Car Insurance

TurboWh1

Well-Known Member
Joined
Aug 12, 2002
Who do you have your Grand National, T-type or other collectible vehicle insured with? Are you happy with the coverage and premium that you pay? I'm sure several of you may have a "stated value" policy... If so who is your insurance carrier (ie:State Farm, Erie, Hagerty)?
 
Who do you have your Grand National, T-type or other collectible vehicle insured with? Are you happy with the coverage and premium that you pay? I'm sure several of you may have a "stated value" policy... If so who is your insurance carrier (ie:State Farm, Erie, Hagerty)?

I am with Grundy's. Happy with everything. The only catch is car can't be a daily driver and has to be garaged every night (except when going to/from an event).

Rob
 
I am with Grundy's. Happy with everything. The only catch is car can't be a daily driver and has to be garaged every night (except when going to/from an event).

Rob

That's ok. I'm not looking to daily drive my WH1 and it is always in the garage anyways. I'm doing good to put 2000-3000 miles a year. I have been thinking about switching my car insurance over to a new company.
 
State Farm Agree'd Policy, no real issues in 25 years. Some years they send out all kinds of forms to be filled out, other years you never hear from them. State Farm was cheaper tha Haggerty in my case. We have 5 collector cars, 3 regular vehicles & a bike with SF. Bike insurance is high though.
 
I initially had State Farm. It ended up being a "stated value" policy and corporate advised they would not and do not offer "agreed upon" value policies. Who knows. You can never get the same answer twice. All I know is my agent went through the phone tree for a claim in a "what if" scenario. It boiled down to my appraisal didn't mean squat. They would have paid what they could get a comparable mileage, bone stock 1986 GN for and that would be that. No mods covered, no additional equipment that wasn't factory optioned covered. So I promptly moved to Hagerty and dropped SF like a rock.
 
I initially had State Farm. It ended up being a "stated value" policy and corporate advised they would not and do not offer "agreed upon" value policies. Who knows. You can never get the same answer twice. All I know is my agent went through the phone tree for a claim in a "what if" scenario. It boiled down to my appraisal didn't mean squat. They would have paid what they could get a comparable mileage, bone stock 1986 GN for and that would be that. No mods covered, no additional equipment that wasn't factory optioned covered. So I promptly moved to Hagerty and dropped SF like a rock.

I'm having some of the same issues with my current carrier. I have a written appraisal from a local appraisal company who values my car at $18000. I finally made my insurance carrier come out this morning and inspect my car this morning. I have had a claim on a Turbo Buick in the past and it was a nightmare. It worked out in the end but I had speak with everybody's supervisor to get everything worked out. Also, I have had Hagerty in the past as well. I really dont like the way the policy language reads. I don't daily drive my TR, but I do drive it to more than just to shows, on holidays and sundays. Maybe they have changed it... I just don't want any issues if my car disappears or it gets wrecked.
 
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Funny I see State Farm listed- When I bought my first GN in 1987, I went in to my State Farm agent and told him I needed to insure my GN... he looked it up and said it was a "high performance" car and could not insure it!!! I asked about IROC Camaro- yep, although expensive... My response was- then why not a GN?? They had insured my 1956 Ford show truck to $25,000 for a few years with problems...
So I went to a Allstate agent I knew and he insured it full coverage for about $300/yr.!! Took my truck, home, etc. over to Allstate as well and been there since...
 
I have heacock classic. I pay about $190.00 a year. I have a 1000 mile a year limit. I have my car valued at $12,000 and this was a value set by me. They just said that they would call me back to ok that value which they did.
 
Since requirements, rules and policies vary in every state concerning auto insurance, I am only familiar with our state policies and rules.

One rule do know here is that the insurance company is required to make you "whole" with a comprehensive or collision claim.

You can total your GN, but if it is a $10K car and $20K value with have agreed or stated value policies, they are only obligated to replace your car with one of like condition, or pay the market value.

Over many years I have helped many owners with wrecked and stolen GN's, and all have received fair settlements.

Common sense make it obvious that someone can insure a GN for $25K agreed or stated value, but if it is only worth 1/2 that value, that is what the settlement will be.

Even if your car a $25K engine, this value must be well documented, and even then there will be MUCH depreciation applied as it is a "wear" item as well as non-stock.

My original 1987 car with 9500 miles is insured for $25K, and since it would not, or could not be easily replaced, if at all, they would easily settle this claim. Beyond that amount, it may be difficult or never happen.

Our state, like others, does allow for contesting an insurance company's offer to settle a claim. This procedure allows each party to present their case to an independent mediator whose decision is final.

Like everyone, I hope I NEVER have to use my insurance, and wish you all the same. But if you do, just remember the insurance company must make you "whole", but not rich! :)
 
I initially had State Farm. It ended up being a "stated value" policy and corporate advised they would not and do not offer "agreed upon" value policies. Who knows. You can never get the same answer twice. All I know is my agent went through the phone tree for a claim in a "what if" scenario. It boiled down to my appraisal didn't mean squat. They would have paid what they could get a comparable mileage, bone stock 1986 GN for and that would be that. No mods covered, no additional equipment that wasn't factory optioned covered. So I promptly moved to Hagerty and dropped SF like a rock.
D J Red Barron, you did exactly the right thing..........what a crappy insurance company....I had issues with them in the past and dropped them like a rock also.....hate them. Very unfair company.

Bruce '87 Grand National
 
..I had issues with them in the past and dropped them like a rock also.....hate them. Very unfair company..........Bruce '87 Grand National

I had to grin at your post. :)

In 1987 State Farm lost 2 high profile insurance cases, one dealing with a stolen vehicle. That case alone cost them 6 figures to the owner as the jury was pissed with their attitude and handling of the claim!

On top of that, they had their ass handed to them by the state Dept. of Ins. with some hefty fines.

The people I know with State Farm have been treated really good by them in recent years. :D
 
Check out American Modern insurance. There is a guy in the chicago buick chapter news letter That was at the chili cook off explaining how insurance companies work. I know after that that you do not want stated value.
 
American Collectors Insurance here just got my renewal for my WE4.
$104.00 for the year that's for agreed value insurance. I also have classic tags on it.
 
Nick, I thought I'd heard something like that happening to State Farm, but wasn't sure................now you've made me grin........I sure thank you for that update.......boy, do I feel better now.:D

Bruce '87 Grand National
 
American Collectors Insurance here just got my renewal for my WE4.
$104.00 for the year that's for agreed value insurance. I also have classic tags on it.

Stefan, that's really a great deal on your insurance.......what is your agreed value? Plus, what are the restrictions, if any, that they've required of you in order to get this low rate? Sounds just what I need. Any help here would be nice.

Bruce '87 Grand National
 
Stefan, that's really a great deal on your insurance.......what is your agreed value? Plus, what are the restrictions, if any, that they've required of you in order to get this low rate? Sounds just what I need. Any help here would be nice.

Bruce '87 Grand National

I have Classic tags in PA so those restrictions transfer over to the coverage as well. No driving the Buick in substitute for my daily driver. Driving Buick for car show/club related events. Big one was having a garage. Agreed value is under $15K talking to a few guys this weekend they said if I went up to $20-25K then my premium would be closer to $200 dollars for the year. Im not greedy on my car for agreed value after all the labor/time I put into her this winter I wouldnt even be close at taking any kind of loss for what I paid for the car and parts added. Going back to the insurance, I have Full tort on it and my deductible is pretty good to. Having a good driving record I guess helps. My reg insurance on 08 Fusion and 11 Silverado Im paying $98.00 a month for me and the wife full coverage.
 
I have Haggerty agreed value policy. Two years now. I have no reason to complain, but I haven't had to contact them for anything except to renew.
 
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