Quandary about insurance coverage

[TBird1stLuv]

Cherished salvage... will check into this. Thanks Bill for checking into that. Sounds like you have to pay a little more to get the car back per year in the event of of a total loss.

[wcoates]

FYI:

Thank you for contacting Hagerty today!

Unfortunately, we do not have a specific brochure for our Cherished Salvage endorsement but I am happy to provide you with all the information you need to understand the coverage, please see below:

The Cherished Salvage Endorsement provides additional coverage in the event of a total loss or constructive total loss.

• The insured retains salvage rights, and gets to keep the vehicle in addition to receiving the full guaranteed value
• Coverage is sold per vehicle and the cost is 15% of the vehicle's Comprehensive and Collision premiums

[11TH GEN]

I have Hagerty on my Mustang with a stated value. Another thing I like about them is zero deductibles on collision and comprehensive. When I was getting my quote I asked about $500 deductibles. It isn't even an option as zero is standard. They can also bend the rule about the vehicle must be a third vehicle if there are two drivers in the household and only one other car, as long as you agree to a mileage limit, which I have no problem with.

[Vintage Merlot]

Has anyone actually dealt with a loss on one of their vehicles? If so, what was your experience?? Was it a collector insurance?

Yes, we collected from Grundy two years ago just before The Big Teasy Event. At the time our agreed declared value was $32,000. It started at $30,000 about 10 years prior and they automatically increased the value by 2 or 3 percent every year. I now have adjusted down to $28,000.

We hit a racoon one night going about 40 mph. The racoon was not going 40 miles per hour but we were. The car is lowered and has about 7" clearance at the front fascia. The damages ended up being $4,200 including a new fascia at $1,800. There was absolutely no hassle. We had $100 deductible coverage.

We are strongly Grundy.

[TBird1stLuv]

Vintage Merlot Thanks for posting. This information was helpful. Glad you got your TBird fixed

[wcoates]

https://www.hagerty.com/Insurance/Cl..._Monday_July_8

[Frank Dreano]

I have my 63 Corvette split window AND the '02 TBird insured through the National Corvette Museum - agreed upon value of $18,000 with full coverage. Because I have multiple cars with them my premium on the TBird is less than $100/year with 6,000 miles per year "pleasure driving" mileage restriction. The car must be garaged and you must have another car that is your daily driver...

I won't even tell you what GEICO wanted and that was not "agreed upon" value...

And NCM pays with no hassle - I had a $65,000 claim with them in 2016...paid in full...
They have no problem insuring a limited production vehicle...