Classic Car Insurance ???

[Lawrence R.]

I know this is not a technical question but here it is if I need to move this please let me know, thanks. I am with Hagertys now but have a better quote with American Modern thru the National Corvette Museum. Please give me your comment about either one (good or bad). I have only had my Corvette 1 year and no claims but looking at cost. Thanks

[Jim M.]

Re: Classic Car Insurance ???

Lawerence, I've had both, Haggerty for my old Jag and Modern Home for my Porsche and have good experiences with both. Presently I have my 69 vette with State Farm and their price was very competitive with the above two.

[Paul J.]

Re: Classic Car Insurance ???

Lawrence, there are several threads on this in the archives, and you should do a search. There is a lot of good information. This one is one of my favorites, but there are several more recent threads that discuss the two companies that you are looking at.

https://www.forums.ncrs.org/showthread.php?t=68209&highlight=insurance&uid=2130

Paul

[Keith L.]

Re: Classic Car Insurance ???

Lawerence, I've had both, Haggerty for my old Jag and Modern Home for my Porsche and have good experiences with both. Presently I have my 69 vette with State Farm and their price was very competitive with the above two.

State Farm doesn't have "agreed value". I hope you don't have a claim with them.

Buy your classic car insurance from a classic car insurance company.

[Pat M.]

Re: Classic Car Insurance ???

State Farm doesn't have "agreed value".

It does in my home State of Louisiana.

[Paul J.]

Re: Classic Car Insurance ???

Stay away from State Farm. Check out the thread in my previous post.

[Pat M.]

Re: Classic Car Insurance ???

Stay away from State Farm. Check out the thread in my previous post.

Paul, as I read that thread (particularly John Hinckley's comments) so long as a State Farm policy has a true "Agreed Value" endorsement the insured is protected.

Everyone should do what makes them feel comfortable, and I respect everyone's opinion. But I'm happy with State Farm.

[John H.]

Re: Classic Car Insurance ???

State Farm doesn't have "agreed value".

Keith -

Depends on the state - they offer agreed-value coverage in some states, and not in others.

[Stuart F.]

Re: Classic Car Insurance ???

I've had "Agreed Value" with State Farm in Illinois (28 years) and now in Florida (6 years). Guess you just have to have an agent that knows the business of classic car insurance along with a knowledgeable underwriter and client.

Stu Fox

[Paul J.]

Re: Classic Car Insurance ???

Paul, as I read that thread (particularly John Hinckley's comments) so long as a State Farm policy has a true "Agreed Value" endorsement the insured is protected.

Everyone should do what makes them feel comfortable, and I respect everyone's opinion. But I'm happy with State Farm.

Pat, in the thread it was explained that the problem with State Farm is not thier coverage or thier price, it's the way they treat thier customers and claimants. Wait until you need something from them. If you stay with them long enough, they'll treat you like dirt too.

State Farm is a well established company and was very popular in the 60s. I'm sure that you're not the only person happy with them. In all of the rating agencies that I have looked at in the last 20 years (including Consumer Reports), I do not recall ever seeing State Farm ranked number 1. My experiences with them have confirmed this.

Paul

[Stuart F.]

Re: Classic Car Insurance ???

In 1992 I hit a deer - not too bad at 35 mph. I was devistated. State Farm's adjuster worked with me to find a qualified Corvette repair shop and insisted they use NOS panels to ensure that the value of the car could be maintained. They paid top dollar for the repairs, as did I with my share, and the end result was as good as new. The project took awhile, and I visited the shop on a number of occasions to view the progress. The adjuster accompanied me on several visits and was knowledgable enough on Vettes to insist the shop redo some items that were not of proper quality and standards.

Again, a good working relationship of Agent, Underwriter and, in this case, Adjuster were very important. That was my experience which is not to say others would have a similar out come elsewhere.

Stu Fox

[Tom S.]

Re: Classic Car Insurance ???

I have had Haggerty's on several cars .Very happy with them. No big claims but I did use thier roadside assistence a couple times.The price is usually a little higher but I like to stay with what I know. Tom

[Pat M.]

Re: Classic Car Insurance ???

Maybe I've just been lucky, but State Farm has almost always been reasonable with me personally and professionally on other claims. Or maybe they know that since I'm an attorney they can't BS a BSer.

Paul, if you've had bad experiences with them I don't blame you one bit for staying away from them and telling everyone you can. I'd do the same in your position. I'm simply comfortable with them, I've had good service, and I see no "wiggle room" in the Agreed Value language.

I also think Stu is right - different claimants may experience vastly different service due to differing personnel, among other reasons.

[Patrick H.]

Re: Classic Car Insurance ???

In 1992 I hit a deer - not too bad at 35 mph. I was devistated. State Farm's adjuster worked with me to find a qualified Corvette repair shop and insisted they use NOS panels to ensure that the value of the car could be maintained. They paid top dollar for the repairs, as did I with my share, and the end result was as good as new. The project took awhile, and I visited the shop on a number of occasions to view the progress. The adjuster accompanied me on several visits and was knowledgable enough on Vettes to insist the shop redo some items that were not of proper quality and standards.

Again, a good working relationship of Agent, Underwriter and, in this case, Adjuster were very important. That was my experience which is not to say others would have a similar out come elsewhere.

Stu Fox

Stu,

I'm assuming that you had agreed value or similar at the time of the accident?

My experience on my 71 Corvette was the exact opposite of yours using State Farm. New cars? They'll pay on the spot. Old car? Beware... 4 1/2 years later mine sits unrepaired.

[John F.]

Re: Classic Car Insurance ???

Every time I read these threads, I just have to laugh. I have been in the insurance business for 36+ years, the last 14 in Texas as an agent. The other 22 on the company side in commercial fire underwriting. Over those years I have learned one very important thing. There are TWO sides to every story, and we usually only hear one biased side on this forum. Most claims are not cut and dry. It is never anybodys fault. Claims involving two parties need to be investigated to get the facts. Unbiased witnesses usually help, but no one likes to come forward. People riding with you in your auto are not unbiased. A lot of claims are he said, she said. If you like buying coverage thru the mail, on-line, or from an (800) number, you get what you paid for. Personally I like to sit down face to face and go over the coverages and answer all questions. If I don't know the answer, I call my underwriter while the client is sitting there. I don't shoot from the hip with other peoples cars, homes or life. If we can afford a Corvette, we should be able to afford a proper premium for the type of car, use of car, coverages, deductibles, policy, etc. I don't want my customers to be surprised at claim time. You make the choice and have to live with the consequences. Call your agent.
John F (State Farm agent)