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Shopping for collector car insurance for my 68 and wanted some opinions. Hagerty is quoting me TWICE the price of American Modern for basically the same coverage.

I've searched here and the web and it's clear that people are happy with Hagerty while American Modern is harder to find any real claims experiences on.

So I know Hagerty is good - but is it really worth TWICE the price?
 

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I think I pay about $250/yr with Hagery with a $17,000 stated value. One thing to check with Hagerty is if they’ve enrolled you in their auto club. You can cancel for savings.
 

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I've got American Modern, because Hagerty and Heacock wouldn't insure it because of the number of window dings in the ex's vehicle that were repaired in the previous 3 years. I think there was 3 for her and 1 for me. I've yet to file a claim, but the price is reasonable.
 

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I had not previously heard of American Modern so I just "Yelp'd" them. The customer ratings indicate problems. Check for yourself.
 

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I switched from Hag to Amer Mod about 4 yrs ago
yeah it is about half the price

only differences are with AM Mod they rate you on mileage tiers where as Hag is unlimited mileage.

Hagg had $250 Deductible Amer Mod gave me zero deductible.

I chose the min. tier of 1000 miles on both my cars and never come close

Im also a Licensed Agent in NY so I read the fine print and didnt see anything that would hurt me or that differed from Hagg other than no deductibles and choice of mileage tiers.

whatever you do stay away from anything that says "Stated Value"
thats a major trap.

buy only "Agreed Amount."
 

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I couldn't figure out why my 67 C10 was more than double my Mustang and Firebird (both are set around 25K for +/-$200/yr) then I started playing with their online calculator. If you check "modified" they jack the rate up over "stock". Considering my C10 is pretty much stock, just lowered with a different engine (factory I6 truck with a 350 now), I put it back to "stock".

They also include other factors, like locked garage vs. outside, parade use vs. shows/weekend cruiser, and will even up the bill if you live in a high automotive crime/theft area. Living in Atl might be one reason for it being higher.
 

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I had american modern for a few years and dropped them for Hagerty about a year ago. Super strict about everything and it was always a hassle to renew every year. I don't recall a price difference honestly. My main reason was hagerty would let me drive mine to work a few times a month.
 

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I switched from Hag to Amer Mod about 4 yrs ago
yeah it is about half the price

only differences are with AM Mod they rate you on mileage tiers where as Hag is unlimited mileage.

Hagg had $250 Deductible Amer Mod gave me zero deductible.

I chose the min. tier of 1000 miles on both my cars and never come close

Im also a Licensed Agent in NY so I read the fine print and didnt see anything that would hurt me or that differed from Hagg other than no deductibles and choice of mileage tiers.

whatever you do stay away from anything that says "Stated Value"
thats a major trap.

buy only "Agreed Amount."
What's the difference between stated value and agreed amount? I need to go back and check what mine is...
 

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I have Heacock ins. but its subsidized through American Modern. Never have had to put a claim, Thank goodness, so can't say if good or bad.
 

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I've got an Agreed Value policy with Condon Skelly. No claims filed.
I looked at a few of the carriers (Hagerty, etc) after USAA told me they'd probably have trouble adequately covering my '66.
American Collectors is one of two that USAA refers their policy holders to. It didn't take me much research to determine that
I wanted to avoid American Collectors.
 

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I have Heacock ins. but its subsidized through American Modern. Never have had to put a claim, Thank goodness, so can't say if good or bad.
Same here. I went with Heacock/AM as they were the only ones that would insure the car while it was under restoration. Now that it's done we have an agreed-upon value of $110k. I am currently paying about $550 a year, about 1/2 the cost of my DD. They do have a lot of restrictions, like it has to be stored in a lockable garage, can not be your DD, you can not drive it on errands, shopping, to work, etc. My daughter is not allowed to drive it, but she has already told me she has no interest in driving it, the hood is too long. :)

No claims yet, and when I do, I contact Heacock 1st.

ps, the coverage also covers my trailer when the car is being transported.
 

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You need to compare with others in GA only. There could be something in GAs liability laws and policies that makes Haggerty need to charge more to make up the differences in coverage.
In TX $580yr for Haggerty would be for at least about $60-70K worth of agreed coverage.

The yuge numbers that ins. cos. deal in makes the basis point a critical number. The few basis points Haggerty might charge over another seems to be made for when a claim is made. You have to look hard for a bad experience with them.
 

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I have my two '66 Mustangs & '30 Model A insured with Heacock / American Modern. Total agreed value for all three vehicles is $35K costing $235/year. Heacock is a corporate sponsor of the MCA & I get a discount being an MCA member. I don't know how much the discount is. Dean
 
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