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vmania
10-30-2017, 07:08 AM
We just received quotes from Haggerty and JC Taylor on our 57 GH and just wanted to check with the folks on here to make sure they're fair. Car is valued at $60K (frame off resto from Craig Piper) and quotes were around $450. Also is either one better?... Any help or advice is greatly appreciated....Thanks!

Jeffry Cassel
10-30-2017, 08:00 AM
Try State Farm. They are the biggest collector car insurer, and they just saved me a lot on my regular insurance.

Avantidon
10-30-2017, 08:55 AM
In my opinion, you need to stay with a specialty carrier when insuring antique and classic cars not a mainline carrier. All of my cars are with Hagerty on one policy. I have had one claim and absolutely no problem in settling it.

swvalcon
10-30-2017, 09:24 AM
State Farm has good rates but the only time I saw them in action was when I managed a body shop in phoenix Az. A young lady brought in a 66 mustang with front damage and I wrote it as new fenders ,hood and grille. So pretty much a complete front. Bid was way under what she had the car insured for. The state farm adjuster that came out look at the bid and said total it. It's just and old mustang. Then when they offered to pay her off it was way less than what she had been paying insurance coverage for. She got some money and kept the car and I found used parts and pieced it back together for her.

Dick Steinkamp
10-30-2017, 10:34 AM
There is a BIG difference between "stated value" insurance and "agreed value". "Stated Value" means nothing if you have an accident. The insurance company will pay you what THEY think the car is worth no matter what you state the value is and no matter what you THINK you have been paying for. "Agreed Value" means no haggling at the time of a settlement. They pay you what you and the insurance company have agreed is the value when you take out the policy. Hagerty, Grundy and a few others offer agreed value. Most others may have better rates but you don't want to be in a position where you have to file a claim.

Starlight
10-30-2017, 11:01 AM
We just received quotes from Haggerty and JC Taylor on our 57 GH and just wanted to check with the folks on here to make sure they're fair. Car is valued at $60K (frame off resto from Craig Piper) and quotes were around $450. Also is either one better?... Any help or advice is greatly appreciated....Thanks!

vermania...I have 6 cars insured with Hagerty, agreed price from 20,000 to 30,000 depending on the vehicle, the premium comes due for all of them at the same time....The more you have insured by them, the cheaper their insurance is....I don't have a limited amount of mileage I can drive them per year, unlike most of the rest of the insurers, my premium is around 1300 per year thru Hagerty....The quoted price for your G H sounds just about right to me, considering you have one car covered by them....Hope this helps.....Keep on Studebakering

Skip Lackie
10-30-2017, 04:01 PM
If you are going to put limited mileage on it and treat it like a collector vehicle, you're better off using someone like Hagerty or Taylor. Have had JC Taylor for ~40 years. No problems, but have not had a claim. The cost will go up as the insured amount goes up. But as Starlight says, the cost of each additional car will be less. My price for 9 vehicles with Taylor is less than for my one daily driver with one of the big companies.

vmania
10-30-2017, 06:28 PM
Thanks very much for the replies and advice!.... I believe we're gonna try Haggerty....

Avantidon
10-30-2017, 07:23 PM
Trust me you will be pleased. They may ask for proof of value but I doubt it. Having spent over 30+ years in the insurance business at all levels from local to national with a mainline carrier I have much experience and I would never insure my classics/antiques on a "stated value" contract regardless of price. That's why my cars are with Hagerty on an agreed amount contract with values from 25,000 to over 50,000.

5brown1
10-31-2017, 07:17 AM
My 3 are insured with State Farm with agreed values. Lower premiums than with the others I looked at.

jnormanh
10-31-2017, 04:31 PM
There is a BIG difference between "stated value" insurance and "agreed value". "Stated Value" means nothing if you have an accident. The insurance company will pay you what THEY think the car is worth no matter what you state the value is and no matter what you THINK you have been paying for. "Agreed Value" means no haggling at the time of a settlement. They pay you what you and the insurance company have agreed is the value when you take out the policy. Hagerty, Grundy and a few others offer agreed value. Most others may have better rates but you don't want to be in a position where you have to file a claim.

Absolutely..Use "agreed value" nothing else. Otherwise you will get low-balled on serious damage.

Most classic car insurance companies will sell you a policy for any reasonable figure you want. In the event of a serious or total loss, they pay the insured amount, no haggling.

On the other hand, don't try to insure for more than the fair market value. The premiums for that level of insurance will be either "no-quote" or fantastically high.

I use JC Taylor. Agreed value at what I think the car is worth. They have photos in their file to establish condition.

Thus far, 20 years, I've filed no claims. The premium on a car valued at $10K is $100/year. That's for a car always garaged, limited annual miles. It will be more for an everyday driver parked on the street.

52hawk
10-31-2017, 07:15 PM
When I was in the body shop business,I knew 2 State Farm adjusters well. They both called the company 'Snake Farm'.[One was treated so badly he finally quit,and gave up a decent pension,just to get out of the company. The other quit after just a couple years. I never cared for SF's service,claims,or attitude. Stick with Hag or JC.!

GrumpyOne
11-01-2017, 11:12 PM
Go with one of the antique insurers. I had my Power Hawk insured with State Farm for a few years and paid more for less coverage. I'm saving over 30% since going with Hagerty...

Silverplate
11-02-2017, 07:33 AM
I use Heacock and very happy with them.