Is Hagerty Insurance the way to go?

[texasz]

My Roadster insurance also says that it will not be covered during any racing event, but I can enter it still if I wanted to.

Scott

And who's your policy with? I spoke with Hagerty and they will not cover the car at all if you ever use it to race.

[johncdeere]

I'm a new owner of a 71 240Z and contacted Grundy and got what looked like a reasonable quote. The question that is bothering me is the attached document stated that only "club events" and "car shows." I want to use the car on weekend trips or going out to eat as well as "events."

Ads and TV interviews give the idea only that it can't be driven to work or alternate transportation. How do they really do and are others different?

Also aggrivated that their "no year or model restrictions" turned out to exclude my 1999 Miata.

John

[jmark]

John,

I was told you couldn't drive it to work. But I was told pleasure drives were OK. I would think a trip to dinner would fall under a pleasure drive. I have narrowed it down to Grundy & Hagerty.

[SJGREEN71]

There are a number of organizations here in California that hold "track days." These are not races, there is no competition for best lap time or any thing like that. The sole purpose is to improve your own driving skills at speeds that may not be legal, or safe on public roads. But something could happen very quickly out on that track, and someone could get hurt. If I crunch my car due to driver error, I'm not happy with the 1,000's of dollars to fix it, but it's not going to ruin me financially. If I am looking at a pain and suffering law suit from someone I hit on that track, however, that could wipe out my retirement and take my house. So for me, liability and property damage are more important than replacement cost on the car. From what I understand traditional insurance carriers are set up to cover this liability in track day events. Are there any of us out there who carry specialty insurance and participate in these kinds of events? If so how well do you think you are covered in the event of personal injury?

[johncdeere]

Mark,

Read the attached file to the email they send. It doesn't read that it would be included. It specifically excludes "to run errands." Hate to think getting hit while stopping at Wal-Mart on the way home would give me a problem,

Sorry I don't have that email on this computer.

John

[bpilati]

Generally speaking with Hagerty, your Z needs to be a trailer queen. It is for show cars, not for daily drivers, racers or shopping. That's my understanding about Hagerty.

[jmark]

From Hagerty's website:

No Mileage Restrictions. Our flexible usage policy allows for an occasional leisure drive, not just to parades or car events.

[Zrush]

Generally speaking with Hagerty, your Z needs to be a trailer queen. It is for show cars, not for daily drivers, racers or shopping. That's my understanding about Hagerty.

Sorta true, but not just for trailer queens. Most people are missing the whole point of "specialty or classic" insurance. Hagerty and others assume that you will be extra cautious with your car. They want you to watch were you park it, don't rat race through the streets and keep the car stored in a safe area. This is why they "agree" to maxium value for the cars. Some insurance companys wont even cover a car that's 30 years old and used as a daily driver, at least not with the value that we as Z owners feel our cars are worth. Zrush is limited because the car is valued at so much and would cost well over 50K to replace. Neither the insurance company nor I want to have to replace that car. I pay over $1000 for 2 Z's and a car hauler so you can just imagine what a standard insurance company would charge me.

Vicky

[johncdeere]

This is from Grundy's email that came with quote and forms to return with payment:

It is agreed and understood that the definition of “Antique Automobile” is deleted and replaced by the following:

“Antique Automobile” means:

(a) a private passenger automobile

( a land motor vehicle other than a private passenger automobile principally designed for use on a public highway; maintained solely for use in exhibitions, club activities, parades, or other functions of public interest;

Furthermore, it is understood that no coverage will apply specifically for use other than exhibition, club activities, parades, or other functions of public interest. Non-covered uses include but are not limited to driving to work, school, errands, general transportation, secondary or back-up transportation, business or commercial purposes. Coverage will not apply if the vehicle is used for racing, rallying or the participation in any speed contest, or time competitive event.

From what I'm reading, I'm scared of using Grundy or Hagerty.

[sblake01]

To me, it's pretty simple. If you have a need to do things with your vehicle other than the general outline for usage as stated by Hagerty or Grundy, don't get that type of insurance. They don't expect you to have a purpose built show car but they do expect you to treat your car with more concern and caution than you would a daily driver. That is why one of the requirements is that each liscensed driver in the household has a vehicle that is covered by a regular insurance carrier. They (the classic-type carriers) are giving you a policy for a value you set and charging you about one tenth of what a regular carrier would charge. You would expect the guidelines to be somewhat strict. If you have any reservations about that then classic car insurance is not for you.

[jmark]

Interesting..... How can they determine where you were driving the car? I mean unless the accident occurs in your work parking lot or at the Walmart..... I wouldn't be driving it there anyway. Sounds like to me both Grundy & Hagerty give some double talk. I wonder how they are to deal with when it comes claim time.

[sblake01]

I haven't had a claim in the 6 years I've been with Hagerty. I also use the vehicles pretty much as they outline. Not because that's how it's set up but because that's just how I drive them. Shows, club meets, etc. along with an occaisional drive to lunch with my wife on Wednesdays. You determine how you use your car. Again, I say, if you have any reservations, it's probably not for you.