Insurance

[jf]

Kindred spirits:

In the five years I've owned my '69 Elan the cost of my insurance coverage has doubled to a tad over $400. That seems to me to be a bit steep for a car that gets, at the most, about 1500 miles on it per year and sits in the garage, under cover, for six months every winter.

I've got a policy with Heacock. I checked with Haggarty and their policy costs about $5 less but for far inferior coverage.

Does that price tag seem about right for a 55-year-old car that is seldom out of the stable? Maybe I'm just behind the times. Or maybe I need to look somewhere else.

I'd appreciate any knowledgeable comments.

-- boone

Once the game is over, the King and the pawn go back in the same box.

  - Italian Proverb

[Gerald Rude]

Jerry, 

I too have a Heacock policy through American Modern but it is about $475/year for three cars (Healey 3000, TCS, TR4), so yours does seem high.  I think mine is <5k/yr miles on each, and has to be in a locked garage.  Perhaps the mileage is the issue? 

Jerry Rude

4005R

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On Apr 22, 2025, at 5:19 PM, 'jf' via Club Lotus Northwest <club-lotus...@googlegroups.com> wrote:



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[Gerald Rude]

Oops, thought you said 15k miles, but on reread it was 1500, what value did u place on it? The other specifics?  Mine are $45/15/10k respectively.  

Jerry

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On Apr 22, 2025, at 6:23 PM, Gerald Rude <Lotu...@charter.net> wrote:

Jerry, 

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[jf]

Jerry:

Mine is also via America Modern, but Heacock sent me a note saying that policy won't be renewed and it would be with another company. My 1500 a year is well within the less-than 5000 in your policy. I'm going to call them and discuss coverage and costs. 

-- boone

https://groups.google.com/d/msgid/club-lotus-northwest/C7E0C79F-0AF9-4173-9569-5B61569AF772%40charter.net

.

[jf]

The value is $30,000, which is on the low side of the mid-range they are selling for. Mine is nice, but it's not a concours car and it isn't entirely original. 

Once the game is over, the King and the pawn go back in the same box.

  - Italian Proverb

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[ja...@mcvein.net]

Yes, I can say that insurance premiums have been going up on a hockey-stick
curve for all my cars, doesn't matter who writes the policy. In particular
there were a lot of losses in LA recently, lots of claims paid out. Floods
in NC, FL all added up to increased claims. We all pay for it. Hagerty and the
others are an agreed value policy, lower the value - lower the premium.

JimMc

  - Italian Proverb

  - Italian Proverb

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[stot...@gmail.com]

My Europa is full coverage with State farm, agreed value $20k, assuming under 5000 miles a year, antique car policy requiring a locked garage for under $200 a year. They told me they are somehow in bed with Haggerty. I have various discounts.

[jf]

Dennis:

Thanks. I can't seem to come close to that. But I haven't given up the hunt.

-- boone

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[David Hansen]

From my experience with Haggerty and their collector car policies is that if you have a few in the stable that after the first few additional ones cost less and less.

I picked up a Westfield 7 this fall and the additional I paid with a stated value of $20,000 was an extra $180 for the year.

I think they reasonably take into account that you can only drive one car at a time and the prices seem rational given that fact.

Dave

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mcoupe00 - David Hansen - Personal Mail

[Douglas Jackson]

Hello members of Club Lotus Northwest:

Just a little FYI...

I have three cars: a 1976 Lotus Elite; a 1984 Corvette, and; a 1998 Jaguar XK8 coupe all of which are insured with Heacock/American Family Home Insurance Company.

All of these cars have: $50,000/$100,000 Bodily Injury/Property Damage, $0 Deductible; Personal Injury $0 Deductible; $50,000/$100,000, $0 Deductible; Uninsured/Underinsured Motorist, $0 Deductible, and; Spare Parts $500 coverage. The all also have: Collision, $0 Deductible; Comprehensive, $0 Deductible, and; Liability Coverage.

I drive none of these cars very much during the year (my wife and I have other vehicles that we consider our "Daily Drivers"), and none of them are particularly valuable, so the total cost of insuring all three of them only comes to a little over $460. 

Just sharing a little information.

Doug Jackson (in Seattle)

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From: 'jf' via Club Lotus Northwest <club-lotus...@googlegroups.com>
Sent: Thursday, April 24, 2025 10:23 AM
To: club-lotus...@googlegroups.com <club-lotus...@googlegroups.com>
Subject: Re: [members] Re: Insurance

 

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