Have we talked about "Classic Car" Insurance? Lately?

So, I was just on the Hagerty website looking to get a quote for the 88 RX-7 Turbo II.  Driven rarely.  Pretty nice shape.  Occasional shows and motorsports use.

Hagerty's said minimum value was 30 grand?  It aint worth 30 grand.  Should I look at another provider?  Or just keep it on my regular insurance?

Did you call them afterwards, or did you only try their website? I *think* they have some rules for newer cars that are imposed on them by their underwriters. They are amazingly helpful on the phone.

I have three vehicles insured with them, none of them is worth $30k including the 911, for what that is worth.

Wait.... you have a 911 that's NOT worth $30K.

Does it look like this?:

Call them. You can set the agreed upon value with them. They have a baseline, but you have input. The worst they can say is no. I had my REPU, and 79 RX-7 through them, and called about adding the Delica when I bought it 5+ years ago. They said they couldn't insure the Delica. About 5 months later they called me out of the blue, and asked if I wanted to insure the Delica through my existing policy. I sure did, and a short whole later it was on the policy with a $10k agreed upon value I think. I've successfully raised the value on my REPU, and RX-7 at least once each as these aren't dropping in value or scarcity. I found talking on the phone with them to be much easier, than dealing with the website. FYI the state of MA bases sales tax on book value not what you paid unless it's through a dealer. When I went to get the title on my rotted frame 89 TII they had the book value at somewhere around $8500 so that's what I paid the sales tax on. I paid legit $500 for the car. The TII cars, and RX-7's in general are rising in value. I wouldn't say they're quite at $30K, but the FD sure is.

I use American Collectors Insurance. They valued my '75 Duster and '69 Olds far higher than I expected, but the rates were so cheap I don't care. If anything happened to either car I'd be sad, but not sad enough to not cash the check.

aircooled said:

Wait.... you have a 911 that's NOT worth $30K.

Does it look like this?:

It looks like this build thread.

It doesn't run right, needs a fair amount of interior work, possibly some expensive roof work, paint, and it's a Cabriolet.

OTOH it sounds good when I sit in it and make brm-brm noises.

Molvo is insured with Hagerty and it was just an agreed value over the phone. Well under 30k .

Pete

I use Grundy on my collector cars and added the MR2 as a 75% complete project so we could drive on the roads and test. They had no problem insuring it for $10K, their minimum and it was $128 a year.

Yes, the phone help was very good.  They will insure it.  Premium seems reasonable, but not compelling.  Good news is they can also add the KZ400 to the policy for literally NINE DOLLARS more for one year.  So, I need to find out what I'm paying now and make a decision.

In reply to 1988RedT2 :

That sounds like my experience as well - in my case what made the big difference other than them willing to insure a couple of bikes that are non-US market was the fact that once you have a couple of vehicles on the policy, the cheaper ones tend to be really cheap to insure.

1988RedT2 said:

Yes, the phone help was very good.  They will insure it.  Premium seems reasonable, but not compelling.  Good news is they can also add the KZ400 to the policy for literally NINE DOLLARS more for one year.  So, I need to find out what I'm paying now and make a decision.

I guarantee you are paying a lot more than $9 for insurance on the KZ400 

Mazdax605 said:

1988RedT2 said:

Yes, the phone help was very good.  They will insure it.  Premium seems reasonable, but not compelling.  Good news is they can also add the KZ400 to the policy for literally NINE DOLLARS more for one year.  So, I need to find out what I'm paying now and make a decision.

I guarantee you are paying a lot more than $9 for insurance on the KZ400 

Well, ninety dollars more.  Currently $99. per year through GEICO.

I don't remember how much my 944 is insured with through Hagerty, but it's way WAY less than $30k.

My Mazda is insured through Hagerty at 3500 dollars. That's probably about what I could sell it for in real life. 

Never a complaint about my experience with Hagerty and I've been using them for a lot of cars since the first George Bush was president.  Though I will admit, old Cousin Eddie doesn't fish in very deep water when it comes to how valuable his project cars are. 

Huh.  Funny this thread got dragged up.  I've been a satisfied Hagerty customer for going on two years now, I guess.  Still haven't moved the KZ over, but the Nova and the RX-7 are on there.