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?

No - never heard of it. I use Hagerty too.

News to me too

I would ask for the details in writing.

What is the insured amount?

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.

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

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.

I'm gonna have to check it out when I renew in a few months.

I have it

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…

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.

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.

I use Hagerty and have replacement insurance and collector plates. Will definitely add the "Cherished Salvage"!

Thanks!

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.

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

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.

Another Traveling Man. I wonder how many of us there are here?

this thread from a few months ago.

I added Cherished Salvage when I renewed my Hagerty policy today.
It increased my cost by $130 for the year.

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.

Hagerty has never required me to keep any of my cars in a garage. However I told them when I started with them it would not be garaged. So it might be a requirement for the rate you received. Hopefully I will be able to garage two cars soon after I install a lift. I spent most of the summer remodeling the garage. I still need a new floor poured

The hell? Did you get hurt Byron? What hit you???

Had Hagerty for years. Collector policy gives me 5k per car per year, so I'm fine.
They did require mine to be garaged.
4 cars 600ish a year agreed value.
No claims, but I will check this out. I have my primary insurance and my Hagerty policy through my AAA agent.

Hagerty uses Essentia for their insurance. Maybe that agent has access through them.

Oh . . . . . . and it was also required that I had something else as a Daily Driver.

FWIW Hagerty refused to cover my 914 due to its track/race mods - anyone else run into that?

They did ask me that but mine is stock so there was some reason? I went with Grundy, less expensive same coverage on my 81 911SC but it must be garaged. My six and another little gem a 64C are not fully restored but Haggerty covered both of them. Grundy said they had to be 75 percent or something completed, Close but not quite. I do like that buy back feature though.

It's called "Cherished Something" and it only applies to 2005 and older cars.

Not an issue with 914's but a GT4 or GT3 don't qualify........

I used to have hagerty for years.....never had a claim,,,,,,,,, then back in around 2001 or 2, they refused to renew my cobra replica I had at the time.....even though it had been insured with them for years.

They said (at the time) that they no longer were interested in insuring those types of cars.

Well,,,,wasn't that nice of them......wait until renewel time to leave me scrambling to find coverage somewhere else because they decided I was not worthy.

I was a good customer with a clean driving record and a multi car collection,,,,and they basically let me know they didn't want my biz, all because of claims they had with a similar type of car from other people.

Message received! I currently own 11 collector cars and insure them all through one of their competitors.

Sounds like I need to talk to Hagerty, I'd definitely want to pull the drivetrain and other parts out of my car if it were ever wrecked beyond repair

Do you have blanket coverage for other vehicles with Hagerty? I got a "Cherished Salvage" quote for my 914 for more than $800 per year!

YIKES! No, my 914 is the only car I have ever had covered with Hagerty. I was also told that without cherished salvage I would still have the option to buy back the car if it were totaled by paying the salvage value. $800 seems insane.

@Jamie ? What was the Agreed Value for the car?

What was the price without Cherished Salvage?

I valued the 73 914 in original condition and 58K miles at $60K.

$60K coverage including Cherished Salvage for $800 / year sound correct for Hagerty.

You are also paying for Unlimited Mileage, which I am sure you are not utilizing.

You would probably be better off with a policy that had use restrictions more in line with your driving habits.

My policy with Grundy expires in a month and was thinking about switching to American Collectors primarily because American Collectors allows occasional (once a week) "normal use" like going to work, picking up food, running an errand.

Anybody have an opinion on American Collectors? Are there any others that allow occasional use? I called JC Taylor and they recommended American Collectors.

That reminds me, I need to bump the coverage value of my car when the policy comes due. I have Grundy as Hagerty was considerably more expensive for the same coverage. I had Hagerty to begin with and when I asked about their rates compared to Grundy, they refused to negotiate. Adios Hagerty.

Very timely thread, at least for me. Have had my 914-6 on St Farm for 40+ years, starting doing stipulated value about 20 years ago. Wanted to update my coverage to $60k, they are refusing right now. Sent in a bunch of pictures, will see if they reconsider. If not, the 914 and maybe everything else is going elsewhere.
I did get a quote from Hagerty and right around $800/yr for a $60k value.

I just dropped Hagerty because they raised my rate from $330/yr for $50K value to $560/yr. That's a huge increase with no change in coverage or my spotless record. Got a good quote from Grundy, but they don't allow driving for errands or work. Just "pleasure driving" and club events. I'm not a club event kind of guy and my work driving IS pleasure driving. For example, I had to drive 200 miles round trip through beautiful mountain roads for a work dinner last week. Of course I drove the 914! Heck, a trip to the hardware store takes me through 40 miles of scenic mountain twisties. Finally landed with State Farm who we have insured our other cars with for years. As long as yearly miles driven are limited, no restrictions on what the trips are for.

BTW, talked to my brother a couple weeks ago who is a product developer for Farm Bureau. He said they offer Hagerty policies through a partnership that Hagerty has with Nationwide. I thought that was interesting.

Hello All! I've been a 914 World member for a long time [used to go by SpecialK], but dropped off the forum due to having to put my 914 build on hold. I did a search for classic car insurance and it seems that most of you are using Hagerty to cover your babies, but they wanted over double the quote I got from Grundy. The insurance is for my '95 Porsche Carrera 4 Cab that I insured for $65k. Only $435 at Grundy and over a grand at Hagerty. I applied at both with identical info. Strange to me that there'd be that much of a difference.Click to view attachment

Just make sure the use conditions for Grundy will meet your needs. See the post above yours. Grundy was quite a bit more restrictive about how I could use my car to the point I went a different route. I've now got Hagerty freedom with close to Grundy price but I'm told State Farm has a bad reputation on paying claims. Seems they find a way to screw you no matter who you choose.

I have two 914s insured with Hagerty for the same value agreed value. Both are 1974 model year but I do have to pay roughly 15% more for the one with a 3.2L conversion because it is "modified" over the stock Bumblebee, although it is otherwise stock.

One of Masonic brothers is an Hagerty agent and told me about this, so yes, I is a real thing.

I have Hagerty and Cherished Value is on my Porsche. When my Agent added my Acura to my policy, she didn't add CV. I totalled my Acura, Hagerty is being good about paying me for the Loss, but wants an exorbitable amount for the Salvage!

We had a State Farm agreed value policy when Betty's car got hit. They treated us right on the claim. They paid off then they went after the guy that hit me. But they raised the rates on it after that. When we decided to switch to Hagerty, we talked to our State Farm agent. He told us that State Farm was no longer offering agreed value policies. They were in negotiations with Hagerty to have State Farm resell Hagerty agreed value insurance for all classic, vintage, and antique cars. That way State Farm doesn't carry the specialty insurance, and they still offer the multi-car discounts, and one insurance bill.

But we have not seen that happen yet.

My agent said they also sell Hagerty but at the same price. She said it was no advantage for me to bundle with her. That was 6 months ago.

I have American Collectors and they quoted the buy back at $79 for the year or buy it back for half the salvage value out of pocket.

Worst company I have ever used American Collectors. I had a vintage Corvette insured through them that was stolen. A year later and an attorney I had to hire, they finally paid my claim. Never.Again.