Collector Car Insurance - Who Do You Use?

[GoodysGotaCuda]

I have been using Hagerty for my 'Cuda and would like to shop around and compare what others seem to be experiencing and paying for their premiums. I do enjoy driving my car and take it to work on occasion, I'd like a policy that lets me use the car.

I am 32 years old, no speeding tickets/DUIs/Accidents/etc. Owned the car for 17 years, Class A CDL holder, BS in Mechanical Engineering, MBA, Married for 10 years, outstanding credit score, I am seemingly a low risk driver overall.

The 'Cuda is set up as a "modified" car, obviously, which seems to add a significant amount to Hagerty's premiums. It's insured for $60k and the annual premium is $1,202. I have done the quick quote with Grundy and it came back at $598 [HALF!]. Have you used Grundy? What are your thoughts on them?

[Cuda Cody]

I used a stated value "collector car" policy with State Farm and it's really cheap.  Don't want to say exactly, but I can tell you it's super cheap compared to the prices you are sharing.

[GoodysGotaCuda]

If I requote my policy online, I get the numbers below. Even at 32, I'm still getting tagged for my age on car insurance. 

Simply going from Stock to Modified is a >50% jump in premium with Hagerty.

"Stock" - $913
"Stock" + Change my birthday from 1987 to 1977 - $729 (-$184)
"Modified" - $1,412 (+$499)
"Modified + Change my birthday from 1987 to 1977 - $1,118 (+$205)

[JH27N0B]

Why are you just limiting it to Hagerty vs Grundy?
I've been a long time State Farm client and they have treated me well.  I had my cars on their Collector car insurance but was nervous about the issue of Stated value versus Agreed Value.  State Farm is stated value and all the dedicated collector car insurance companies are agreed value.  The difference I'm told, is that you can insure a car stated value and the insurance company can still contest the value and possibly settle for less than you have it insured for in a claim.
With agreed value the insurance company will settle a claim for that value no if ands or buts.
A few years ago there was a member of Moparts who went through a lot of grief with State Farm when the Super Bee clone he bought was heavily damaged by hail while being transported on an open trailer. This didn't give me a good feeling about my stated value State Farm insurance on several Challengers.
After buying my V code Challenger in 2010 I talked to Hagerty about insuring it at around $70,000 and they quoted me less than $400 a year.  I didn't pull the trigger, but a year or two later I called them again and they then quoted me over $700!  Nothing had changed on my end except I was a little older, still perfect driving record, college degreed middle aged bozo with a near perfect credit score etc.
When I got my T/A on the home stretch of its restoration, it was time to revisit the collector car insurance issue once again, and this time I talked to a recommended collector insurance broker Rally Insurance here in IL.  I think they do other states too, not sure.  But they set me up with a company called Infinity collector car insurance.  I'd have to dig up the paperwork but I think I'm paying 800 and change a year for my T/A agreed value 100K and my convertible at 70K agreed.  I bet I'd be paying at least $1500 a year if I was with Hagerty.  I haven't made a claim and sure hope I never do, but if I did and have any problems, I'd be raising a stink with Rally.  They have been around a while and well regarded so I am sure they do their homework with the companies they sell policies from and would go to bat for me.
Hagerty is a great company with a good rep, and I'd pay a little premium to use them, but not double.  I suspect they charge so much higher to pay for all the commercials they run, sponsorships of shows and auctions, cool magazine and all the swag they give away at shows.  That stuff is all good and fine, but I am sorry I am not going to pay for it!

[Brads70]

I'm also with Hagerty , mine is insured for 60k Canadian and also as modified and it's 800 and change, the Javelin which they deemed "stock" is 250ish. I asked they they said yes they do discount the second car ? I used to insure the Challenger as stock and it was $267 a year, went to " modified" and it jumped to 800 and change.... As far as I know not many option up here in Canukistan ?

[7E-Bodies]

I'm with Hagerty because they played nice and covered my U code project for an undisputed amount and it's under $200/year.

[captcolour]

Hagerty here for the '70 cuda and '69 roadrunner.  They do discount the 2nd vehicle.  Since the RR is not registered and only valued at $10,000, my premium dropped a little from just the 'cuda by itself!

[nsmall]

I'm 40 so maybe that helps.  I am with Grundy.  $390 a year for 65k of coverage.  I have a 340 and I guess I'm old so they must be giving me a discount.

[GoodysGotaCuda]

I'm 40 so maybe that helps.  I am with Grundy.  $390 a year for 65k of coverage.  I have a 340 and I guess I'm old so they must be giving me a discount.

"Stock" or "modified"?


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[IRON MAN]

Spoke with two  Grundy insurance agents at Pleasanton Goodguys Car Show yesterday. Grundy said they require an interior picture of every classic car they insure. If there is a roll bar in the car your premium will be based on a high-performance rate. Guess the thing to do is install the roll bar after getting an insurance policy.

[1 Wild R/T]

Spoke with two  Grundy insurance agents at Pleasanton Goodguys Car Show yesterday. Grundy said they require an interior picture of every classic car they insure. If there is a roll bar in the car your premium will be based on a high-performance rate. Guess the thing to do is install the roll bar after getting an insurance policy.

Not really... If after you get the policy you get in an accident & they discover you have added a rollbar they may try to deny coverage...

[dodj]

I'm with Hagerty. Insured for $37k, $183 Canadian per year. Not specified as modified and I am not supposed to take it to work. Anything else is fine. What defines 'modified'?

[nsmall]

I'm not sure but I think it's considered "stock" since my car came with a 340.  What was weird to me is Grundy gave me all the coverage I wanted and it was just based on pictures. 

I never leave the car unattended and don't drive it much so Grundy is a good fit to me.

Seems like hagerty is better for people who drive a lot and I heard they have some policy where you can buy your car back if it's totaled for some cheap price.

[IRON MAN]

I'm with Hagerty. Insured for $37k, $183 Canadian per year. Not specified as modified and I am not supposed to take it to work.

At Goodguys yesterday, had a conversation with two guys visiting from Denmark. One owns a 65 Mustg GT350. He mentioned he is not allowed to drive his 65 GT350 Mustg during winter months. Asked why? He said because his car is considered antiquated and the car is not safe in icy conditions.quote]

[torredcuda]

I used a stated value "collector car" policy with State Farm and it's really cheap.  Don't want to say exactly, but I can tell you it's super cheap compared to the prices you are sharing.

From State Farm site - Limited use: Your antique or classic vehicle should only be used on a very limited basis.
Condition: The car (generally) must be restored, maintained and preserved in its original condition, or undergoing a restoration. Some insurers may decline if the vehicle is not in excellent condition.

Sounds like modified cars would not be covered and what do they define as "limited use" ?