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Old 09-24-2016, 03:10 PM   #1
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Collector Car Insurance

Looking for info and opinions from anyone's experience with collector car insurance. I have a car that I have been working on and I've had it insured with Hagerty Collector car insurance. It is through another agency other than the one all my other cars and home are listed with. I am getting ready to buy another collector car that needs almost nothing and I want to get it insured for what it's worth. I found out a year or so ago that my main insurance company can give me coverage under Hagerty for both cars. I never told them I had the one I'm working on insured with Hagerty. The agent that I have the one project car insured with is a nice guy and I hate to get rid of him(he's a real car guy) but I'm wondering if I'd be better with everything at the same insurance agency? For my everyday cars, I have higher liability coverage than most and Hagerty seems to be a normal coverage for liability. Could having these under two different agents cause problems in the event of a wreck??

Thanks for any experience based information you can provide.
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Old 09-24-2016, 04:14 PM   #2
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I have my 23 T Bucket, 75 Chevelle, 2015 Colorado pickup and both of my houses insured with State Farm. I got a much better deal on my insurance by having them all with the same agent.
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Old 09-24-2016, 06:16 PM   #3
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We have our home, my truck, my wife's Highlander and 2 of our 3 Mustangs on one policy. My '66 mustang is with Hagerty. Hagerty was the only insurance company that was willing to insure the '66 for the full amount it was apparaised at. Otherwise we would have had them all under one policy.
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Old 09-24-2016, 06:23 PM   #4
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Old 09-24-2016, 06:37 PM   #5
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Been with State Farm all my life and had all my house,cars and boat with State Farm originally.
But they started not wanting to do stated value on my boat,collector cars and street rod so switched over to Hagerty for the cars and Boat US on the boat.
Still use State Farm on everything else.
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Old 09-24-2016, 07:08 PM   #6
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Hagerty, insured for a agreed value at a reasonable price. Good policy service if you need to file a claim.
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Old 09-25-2016, 06:44 AM   #7
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Don't worry about having 2 agents, your contract is with the insurance company and that is what's most important. I've used J.C. Taylor and Hagerty in the past for my antique cars and I avoided using my agent to write the policy (why pay an additional commission?). Interestingly, my 1999 Vette is on my Farm Policy through the Farm Bureau along with all my cars, house and farm equipment. Nobody could beat the rate on the Vette.
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Old 09-25-2016, 09:33 AM   #8
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Originally Posted by Cybercycle View Post
Don't worry about having 2 agents, your contract is with the insurance company and that is what's most important. I've used J.C. Taylor and Hagerty in the past for my antique cars and I avoided using my agent to write the policy (why pay an additional commission?). Interestingly, my 1999 Vette is on my Farm Policy through the Farm Bureau along with all my cars, house and farm equipment. Nobody could beat the rate on the Vette.
So, you just go straight to Hagerty online, get the quote and pay them? Suppose, I have an accident in one of the collector cars, would the liability under the home nd everyday cars(at higher amounts) or the Hagerty liability coverage be what I'd use since the Hagerty amount of liability seems to be a lesser amount? I just see that this could be an issue?
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Old 09-25-2016, 09:49 AM   #9
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Originally Posted by OLE442 View Post
So, you just go straight to Hagerty online, get the quote and pay them? Suppose, I have an accident in one of the collector cars, would the liability under the home nd everyday cars(at higher amounts) or the Hagerty liability coverage be what I'd use since the Hagerty amount of liability seems to be a lesser amount? I just see that this could be an issue?
Not sure I understand what you are asking, but let's take it one step at a time....make sure you don't have your cars insured under multiple policies as that will cause you problems with respect to which policy has to pay on a claim. If you decide to use another agent/insurance company (i.e. not your friend who is your current agent). Next, yes you pay the agent directly...Hagerty in this case example, and if you have a claim it is filed the same way as if you had a local agent. The insurance company will send an adjuster to evaluate the claim if the insurance company deems it necessary (depends on $ amount of the claim) and settle with you or to who might release the company to pay (like a body shop).

Note, some insurance companies will insure at a stated value and some will not. Do your research and buy from whom your are comfortable spending your premium dollars. Years ago, I had a claim for a convertible top on a National First Place 1969 GTX convertible. The top was original and had an impact on the value of the car, but it was damaged by another person accidentally while attending a National Mopar event. I turned the claim over to my insurance company (bought through J.C. Taylor in this case) and a claims examiner reviewed damage and quickly approved payment for an NOS top to be installed at a well known restoration shop. The insurance company paid the shop directly...I just had to deliver the car to the shop. All worked out and was a smooth process.

Hope this helped a bit.
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Old 09-25-2016, 11:24 AM   #10
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Yeah. I never worried about this because the 442 has basically been sitting for the last 15 years. I used to store it in my Mom's garage for 5 months out of the year and she only lived 2 blocks away so it really was only driven less than a mile per year. Now, with the new car, I will most likely put 500 miles or so per year going to events, so the chance of getting it damaged will increase.
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