Insurance question
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Tuned
Joined: Oct 2014
Posts: 306
Likes: 6
Insurance question
I have my wife and I on my Hagerty policy for my ‘79 and ‘85 Supercabs.
My son is 17 and I was fixing up the ‘79 for him to drive to school/work.
Does anyone here have their kids on their Hagerty policies?
My regular cars are on Geico, but Geico charges a heck of a lot more on these older cars than I’d like to pay.
If it wasn’t for Hagerty, I wouldn’t be able to afford to insure my older cars that don’t get driven much. But at the same time, I kinda feel like Hagerty isn’t meant for cars the drive daily. Maybe it’s just me.
My son is 17 and I was fixing up the ‘79 for him to drive to school/work.
Does anyone here have their kids on their Hagerty policies?
My regular cars are on Geico, but Geico charges a heck of a lot more on these older cars than I’d like to pay.
If it wasn’t for Hagerty, I wouldn’t be able to afford to insure my older cars that don’t get driven much. But at the same time, I kinda feel like Hagerty isn’t meant for cars the drive daily. Maybe it’s just me.
Lead Driver
Joined: Oct 2018
Posts: 7,894
Likes: 2,372
Hagerty and similar insurance companies aren't really for general use they have a lot of rules and mileage limits. their rates are low because their risk is low.
I can't imagine they'd cover a kid with a daily driver just because it was an older rig but I can't say I've never tried .
I can't imagine they'd cover a kid with a daily driver just because it was an older rig but I can't say I've never tried .
More Turbo
Joined: Jun 2015
Posts: 591
Likes: 113
From: New Hampshire
Most classic car insurance companies will require a youthful driver( <25 years old) exclusion; meaning no coverage for youthful drivers.
That's why their premiums are so low, they cut out the risky stuff and young drivers are a huge risk; no disrespect intended to anyone's kids driving skills-----but its the facts. Youthful drivers cause/are involved with more accidents/Insurance co payouts than older drivers.
Anyways you should shop around as there are $$ differences:
As an example my Hagerty policy on my 1975 F250 Highboy(agreed to value of $29K) was $292/year
Just got same exact coverage thru Grundy for $182
Just me driving, no youthful drivers and I'm 60 years young.
Tbruz
That's why their premiums are so low, they cut out the risky stuff and young drivers are a huge risk; no disrespect intended to anyone's kids driving skills-----but its the facts. Youthful drivers cause/are involved with more accidents/Insurance co payouts than older drivers.
Anyways you should shop around as there are $$ differences:
As an example my Hagerty policy on my 1975 F250 Highboy(agreed to value of $29K) was $292/year
Just got same exact coverage thru Grundy for $182
Just me driving, no youthful drivers and I'm 60 years young.
Tbruz
Fleet Mechanic
Joined: Sep 2014
Posts: 1,627
Likes: 79
From: NE Texas
I was pleasantly surprised that Hagerty seems to have dropped their mileage limitations; when I insured my LBC basically they said 'no limit'. Too, being a decades-old Brit car, they probably figure it won't run long enough to rack up substantial mileage.
Senior User
Joined: Sep 2018
Posts: 128
Likes: 1
Insurance Novice here. Can I ask, what is the difference with going with a Haggerty, etc versus a regular insurer? I have all my vehicles, including my 74 F100 on our main auto policy. I think my share for the F100 is about $250-$300 a year.
Lead Driver
Joined: Oct 2018
Posts: 7,894
Likes: 2,372
The collector car companies are usually cheaper and have low or no deductibles. but restrictions apply. unlimited mileage is a new thing but for 99% of customers it won't matter.
If you don't drive them a lot, always keep them garaged and don't tow with them it will probably save you money. the other thing is agreed upon value, most regular insurance just goes off book value and there is a lot of room for debate on that. with agreed upon value it's settled before the loss occurs.
If you don't drive them a lot, always keep them garaged and don't tow with them it will probably save you money. the other thing is agreed upon value, most regular insurance just goes off book value and there is a lot of room for debate on that. with agreed upon value it's settled before the loss occurs.
Fleet Mechanic
Joined: Sep 2014
Posts: 1,627
Likes: 79
From: NE Texas
A lot or room for debate... meaning for a total loss they will use the lowest value they can find. I have had several total losses over the decades, and have NEVER had a company offer anything close even to trade-in value, much less fair market.
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Cargo Master
Joined: Jun 2014
Posts: 2,217
Likes: 325
From: Central Florida
I'm a little unclear as to what is being discussed here. Are we talking about the liability insurance that many states require or are we talking about the addition of indemnity for other hazards as well? As I understand it, liability covers damage you do to other people (their cars, bodies, etc.) if the accident is judged to be your fault. OTOH, if you are driving along and a flying rock cracks your windshield or some evil-doer steals your vehicle and wrecks it or your vehicle is pummeled by hail, that requires what is usually called comprehensive insurance.
So are we talking about comprehensive plus liability or just liability alone. The difference in cost and coverage is significant in most cases.
So are we talking about comprehensive plus liability or just liability alone. The difference in cost and coverage is significant in most cases.
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Lead Driver
Joined: Oct 2018
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Liability is all that's required in most if not all states unless there is a security holder then they'll require full coverage.
On collector cars liability is no different than your other vehicles, it's just cheaper since you're diving less miles. the comp and collision are low or zero deductible and much cheaper because of miles driven and they assume you're more careful with a classic.
Some of it depends on your age, driving record and area you live. for instance my '76 high boy is insured for 40k agreed upon value with a $500 deducible and a 4,000 mile per year limit I'll never come close to . I live in a rural area and it's always under cover and secure. my premium for this year is $196 . I do have 4 other classics and I'm a long time customer so maybe that helps I'm not sure.
On collector cars liability is no different than your other vehicles, it's just cheaper since you're diving less miles. the comp and collision are low or zero deductible and much cheaper because of miles driven and they assume you're more careful with a classic.
Some of it depends on your age, driving record and area you live. for instance my '76 high boy is insured for 40k agreed upon value with a $500 deducible and a 4,000 mile per year limit I'll never come close to . I live in a rural area and it's always under cover and secure. my premium for this year is $196 . I do have 4 other classics and I'm a long time customer so maybe that helps I'm not sure.
More Turbo
Joined: Feb 2021
Posts: 525
Likes: 84
My 75 F100 is definitely not a show truck and is parked outside. At the moment I have it insured through Farmers as part of a multi-car policy with 100/300/150 coverage + comprehensive (no collision) for about $500 a year - I live in the CA Bay Area so we have higher premiums than the rest of the country (because the majority of our drivers suck 
).
Funny thing is that I pay $50 less a year on my 95 Miata that has collision AND is garaged... :\
). Funny thing is that I pay $50 less a year on my 95 Miata that has collision AND is garaged... :\
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johnreev44
1973 - 1979 F-100 & Larger F-Series Trucks
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Jun 14, 2017 09:34 AM