Insurance Cost!!!

[blown motor]

I got my insurance notice today for my classics. The premium is up 20% from last year!! What are you guys paying here in Ontario for how much coverage and who are you with?

[JS29]

 

[Jay Bee]

Hagerty just emailed me yesterday.

Agreed value: $50,000.00 CAD
New Premium: $388.00 CAD

[JH27N0B]

Most if not all the car insurance companies in the US are lowering premiums and even doing refunds due to so much less driving going on during "house arrest".
I'm not sure if the classic car insurance companies are doing the same though.  I haven't heard anything from mine.
I was interested in getting Hagerty for my classics since they have a great reputation and cool magazine etc, but their rates were always so high compared to other companies I got quotes from.  A few years ago Hagerty quoted my '71 with 75K value at over $700 a year.  Which was close to twice what I was paying State Farm with their classic car policy.  I got classic car policies for my other two Challengers through a broker who found me a company that charges around $400 a year for my T/A with a 100K agreed value.  I'd pay more to go with Hagerty due to their great reputation and support of the hobby, but not double!

[72 Challenger]

1970 Plymouth Duster 340, 40k agreed value, I live in a major Ontario city outside the GTA, $400 taxes in.

My wife was recently unemployed by the whole COVID thing so I called hagerty and had them remove the extra Drivers Club portion. I really liked the magazine and bonus coverages but I rahter the $80 dollar savings right now.

[BIGSHCLUNK]

I got my insurance notice today for my classics. The premium is up 20% from last year!! What are you guys paying here in Ontario for how much coverage and who are you with?

Your insurance carrier must have seen the beginning of "A GARAGE IN ONTARIO". And thought who the hell is that pounding Murray's car?

[blown motor]

I got my insurance notice today for my classics. The premium is up 20% from last year!! What are you guys paying here in Ontario for how much coverage and who are you with?

Your insurance carrier must have seen the beginning of "A GARAGE IN ONTARIO". And thought who the hell is that pounding Murray's car?

So it's your fault!

[blown motor]

Hagerty just emailed me yesterday.

Agreed value: $50,000.00 CAD
New Premium: $388.00 CAD

I'm paying 230 for 25K on my Challenger and 520 for 65K on the Charger. I wonder how the fine print compares.

[Jay Bee]

I wonder how the fine print compares.

Not sure what you want to know - Deductibles =
Comprehensive - $300.00 $500.00 CAD
Collision/Upset - $300.00  $500.00 CAD

Liability - $1,000,000.00 CAD

[jimynick]

My Challenger is insured for $30,000 and I believe the premium is about $220-30?

[JS29]

I have found it to come out to about 10.00 per 1000.00 of agreed value. 

[blown motor]

My Challenger is insured for $30,000 and I believe the premium is about $220-30?

@jimynick Who are you with Ian?

[jimynick]

It's through Zehr's brokerage and I believe it's Western Assurance. I can give you a name if you want it Murray. I spoke to her yesterday. 

[Jay Bee]

FWIW, my annual premium has gone down with each year I've been with Hagerty, yet the agreed value remained the same. In Canadian dollars:

2017 - $426.00
2018 - $419.00
2019 - $406.00
2020 - $388.00

[anlauto]

My Challenger is insured for $30,000 and I believe the premium is about $220-30?

Do you keep $20K cash in the trunk or something ?