A question for all who have Hagerty insurance. I'm wondering if there is an 'opt out' for the $40.00 premium for the Valuation Tool. It's not anything that I'm interested in and I've searched without luck to see if it's a mandatory fee. I'll call my contact at Hagerty, but I was also wondering if anyone else has questioned this fee.
I didn't know about this and now I kinda want out of it too..
I mean, in the case of a loss, you want them to have an accurate idea of the value of your car, right?
Unless you have an agreed value policy?
Hagerty is a bit unique that it maintains it's own valuation tools vs other insurance companies that rely on kbb or nada.
Grundy allows stated value.
It's an agreed value policy and this $40.00 fee has nothing to do with the insurance coverage. It appears to me this fee is for a value-added service that I'm not interested in using.
I haven't called them yet but I'll try to do so tomorrow.
I literally just paid my renewal about an hour ago. It would have been the perfect time to inquire about had o known this.
I will need to renew my policy soon (and I'm considering other options). Please let us know what you find.
I'm with Hagerty and I have a guaranteed valve contract. I did have an appraiser that they recognize do the appraisal before applying. Then I asked for less guaranteed value than the appraisal. I just reviewed the policy, no $40 fee.
I have a declared-value policy on the Boxster. I've used that valuation tool a bunch of times, and they aren't charging me $40. Where do you see this fee?
That reminds me I need to contact them. They emailed me saying my bugeye is worth more than I said it was.
Use of the valuation tool is free (outside of creating a signin and password) for people who don't have a policy with Hagerty, so the $40 charge seems odd.
The roadside service, Hagerty Plus, is something around $40. It's itemized as Hagerty Plus not Valuation Tool. Any chance that's it?
In reply to Tom_Spangler (Forum Supporter) :
I copied their FAQ:
https://www.hagerty.ca/insurance/frequently-asked-questions/general-guidelines
Here's the text:
What Is the Hagerty Value Analysis™?
In addition to your premium, a forty dollar fee Is charged to you by Hagerty for the Hagerty Value Analysis, which includes access to online valuation services, vehicle valuation reports, automotive enthusiast forums and content, as well as, our highly trained staff available 7 days a week. This fee also covers the cost of underwriting and servicing your policy, with unlimited access to online quoting and policy management.
I had planned to call them on Friday but my day got away from me. I'll try to make contact on Monday. Upon reflection, in the FAQ, they also state the fee covers "...underwriting and servicing..." so it's likely a fee that cannot be waived.
However it won't hurt to give them a call.
I finally had the chance to call Hagerty today. The $40.00 fee is for underwriting, administration and for the value analysis. So it's not an optional thing that can be declined.
The person said that it needs to be listed separately due to Canadian regulations. So if you're a US policy holder your bill might be broken down differently.
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