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> Hagerty Question on total buy back
bandjoey
post Jun 4 2021, 05:21 PM
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My regular insurance agent found out that I have a Hagerty policy that I get directly from Hagerty, and as all agents do, wanted me to move the policy to him...Until now i didn't know regular agents handled Hagerty.

He claims that the reason is that he can get a 'special' coverage not offered direct.
For the low price of $7 monthly, should my car be totaled, they pay me the insured amount and give me the car back free of charge - no buyback amount $0.

Anyone else heard this or have that 'special' coverage?
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windforfun
post Jun 4 2021, 06:56 PM
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No - never heard of it. I use Hagerty too.

(IMG:style_emoticons/default/confused24.gif)
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PanelBilly
post Jun 4 2021, 07:38 PM
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News to me too
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mepstein
post Jun 4 2021, 07:48 PM
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I would ask for the details in writing.
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Big Len
post Jun 4 2021, 07:51 PM
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What is the insured amount?
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Mark Henry
post Jun 4 2021, 07:55 PM
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Yes I have it, it's new this year, except for me it was $50 extra for the whole year.
I have agreed value of $60K on my /6 conversion, if the car is written off I get the $60K plus the car back.
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914
post Jun 4 2021, 07:57 PM
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Bandjoey,

Haggerty offers that too..Ive got it on both of my 914's..
I forgot what is it called. Its not that expensive..
914/Alan
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bbrock
post Jun 4 2021, 09:04 PM
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Yes, I just switched my car to full coverage with Hagerty last month and they offered that to me. It is called "Cherished Salvage" and I think they quoted me $7 a month too.
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VegasRacer
post Jun 4 2021, 11:07 PM
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QUOTE(bbrock @ Jun 4 2021, 08:04 PM) *

It is called "Cherished Salvage"

(IMG:style_emoticons/default/idea.gif) I'm gonna have to check it out when I renew in a few months.
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carr914
post Jun 5 2021, 04:17 AM
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I have it
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horizontally-opposed
post Jun 5 2021, 09:24 AM
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I wonder if others offer this?

Been thinking I need to move my 914 off of "regular" insurance and onto collector insurance. For way too long, actually.

Cherished salvage would be a big bonus, as I would almost certainly rebuild if something bad happened—as I've come to the conclusion that a 914 with a small six in it is all the "vintage Porsche" I need. Unless, of course, I win the lottery that I don't play… (IMG:style_emoticons/default/wink.gif)

It's actually a smart product, as it eliminates the potential need to transport/auction/dispose of the salvaged car while taking guaranteed cash now and over the long haul.
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Dion
post Jun 5 2021, 01:07 PM
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I have American Collectors, I need to investigate this. I have an agreed value as well but need to up the ante in light of the recent value trends. Thanks for the heads up.
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Jett
post Jun 5 2021, 01:21 PM
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I use Hagerty and have replacement insurance and collector plates. Will definitely add the "Cherished Salvage"!

Thanks!
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dhuckabay
post Jun 5 2021, 01:30 PM
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QUOTE(horizontally-opposed @ Jun 5 2021, 08:24 AM) *

I wonder if others offer this?

Been thinking I need to move my 914 off of "regular" insurance and onto collector insurance. For way too long, actually.

Cherished salvage would be a big bonus, as I would almost certainly rebuild if something bad happened—as I've come to the conclusion that a 914 with a small six in it is all the "vintage Porsche" I need. Unless, of course, I win the lottery that I don't play… (IMG:style_emoticons/default/wink.gif)

It's actually a smart product, as it eliminates the potential need to transport/auction/dispose of the salvaged car while taking guaranteed cash now and over the long haul.

Found Haggerty to be way less than having it on a regular policy. Had a claim on a car recently, first day I owned it. Their claims handling is top notch.
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racerbvd
post Jun 5 2021, 05:35 PM
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Wow, wish I had that when my 968 got hit in January.


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DRPHIL914
post Jun 6 2021, 06:41 PM
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QUOTE(bandjoey @ Jun 4 2021, 07:21 PM) *

My regular insurance agent found out that I have a Hagerty policy that I get directly from Hagerty, and as all agents do, wanted me to move the policy to him...Until now i didn't know regular agents handled Hagerty.

He claims that the reason is that he can get a 'special' coverage not offered direct.
For the low price of $7 monthly, should my car be totaled, they pay me the insured amount and give me the car back free of charge - no buyback amount $0.

Anyone else heard this or have that 'special' coverage?
QUOTE(Mark Henry @ Jun 4 2021, 09:55 PM) *

Yes I have it, it's new this year, except for me it was $50 extra for the whole year.
I have agreed value of $60K on my /6 conversion, if the car is written off I get the $60K plus the car back.


yes and i have it with Haggerty, upped my agreed value with this provision, valued at $60k, it’s why i stayed with them this year even though it was more than Grundy and Leland West, i compared every single coverage, and felt like it was worth a bit extra to stay put.

So your agent is wrong, you can buy direct ans get this coverage.

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76-914
post Jun 6 2021, 11:20 PM
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QUOTE(racerbvd @ Jun 5 2021, 04:35 PM) *

Wow, wish I had that when my 968 got hit in January.

Another Traveling Man. I wonder how many of us there are here?
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VegasRacer
post Aug 31 2021, 10:14 AM
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QUOTE(VegasRacer @ Jun 4 2021, 10:07 PM) *

QUOTE(bbrock @ Jun 4 2021, 08:04 PM) *

It is called "Cherished Salvage"

(IMG:style_emoticons/default/idea.gif) I'm gonna have to check it out when I renew in a few months.


(IMG:style_emoticons/default/icon_bump.gif) this thread from a few months ago.

I added Cherished Salvage when I renewed my Hagerty policy today. (IMG:style_emoticons/default/biggrin.gif)
It increased my cost by $130 for the year.
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mgp4591
post Aug 31 2021, 10:25 AM
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QUOTE(VegasRacer @ Aug 31 2021, 10:14 AM) *

QUOTE(VegasRacer @ Jun 4 2021, 10:07 PM) *

QUOTE(bbrock @ Jun 4 2021, 08:04 PM) *

It is called "Cherished Salvage"

(IMG:style_emoticons/default/idea.gif) I'm gonna have to check it out when I renew in a few months.


(IMG:style_emoticons/default/icon_bump.gif) this thread from a few months ago.

I added Cherished Salvage when I renewed my Hagerty policy today. (IMG:style_emoticons/default/biggrin.gif)
It increased my cost by $130 for the year.


Is there a limit on your yearly mileage with these policies?
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VegasRacer
post Aug 31 2021, 10:46 AM
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QUOTE(mgp4591 @ Aug 31 2021, 09:25 AM) *

Is there a limit on your yearly mileage with these policies?

With my Hagerty policy, NO mileage limit.
The only stipulation is that the car must be kept in a locked garage.
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