30,000....how much would it take to replicate this car to the tee? ALL the labor, ALL the parts, ALL the effort, ALL the rarity, etc... and you'll quickly realize why such FD's can easily be valued at $60,000+

If you're gonna pay money for "insurance," you might as well make sure there's an actual assurance for the FULL payout of your investment

~Ramy

PS: Hint to those who are going w/ Hagerty or Grundy...they have very high deductibles ($5,000 or so) because they don't want to cover repeatedly stolen audio equipment. The easiest way to get around that and have a normal ($100 - $500 or so) deductable is to tell them you DON'T want your audio equipment insured against theft. They should still cover it being damaged in an accident etc, which is a pretty good deal IMO.

Semtex

I'm gonna give this warning once, knowing full well ppl will NOT listen to me :-/ Regular car insurance companies (even State Farm, which is widely regarded as the best when it comes to paying out) do NOT have true stated value policies. They will QUOTE YOU a premium based on such a policy, but if you ask them (in fact, they're required to tell you this as well... as a disclosure) that they do NOT guarantee payout of the full amount your vehicle's value is stated at

^^^^^This is exactly what made me start looking at Hagerty and Grundy. Right on the mark again Ramy! Good advice for anyone taking a gamble on a 12 year old car with a self-destructive personality!!! I will check with Grundy tomorrow for a quote. What kills me is that Tucson is sooooo close to the border w/Mexico even my Jeeps insurance is unbearable>

impactwrench

Haggerty classed ME as exotic. I did'nt tell them what to do. They asked ME what I had in the car and mods. I have not had a claim and do not know what they would pay-out so I cannot say what the actual value of their coverage is. I'm sure they are like any other ins. co. in that they will pay-out as little as possible. You are correct, many mods.