Classic Car Insurance ???

[John S.]

Re: Classic Car Insurance ???

I have State Farm on all my cars, regular drivers and hot rods and classic collectors. The collector ones, 63 spit window Corvette included and are very competetive rates and I have stated insured values. They have great coverage/prices if one does not drive over 1000 miles a year on them, which I don't. Never had any claim issues with State Farm, they treat you right in my view. And if gone for any length of time over 30 days one can 'lay them up' with only comp coverage too, saves a lot when you won't use them for extended time.
John

[Don H.]

Re: Classic Car Insurance ???

In 1985 I was rear-ended and pushed into the car in front of me (I was driving a '64 Corvette). The driver that hit me had State Farm Insurance. I will spare you the goory details but will NEVER consider using State Farm (at any price) after the way I was treated. Don H.

[Richard G.]

Re: Classic Car Insurance ???

Nothing to add except the facts.
My State Farm Home owner's insurance just went up 27%
No claims nothing!
I am getting a different agent & different company.
Reason given was higher than usual loses from the deadbeats that are in foreclosure.

Forgive me if this is slightly off topic. They P** me off.
And I hope my neighbor asks me!
No offense to John. Sure you have heard it all.
Rick

[Tyler T.]

Re: Classic Car Insurance ???

The NCM has gotten into the classic car insurance business. You might give them a call.

Tyler

[Charles F.]

Re: Classic Car Insurance ???

I am a litigator (medical malpractice defense) here in New York. Although I do not work in auto cases, I see them on the court dockets all the time and know some of the attorneys (both sides). Both All State and State Farm have more auto cases on the dockets than any other carrier I see. This means to me that they are aggressive with litigation and likely (my opinion) not that "helpful" (unless they have to be). Personally, I would not put any insurance with either company.

Chuck Faillace

[Larry G.]

Re: Classic Car Insurance ???

I have talked to Adam at the National Corvette Museum, and they will save me about $300 for the next year. Has anyone had any experience with claims with them?

[Jeff A.]

Re: Classic Car Insurance ???

I can highly recommend Haggerty. Been with them for 15 years.
6 months ago my stupid neighbor stumbled into my garage unattended
and knocked a fire extinguisher onto the header panel of my 67 Camaro.

Filed a claim online - they called the next morning - 9am.
Sent Haggerty a few pictures.
then a follow up estimate to replace with NOS parts using the shop of my choice...
Got a check immediately - they did not even come to look.

The car is good as new - and I am a very satisfied customer.

Even got to keep a souvenir.

Any carrier can save you money on your premium - it is more important how they are going to handle your loss if you have one.

[John F.]

Re: Classic Car Insurance ???

Let me throw out another tidbit of info for the uninformed. In some states the minimum limits required by law are 20/40/15. If the guy that hits you and totals your vette is carrying these limits, the 15 ($15000) property damage limit is all that is going to paid out in one accident, regardless of the value of your vette or how many cars involved. That's it, you get up to $15000 for your $50000+ corvette. Collision coverage that you carry on your car with a deductible pays you for damages to your auto when it is your fault. My advise is to carry uninsured/underinsured motorist property damage limits up to the value of your vette. Buy an antique auto policy with a company you feel comfortable with. My county here in Texas has more uninsured drivers then any other county in the state. Ask questions of your agent and look thru your policy. Disclaimer: I can't speak for all other states.

[Terry M.]

Re: Classic Car Insurance ???

I have talked to Adam at the National Corvette Museum, and they will save me about $300 for the next year. Has anyone had any experience with claims with them?

The Museum has been selling insurance for less than a year. You stand a better chance of getting an answer by asking about people's experience with the company they represent.

[Jeff A.]

Re: Classic Car Insurance ???

Lawrence,
Both of my Vettes are insured with Hagerty. They specialize in classic and exotic car insurance and they understand the hobby. My '66 BB was involved in a shop fire several years ago and was burnt to a crisp - just on the edge of being totaled. It was adequately insured, and Hagerty paid out the entire amount of the policy (less $2000 that they considered as salvage value) which allowed me to bring the car back to life...without ANY hassles (at least as far as the insurance was concerned - there were LOTS of other hassles as you might imagine!). While I can't attest to how other companies would have dealt with the situation, this was a major claim and I was very pleased with how Hagerty handled it. In addition, their customer service folks were very accessible and responsive. Just my 2 cents.
Good luck with whatever company you choose.
Jeff

[Jeff A.]

Re: Classic Car Insurance ???

That was kind my point also.
Go with a carrier that specializes rather then dabbles in Collector cars.

In a hurricane I am sure State farm has a lot more important things to worry about then my old cars.

Haggerty is only concerned about my cars - and they are very good at what they do.

[Tim G.]

Re: Classic Car Insurance ???

I lost a 1969 Camaro Indy Pace Car in a fire a number of years ago and State Farm took care of the claim very well. It was a 14,000 mile original car and there was no problem collecting full value plus tax, title and license fees.

My 1970 Z28 was involved in a recent accident with my son driving, the other driver was at fault and Allstate is the carrier that is handling the damage. So far, so good. The damages are up to $18,000 now.

The bottom line here is I haven't had much luck with Camaros and I'm only going to own Corvettes from here on in.

[Mark J.]

Re: Classic Car Insurance ???

I have been happy with Hagerty, but fortunately no claims so far. The real test comes when a claim is made. However, I like the way they support the hobby.


Besides, you gotta love this targeted marketing:

[Paul S.]

Re: Classic Car Insurance ???

It does in my home State of Louisiana.

I wish it was also true for Texas. I did read the past threads and depending on the state, it appears you can get agreed value from State Farm. Not here, despite what my State Farm agent told me.

Back in April when I bought my 67, my State Farm agent assured me it was agreed value; after having a long conversation asking very direct questions and getting the "right answers", I picked up the telephone and "flat cancelled" the Haggerty policy that I paid for the night before, and went with State Farm. When I got the policy in the mail and read it (I'm a lawyer, it's what we do), it was not an agreed value policy. It was a stated value policy.

The collector car policy with State Farm essentially said in the event of a total loss, State Farm pays the lesser of fair market value or the stipulated value.

I asked is there another rider to the policy I don't have; agent said no. I cancelled State Farm and went back to Haggerty. Of course the person at Haggerty told me from the start when I called in to cancel them, that State Farm does not offer an agreed value collector car policy in Texas. Turns out she was right.

And insurance agents wonder why they get sued--rarely do you ever see the policy until after you have bound and paid for coverage. I was crystal clear about wanting an agreed value policy and explained I could get that with Haggerty. While I never take an insurance agent's word on such matters, it was very disappointing that my State Farm Agent could not have been more wrong if she tried.

Always read your policy, and when in doubt, have a qualified attorney read it for you.

[Paul S.]

Re: Classic Car Insurance ???

Maybe I've just been lucky, but State Farm has almost always been reasonable with me personally and professionally on other claims. Or maybe they know that since I'm an attorney they can't BS a BSer. .

A lawyer here too, but I didn't find State Farm particularly reasonable--in fact they drug out all the standard tactics to minimize my collision claim.

I was recently in an accident that totalled my daily driver with the other driver being at fault and a State Farm insured. As am I. I won't bore you with the details--I negotiate for a living and it all worked out to my favor in the end, but it was loaded with BS getting there.

I can only imagine the adjuster cluelessness of dealing with a loss on a midyear Corvette, on just labor alone.

I can hear it now--"Collision King charges $65 per hour for labor, and that's what we pay, not the higher hourly rates to have it repaired by a Corvette restoration shop". I already know most of the restoration shops here charge upwards of $125 per hour and will need more hours than the adjuster's book will indicate.

So I'll pass on State Farm, thanks, for my 67. Kept them for my regular vehicles because they likely are better or no worse than the competition.