Hagerty Renewal Premium Takes a Huge Jump

[Phil Gevertz]

The coverage amount for my Mark II is only $20,500. I know it should be nearly double that, but I am taking my chances. The PREMIUM went up from $119 to $147 this year. Does anyone has an explanation? Similar experiences?

[Shawn Newcomb]

Somebody has to pay for the damages at Russo & Steele Scottsdale...:p

[Barry Wolk]

Actually, that's the answer. They are only allowed to make so much money. Conversely, they are allowed to make up their losses. They have lowered prices three times since I've been with them and no one's said a word.

Yes, I guess percentage-wise a jump from $119 to $147 may seem like a lot, it's still pretty damn cheap compared to regular insurance, or anything related to the Mark II.

[roger]

still the best deal going in auto insurance!

[lincoln mark]

O.K. Barry, figure this one out! 2009 rates 56 Preimier at $15,000, A 56 Mark ll at $15,000=$343. NOW, 2010, same 2 cars, same coverage =$335 ? I just take the plates from one of the two and move them to one of the other Lincolns if I drive them to a show. I will not let anyone else do the body work anyhow. I would make a call and try to see if they saw your car on the internet or if they are hoping you just did not notice. Later, Mark A Maromonte.

[Barry Wolk]

Hi Mark,

I don't understand your post at all.

[lincoln mark]

Hi Barry, Sorry to confuse you. My rates went DOWN ! Maybe they saw your car on the show circuit and know it is more than a $20,000 car. After all they are a insurance company, and most are out for the money. Mark

[Barry Wolk]

OK, now I get it. My rates went down, too. I think people with single cars got rate increases while people with multiple cars got discounts.

[lincoln mark]

Did anybody out there also have there rates go down in 2010? You would think if they raised Barrys, that they would raise them across the board. Mark.

[Barry Wolk]

Our posts must have crossed. My rates went down, but my premium is over $3,500 a year so I get a substantial discount.

[lincoln mark]

Barry, Just saw your post about the 2 car discount. I guess you just have to put that limo on the road to save a few bucks! Sounds like a good plan to me. Later, Mark.

[Barry Wolk]

Actually, I have 6 vehicles and a boat insured with Hagerty.

[lincoln mark]

Our posts crossed again. $3500.00 is not bad for all the nice stuff you have. I tried to insure my Lambo Gallardo with them and they were the same price as Allstate, $3860 per year. I am sure it was because they knew it would be used. So I have 2 insurance companys, Allstate and Haggerty. Its a pain, but it is cheaper that way. Mark.

[lincoln mark]

Sorry Barry , I thought that was YOUR post about the rate increase. It was Phils! So all that was meant for Phil. Yes that was confusing. Sorry, Mark.

[Don Henschel]

The coverage amount for my Mark II is only $20,500. I know it should be nearly double that, but I am taking my chances. The PREMIUM went up from $119 to $147 this year. Does anyone has an explanation? Similar experiences?

I wish my premiums were that low! Try this:
1950 Merc sedan with $12,000.00 value coverage with $200.00 deductable and 2 million liability with glass-$221.00+$123.00 registration fee on the plate per year Total price $344.00 per year.
1956 Continetal Money Pit with $35000.00 value coverage (would be appraised higher if I would just put it all back together:rolleyes:)with $200.00 deductable and 2 million liability with glass coverage included-$586.00 +$123.00 annual registration fee on the plate with a total price of $709.00!

[Barry Wolk]

Your money pit would only cost $210 annually for full coverage at a $35,000 agreed value policy from Hagerty.

Why would you spend more?

[Don Henschel]

How much red tape would I go through with out of country insurance? Like the old saying goes.......you find out what you have for insurance when you need it.

[Barry Wolk]

Sorry, that's right, Hagerty is not allowed to sell in Canadia.

[Don Henschel]

Plus the Government owns the Insurance company in the province I live in for auto insurance, kind of like a monopoly:mad:

[Barry Wolk]

Our posts crossed again. $3500.00 is not bad for all the nice stuff you have. I tried to insure my Lambo Gallardo with them and they were the same price as Allstate, $3860 per year. I am sure it was because they knew it would be used. So I have 2 insurance companys, Allstate and Haggerty. Its a pain, but it is cheaper that way. Mark.


Hagerty has a product you may not know about. They have a seldom use policy. The insurance for my '88 750iL was about $1,250 a year through Nationwide. Through Hagerty the premium is only $250 a year. Some restrictions may apply.

[Chuck Lutz]

I'm fairly satisfied with the cost of the coverage with my regular insurance. We talked about this subject before and there were some good points that State Farm had about keeping all my cars together.
Earlier I mentioned that I had to get in touch with the CA DMW about the $324 for registration. I ask why the registration on a 54 year old car was 3 times a 2001 Nissan Quest. I was told that the registration was based on the value. Since I purchased the car at an auction all the value was right out in front. (not that I would lie but what if I paid more than it was worth.. I've been known to do that.. LOL) I guess I have to live with it. I'm not really complaining. I just want to know where to put the freaking stickers they send. :)

[Roger Zimmermann]

USA is a cheap country for cars and taxes related to cars. For my 3 old Cadillacs, I pay about $ 830.00 for road taxes per year with 1 license plate set. If each car would have his own license plates, I would pay 3 time more.
For the third party insurance, the amount would be about $ 525.00 par year; however, as I had no accident with these cars, I pay only $ 175.00 per year. For fire, theft, flooding, I pay for all 3 cars about $ 635.00. The first $ 910.00 of damages are not paid by the insurance.
Road taxes for my 2000 DTS are about $ 675.00 and insurance about $ 975.00 per year.

[lincoln mark]

You may be right. They did not ask if it was a toy or a driver. I put about 6000 miles a year on it. Before I send the check I am going to give them a call back. Its a 2007, it might be too new. It is worth a shot! Thanks, Mark.

[Shelly Harris]

Chuck. Are you getting "agreed value" coverage from your company? When you talk insurance you guys have to be detailed in what you're buying.

[Chuck Lutz]

I believe it's an agreed value. I remember us talking about a $40k value. Good point, I should check.

[Shelly Harris]

I've got to call Hagerty on Monday because I need "agreed value". Since purchasing it I've only put on 300 miles so I only have liability coverage w/AllState because the State of Illinois requires it. ($93.00 every six months) But come summer I hope to drive it alot which raises the risk of collision or theft. If the car were stolen I don't want to get dicked around by an adjuster as to its value... which means get agreed value coverage.