Insurance

[MrMopar64]

I'm look'n around for insurance so I can regester the project.......
Has anyone out there used AON collector car insurance?
I checked Hagerty and AON is less........  Grundy will not give a quote in Ca over the web  :?  so I still have to get ahold of them.
Thanks for any help

MM64  

[Uncle Bob]

While not having any experience with AON I'd still like to comment about pricing insurance.  Having been on the other end where folks came to me for repair, thus using their insurance, I've learned that many learned that premium amount alone is not the only way to judge the value of a policy.  Perhaps you've already learned this yourself, but maybe others could benefit from your post.

I have had Hagerty for many years, and periodicaly check to see if they're still in line.  Several times I've found lower premiums, but when comparing policy limitations, deductibles, and coverage limits the lower cost policy either doesn't offer a seemingly minor coverage, has a deductible (which the typical Hagerty policy doesn't), or doesn't offer as high a "basic" coverage as the Hagerty policy.  Once adding the higher dollar limit coverage, the pricing becomes more equal, or usually the Hagerty is slightly better.  It's that comparing apples to apples thing.  The other important factor is whether the pokicy is for "stated value" or "agreed value".  While many folks think those two terms mean the same, i.e. I pay premiums for a $20,000 valuation on my car, so if it's totalled I get $20,000, that's not the case.  An "Agreed Value" policy works that way, but a "Stated Value" policy doesn't.  On a "stated Value" policy the STARTING value of your vehicle is based on what you and the insurance company agree to, but then, hidden in the language of the policy is a provision for them to depreciate that value over time.  So while you start out at the areed $20,000, if it's totalled a couple years later you get some lesser value based on their depreciation schedule.  Since they know they[ll be paying out less, they can price the policy lower.  This is just one example of how policies differ, and not understanding the distincitions of terminology can cost you if you have to make a claim.

The other part of evaluating a policy, or better stated, the insurance company, is how they settle a claim.  This is the tough part since most folks don't get much experience with this part of it.  That's what's tough about insurance, you can go 20-30 years and never use it, but you've still paid for it.  Pretty strong motivator for just shopping price for something "You're never going to use", but are required to have.  I've found Hagerty to be a pretty reasonable company.  I've seen where they are realistic about the claims process, and don't try to chippy away at the repair to save a nickel or two.  Also, at the coverage end they've been realistic.  Up until last year I had a Cobra Replica in my fleet.  About 3-4 years ago there was a high incidence of knuckleheads crashing this kind of car so the insurance industry as a whole (they all share a lot of loss data so, not surprisingly, they come to many of the same conclusions)got nervous and many companies quit covering Cobra replicas.  Others imposed very stiff premiums, and gangs of restrictions.  While Hagerty did impose a $250 deductible (the other rods still had $0), and raised the premium about $100, they didn't just drop me out of hand as I'd heard other companies had done.  Just for drill, I checked a couple other companies and they just declined to consider covering my cars.  Perhaps Hagerty saw that they had covered me for anywhere from 4-6 cars for many years, and had never had to pay a claim, I don't know.  But they were reasonable in what had become an unreasonable slice of the market.

As anyone who's worked with Geico or Progressive (in the "normal" car market) can tell you, one of the ways they keep their premiums down is by refusing to pay for reasonable, and necessary steps in the repair process.  They're very hard nose about it.  Some shops will fix the car correctly just because they value their customer, most will shortcut the job in areas that aren't immediately apparent to make up for being underpaid.  Hopefully someone can come on here who's had experience with AON, especially in claims handling, and can let us know if they're a good company to deal with.

[MrMopar64]

Thanks Uncle Bob for the info.......
The price between AON and Hagerty is not allot but AON has no mileage limit and I really plan on spending allot of weekends in it   after spending 4 years building it I can't see letting it sit in the garage  

MM64  

[fatkoop]

I have AON insurance on 3 cars.  I chose the value, 25K, 25K, 15K.  Unresricted milage, no nonsense. Total bill is about $775 / year.  Never had to file a claim yet, so I can't comment on how "friendly" they are.  I've heard good things about Grundy,  too.

[cmeads]

Sorry but this might sound like a commercial but it really isnt.

I am the Underwriter for CHROME Specialty Car Insurance
(800-CARBUFF) and I think Uncle Bob makes some very good points in his post and I agree that Hagerty is a very good carrier.

However another thing that you need to watch when purchasing insurance are gaps in coverage.

For example: Let's say you have your daily use vehicles and your homeowners insurnace with company with company A and your specialty vehicles with company B. You may unknowingly be creating a gap in insurance on the specialty vehicle by not having it insured on the policy with your daily use cars.

A good example where this may come ito play is while you are working on a vehicle and you have parts of the specialty car off of the vehicle like the hood, fenders bumper and some other stuff. Your garage gets broken into and the parts not on your specialtycar are stolen. Company B the specialty car company may say that since the parts were not on the car at the time of loss they are not covered by their policy. Company A could say that since the items stolen are part of an automobile that they are not covered by the homeowners policy.

If you had all of your coverage with company A, the coverage would be there because whatever wasnt covered by the auto policy would be covered by the homeowners. Of course this is just one weird example but that stuff happens and you don't want to find out there is no coverage after a loss has occured.

That is why we feel our approach to the specialty car market is better. We are a full service insurance company that carries auto, home, boat, specialty cars, motorcycle, farm and life insurance coverage. And in most states we have a product called Cashback from ANPAC. With this program if you have your autos and homeowner policy with us for three years and are claim free on both, we will give you back 25% of the annual premium you have paid for your auto and home coverage. And we will continue to do that every year as long as you do not have claims. Ask your insurance agent if they can do that!

For more info on our company check out our website at www.anpac.com

[Uncle Bob]

cmeads brings up some other good points, although we'll see how the moderators react.

Trying not to sound like a commercial for Hagerty, just relaying personal experience.  That coverage of unattached parts is another feature they offer.  I've provided a list of items along with a value, again agreed not stated, which they cover.  The other thing they'll do, which may or may not be unique, is insure a vehicle that is not on my home premise...........in other words at a remote located garage.  You do have to notify them of the location, but the coverage is available, and I believe it was no additional charge.  There are probably dozens of other considerations if you really want to be protected from loss.

[Dirk35]

Well, after searching the archives, I really need even more help.

Please, CAN we beat on this horse some more. There are only a few responses here and I am trying to make my decision for coverage  (1st time for a speciality vehicle) and would like some more opnions on who you like, and mostly...........Who you suggest to stay away from at all costs!

If you do not wish to post your opnions publicly, please do e-mail them to me or PM them to me as I would really appreacate the imput.

[HotRodLadyCrusr]

All good info so far especially the "agreed value" vs. "stated value" which is the most important factor PERIOD.  

But after having Hagerty for many, many years and being happy with a claim payoff that I had when my Chevy burned, I have moved to Grundy.  Comparing apples to apples, Grundy is less expensive for the exact same coverage.  

They do NOT have a milage limit per year BUT they do not expect you to use your "classic" car as a daily driver either.  You have to send them your declaration page (first page of your policy) to prove that you do have a daily driver.  If I remember correctly you have to do this with Hagerty as well.

You can also receive a major discount ($125.00 in my case) if you use a year of manufacture or historical plate with Grundy.  Perhaps Hagerty offers this as well.  I don't know cuz I had a personalized plate n my Chevy.

My parents also made the switch to Grundy from Hagerty and have had the misfortune to have to use their coverage this past spring when Dad crunched the front fender of VooDoo Child ('40 Ford Coupe) while in Florida for the winter.  Yes, even driving their car all the way to Flordia from Michigan and hanging out in the sunshine state for a couple of months, their car was covered.  Dad took the car where he wanted it fixed and a check was sent to dad within a matter of days.  No hassles what so ever.

It's VERY easy to go to each of their websites and get an exact quote.... I guess unless you live in California  

[Dave]

Sorry but this might sound like a commercial but it really isnt.

I am the Underwriter for CHROME Specialty Car Insurance
(800-CARBUFF) and I think Uncle Bob makes some very good points in his post and I agree that Hagerty is a very good carrier.

However another thing that you need to watch when purchasing insurance are gaps in coverage.

For example: Let's say you have your daily use vehicles and your homeowners insurnace with company with company A and your specialty vehicles with company B. You may unknowingly be creating a gap in insurance on the specialty vehicle by not having it insured on the policy with your daily use cars.

A good example where this may come ito play is while you are working on a vehicle and you have parts of the specialty car off of the vehicle like the hood, fenders bumper and some other stuff. Your garage gets broken into and the parts not on your specialtycar are stolen. Company B the specialty car company may say that since the parts were not on the car at the time of loss they are not covered by their policy. Company A could say that since the items stolen are part of an automobile that they are not covered by the homeowners policy.

If you had all of your coverage with company A, the coverage would be there because whatever wasnt covered by the auto policy would be covered by the homeowners. Of course this is just one weird example but that stuff happens and you don't want to find out there is no coverage after a loss has occured.

That is why we feel our approach to the specialty car market is better. We are a full service insurance company that carries auto, home, boat, specialty cars, motorcycle, farm and life insurance coverage. And in most states we have a product called Cashback from ANPAC. With this program if you have your autos and homeowner policy with us for three years and are claim free on both, we will give you back 25% of the annual premium you have paid for your auto and home coverage. And we will continue to do that every year as long as you do not have claims. Ask your insurance agent if they can do that!

For more info on our company check out our website at www.anpac.com

Interesting that I could insure everything I own but its a no go for the state of michigan
Dave

[btrc]

I have Grundy and am glad to hear that they came through well for Denise's dad.  I went with them because of the no mileage restriction.  I also like that they charge for only one liability, no mater how many cars you have.  I could never understand  why regular insurance comapnies charge for liability on every car you own.  You can only drive one at a time.  Of course I know money is the answer.  
 When I added a second car to my policy they just upped the agreed value of the total so it didn't hardly cost me anything for the second car.  The other reason I went with them is that I believe they will insure my Cobra replica where the Haggerty rep I talked to said they would not.  I still have the Cobra insured with my regular car insurance so I haven't actually checked with Grudny on it yet.

Bob

[chopped]

No one else use Sneed here? Hit a deer going home from the Nat's last year. They payed off fast and fair.

[CLSSY56]

I'd say check around, not only speciallty insurance.  I had full coverage on my 56 for awhile using regular insurance.  I also didn't have any misshaps.

[BFS57]

Hello;
Let me put my two cents in on this subject. I am in my "golden"(almost)
years and I elected to have all my insurance needs met by one company. My house, 2002 Trail Blazer, '32 Ford Vicky, and '57 Chevy are all insured with the Hartford. The Hartford is insuring people that are in AARP.
Haven't had a claim, thank goodness, but I do drive my '57 almost every day to work and back.

I recently had a theft out of my garage (a pressure washer) and because the value was $500.00 it met my deductable but my Insurance company said that they would send me a check for $32.50 for tax (which was over the $500.00. I decided not to process this claim.

I have  an appraisal of my '32 it was done by an independent company. The appraisal was over $40K. I think that if we have such expensive vehicles, we need to have appraisal value so that we have an idea of what we really have! I posted in another subject about keeping records and receipts of a build up not only to identify parts used but to get an idea of just how much $ someone is spending! Some guys didn't want to know as this figure was astounding to them but I really feel that if you have a loss, it's a pretty darn good idea to know what and how much you lost so that replacement (which is getting harder to come by) is closer to what the value really is!

BFS57