Anyone insured with Hargerty, on agreed value on your car?

[Back N Black]

I talked with the insurance company and they said send pics and description of what was done to the car and they would determine value. What are your experiences, pros and cons. I don't want them to tell me my car is worth less than I think it worth.

[garner7555]

I have them.  I have the value set at $60,000 on my car.  They didn't require anything from me to set it up at this amount. 

My idea about why they would want to see documents and details about the car are to prove it is worthy of insuring at a higher amount.  They keep up with sale records so they have a decent idea what it is worth, so if you ask for more than that amount, then they will want to see documentation to prove the value is higher than average.          

[Birdflu]

My idea about why they would want to see documents and details about the car are to prove it is worthy of insuring at a higher amount.  They keep up with sale records so they have a decent idea what it is worth, so if you ask for more than that amount, then they will want to see documentation to prove the value is higher than average.          

  We have six Mopars insured with Hagerty and they've always insured them for the $$$ I've requested. Not saying you do, but I do not insure my cars for exaggerated values. No sense in paying higher premiums over the years. I typically will review the insured amounts every few years to make sure they're in line with current values.

[ACUDANUT]

AMERICAN CLASSIC CAR INSURANCE.

[armor64]

not on my project 68 yet, but the agreed upon for my 78 gmc heavy half was 15k  (Canadian), it was set to 10k before i finished the resto, then i sent the updated pics and they upped it to the 15 i requested.

a little afraid of the fine print on Hagerty, but will keep it for now.

[4cruzin]

Yep both my mopars are insured with them at an agreed amount . . . 

[chargerperson]

Use Hagerty, insured for my requested amount after sending pictures.  I don't have time or skills to do the work on my car so it was a complete restoration/restomod creation which was quite expensive.  Fortunately, car ran in a couple of magazines so i used the articles to help justify the insured amount.  Like many restorations sourced externally it is very likely I spent more than the car is now worth.  I insured the car for $125k (can regrettably justify with receipts and then some) which may be more than the car is worth on the open market but less than I spent.  Really like the resulting car but boy was it expensive.  In any case, Hagerty was pretty reasonable with photos and magazine articles to support.  Did not ask for receipts.  Given insured value I expected a little more scrutiny.

[poppa]

NCM , they have a "9 to5" thing where you can drive to work a couple times a week. Agreed value. Just sent pics.

[67440chrg]

I have Had agreed value insurance with them for a while. I have never had a claim but hear good things about them. I sent pictures and asked for a reasonable value stated.

[alfaitalia]

Over here classic car insurers will cover it for any amount you ask. Want to insure your rusted to pieces Dart for half a million...no problem Sir! Why would they care what the car was like?..at the end of the day, on an agreed value policy, they are just insuring a certain amount of cash rather than a car..the higher the amount the higher the premium....so why would they care?

[garner7555]

Over here classic car insurers will cover it for any amount you ask. Want to insure your rusted to pieces Dart for half a million...no problem Sir! Why would they care what the car was like?..at the end of the day, on an agreed value policy, they are just insuring a certain amount of cash rather than a car..the higher the amount the higher the premium....so why would they care?

I have dealt with salvage vehicles all my life and it does matter to them here.   A moderately bad wrecked car that is worth $100,000 will bring $30,000-$40,000 at salvage auction (this can vary depending on damage).   A $3000 car that is moderately bad wrecked will bring $500-$1000 tops at auction.  In the case of fire or theft there is no return, but in collision, water, or storm damage they can recoup a portion of their expense.   

[John_Kunkel]

Nice thing about Hagerty is they will honor the agreed upon price even as the car ages and possibly drops in value.

[Back N Black]

I was happy with the agreed value that was determined by Hargerty and if the car is totaled I get the car back at no cost to me, no buy out. 

[birdsandbees]

Applied on Monday with a few pictures attached to the online application processs. Fully insured with slips on Wednesday and on my Bee I asked for 60% more than they show a #1 car at for value. Not as much as an email questioning it from Hagerty, they just took my money.

[Aero426]

Applied on Monday with a few pictures attached to the online application processs. Fully insured with slips on Wednesday and on my Bee I asked for 60% more than they show a #1 car at for value. Not as much as an email questioning it from Hagerty, they just took my money.

And a lot of times, I think that is the case.     You are going to pay more.   And in the unlikely event they have to pay out,  they will.     

An acquaintance had a car lost in the Texas flooding.   One of a kind, he had just finished it.   It was probably over insured by 100 percent on the agreed value.   It was too much money to turn down.   He let the car go.

[billssuperbird]

I have Hagerty Insurance no problems

[HANDM]

I'm going with them for the Charger, Challenger and Scout

Charger at 40k
Challenger at 20K
And Scout at 9600
Funny thing about the Scout is even at the lowest tier they have which is number 4, they will insure it for that amount and this thing is a rusted out shitbox with low miles and perfect running gear....

Another thing I noticed is that where you enter the value it says "let us help determine the value" and with the Challenger and Scout you can do just that but with the Charger that option isn't there. Must be that Charger values are all over the map?

[Rudderguy]

If you are a Canadian....SMI or Saskatchewan Mutual Insurance provides the same insurance as Hagerty...for half the premium.