Insurance

[mad4hws]

thought I would post this out here - just in case someone else can benefit.

I've been a customer of Metlife for 35 years (man I'm old). But, a few recent incidents caused me to take a look around. I've heard great things about USAA, so I dug out my old DD214 from when I exited the Army 100 years ago and got a quote. The rate difference was significant - about 20% improvement from MetLife. So, we switched everything over.

However, the Patrol quote was a little troubling. they asked what the cost was when it was brand new. Having no idea what this cost in Colombia in 1973, I guessed $4000USD (which might actually be high). Come to find out that if I were to get into a wreck, they use a depreciated cost basis for coverage - this thing would be totaled if I got into a regular fender bender with $4000 depreciated over 50 years! so, that policy just won't work.

I called Hagerty. The way they explained their policy to me is that it is a guaranteed value (I put in $20k, probably a little ambitious, but what the heck). If I were to get into a wreck that totaled the car, they would sign the title over to me and i would get $20k guaranteed replacement value so I could go rebuild it. How awesome is that! And, the annual premium is less than either Metlife or USAA. I'm now signed up with Hagerty on the Patrol. Yippee. Ready to put some miles on this baby (or kilometers, because that's what the odometer measures).

[jwgreen]

Yeah USAA is great but I figured the Patrol would not be a good option there. I plan to do the same thing when I get road insurance on mine. An agreed value policy, it's the only way to go with a custom car or an old one.

[moore_rb]

Agree- Hagerty is the only way to go. In my experience, no other company competes in the classic/collector car insurance market... None.

Besides offering the no hassle "agreed replacement value" policy, their road side and towing assistance services are awesome, and their customer service is also aces.

The other cool Hagerty policy feature that I love is the "buy your totalled car back for peanuts" option, which allows you to buy back your totalled junk, so you can use it to donate whatever good parts are left, to the rebuild project.

[RiverPatrol]

I've had Hagery on all of my Patrols for years. Best rates for collector vehicles anywhere. I think I'm probably the one responsible for adding the Patrol to their database.