Who Are You Insured By?

Michael....... American Collectors in NJ. They have been very good to me. Really no restrictions and I pay $300+- a year. I think I'm valued at $40K too

I have the Barrett Jackson endorsed collector car insurance. I have had Chartis for a couple of years now and although I have not had a claim, I have not had any issues either. I have four cars on the policy and I pay $1,200 per year. Cannot remember the limit amounts for liability, but I do know that the amount each individual car is insured for is an agreed amount between me and the insurance company -- no depreciation issues here.

Here is the web link to the Barrett Jackson endorsed company:

Barrett Jackson Endorsed Insurance


I was with Heacock Classic insurance before Chartis -- but the premium was less with Chartis, and if it was endorsed by Barrett Jackson I thought I would give it a try. Why would they put their name on a really crappy product and hurt their image? I hope I'm not too wrong on that one......

Best of luck!

I dropped Allstate a couple of years ago, (anticipating "issues")and now have Grundy's Collector Car Insurance, with lower rates, declared value, and unlimited mileage.
Check them out for a quote.......
http://www.grundy.com/collector-ins/

quote:

after about 15 years with Hagerty, they seriously pissed me off and I'm looking for a new insurance company for my Pantera.

So what'd they do? Is it something we need to be aware of or that I need to check on my policy?

I just added 2 more cars to my Hagerty policy, and plan to add a 3rd within the next month.

Thanks!
Garth

I just switched to IRONSHORE INDEMNITY @ Condon and Skelly 800 257-9496 ...

Ron

quote:

Originally posted by garth66:

quote:

after about 15 years with Hagerty, they seriously pissed me off and I'm looking for a new insurance company for my Pantera.

So what'd they do? Is it something we need to be aware of or that I need to check on my policy?

I just added 2 more cars to my Hagerty policy, and plan to add a 3rd within the next month.

Thanks!
Garth

They told me when my car hit 25 years old that it would be classified as an antique and the rates would drop dramatically. I know this is the case because I bought my first Pantera (a '74) in '98 and insured it with Hagerty. It was 24 years old at the time, they told me it would drop the following year and it did (to about $300/yr, which was less than half). When I spoke to them 2 years ago about the car turning 25 the following year and the rates dropping, they said it will happen automatically.

Well last year came, the rates actually went up, and they told me it had to be "over" 25 years to qualify. That didn't make sense to me, and even though I had them check my history for the timing on my first Pantera, I was talking to deaf ears.

So I got my renewal in the mail last week and lo and behold, it actually went up again, not down! When I spoke to them tonight about it they told me yes, your car has been classified as an antique since it was 25, and the rates will actually go down about $10 a year for the next 10 years, but it's not a sudden drop. Again I referred him to my last Pantera and informed him that my rates have actually gone up over $100 over the past 2 years, not down! His reply was that insurance has gone up dramatically over the past 5 years and that it is what it is and these are the rates, feel free to shop around because I won't find better coverage than Hagerty. The kicker that really pissed me off: "Would you like me to close your account right now"? Is that their idea of proper treatment for customer loyalty?

He laughed several times throughout the conversation and it got to the point that I had to ask him if he found this funny because it wasn't happening to him.

The point is I DID NOT appreciate the way I was spoken to, or the way the conversation was handled, or the double talk. More than that, I feel they lied to me to sucker me into paying another year of unnecessarily high rates, only to tell me the rates WILL go down when they're going UP! He was clearly talking through both sides of his face.

Anyway, I don't need to take that from anyone, so I'll be voting with my wallet elsewhere. $1123 for 2 cars (75k & 15k values) is not worth that kind of treatment!

Michael

American collectors 75000.00 $600. 2500 MILES per year

Ironshore ... 400.00 for each car x 5 and they all have comprehensive and collision ... if the car is stored in the garage and something happens unless you have collison... they will not cover the car ... be careful i switched when found out because the cars are not registered and sit 100% in the garage.

R

Michael, Canada may be different. My broker had me with Echelon last 3 years but moved me to RSA . Have 121K for a yearly of $736, IIRC 5000KM (3000mi/yr) a few extras $1000 towing, coverage while on towing, 1st right of re-purchase of written-off + coverage for up-to $7500 of spare parts.

Don't blacklist Hagerty because of some jerk agent. I have had them for over 10 years, my agent is always helpful, they increased my stated value as the market rose, and the cost per year is about $300. The grass is always greener in the insurance business. I had both Geico and Allstate and both dropped the Pantera cause they could.

I too am with Chartis (the BJ endorsed program) and they have always been extremely courteous. Admittedly I have not had to claim fortunately, so no experience there.

I switched from American Collectors 2 years ago because Chartis premium was half what I was paying. I can't break out just the Pantera's from the total but I have 4 cars total insured value $280K and I pay $1280/yr, zero deductible.

Julian

I too am with Hagerty. My original policy was thru a local broker. I have alway had problems with the broker trying to tell me that since my cars were "modified" it would cost more. I got sick of it one day and called Hagerty directly. I was able to increase the coverage for very little added cost by re-classifying the five cars and I fired the broker. No appraisals no hassle.

I looked at my Chartis declaration page on my insurance and the total insured is $315,000 for four vehicles, no deductible, has to be 25 years old, in a locked garage, bla, bla, bla -- and the yearly cost is $1,197.00, of which I pay quarters for no more in cost. I also cannot tell what each individual car costs to fully insure -- but the above is what it is and what I pay.

Best of luck.

Mark

quote:

Originally posted by Cyboman:
When I spoke to them tonight about it they told me yes, your car has been classified as an antique since it was 25, and the rates will actually go down about $10 a year for the next 10 years, but it's not a sudden drop.

Michael,

In Canada things are not always the same, but my GT40 was valued similarly to my Pantera but cost me almost three times as much to insure. When I asked (assuming that it was a "kit-car" issue, they said the 25 year age was a big drop. Well, this year I opened my renewal and guess what? My rate on the GT40 DROPPED from $1,100/yr to $400 BECAUSE it just became 25 years old and is now an Antique. Not a gradual drop, but a very large (and positive!) drop. Time for you to switch, IMHO (or just sell me that damn thing since you don't use it any more anyway!).

Mark

quote:

Originally posted by Mark Charlton:
...(or just sell me that damn thing since you don't use it any more anyway!).

Mark

Ouch, Mark. Very ouch!

I am working on remedying that situation.

Michael

Thanks to those who have shared some companies and some numbers with me! Please keep them coming.

Michael

quote:

Originally posted by RRS:
I go through Midwest Classic Insurance Inc, the policy comes from Infinity Insurance.

Agreed $83,250

250 deductible
100,000 liability

6000 miles

Includes Free 24 hour roadside service for:
Jump start
Lock out
Flat tire
Fuel delivery
Towing


$715.00 annual

quote:

Originally posted by Mark Charlton:
Michael,

In Canada things are not always the same, but my GT40 was valued similarly to my Pantera but cost me almost three times as much to insure. When I asked (assuming that it was a "kit-car" issue, they said the 25 year age was a big drop. Well, this year I opened my renewal and guess what? My rate on the GT40 DROPPED from $1,100/yr to $400 BECAUSE it just became 25 years old and is now an Antique. Not a gradual drop, but a very large (and positive!) drop. Time for you to switch, IMHO (or just sell me that damn thing since you don't use it any more anyway!).

Mark

Mark,

You left out one bit of pertinent information: who is your insurance company? Inquiring minds would like to know!

Michael

My cat is insured by Silver Wheel. $225k of coverage costs me about $1100 and covers me anywhere in North America, in any trailer, on a track and at any shop anywhere. It's been going down steadily. I could insure it for less for less money - but as soon as I do it will be wrecked or stolen. So I keep it high enough to build another one if I ever have to.

quote:

Originally posted by Cyboman:
Mark,

You left out one bit of pertinent information: who is your insurance company? Inquiring minds would like to know!

Michael

Hey Michael,

Well, it is with Royal Sun Alliance but it isn't that relevant unless you are planning a move to Canada, as most of our insurance providers are province-specific Canadian-only insurers. I think even Hagarty is a separate company from the US one although with the same ownership. Their rates here are nowhere as low as in the US, from what I'm told.

Mark

Only one very good piece of advice ... do not call and cancel your policy with the old co. When you put the new one in place the new co will cancel ... in NY DMV they charge you each day 8.oo per day ... and it adds up quick.

Ron

Thanks all to those who suggested insurance companies, they were ALL helpful suggestions!

My best quotes so far for 152K of coverage (126k Pantera & 26k Thunderbird) with 300/300 liability, 300 under or uninsured, 5k mileage each per year, $1000 deductible each, roadside, spare parts, trip interuption, etc., are:

American Collectors - $837 yr.
Condon Skelly - $753 yr.

The main difference between these two is American will pay $250 per occurence x3 for roadside, and Condon will pay $100 each unlimited times. I recently had a car towed 1 mile to my house and it cost me $120, and it wasn't even a flatbed! That $84 difference could get eaten right up on one tow.

I'm waiting on Barrett Jackson (Chartis), and one or two others. American Modern came in at $1129, Grundy came in $1307, and Hagerty came in at a whopping $1600 to up my coverage to those levels.

I'm sure some of you may be thinking, "Why 126k and 26k?" Well, having no deductible increased each qoute by over $400. I figured I would be paying about $6 per thousand (based on the $837 quote), so I asked how much it would cost to increase the coverage of each car by 1k. The total policy increase is $14! (This actually brought them to $837 and $753.) So, if (God forbid) I ever have a total loss, I still get the 125k and 25k values I originally wanted. It essentially builds the deductible into the agreed values. It seems like a no-brainer to me!

Michael

Michael,

As a Chartis customer, I would be interested what they quote you. Can you let us know what that is when you receive the pricing?

Thanks,

Mark

quote:

Originally posted by DeMopuar:
Michael,

As a Chartis customer, I would be interested what they quote you. Can you let us know what that is when you receive the pricing?

Thanks,

Mark

Mark,

It looks like Chartis is at $1479. I thought Chartis was going to be one of the lowest quotes!

Michael

Hi Michael,

OUCH! Is this just a function of your location? Seems like a lot of dough, but then again, I am in the middle of nowhere so the only things that will do damage are bugs and wildlife jumping in front of the car.

Sounds like you have a solid group of companies lined up to choose from. I have heard that Allstate is to be avoided as a company as they are very weak financially, and they take it out on their customers when a claim arises.

BEST OF LUCK!

Mark

Make sure you have Collision ... not just liability ... my policy is about 421.00 per car / 100 deductible and drivers need to be listed with Condon and Skelly. I found for the increase in coverage and low deductible they were the best by in NY.

Ron

Thanks again for all of the suggestions guys.

I went with American Collectors at $837 a year due to their better roadside program and incidental coverage. I had Hagerty do a quote with the same exact parameters and they were at a shade under twice as much! They sent me a questionaire asking about why I left them. I was sure to tell them.

My policy has both comprehensive and collision, Ron, but since you mentioned it I was sure to look twice just to make sure!

Michael

Hi, I read this thread and used some of the agencies listed here to generate quotes. I tried to keep them all the same: $60K agreed value, 4-5K mi/yr, 100/300 Comp and Collision and Un/Under, with roadside and not much else and here's what I got quoted online:

Grundy: $393.80
TDC Risk Mgmt (Barrett Jackson) $349
American Collectors $677.47
Haggerty $531

I have no idea why American came in so high, except that their quote defaulted to 7500 mi/yr for some reason.

I clicked on the link for the BJ Endorsed and got TDC not Chartis like some of you did - not sure why.

The Haggerty quote was also very confusing - it defaulted to 0 deductible at $531 and when I forced the issue the only option was $1,000 deductibles for each and the quote only dropped $10 to $521! they also added $100,000 earthquake coverage (only added $10 though).

So I will need to make some phone calls, but for right now it looks like Grundy may be the one for me.

Your thoughts?

Definitely give the BJ endorsed insurance a call, they have been superb in my dealings with them and halved my cost from American.

Julian

Hi Julian,

But are your dealings with Chartis or this TDC Risk Mgmt?

It might make a considerable difference.

Anybody else used this TDC company?

The Barrett Jackson agent is The Delp company which is a TDC company, my insurance is through them underwritten by Chartis.

Give Amy Spengler a call at the Delp Company, they have great service in my experience. Toll free (877) 545-2522

Julian

GIECO 27 years 300 bux just liability, if somebody hits my car I can't fix it ... I'll be in prison

Looks like a good place to gripe. Does anybody use LeeLand West?

They have my Pantera and two other exotics. They're pretty demanding. Must be garaged at all times. No driving to work. Pictures of cars IN the garage, plus all 4 sides, and they have to be a certain pixel size. Mileage statements. I feel they own the things, and I'm just borrowing them.

Time to shop around.