Haggerty Has Been Good To Me

I think I am out of luck. Though I have a covered parking area, it is not fully enclosed, so that seems to disqualify me for coverage. I also carry pretty high liability coverage (bodily injury & property damage) on my other car. A few of questions:

1) Has anyone ever made a claim to one of these specialty insurers?

2) How much bodily injury and property damage coverage do these policies carry at these low prices?

3) Is there any way around not having an enclosed garage?

Hagerty quoted me $271 (2500 miles) vs. Grundy $254.50 (unlimited mileage). Both were agreed value of $15K.

I think I am out of luck. Though I have a covered parking area, it is not fully enclosed, so that seems to disqualify me for coverage. I also carry pretty high liability coverage (bodily injury & property damage) on my other car. A few of questions:

1) Has anyone ever made a claim to one of these specialty insurers?

2) How much bodily injury and property damage coverage do these policies carry at these low prices?

3) Is there any way around not having an enclosed garage?

I carry 100/300 but I think I may increase that soon. I have not had to make a claim yet (knock on wood), and I don't know about a way around the locked garage thing. That was one of the few requirements for the policy.

Scott

I think I am out of luck. Though I have a covered parking area, it is not fully enclosed, so that seems to disqualify me for coverage. I also carry pretty high liability coverage (bodily injury & property damage) on my other car. A few of questions:

1) Has anyone ever made a claim to one of these specialty insurers?

2) How much bodily injury and property damage coverage do these policies carry at these low prices?

3) Is there any way around not having an enclosed garage?

1) No, I don't have one of these companies yet I have my Z on my Allstate policy with my other autos.

2) Don't know, for the same reason as #1.

3) Lie. But if you get caught, which typically happen during a claim, they will not pay out and will also non-renew your policy. It's a bad idea and not recommended but the only way around it I see unless you have a friend/relative with a garage that will let you use it or pay for a garage style storage unit (not an open air parking storage like I have for the parts car and trailer).

I carry 100/300 but I think I may increase that soon. I have not had to make a claim yet (knock on wood), and I don't know about a way around the locked garage thing. That was one of the few requirements for the policy.

Scott

Well that's what I am talking about. Say I only drive the Z 2,000 miles per year, but a very few of those miles are on a "driver improvement" track day. I crest the crown of a blind hill and there is some poor slob planted sideways in the middle of the track. I T-bone him at 60 mph, putting him in a body cast for 6 months. Is it worth saving a couple of hundred dollars per year, if some trial lawyer takes my life savings? At that point I don't really care if my Z is totaled, it is small dollars compared to the house, IRA's and other savings. I'm not trying to slam collector car insurance here, but I am interested in how well it really compares dollar for dollar with the major carriers when you want really serious liability and property damage coverage. In my experience these two items are what really add to the cost of auto insurance.

If you live in Calif, you have to be an AAA member, i just got a $7,000 agreed value policy for 75 bucks and no deductible! Go to the AAA site to get more info.

Nick

Better double check with whatever specialty insurance company your inquiring about. Most of them will not cover a car thats used for racing purposes. What about you vintage racer guys, how is your Z covered?

Vicky

If you live in Calif, you have to be an AAA member, i just got a $7,000 agreed value policy for 75 bucks and no deductible! Go to the AAA site to get more info.

Nick

Thanks, for the heads-up. I've been a AAA member for 20 years and never thought of them for this type of insurance. I'll check it out and compare it to the coverage I presently have from Hagerty on my Z and L320.

Vicky,

You bring up a good point. Most insurance companies, specialty or regular, will not cover a car that is entered into a racing event. Read the ENTIRE policy. Most guys at the track tell you that, if you can't afford to walk away from a car and leave it at the track, don't bring there in the first place.

There are always unusual circumstances, and you might get covered. Then they will either drop you or raise your rates sky high. One member of the Windy City Z Club crashed his Z at the track. At first they weren't going to cover him. His agent went to bat for him, because this event happened to be a "Driver's School". He got lucky. At a regular event, he would have been on his own.

Of course, I have heard stories of a few guys that try to get around this by having the car towed out into the country, and then push it off the road into a ditch. Can you spell "Insurance Fraud"!!?? The penalties for that just aren't worth it.

When in doubt, read the policy, and don't just rely on what your agent tells you.

Marty

When in doubt, read the policy, and don't just rely on what your agent tells you.

Marty

CAUTION!!! Not all agents will tell you everything, and not all agents know everything. I used to work for an insurance company and it was amazing how many customers would call and have no idea what insurance coverage they did and didn't have. They constantly told me that the agent just sold them what he said they needed and they didn't questions it but when they got hit by an uninsured/underinsured driver and found that they were not covered they were shocked!

Your best bet is to read the ENTIRE POLICY, BEFORE signing it and paying any money!!

You must watch out for yourself and not rely on the insurance agent to do it all for you. Ask questions if you are confused or do not understand and if you are uncomfortable with the answers or not confident in the agent's answers call the underwriting department for that company and ask them.

My Hagerty Policy has in big black print that the vehicle will not be covered if it is used in ANY type of racing event. Front page of the policy. It's all very straight forward in my opinion.

Vicky

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