RE: Hagerty Insurance

[djunod]

"Stated Value" going off a professional appraisal is what I would recommend.

"Actual Value" can end up ripping you off.

[COPO]

I think both Hagerty and Grundy are good choices. Hagerty is typically a bit less. You can get an instant online quote with each company to compare. Neither company requires an appraisal. Just tell them how much insurance you want, send 2 pictures, fill out the application and pay the first year's premium and that's it. In the case of a total loss, they will pay the value of your policy. try www.grundy.com and www.hagerty.com

[NWYENKO]

I did a quite a bit of research about a year ago and ended up switching to Hagerty. Their policy is "agreed value" which is important. They are a sub of CNA insurance, one of the largest in the country. I did have to have appraisals and pictures. I later updated appraisals and they just sent me a bill. They have been great to work with so far but I guess you really never know until you need them, which I hope NEVER happens.It works out to about $6 per $1000 Nd you only pay for 1 liability policy. I think there may be difficulty if the car is modified. Cars have to be stored in locked garage and you have to prove ownership of a daily driver. Jim

[mhassett]

Stated Value -VERSUS- Actual Amount
Which way to go for insuring my cars??
Pros and Cons?? Comments Welcome-Please
Thanks again, Mark [img]/ubbthreads/images/icons/confused.gif[/img]

[djunod]

"Stated Value" means that if something happens to the car, such as totaled or stolen, then they pay you EXACTLY what you said the value was when you bought the policy. This is what we have on my Maco, '82 'vette, '68 Camaro and what we had on my sons customized '69 VW Beetle.

"Actual Value" means that they look it up in the Kelley Blue Book (or some such) and pay you what that says. Which is often times way too low.

My son's '69 Beetle was just recently totalled out. If we would have only had actual value, then they would have paid around $500. Since we had stated value, they paid exactly what we said it was worth.