Terry Posten
Well-known member
Ok guys, his topic comes up a few times a year. And I want to try and get some benefits for us.
I have been talking to Hagerty Insurance and they are now offering their insurance for our cars no strings attached.
The reason for me posting this is two-fold.
#1 - Ability to insure our cars for what they are worth and not what "book value" thinks.
And
#2 - start raising the values of our cars all over the USA.
Let me explain:
Let me start with point #2. If we start insuring many GVR4s for higher dollar amounts, we are building a database that we can prove the value of our cars in case of theft, accident, fire, etc... for anybody that may need to prove value to other insurance companies. And also get resale values to start climbing.
Now onto point #1.
I went on line to Hagerty.com and filled out the quick quote and used these figures:
$15,000 total value (based on my appraisal from a few years ago - however, they did not require that doc)
1000 miles per year - non-daily driver
Stored in private garage
50 mile towing insurance
The price I was quoted was $511 for a year with zero deductibles
With $1000 deductibles the yearly price was $430 per year.
The terms are payment in full for the year up front, 4 quality pictures, and a scan of the registrations from my daily drivers to prove that I do not drive it all the time. These prices were for IA and would likely be different for your area.
I did call them to discuss this in person and everything was proper. Our cars qualify and you have many options like towing distance, deductibles, insured value, mileage driving, etc...
I will be starting my policy in April.
I have been talking to Hagerty Insurance and they are now offering their insurance for our cars no strings attached.
The reason for me posting this is two-fold.
#1 - Ability to insure our cars for what they are worth and not what "book value" thinks.
And
#2 - start raising the values of our cars all over the USA.
Let me explain:
Let me start with point #2. If we start insuring many GVR4s for higher dollar amounts, we are building a database that we can prove the value of our cars in case of theft, accident, fire, etc... for anybody that may need to prove value to other insurance companies. And also get resale values to start climbing.
Now onto point #1.
I went on line to Hagerty.com and filled out the quick quote and used these figures:
$15,000 total value (based on my appraisal from a few years ago - however, they did not require that doc)
1000 miles per year - non-daily driver
Stored in private garage
50 mile towing insurance
The price I was quoted was $511 for a year with zero deductibles
With $1000 deductibles the yearly price was $430 per year.
The terms are payment in full for the year up front, 4 quality pictures, and a scan of the registrations from my daily drivers to prove that I do not drive it all the time. These prices were for IA and would likely be different for your area.
I did call them to discuss this in person and everything was proper. Our cars qualify and you have many options like towing distance, deductibles, insured value, mileage driving, etc...
I will be starting my policy in April.