Collectors Insurance

[OX1]

Any of you guys have on your cars? Anyone have trouble recently renewing their policy?

I've had American Collectors for year and was just told this morning they are no longer covering my 04 because they've had too many losses on other cars of similar years.

That's who I have for my 14. Have not heard anything yet. So they won't insure ANY 2004 car?

EDIT: Sorry, I have American Modern, not "Collectors". Have them for the 14 Stang, 86 Capri 5.0, 84 LTD (fox), and 03 EVO8.

As for mods, have $25K into that fox LTD (331 stroker, blower, etc..) and they were fine with it, once I sent them mod lists and costs. Have that insured for $14K, IIRC

Never had a claim but did tow Capri from car show recently, new MC start solenoid got stuck in start. No issue with towing. Number is 800-543-2644 if anyone wants to give them a call.

 

[BlckBox04]

That's who I have for my 14. Have not heard anything yet. So they won't insure ANY 2004 car?

I actually got down to the bottom of that because clearly whoever I was speaking to should find a new career. They actually just wanted to double my rate. I told them to pound sand, Grundy was half the price and I must have gotten a dozen messages after that trying to make good.

 

[ShelbyGT5HUN]

Anyone ever file a total loss claim, and got your agreed upon value amount paid, with no bickering?

 

[99MustangGTman]

Another Hagerty guy here for 3 years. My buddy also uses Hagerty on his 86' GT.

It's dirt cheap for me. I also don't insure my car through the roof and only insure it for $10k. I'll increase it when I add a stroker and brakes/hardcore suspension work.

The price has gone up every year, but by $20 or so each time. My policy just renewed for next year and they sent me all my documents last month before I even paid for anything that shows the car is covered for Dec. 2023 to Dec. 2024.

I pay an extra $70/year for their Hagerty Driver's Club. It has all kinds of benefits, but I only got it because it gives me 24/7 access to a rollback that will take my car from wherever I am to wherever I want within 120 miles. It pays for itself with one tow. I've only used it once to tow my car to my tuner, but there was no hassle. I just called maybe a week ahead, even though you don't have to call in advance and asked them to come to my house to pick up my car at a certain time and let my tuner know it would be there in a certain window. No issues at all.

 

[99MustangGTman]

Anyone ever file a total loss claim, and get your full insured amount paid, with no bickering?

Yeah, but not with a historic/hod rod tagged car. Erie Insurance paid me out $18,500 for my totaled 2013 WRX which I bought new plus they paid me $5,000 for a rider policy I was also paying. I was surprised they sent it so quickly and without any hassle, but they were probably glad to get rid of me. I filed 2 other claims which cost them a total of around $8-$10k and after the last claim before my accident they told me they would drop me if I filed anymore claims or got into an accident. The car was in pieces, so I was surprised they gave me that much, of course I fractured my sternum and couldn't walk for 2 months, so I didn't get a chance to rip off all the performance parts before they took it from the lot where my car was being held to their private lot to auction it probably. I know someone saw that car and bought it for parts.

 

[Cobra Jet]

ACI had changed hands. Here's the whole caboodle on it:

https://www.cartalk.com/insurance/american-collectors-insurance-review

Essentially the Parent Co. that bought them isn't just "car focused" like ACI used to be; they insure almost anything, and ACI is just a piece under their umbrella now.

I have ACI for both my 94 Cobra (over 15 years now) and my 93 notch (recent addition). Never had any issues with the company (then or now), their customer service or coverage benefits/options.

As far as total loss claims - the only way to get paid the value of the vehicle is the policy would have to be an Agreed Value Policy and the agreed value has to be in black and white on the Policy Declaration pages. That agreed value is what will be paid out, no more and no less. They will conduct an investigation for total loss claims and if anything isn't adding up, they won't pay out (there's LOTS of fine print that no one reads in the actual full policy). So I suggest everyone know what's in their policy fine print and what they're covered for and most importantly what is NOT covered in the event of a total loss claim.

Any Insurance Co. can drop policy holders at any time for any reason and that's in their fine print.

Some go through annual risk assessments or review of their "inventory" and determine what has become higher risk or what X-factor is reason enough for them to drop clumps of Policy Holders.

Recently many Auto Ins. Co.'s have been going to their State requesting insurance premium increases as high as 30%! So be on the look out for notifications coming from your regular policy OR the Collector Policy. The amount of increase could be turned down completely by the State (OR the Ins. Co. and State can negotiate a lower % if the requested % was declined by the State). But expect to see rate increases for quite a few States across the US (if you have not already).

ACI did put in for a double digit rate increase in NJ; not sure how many other States they are doing this in and there hasn't been any additional communication that their % increase has been approved or not.

 

[Klaus]

Subd. Just got a quote from Haggerty. 2600 a year for my zr1 and zl1

 

[Pribilof]

Hagerty for the '69.

Guaranteed Value $100k
zero deductibles
modifications listed and covered
"Cherished Salvage" endorsement - I keep the car after a total loss with no deduction from my guaranteed value payout
Travelling collector endorsement
Enthusiast Essentials endorsement - includes coverage for damage caused by insects, vermin, terrorism, and loss of vehicle due to "trick or scheme"
Competition exclusion
100 miles towing

2,000 miles annual driving limit

$1900/yr, which seems pretty reasonable for being garaged in the city of Denver. FWIW, my wife's 2019 Ram 1500 is $2590 /yr to insure with AIG.

My AIG Private Client agent recommended Hagerty over AIG for coverage of this auto.

ETA: no tickets or claims in over 20 years for either drive in my home.

 

[98 SNAKE EATER]

I've had Hagerty agreed policies on all my cars without issue, however, I've never had to make a claim

 

[96dreamer]

I have my 96 on my Safeco policy with the rest of my vehicles. A little under $400/ year for $40k agreed upon value with no limits.