Insurance Woes - New/Recent Issue!

[Kurt G.]

Re: Insurance Woes - New/Recent Issue!

Sounds to me like price is a motivating factor. Unfortunately WalMart has conditioned us as consumers to look at price and not quality in every aspect of our life, including the financial interests. As a former insurance agent (over 25 years) I can't tell you how many times I lost a client over a couple of dollars in premium cost only to get that client back a couple of years later when they had a coverage problem of some sort. We as Corvette enthusiasts will spend hundreds of dollars on a part we need to keep our cars "original" yet we complain about spending a few dollars more each year to protect not the cars, but the investment we have made in them. In the scheme of things a 10% increase, even if it happens every year is worth it to know I have the best coverage for my protection. When I shopped for my coverage I got specimen copies of all the policies, read them and went with Hagerty. Not because they were cheaper, but they were, but because they had the best coverage available. Don't cry over a few dollars in premium because if you do you might bawl your eyes out when you saved $20 in premium and lost 100 times that when you have a claim that's not covered.

[Bob S.]

Re: Insurance Woes - New/Recent Issue!

I'm not sure if the last comment was in response to my experience with State Farm, and if so, I was probably unclear as to what my issue was, but it was definitely not price related. In fact, I mentioned that I went with State Farm because of the perceived advantage of having a local agent, in spite of the policy being more expensive. No, my issue was that there is no web-service, e.g. online changing of address or printing of documents, no central phone number for questions or issues, and that even simple policy-related issues were taking in excess of six weeks to complete. The net of it was that I had zero confidence that if I needed help for a real problem, that there would be any response from State Farm in a timely fashion. The company I went with, AMIG, is the underwriter behind NCM and several other classic car agencies that have been highly praised on this site, so I have much more confidence in my coverage than with State Farm.

Bob

[John M.]

Re: Insurance Woes - New/Recent Issue!

Don; I have had Hagerty since 2009. You are correct. It looks like I have $30 - $40 increase every year, with the same coverage.
I have tried NCM but they can not write in North Carolina.
I am going to shop around next year.
Regards
Bill

Bill,
Try American Modern. The Corvette Museum people sent me to them. I live in VT and have the same issue re the museum insurance.

[Don L.]

Re: Insurance Woes - New/Recent Issue!

Hi Kurt. Your response and the placement of your response confuses me. Your post is placed under my Aug 20th post, where I communicated the outcome of my research and studying of my options.

Your post says "sounds like price is a motivating factor" and that "a 10% premium increase each year is worth it to know that I have the best coverage for my protection". My Aug 20th post clearly states what criteria lead me to my decision, and while price was a part of the decision, it was also based on increased coverage that made me move on from Hagerty. My conclusion showed much better coverage for less cost, and was supported by a host of satisfied policy holders at AMI. There were some minor (for me) trade offs such as restricted annual miles driven and the loss of a magazine subscription, however, it looked like the right thing to do for me and others in this thread too. When a whole digit gets added to several key areas of coverage and the premium reduces by more than 23%, I think it was the right thing.

All this said, I am not an expert in insurance, thus my original post, asking what others thought. Are you suggesting that AMI is not a good insurance choice and/or comparable to Hagerty?

I don't shop at Walmart. I don't think I got "Walmart-type" insurance when I moved away from Hagerty. Others here agree through experience, thus my confusion.

Please help me understand. Thanks.

[Tom B.]

Re: Insurance Woes - New/Recent Issue!

I have no idea what is driving your price increase with Hagerty. There must be some variable that doesn't apply to everyone. It may be location or theft history in your area, claims on your regular cars with someone else or who knows. The fact is I just renewed my Hagerty on both Corvettes and my custom stepside for the sixth year with them. I looked back and I'm still paying exactly what I was paying the first year. I find that surprising but then again my Allstate on the drivers has actually gone down. They advise me to review my agreed value at renewel time to see if I should change it up or down but they don't change it automatically. Their valuation tool on their web site indicates that I may be a little high on the '81 but the '59 is trending up.

Tom

[Dan P.]

[Anthony P.]

Re: Insurance Woes - New/Recent Issue!

I hope that our members are safe first and formost, and that thier cars for the most part were spared for Sandy's Rath, Has any body had any claims on thier cars from Sandy and if so how has your Ins. Company treated you? This will help me and others to decide on what Company to go with in the future. I know these are horrable times for all involved with Sandy, My prayers go out to all.

[Tom N.]

Re: Insurance Woes - New/Recent Issue!

I have just switched TODAY over to Condon & Skelly after getting quotes from everyone that sells
for all antique,classic,muscle cars and they gave me better coverage and save me $118.00
with an agreed valve policy...discounts you can get is if you belong to a car club,no accidents or
tickets within the last three years...I'M HAPPY!!!!!!!!!!