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Agreed Upon Value Insurance

Discussion in 'General Mustang Discussion' started by BrentW, Feb 21, 2018.

  1. tarafied1

    tarafied1 Well-Known Member

    sounds like you did your homework. I chose Grundy mostly because they had the agreed value and didn't limit how many miles I drive. The HRPT is typically 3,000+ round trip alone! They do require it be locked in a secure garage. I have also had two claims. Once for a rock busting my windshield and the other for some front-end damage at Beach Bend drag strip (I wasn't racing, it was in the parking lot). Both claims were handles quickly and they let me choose who did the repair and did not make me get quotes. They just said get it fixed! i'm really happy with Grundy. I did have State Farm prior to having it painted back in 2007 but I never had a claim. I was just worried since I have them on my home and other cars and they are not that great. They nit pick everything and try to get out of paying for anything. We had a wind storm damage our camper trailer and it was like pulling teeth. Then we had a pipe leak in the house and they said since it didn't "burst" they wouldn't cover it. Next we had a heavy rain storm where water seeped into the the basement bedrooms and flooded the carpets, they wouldn't cover that either. I decided I didn't want them covering my 67
  2. 3175375

    3175375 Well-Known Member

    good on you! I had been insured with State Farm for over 30 years and they dropped me over a DUI. I will never spend another red cent with State Farm.
  3. RagTop

    RagTop Old Grumpy

    I have used Hagerty for years for my Mustangs and the '69 Corvette I had. My other cars were insured by State Farm with a $500 deductible and all the standard trimmings. I was paying over $250 a month for a 2008 Trailblazer and a 2009 Corvette. A few months ago I thought "Hey, the Corvette is a special interest vehicle" and called Hagerty. They insured it without a question for about 40% less than State Farm. A couple of months later I bought a '95 Bronco and figured "What the hell?". Again, they insured it for a real bargain price. The only proviso was that the vehicles would all be kept in a secure garage. This is saving me something like $2,000 a year and there isn't any deductible. I love those guys!
  4. BrentW

    BrentW New Member

    So due to my garage situation, along with a variety of other family desires, we moved to a house with private, attached 2-car garage in Torrance, CA (about 30 mins south of downtown LA). Just this move caused my Statefarm premium to go from $550/yr to $400/yr! Keep in mind, I have a $50k Agreed Upon Value policy with them and I'm allowed to drive the car however/whenever I want as long as I keep it under 3000 miles/yr. Now that I have a private garage again, I went ahead and got quotes for a couple of classic car insurers.

    Grundy: $303/yr
    Heacock: $442/yr
    Hagerty: $832/yr

    Obviously, I won't be switching to Hagerty because this is the same issue I ran into a couple years ago. For my car, they're just much more expensive compared with everyone else. At first I thought this was a fluke or the location I lived (Nashville, TN) but now that I'm in Cali, I'm still receiving a high quote from them so it must be me or my car. I've had my license for 19 years, I'm 35, my criminal/driving backgrounds are spotless so there's nothing with that angle though. I'd love to switch to Hagerty, as the premier classic car insurance provider, but the double to almost triple price difference makes it hard to justify. I'll probably switch from Statefarm to Grundy or Heacock since they specialize in classics, provide more coverage for spare parts, and will work with you in choosing your replacement parts if you're in an accident.
  5. Horseplay

    Horseplay I Don't Care. Do you?


    Just for clarity sake you should contact Haggerty and share with them the quotes from their competitors and ask them to explain themselves. When I got quoted by them they were much more in line with the others (still a bit higher). They may have something incorrect in their data about you or your situation, etc. If that is the case you'll want that cleared up even if you never use them. Stuff like that could find its way into other databases and could bite you down the road. All the big insurers share data and I have to figure Haggerty might as well.

    Just a thought
  6. BrentW

    BrentW New Member

    Terry, point taken. I just received these quotes and haven't had time to contact any of them. I'll definitely call Hagerty when I get serious about switching back to a classic car insurance provider.

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