Who insures your Charger(s) and how?

[XS29L9Bxxxxxx]

I have been looking into changing companies - not so much because I need to, but because I understand it is good to review your insurance policy(s) every few years...


Looking over different options, I thought I would ask here and see what you might have for feedback.


A few years ago, I wrote an article about a guy who had a great classic car and his garage burnt to the ground - his car was insured however, the contents of his garage were not... Or at least, not to what it would take to replace... It was a detached garage and the structure/contents were covered at only 10% of the home value. His home was worth only ~$240k so obviously, ~$24k would hardly rebuild the garage and replace the tools, etc. inside  

Anyways, I may be off my own topic now...   What do you suggest for insurance for your Charger?

[Old Greg]

I have full coverage with Alfa, they have my policy written to where my Charger is covered as a daily driver with no limitations on how many miles I put on the car a year.

[XS29L9Bxxxxxx]

An important thing with any car that matters:

Is your insurance policy "Stated Value" or "Agreed Value" 

[Memphis Mopar]

I have my charger insured thru Hagerty. I have it covered for a value of 30k. My limits for milage is 7k a year which mine never sees and the policy covers anyone who drives the car. My cost for the policy runs 225.00 a year

[Old Greg]

I'll double check to see, the guy that owns the Alfa that I use has a classic also. He used the same type policy that he has when he wrote mine up.

[NGC414]

There are basically three types of auto policies- ACV (actual cash value), Stated and Agreed.
In general:
ACV will pay actual cash value which in a nutshell means whatever that company determines the value to be at the time of loss. It can vary from company to company but it could be blue book or recent local retail sales they use to get a number.

Next is "stated" lot of people even agents confuse stated for agreed. Stated is the same as ACV basically. It is just capped at the amount stated on the policy. Which means they will pay the ACV only UP TO the stated amount. Long story short you still get just the ACV. Many could argue that a basic ACV policy is better since there is no limit. BUT, some companies will actually come out and appraise the vehicle if it is a stated policy, this gives you an idea of what you would get in a loss.

Next is Agreed, ACV and Stated is offered by most standard markets but to get agreed you will need to go to a specialty market. this is the policy that will guarantee the amount that is actually listed on the policy. The only drawback is that most companies that give agreed value have very restrictive driving and storage requirements.  

As far as your friends garage things vary state to state and company to company but you need to review your Home owners policy. In most cases the other Structures coverage is automatically 10% of the dwelling This is listed as coverage B "other structures" on most policies. If you need more coverage there call your agent. Second  personal property covers your personal property reguardless where it is stored, but you need to read the policy to see what is covered. In most cases lawn equipment and equipment to maintain the property is covered BUT alot of the time Tools are only covered up to a certain amount per loss. Same goes for guns, jewelry, collectibles and things of that nature. These are all things that can be scheduled directly on your home owners or a seperate inland marine policy.
Again things do vary from state to state and between different companies so its always best to call your agent when in doubt.

Hope this helps.

[XS29L9Bxxxxxx]

Good info above!

I think the key here, is most people have probably not given this the thought they should...


An agreed value policy is wise on a car like the Charger, as you agree on the payout in case of a loss - however, there are limitations on use and mileage. However, that is a small price to pay for guaranteed value vs. some # they might come up with in case of a loss.   

[AKcharger]

Mine is through Grundy, agreed value of $45K limited to 3K miles a year drivers over 25...$320 a year

[69bronzeT5]

My Charger isn't insured but I do have storage insurance on it that costs me $30 a year and it's insured for $13,000. My Duster is apperentley going to cost me $400 for 3 months with full coverage (summer). My Mustang costs me $2,100 a year with full coverage We don't get choices with insurance companies though, we HAVE to use ICBC (Insurance Corporation of British Columbia)

[Just 6T9 CHGR]

American Collectors Insurance Agreed Value Policys....50k on the Charger & 9k on the Mustang...$490 a year

Also have to remember pricing & availability vary from state to state.... The same policy written in Ohio wont be the price as the same policy written in NY

[bill440rt]

American Collectors Insurance Agreed Value Policys....50k on the Charger & 9k on the Mustang...$490 a year

Also have to remember pricing & availability vary from state to state.... The same policy written in Ohio wont be the price as the same policy written in NY

ACI here, too.
Currently in a claim with them. This is the second claim I had to file within the past 12 years or so.
Agreed value on all cars. There are some mileage restrictions, but I'll never exceed them within a year.

[bakerhillpins]

My Charger isn't insured but I do have storage insurance on it that costs me $30 a year and it's insured for $13,000. My Duster is apperentley going to cost me $400 for 3 months with full coverage (summer). My Mustang costs me $2,100 a year with full coverage We don't get choices with insurance companies though, we HAVE to use ICBC (Insurance Corporation of British Columbia)

Your paying for your youth Cody. I'm actually surprised the Mustang only costs 2k a year. I knew a few guys back in high school with corvettes and the premiums in PA were astronomical, so in order to be able to drive the car in the state (required insurance) they had to put up a bond as a collision insurance policy.

[XS29L9Bxxxxxx]

Agreed value seems to be the only way to go on a classic / muscle car 

[68coronetGLwannabe]

I have stated value on all 3 of mine with Farm Bureau. Runs about $200 a year. I used to have Grundy and no one under 25 could drive them. My son (18yrs old) helped work on them so I wanted him to be able to drive them to Shows with me. Farm Bureau say anyone on my policy (which he is) can drive them.

[Wicked72]

My brother inlaw is paying $5100 a year!! Hes got a lexus sc300 that he just wrecked. He just lost his license for 6 months before the wreck. Hes got another license court date coming up for one of many speeding tickets. Talk about screwed! They just told him today the value of his car is $4400. So $500 deductible plus they want $700 to buy the car back, he owes $1900 on the car from a loan he took out on it. He tried to get me to co-sign! HAHAHA . I guess I look like a dumbass or something but it turns out im not. So he will have about $1300 left.... To bad he has stupid as a middle name. Hes going to loose his license for a few years but he wants to buy another sc300 shell and make another one... I would save it and move on but theres no cure for stupid...oh well.

Kinda in and off topic but I figure I would share that. Hes got insurance thru the state so they wont drop him. I was going to look into grundy but I want to drive the car till the world runs out of gas so Ill be making a ton of calls to find the right plan. The car is under my home owners atm for an agreed value of $4000 and its in pieces all over the garage lol

[R6red4spd69RT]

State Farm $175/yr, max 3000 mi/yr for 40k coverage.

[Tilar]

Ohio Mutual $180 a year. I checked with Hagerty but they don't insure one you might drive to work.

[ITSA426]

I insure with Hagerty's because they are good at what they do.  My one claim with them was handled better than any I've had with any other insurance company, and I can't beat their rates.  Agreed value, no deductible, and I can have it repaired by people competent with my type of car.  Absolutely no complaints.  They may ask for an appraisal and pictures but it's all part of being honest with each other.

[Charger-Bodie]

I insure with Hagerty's because they are good at what they do.  My one claim with them was handled better than any I've had with any other insurance company, and I can't beat their rates.  Agreed value, no deductible, and I can have it repaired by people competent with my type of car.  Absolutely no complaints.  They may ask for an appraisal and pictures but it's all part of being honest with each other.

I also have Hagerty. My Dad is an agent for them. My Daytona clone is insured at 80k and my 69 chevy p/u is at 20k . So 100k coverage and its like 625.00 per year.

[68blue]

We are moving and changing companies. When I was asked about the charger I mentioned that it was really just a collection of parts in 3 different locations, without missing a beat she just asked how much the pieces were worth if piled up in one place. She then smiled and said to let them know when the pieces started moving under thier own power. I guess you could call that agreed value. 

[twodko]

I insure with Hagerty's because they are good at what they do.  Agreed value, no deductible, and I can have it repaired by people competent with my type of car.  Absolutely no complaints.  They may ask for an appraisal and pictures but it's all part of being honest with each other.

I insured through Hagerty's as well. The above says it all. Our R/t is currentlyy insured for $28k, agreed value and up to 5k miles per year which we don't reach even with all the shows we enter. $119 per year. This will be increasing because our car is finished and we need an agreed value of $55k. Hagerty's IMO

[1BAD68]

I have Hagerty too.
Agreed value of 20k with no stated mileage limit and 50 mile road service plan costs me $180.00

[knitz01]

Anyone insure in prosess project? im worryed about theft and not getting crap for it.... i rent so will renter insrance cover it. It dont drive half in peices.
Thanks

[Charger-Bodie]

Anyone insure in prosess project? im worryed about theft and not getting crap for it.... i rent so will renter insrance cover it. It dont drive half in peices.
Thanks

That's one of the best parts of Hagerty....You can insure it while in-progress. I have gradually raised mine from 10k right on up as more stuff has become part of the project such as when my Hemi showed up.

[Brass]

I have Hagerty too and I'm happy with them.  Agreed value and no mileage limitation to speak of, all at a reasonable rate.  I think the only requirement is that the car needs to be garaged.  (Which it should be anyway.) 

Those with strokers: how did you answer whether the car was "modified" or not?  If you answered yes: how much did it impact your premium?  I'm considering a low-deck stroker in the long-range future, and I'm wondering how much that might cost me in insurance.  I don't like splitting hairs with insurance companies but still...  (Sorry for the hi-jack but it's somewhat pertinent.)