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Insurance

G Guest
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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S Stosh (Guest)
Wink - First off, welcome aboard & congratulations on your Pantera purchase! Secondly, look into getting a "multicar" discount from your local State Farm agent, it sounds as if you've got enough cars to qualify. I have all my insurance through them (homeowner's, etc.), & I think that helps. I pay about $420/yr. for full coverage & the car is insured for market value. It also helps if you're accident free (another reduction in premium), I also have a reduction for "Multiple Line", which I think is the reduction for the other insurances. Go talk to your agent, most of the ones I've dealt with will bend over backwards to get multiple policies from you!

Paul
W Wink (Guest)
Paul:
I have all the discounts allowed, including the multi car discount.
My 65 Ranchero is insured for $17,000 and cost me $660 a year for full coverage.
No accidents or tickets in 25 years!
I am in California and I believe rates are higher here.
I will hear back from the agent today and let you all know what they will cover it for and how much.
I think that posting this sort of info will help potential Pantera owners understand some of the added expenses that crop up.
K KARLC (Guest)
I insure my 73 Pantera through J.C. Taylor ins. co. Pa. Antique Cars. Full page ad in Hemmings. Full Coverage, Fire/theft Coll-
ision, $100-300,000 no restrictions, if insuring for more that 25,000, must have appraisial form. $203 per year. Unfortunatly I had to use them, someone hit me. They were great, claim was kept open until I was fully Satisfied. Not in all states though.
T tmoug (Guest)
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

quote:
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
W Wink (Guest)
Bob, I contacted Parish and was referred to an office in CA. Received a message from them with a quite of $387 per year for PL & PD only with no mention of collision coverage at all.
I will call them Monday and get more info.

Looks like $740 a year with $36,000 stated value back by appraisal at State Farm. That is where my other 3 cars are insured now.
RB Rick Bell (Guest)
You guys have got it real easy. I'm in UK and having to pay $1000 a year for 3000 miles for my Pantera, 5000 miles was quoted at $1275. The highest quote I got was $1950 for 3000 miles and these quotes are all from so called specialists. Gas prices ... forget it ... $5.40 a gallon, but it is unleaded 98.2 octane. I run 5 vehicles....no wonder my shoes leak and I can't afford razor blades.
W Wink (Guest)
Mark, that is great if your second car is 1980 or newer, remember.I prefer something more reliable like other classics as my daily drivers and they won't give me insurance and(so far) Grundy has not even returned my calls.
Starting to look like State Farm at $740 a year full cov with small deductables for now. At least I can drive anytime and anywhere for as many miles as I like...and I like them miles! lol
K KARLC (Guest)
Wink.. Did you ever try J.C. Taylor? they have a full page add in Hemmings. they are not in every state, Yet. They don't care how many cars you own, or what year they are. there are no restrictions on mileage, and you are insured for the full amount up to 25000. If more than that, you have to get the vehicle appraised. Like I said, it only costs me $203 a year. worth a call. 215-748-0567, or 610-853-1300
good luck Karl
W Wink (Guest)
Called JC Taylor just now. They require a second car that is 15 years old or newer.Oh well, we are on our way this morning to our local State Farm agent to revamp our insurance. Think I will dump the 1 million liability for $100,000 and save a bundle.
Thanks for the help everyone. Mike
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