Auto Insurance

[Wirenut]

Has anyone insured their classic through AMAC's provider? I think they are affiliated with Travelers Insurance.
(Amac is an alternative to AARP for conservatives).
I am currently with Hagerty, never had any claims but getting close to renewal in late April and would appreciate any fedback from members if possible.

[Ford Blue blood]

I'm with Hagerty, only had one claim over the years and it was just outstanding.  Not a single problem with any aspect of the claim.  Couldn't be happier!

Insurance is only as good as when the need arises.  Being covered then having a claim only to be told the amount you think you should get is out of line (go read your policy) will tell the tale.  I think most all the major insurers do a good job.  Prices will come close with the same exact coverage.  What you need will drive pricing more then anything given a good driving record and strong credit report.

[KYBlueOval]

In my opinion, the most important aspect of the policy you are getting a proposal on, is whether or not it is a "Stated Value" policy or an "Agreed Value" policy, like what you have with Hagerty. There is a VAST difference between the two.
I hope you know the difference between them, but if you do not I'll explain it
John

[John Palmer]

In my opinion, the most important aspect of the policy you are getting a proposal on, is whether or not it is a "Stated Value" policy or an "Agreed Value" policy, like what you have with Hagerty. There is a VAST difference between the two.
I hope you know the difference between them, but if you do not I'll explain it
John

Completely agree.

Having a independent appraisal for the value, then obtaining an Agreed Value policy for that amount is the only way your really covered.  Having a dispute over the value after a loss is not why you purchased the insurance in the first place.  Stated Value policies are a joke when it comes to collector cars that appreciate in value.  Even insurance agents seldom understand the real difference between the two types of policies.  My AAA agent was using the two names interchangeably during our discussion.

[Wirenut]

I do have and like the agreed value in my policy. I have been with Hagerty for 5 or 6 years but have never compared or priced others. I just joined AMAC and found out they have discounts and associated providers and links similar to AARP.
I spoke with an agent today about coverage and pricing but do not plan on switching without references and thought if any others on this site had any dealings with them I would consider them.
Thanks for the responses.

[Lou]

Hagerty is not an insurance company, they are an agent, with that said I have used them to insure my collector cars for the last 12 years. In that 12 years I have had 2 claims and was very pleased with their service.

From 1975 to 2015 I owned and ran Vehicle Appraisers, the largest licensed antique vehicle appraisal company in the country, in those 40 years I dealt with most of the major insurance companies  (At least those who called Hartford, Connecticut home). I had many dealing with Travelers and found them to be more than fair with their customers.

I have one question, what do you mean by "Alternative for conservatives"?

[KYBlueOval]

Wirenut.........."I do have and like the agreed value in my policy".  In my opinion, the dollar value is not the issue here. it is the vast difference between the words Stated and Agreed as they pertain to a policy that you have or might purchase.
With a Stated Valve policy, you state what it is worth, and the insurance co. determines a policy cost. Your car burns to the ground. You file a claim expecting a check in the amount of the stated policy. It is not unusual in a Stated Value policy for the words "Actual Cash Value" or "ACV" to appear. What these words or letters mean at the time of a claim, is that you will more than likely have to prove/justify to the insurance co. the value of your car, by recent resales, previous appraisals etc. Bottom line, more than likely you have to prove that your burned up car was worth the Stated Value , and not the ACV, which could be very different numbers, even though you have been paying a policy premium based on the Stated Value. And you will not get a premium refund for the cost difference between the Stated Value and ACV, you settle for.
With an Agreed Value policy, if your car burns to the ground, you get a check for the agreed value. No ACV B.S.

If I were shopping for a new policy for a Collector Car, Hot Rod, Antique, whatever.........The first thing I would ask the agent is to explain the difference between a Stated Value Policy and an Agreed Value Policy. That answer would quickly determine if the conversation continues.

I totally agree with John Palmer about the lack of knowledge that many insurance agents exhibit when it comes to insurance coverage for collector cars. Their bread and butter is insuring daily drivers and policies that payout based on ACV, and not the niche market where our cars fall in.

Those of you here on the Forum that have been in the insurance business, please correct anything I said here. I do not claim to be an expert. I just have information that I've learned over 50 years of collector car ownership.
John

[Ford Blue blood]

I have one question, what do you mean by "Alternative for conservatives"?

Lou I believe he is referring to the "political" positions AARP has supported.  They were big pushers for Obama Care.  They still support Democratic candidates and their positions. 

[geraldchainsaw]

car insurance is like life insurance,  costs money over years,  life insurance  who cares your dead anyway.  but i have had hagerty for 25 years,  only one claim,  no problems,  in fact last time i talked to them they mentioned that i was one of their  oldest members ,  that goes with this forum also,  the oldest member,  going on 83

[Wirenut]

Great responses, It's good to hear from people that have a better knowledge of insurance than I do. I did not realize Hagerty was an agent and not an insurance company. That makes sense, I do go through an agent for Allstate on my daily drivers and home.
I mentioned AMAC as an alternative to AARP due to AARP funds going to the DNC and planned parenthood. Not to stir up any arguments or controversy, It's just that I had no idea until recently there was other options for senior discounts and supporting an agency that is in line with my beliefs. 

[thomasso]

I've had policies with J.C. Taylor since the 70s.  I've only had one claim when I hit a deer with my Rivera. One estimate and I promptly received a check.  Recently applied for a windshield chip repair, window guy said it couldn't be repaired satisfactorily so I opted to just leave it alone.  They did however offer to replace the windshield.

[SkylinerRon]

Have J.C.Taylor for almost 40 yrs, no problems.

Ron.