So outside of the usual Hagerty and Grundy.....are there any other insurance companies to consider & use for a stated value kind of policy?
If so, any experiences or recommendations to share?
If so, any experiences or recommendations to share?
Collector/Specialty Car Insurance?
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Go here: MK Insurance Agency - Our Love is Your Passion
Ask for Tamra or Jackie. 866-695-2774 or email at [email protected]
Tell them NJSteve sent you. (And, no I don't get a commission I just like annoying them by sending them new customers and then making them feel guilty for not even sending me a complimentary hat!)
Here's the listing of vehicle classes the cover: Collector Auto Classes - mk insurance agency
They actually sponser the yenko.net website and give a discount to people who are members there. Maybe they'll do a discount here as well. Doesn't hurt to ask. MK Insurance Co - The Supercar Registry
I've been insuring all my cars with them for over 15 years. I left Hagerty and Heacock and several others I had over the years that kept raising my premiums for no reason whatsoever. MK was less than half the coast of Hagerty, and gave me all sorts of mileage choices from 1,000 miles a year on up.
They insure modern performance cars with no issue. I have my Viper and my (now classic) 1995 K2500 Diesel Suburban insured with them, in addition to a second gen Firebird and a 71 Lincoln.
The real test is how they treat you when you have a claim and I can tell you these guys are wonderful. I had a door edge chip in my Firebird that was totally my fault - door swung wide into the concrete wall and took out a 1" chunk of paint. They said get the estimate from the place of your choice and email it to us. I did and while I was on the phone with them they processed the reapir funds. They also did the same for the supplement when it turned out that the body shop had to paint 1/2 of the car to correctly blend it in properly to match the metallic Lucerne Blue paint.
Ask for Tamra or Jackie. 866-695-2774 or email at [email protected]
Tell them NJSteve sent you. (And, no I don't get a commission I just like annoying them by sending them new customers and then making them feel guilty for not even sending me a complimentary hat!)
Here's the listing of vehicle classes the cover: Collector Auto Classes - mk insurance agency
They actually sponser the yenko.net website and give a discount to people who are members there. Maybe they'll do a discount here as well. Doesn't hurt to ask. MK Insurance Co - The Supercar Registry
I've been insuring all my cars with them for over 15 years. I left Hagerty and Heacock and several others I had over the years that kept raising my premiums for no reason whatsoever. MK was less than half the coast of Hagerty, and gave me all sorts of mileage choices from 1,000 miles a year on up.
They insure modern performance cars with no issue. I have my Viper and my (now classic) 1995 K2500 Diesel Suburban insured with them, in addition to a second gen Firebird and a 71 Lincoln.
The real test is how they treat you when you have a claim and I can tell you these guys are wonderful. I had a door edge chip in my Firebird that was totally my fault - door swung wide into the concrete wall and took out a 1" chunk of paint. They said get the estimate from the place of your choice and email it to us. I did and while I was on the phone with them they processed the reapir funds. They also did the same for the supplement when it turned out that the body shop had to paint 1/2 of the car to correctly blend it in properly to match the metallic Lucerne Blue paint.
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I have an agreed value policy with one of my 26 yo cars thru westfield out of Ohio..very easy to deal with claim wise..
Well, I have a Hagerty policy on my classics in storage. They won't insure daily drivers, usually. You have to meet a set of conditions to get approved... things like covered storage, limited use, non primary use, non commercial use.
For track insurance, I've used Gullwing, RLI and OpenTrack. I prefer OpenTrack for casual insurance, and RLI more for a permanent policy on a regularly used race car that does only time trials. For pure racing coverage, I have used Gullwing.
For track insurance, I've used Gullwing, RLI and OpenTrack. I prefer OpenTrack for casual insurance, and RLI more for a permanent policy on a regularly used race car that does only time trials. For pure racing coverage, I have used Gullwing.
And God forbid you have a young driver in the household. Excluded. I was going to use them when I got my Demon because that’s who Dodge said they partnered with. They excluded me instantly.
Well it probably isn't a collector car, by any means, but I was looking at buying a SRT-4 and for the price I'm paying for it.....a "normal" insurance policy won't suffice for it (as they go off KBB for the values if something happened to it).
Well I'm paying beyond that, because the cars are rare (to find with low miles, not rusted or beat to hell) & this one is super clean.
So I don't need some crazy huge policy, but I need an insurance company that'll do a stated value policy to cover my butt here.
It definitely won't be a daily driver, and will just be a summer garage stored in a garage.
Well I'm paying beyond that, because the cars are rare (to find with low miles, not rusted or beat to hell) & this one is super clean.
So I don't need some crazy huge policy, but I need an insurance company that'll do a stated value policy to cover my butt here.
It definitely won't be a daily driver, and will just be a summer garage stored in a garage.
On your Hellcat though, right?
A SRT-4 is selling/worth more than the KBB's value at the moment is the problem, and why I'm looking for a "stated value" kind of policy.
If I pay $15k and the KBB is only like $8k tops (if something happened)....I'm screwed.
(Progressive said they go off the KBB value at the time of a incident)
Granted that $7k difference might not mean a lot to people but that's real money, & I'd be out the money AND a car that isn't exactly replaceable
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I was curious about this as well. In my case, the motor was a pretty big investment. State Farm will not cover those mods. Plus, now that it is badged as a pettys garage build, I am thinking that adds some value to the car. Insurance, as stated in post above, just look at booked values. Not sure how to deal with this myself. Watching this thread.
Thanks
Thanks
It's "agreed value" that you want, used to mainly be a Hagerty thing but others now offer it as well. It is not stated value or called anything else, only agreed value gives you the value that you listed and paid for, all the others will attempt to depreciate this value or search the want ads trying to offer you less. Agreed value is what you want.
As long as you have a garage and another car with insurance that you can daily drive, there should not be any issues accepting that car.
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On a stated value collector car policy, you tell them what you want to insure it for (within reason). For example I am insuring my '22 Sveltebody Redeye for 100K since that is probably what the current market value is. Tamra just gave me a quote for the 1,000 mile policy with a $500 deductible at $717 a year. (3 and 6K mileage are also available, also with zero, $500 and $1000 deductibles). With all my current and prior cars on my policy she never had a problem with any value I set on them.
So if you have $25K into an SRT-4, you could reasonable insure it with no problem from them. If you tried to insure if for $250,000 they might have an issue unless you had some serious documents to back it up - like it was the factory developmental prototype, yada, yada, yada,
So if you have $25K into an SRT-4, you could reasonable insure it with no problem from them. If you tried to insure if for $250,000 they might have an issue unless you had some serious documents to back it up - like it was the factory developmental prototype, yada, yada, yada,
I'd check out Liberty Mutual if they're available in your state. They are very often one of the more expensive insurance policies, but they give a lot for what you pay for. If any mainstream insurance offers something like what you're looking for, Liberty Mutual likely has something for you.
Well I guess I was meaning to say "agreed value"....whatever the term was.
So it will be garaged and I have another car.....so outside of Hagerty and @njsteve 's recommendation of MK insurance, who else is there for that kind of policy?
Grundy is another and many post they were cheaper than Hagerty.
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Just from 35-plus years of experience with four or five different classic car insurance companies over that time span, I have stuck with Tamra and her company MK Insurance for a variety of reasons:
1) They had, by far, the best service.
2) The best rates.
3) They would insure cars that the others would not. They covered my 93 Viper back when other insurance companies wouldn't - like long before it was a (now) 30 year old car.
4) Most importantly, I have had claims under my current policy with Tamra. The no-hassle claims process, superfast payment and expedited supplemental payments, sold me on them.
I have heard nothing but horror stories from people who have tried to make claims under some of the other big-name collector car insurance companies. - for example, one guy had his claim denied because the insurance company said that since he had regular license plates, not collector car plates on his car they wouldn't pay it and in addition, because he wasn't driving directly to or from an actual sponsored car show when his loss occurred - they wouldn't pay. Completely Insane! You really have to read the fine print in a policy before you sign up.
Like I said before, give her a call and get a quote. You have nothing to lose and at least you'll get a $ number for comparison use against similar policy offers from the other vendors.
And no, I have no finanical interest other than harassing her the next time I call to add another car. She did say yesterday when I added my Redeye onto the policy that if they gave out complimentary hats, I would be the first to get one. (So I got that going for me!)
1) They had, by far, the best service.
2) The best rates.
3) They would insure cars that the others would not. They covered my 93 Viper back when other insurance companies wouldn't - like long before it was a (now) 30 year old car.
4) Most importantly, I have had claims under my current policy with Tamra. The no-hassle claims process, superfast payment and expedited supplemental payments, sold me on them.
I have heard nothing but horror stories from people who have tried to make claims under some of the other big-name collector car insurance companies. - for example, one guy had his claim denied because the insurance company said that since he had regular license plates, not collector car plates on his car they wouldn't pay it and in addition, because he wasn't driving directly to or from an actual sponsored car show when his loss occurred - they wouldn't pay. Completely Insane! You really have to read the fine print in a policy before you sign up.
Like I said before, give her a call and get a quote. You have nothing to lose and at least you'll get a $ number for comparison use against similar policy offers from the other vendors.
And no, I have no finanical interest other than harassing her the next time I call to add another car. She did say yesterday when I added my Redeye onto the policy that if they gave out complimentary hats, I would be the first to get one. (So I got that going for me!)
I should've done it sooner, but I just reached out to her......waiting to hear back
Worst case, I'll go with Hagerty I guess
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