Insurance Questions -

[GetX'd]

American Modern actually underwrites most classic car insurance in the US although the front company may go by another name. Some, like Haggerty and Grundy may be totally in-house. American Collectors is underwritten by someone else but I dropped them some years ago as they could not meet my needs.

Not true at all. They may be a good company - not disputing that - but simply not true that they are a front company for most of these other insurers.

 

[dadsbee]

There's a lot of bad male drivers out there as well. The only thing my Wife has ever done to a car in her 41 years of driving is blow 4 rods out the side of a block !

Geeze that’s your own parade!

Great that the "kids" live at a different address!! That way I don't have to list them as drivers as they're over 25. Now the Wife can keep them in check in the middle and drive her '64 440 tail end of the parade.

 

[Moms68]

Check these guys out: https://www.ncminsurance.com/

I used American Collectors for years and recently made the switch to NCM. Saved money on a better policy.

 

[WileE]

From the body shop side..

Go with Hagerty.

You want to go with one of the big ripoff companies, or save a few bucks, you'll wind up with a major battle.

 

[Coronet_Arch]

Another thing to remember is if your car is under restoration it needs to be insured. Your home owners insurance will not cover your car. If it is at a shop it may not be covered by the shop. Some insurance companies offer insurance on projects. You must remember to increase the value as work is completed.

 

[GetX'd]

Another thing to remember is if your car is under restoration it needs to be insured. Your home owners insurance will not cover your car. If it is at a shop it may not be covered by the shop. Some insurance companies offer insurance on projects. You must remember to increase the value as work is completed.

I would do as you suggest for safety sake. But to be clear a shop has to have insurance to cover customer goods in their possession. If they didn’t they wouldn’t be in business for long. But always ask for certificates of insurance if you’re planning to leave your car at one for any length of time.

 

[Russ Hood]

I do not understand why a person would look for the cheapest insurance when you have a classic car you love. All the standard carriers as have been mentioned here are not your market. Hagerty is my go to as a agent but Grundy is also good.

 

[JackR]

I have America collectors and had a great claim experience with them. I damaged by bow tie car a few years ago. Wasn’t sure if they would cover stupidity done in the garage. They sure did and better than expected.

I have a Geico claim on my 21 Jeep going right now. And it has not been a great experience so far. They want to price out aftermarket parts on my 6 month old grand Cherokee. Off road damage…12,000.00 worth.

 

[Garceau]

Thanks everyone. Appreciate it. Looks like Hagerty will get a call tomorrow.

 

[themechanic]

The last big car insurance discussion someone mentioned Hagerty was bought by another company. FBBO search feature sucks or I would furnish a link.

 

[dadsbee]

Hagerty wasn't bought by anyone, they went public on the stock exchange.

In Canada Hagerty Canada is the Broker and they are underwritten by Elite Insurance.

 

[WileE]

I have America collectors and had a great claim experience with them. I damaged by bow tie car a few years ago. Wasn’t sure if they would cover stupidity done in the garage. They sure did and better than expected.

I have a Geico claim on my 21 Jeep going right now. And it has not been a great experience so far. They want to price out aftermarket parts on my 6 month old grand Cherokee. Off road damage…12,000.00 worth.

Geico, like progressive, and the other major ripoff companies, will only pay for the cheapest part... not the right part. You car can be 3 days old, and they'll only pay for the $hit parts.

 

[themechanic]

Hagerty wasn't bought by anyone, they went public on the stock exchange.

In Canada Hagerty Canada is the Broker and they are underwritten by Elite Insurance.

Sorry. They merged with Aldel Financial and went public.

Classic car insurer Hagerty to go public via SPAC in $3 billion deal with Aldel Financial

https://www.cnbc.com/2021/08/18/cla...-to-go-public-via-spac-in-3-billion-deal.html

 

[Russ Hood]

Geico, like progressive, and the other major ripoff companies, will only pay for the cheapest part... not the right part. You car can be 3 days old, and they'll only pay for the $hit parts.

That's what you get with the cheapest premium Insurance.

 

[GetX'd]

Geico, like progressive, and the other major ripoff companies, will only pay for the cheapest part... not the right part. You car can be 3 days old, and they'll only pay for the $hit parts.

Not always true. I have GEICO and was rear ended while at a stop light by some knucklehead coming off the freeway and was seriously going 60 mph when he hit me. This was 3 years ago and I had just recently gone to Geico. My SUV was seriously damaged as you might expect. As was I. Bottom line the guy that hit me was underinsured so GEICO had to pay a significant part of the freight. They did want to spring for used parts but I was smart enough to bring the car the best Lexus shop in the area. The guys there convinced them to buy everything brand spanking new. Including - not straightening the frame - but instead replacing it. It took awhile to repair but I did nothing - the shop negotiated it all. When I got the Lexus back it was unbelievably pristine - one would never know. Bottom line it can be done if you use the right shop. It was a good experience for me - sans the time in the hospital..

 

[moparedtn]

Another vote for Hagerty here, this time from not only a longtime customer, but one who's had to
utilize their coverage (unfortunately).

Lookit, here's the thing, at least to me - in this society, it's sadly really rare when you come across a
company with uniformly professional, courteous service across the board.
Well, in all my years with Hagerty, they've been just that - every single time I've ever been on the phone
with them, every time I've run across their reps in person, they've been excellent in the way they conduct
their business.

More importantly than that even, when I've had occasion to actually file a claim with them...
They have proven to be the easiest company to deal with, too.
Sympathetic to my plight (a hurt baby GTX), quick to offer help, more than accommodating to my particular
request for repair facility and stayed with me until it was over and I was happy (they followed up! Go figure!)
No haggling over parts, prices, none of that - and even though the shop I used was on their radar already
(from another customer previous apparently), they insisted I give my two cents on the experience with that
shop so they could further their future recommendation (or lack thereof).
The shop I chose was "Hagerty friendly" as well - they love doing work for Hagerty.
All in all, an amazingly easy experience to fix my own clumsy boo-boo.
World of difference from past experiences with the "commercial" insurance carriers I've experienced over the
years. Absolutely 180* from them....

Side note - a few of them in the office there had apparently shared pics of Fred (my GTX) amongst themselves
(most of them are car people too, after all) and I received some nice complimentary messages from a handful
of them since then.
They didn't have to do that - nobody was trying to sell me anything, after all - they just like the car.

I have always insured Fred for stated amounts and increased it a few times over the years, as the car got more
and more "done" (they aren't ever done, don't care what you say). Simple phone call took care of that, too...
I don't really care what other companies would charge for coverage.
I've found the best. One less worry in life.

 

[padam]

How does Hagerty treat it if you race the car?

 

[AR67GTX]

Not true at all. They may be a good company - not disputing that - but simply not true that they are a front company for most of these other insurers.

Well if not, then who is? I know off-hand they insure for Heathcock, National Corvette Museum Insurance and Midwest. Apparently the Treasure Guard policy’s offered by American Collectors are insured by Modern. Companies like Haggerty, Grundy, etc, are underwritten by other insurers but I don’t see much repetition in them. So, maybe they aren’t but if my impression is wrong I would like to know who is the largest.

 

[Bighouse]

Hagerty-

Had a friend get in a crash with a Volvo P1800. Hagerty even paid him retail for HIS OWN PARTS. He had parts stashed for other restorations.
They paid him for them as they were not originally intended for the wrecked vehicle.

 

[Ron H]

Thanks everyone. Appreciate it. Looks like Hagerty will get a call tomorrow.

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I've had Hag for years and ran into an agent that was a super good guy at a local show last summer having his car there. We chatted for a half hour. I can send you his contact info if you like.