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Classic car insurance

kmakar said:
Unless it's in writing, it don't mean shit. Representatives will say anything to get the commission, so don't trust someone's word.
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Of course. The premium is based on a stated value.
I do under insure my cars by 30% or so because I'm very careful and don't want to pay the high premium.
Haven't checked with LaRue yet but my insurance renews in April.
 
Nashville Cat said:
Of course. The premium is based on a stated value.
I do under insure my cars by 30% or so because I'm very careful and don't want to pay the high premium.
Haven't checked with LaRue yet but my insurance renews in April.
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Underinsuring the cars is even worse in my opinion just to save a few bucks. Is saving $200 a year really worth it? I won't underinsure just because the value is there and God forbid something happens, getting 30% less for the value just isn't worth it.
 
My wife had State Farm Home ins. from 1987 till 09, in '09 they Tripled the yearly premium for No reason, never had a claim so we dropped them like a Hot Rock
 
Agent called me back and he’d had misunderstanding about the coverage so the premium went up to $106 for 6 months. Still pretty happy with the price. The value we agreed on was 15,000. I plan to re-explore coverage once the Chevelle is ready for the road.
 
There is a difference between agreed value and stated value. The companie sthat specialize in classics will do agreed value, the majors use stated and you can lose out that way. It seems like two different way sto say the same thing, but it is not.
 
Alwhite do you have Cherished Value on your car? I'm paying Hagerty just about $600 for $35K agreed & cherished value
 
Missed this thread, but I've used Alex LaRue for the past 15 years. Not only are his rates great, but he's a car guy like we are, plus he's just an extremely down to earth gentleman.

Alex is a broker so he'll shop around for you to find the best deal & also understands the classic car market, so he doesn't blink if you give him a high number for an agreed value policy.
 
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kmakar said:
Underinsuring the cars is even worse in my opinion just to save a few bucks. Is saving $200 a year really worth it? I won't underinsure just because the value is there and God forbid something happens, getting 30% less for the value just isn't worth it.
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Maybe, but mine are garaged and I have a sprinkler system. I'd say the odds are pretty high.
It's the same reason I don't carry collision insurance on my daily driver when it's old.
Some people can't lose 30k and be ok. I've lost that much in the market in one day LOL
The cost of full insurance is probably closer to $600 more since I have 2 cars.
I never try to save on liability insurance; just collision.
 
Pete 67 said:
Missed this thread, but I've used Alex LaRue for the past 15 years. Not only are his rates great, but he's a car guy like we are, plus he's just extremely down to earth gentleman.

Alex is a broker so he'll shop around for you to find the best deal & also understands the classic car market, so he doesn't blink if you give him a high number for an agreed value policy.
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My Hagerty policies expire in April. Definitely calling Mr LaRue !
 
Ours is Hagerty. I drive my car weekly as many days as I can with no rain, so its fully insured with no restrictions. All the other companys wanted restrictions on mileage per year and or limit agreed value if unrestricted. It also has a Hagerty agreed value. Took more as we had an agreed value and I wanted more. If something happens to this 70, I'm not building another from the ground up. It will be a nice roller and Ill do the running gear I want. They were hesitant until I got a 3rd party assessment and sent a few hundred photos of every inch.
 
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