How much insurance?

[crankbait09]

I have a 63 ragtop, that I have had since 2018. I have had insurance on it since day one. When wanting to obtain insurance I was told the amount they'd offer was $ dollars. Not sure how they appraise the vehicles cost to replace when there is nothing to go by. (as far as i know). When I first obtained the insurance, I requested 15k, which they agreed to. After seeing the bug prices increase, I requested another jump up to 20k. They did agree to that but would not go any higher. So $20k (full) coverage is where I currently reside.

I have considered looking into hagerty insurance to get a quote. But I am not really sure how much I should be covered for. I have been looking in the classifieds for 63 ragtops, and I see them in the $20k range. But they all differ from appearance and there is nothing I can see that is close. Mine is not all original paint, and has been customized, like many others.

When you look for insurance, how do you determine how much you need since the bug prices fluctuate? With my insurance coming up for renewal in March, I'd like to determine if I should stay or go elsewhere. but value is my question right now. I guess once I determine that, that'll tell me if I need to shop around.

it looks like hagerty does not limit you. you pay for what you want. not what they THINK you should get
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1963 Ragtop

[Tom snowden]

Should run about $10.00 per thousand, that’s what I pay with Hagerty on my bus. $430.00 for $45,000 guaranteed per year. No driving restrictions.

[crankbait09]

The online quote I got from Hagerty for 30k was about $275 a year
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1963 Ragtop

[oprn]

My toy cars are just that, toy cars. I only put the minimum public liability insurance on them, no collision coverage at all. The way I see it is if the loss of one of my toy cars puts me in financial ruin then I was way over my head owning it in the first place!

So... I only buy toy cars that I can afford to lose. And I save big time on insurance costs.
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We had the stone age, the bronze age, the industrial age and now we are in the age of mass deception and mind control for corporate profit. (The mass media age)

[vwracerdave]

Car insurance is mostly a scam. You're betting your gonna crash it and they are betting you won't.

My '69 I've had for 30 years. I've paid more for insurance premiums than the car is worth today, yet I still have to pay every year, because the law say I have to have it. After I have paid the value of my car I feel I shouldn't have to pay any more.

Buit that is not what insurance is for.


When you buy auto insurance it doesn't make a damn bit of difference what your car is worth. You are buying insurance to fix or replace the other persons car when the accident is your fault. If you wipe out a Vette that could be $150,000 YOUR insurance must pay. If 4 people in the other car are injured that could very quickly be $250,000 or more in medical expenses. When there are passengers in my car I'm responsible for their medical care if I'm at fault.

If you're that stuck on the value of your car then you can't afford to own it anyhow. None of my cars would effect me financially if I lost them without any compensation to replace them. If there wasn't any legal liability to compensate the persons or car that I fucked up, then I wouldn't have insurance at all.
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2017 Street Comp Champion - Thunder Valley Raceway Park - Noble, OK
2010 Sportsman ET Champion - Mid-America Dragway - Arkansas City, KS
1997 Sportsman ET Champion - Thunder Valley Raceway Park - Noble ,OK

[SLO-N-LO-69]

My fun bug is at $5k because if it goes I can rebuild another easy enough. My other classic is for considerably more because of it's value to me. I would want to rebuild that car regardless of cost because its a family heirloom. The same will go for my current 62 Beetle build. Once it is complete I will insure it for more than normal so I can rebuild it since it was my Great grandmothers car. All are through Hagerty.

[VeeDubn]

Has Hagerty changed since going public? I was told we put too many miles on our Westy (we actually travel in it) per year, thus Hagerty would not cover it. Perhaps I should look into Hagerty again . . .

[skills@eurocarsplus]

insurance should be based on the replacement cost of whatever you're insuring.

Hagarty sent me something last year saying that the collection had gone up another 2k (across 4 cars) and if i wanted the added coverage it was like another 5 bux

so they do kind of keep a pulse on the market
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[oprn]

Haggerty said that due to the fact that I have had 2 traffic tickets in the last 3 years I was a high risk and they would not insure my cars.
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We had the stone age, the bronze age, the industrial age and now we are in the age of mass deception and mind control for corporate profit. (The mass media age)

[SLO-N-LO-69]

[EverettB]

[VeeDubn]

[madmike]

Hag said no, cuz I sleep in the Bus WTF it's a camper
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'Black Ice'Drag Buggy 'Turbo'
Rail Buggy 1915 turbo
76 Drag/Street bug 2180cc 'Turbo' 11:85 @113 mph"If I go any faster I'll burn up the Hamster" ,gets 28 mpg. also 10/09/22 11.90 @115 mph
"If I'm ever on Life Support,UNPLUG Me, Then Plug me back In see if that Works"

[SLO-N-LO-69]

[iowegian]

I have been with Hagerty for over 20 years and they have never asked me for photos or proof of storage location.
A few years ago I inquired about allowable mileage and the agent said something like "we expect you to drive your collector car for pleasure like going for ice cream." (not as a daily driver)
So now I feel that having ice cream is mandatory to meet the policy requirements.

[Abscate]

Insurance companies never confirm you are following the terms of the contract, until you have a claim.

They love it when you don’t, because you become a marginally profitable “hold your money “ customer to a highly profitable customer.
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.ssS!

[EverettB]

[iowegian]

In digging around on Hagerty's website I see they have an interesting option---
"Cherished Salvage". For a modest increase in premium you get to keep the car (or what's left of it) and they will still pay out the Agreed Value in the event of a total loss.

[Zundfolge1432]

[dennismcd707]