Hagerty Insurance - Guaranteed Value ?

[Patrick H.]

Re: Hagerty Insurance - Guaranteed Value ?

Been thru numerous claims with State Farm (3 teenage drivers) on our daily drivers with NO issues, we've been with them for 32 years now including our 74 vette.
Marty

Daily drivers do not equal vintage Corvettes, especially with regard to insurance claims and State Farm.

"Been there, done that."

[Keith L.]

Re: Hagerty Insurance - Guaranteed Value ?

My daily drivers and my business trucks are with SF. My classics are with Haggerty. I was married to a SF agent.

[Jason A.]

Re: Hagerty Insurance - Guaranteed Value ?

A few years ago I had a claim on my '63 and was covered by Hagerty. It couldn't have gone better.

All insurance is the same, other than price, until you file a claim. I'll be with Hagerty until someone proves that another company has better coverage.

That said, if you like the company/agent you have, sick with them and hope that in the event of a loss you get the coverage you expect.

The shift to "Guaranteed Value" seems like more of a marketing initiative than anything else.

[Bruce B.]

Re: Hagerty Insurance - Guaranteed Value ?

Hagerty is an insurance agency, not an insurance company.

They sell insurance underwritten by Essentia Insurance Company.

Does that make a difference, not to me since I have used State Farm for as long as I can remember.

[Keith L.]

Re: Hagerty Insurance - Guaranteed Value ?

Doesn't matter to me either. I already knew by reading my policy.Technically when you walk in to your SF agents office, you are walking into a agency who is an independent contractor of SF. None of this matters. I have nothing against SF.

[Reg C.]

Re: Hagerty Insurance - Guaranteed Value ?

As a State Farm customer for the last 40 years I felt comfortable asking my agent who he would insure my 58,63,and 66 corvette with. Without hesitation he said Hagerty. Works for me and I still insure three daily drivers through State Farm.

[Richard R.]

Re: Hagerty Insurance - Guaranteed Value ?

My 2 1970 Corvettes are insured with SF here in Mississippi. They have Antique policies and the policies say "agreed amount".

[Michael F.]

Re: Hagerty Insurance - Guaranteed Value ?

My 2 1970 Corvettes are insured with SF here in Mississippi. They have Antique policies and the policies say "agreed amount".

Unfortunatly "agreed" is not "guaranteed". I would investigate the fine print in your policy.

[Clem Z.]

Re: Hagerty Insurance - Guaranteed Value ?

seems like half the country is getting new roofs due to hail damage and i would guess that car insurance is helping to pay for this. JMHO

[Robert K.]

Re: Hagerty Insurance - Guaranteed Value ?

I've been with State Farm for 45 years, my father was with them for 49 years, my grandmother was with them for over 60 years and my collector cars are with JC Taylor, except for the one my 23 year old son drive occassionaly. JC Taylor "No regular drivers under 25" same for SF except, unless insurred by SF, so he's covered. Actually, have both SF and JC Taylor on the Covette he occassionaly drives, but I drop SF after the show circuit dries up.

Maryland is a SF "Stated Value" policy. My agent explained it this way, as stated by others, lesser of fair market and stated value. SF will have an adjuster look at that mangled pile of parts and determine what the "Fair Market Value" was just prior to the accident. Is this appraiser a antique Corvette appraiser? No. Is this appraiser a collector car appraiser? No. The question in my mine is do you want this appraiser that specializes in appraising Saturns and Hondas determining what the Fair Market Value was for your Corvette. I suppose if you had your own appraisal done and you were happy with that, you might have a leg to stand on, but it's likely a judge will need to make that determination.

My 67 BB roadster had a pickup back into it and take out the surround. I didn't go through JC Taylor, I went through the other driver's insurance, don't remmember who. First appraisal $11,500 from a Covette restoration shop. The insurance company refused to pay that and had me get some additional estimates. They came in around $7-8000, they were Covette shops also, but not the same caliber as the first, in fact one was a real juck shop. So they sent me a check for $8500 which I did not cash. About a year later they called and asked what will it take to close this case. I said $11,500 and they responded with $10,500. I accepted. I even did this with my own SF policy on a totaled VW Beetle years ago. I refused to cash the check and they finally made an offer I accepted. Basically, don't let the insurance companies have the last word. I wrote about my JC Taylor (Zurich Ins Co) in another thread and the lesson I learn about "BETTERMENT".*

[Paul J.]

Re: Hagerty Insurance - Guaranteed Value ?

While this is a little off topic, here are some comments by McKeel Hagerty. Food for thought for those of us that drive our cars.

Any Ferrari fans are going to love this. The blue and yellow car in the video is the one in question.

http://wheels.blogs.nytimes.com/2012/07/16/crash-of-ferrari-250-gto-exerts-a-heavy-if-imprecise-toll/