Reply to "Insurance"

Wink, I have been with Hagerety for 5 years and they have been great! I used to have my 74 Pantera with State Farm under the Classic Car program they offer and believe me it's very expernsive (twice as much as Hagerty)and you are restricted to mileage and usage of that vehicle. Milage is(750-1000 miles per year max) and usage is, where you drive that vehicle which could/will be an issue. If you are not in a parade type event or at a car show event covereage may become very difficult. Lastely your coverage on the vehicle with State Farm is not a stated agreed value (like with Hagerty) it will be at the descresion of what ever State Farm feels it books out at. State Farm may not cover the entire loan or actual value of your car if any type of disater was to happen. State Farm could easily estimate your Pantera being only worth say some low book number or actually back of low book. All I can say is look into the State Farm policy very, very closely.
Good Luck!
Tmoug

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Originally posted by Wink:
Just had an interesting experience with Hagerty Insurance that I will pass on since they say nothing about this until after you apply for their insurance.
I own my 74 Pantera (34,000), a completely restored 65 Ford Ranchero ($17,000) and wanted to insure them with Hagerty for these amounts.
I understood that you must have a second car for each one insured with another company.
I have a 65 another 65 Ranchero and a 65 Falcon Sprint, both with allnew running gear and paint, etc. They are in excellent running condition and rarely breakdown.
Here is the kicker from Hagerty.

FYI***You MUST have as a second car that is 20 years old or newer for each car insured with Hagerty!***

I also understand that most all the other speciality companies are the same.

So, I told them that they want me to drive , as a second car, one that is guaranteed to breakdown.
I guess it is off to my local State Farm Agent for a thrashing! lol

My 65 restored Ranchero is insured with State farm with a $17k value for abour $640.00 a year.
I will find out tomorrow how much the Pantera will be for either $36K or $25k and will act accordingly.
Hate to get caught underinsured also.
Wink

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