The Circuit Rider and Hagerty Follow Up.

[70cst]

Some have been asking how Hagerty has performed so - here is what I know so far:

For example - if my truck was covered for $10,000 - and if my truck was destroyed then - Hagerty would pay out $10,000.

I have zero detectable for repair in this situation.

Truck cover - they will pay up to $250.

Free towing to the body shop of my choice.

They will try and repair damaged vehicles up to 70% of the insured. If my truck was covered for $10,000 - then they would pay up to $7000 to get the truck fully repaired -if the repair cost exceeded $7000 then it would be considered totaled and they would write a check for $10,000

Again - my truck is insured for way more than $10,000 but this was a reference point.

That's the latest info.

[doo142]

Thanks for info, I'm changing to Grundy now but I'm all ears to learn how others do

[68 CRACKERBOX]

thats not how it really works,just because it is insured for 10,000 doesn't mean they will pay 10,000. a few years ago a friend had a 80 kenworth insured for 15,000 ,before they would do it they had it appraised and took pictures of it.then it was stolen and recover it, they totaled it because it was stripped, they would only pay 8000. on it said that was what other trucks that age were worth. at the time I had a 67 Peterbilt show truck John Deere ins, sponsered my ins.,I ask the rep. that did our ins about this case,he said it was not uncommon to overly insure a truck and only pay what common trucks like it is worth.it's not right but thats just how it works he said.ins. company are in bussiness to make money.

[70cst]

Originally Posted by 68 CRACKERBOX

thats not how it really works,just because it is insured for 10,000 doesn't mean they will pay 10,000. a few years ago a friend had a 80 kenworth insured for 15,000 ,before they would do it they had it appraised and took pictures of it.then it was stolen and recover it, they totaled it because it was stripped, they would only pay 8000. on it said that was what other trucks that age were worth. at the time I had a 67 Peterbilt show truck John Deere ins, sponsered my ins.,I ask the rep. that did our ins about this case,he said it was not uncommon to overly insure a truck and only pay what common trucks like it is worth.it's not right but thats just how it works he said.ins. company are in bussiness to make money.

With Hagerty Insurance -- Yes it does ...

I have a stated value insured on this truck.
I was told by Hagerty this morning -- that if my truck would have been totaled ... they would indeed pay the stated insured amount.

[BugzC10]

Originally Posted by 70cst

With Hagerty Insurance -- Yes it does ...

I have a stated value insured on this truck.
I was told by Hagerty this morning -- that if my truck would have been totaled ... they would indeed pay the stated insured amount.

X2...I also have Hagerty.

[YBNORML]

Originally Posted by 68 CRACKERBOX

thats not how it really works,just because it is insured for 10,000 doesn't mean they will pay 10,000. a few years ago a friend had a 80 kenworth insured for 15,000 ,before they would do it they had it appraised and took pictures of it.then it was stolen and recover it, they totaled it because it was stripped, they would only pay 8000. on it said that was what other trucks that age were worth. at the time I had a 67 Peterbilt show truck John Deere ins, sponsered my ins.,I ask the rep. that did our ins about this case,he said it was not uncommon to overly insure a truck and only pay what common trucks like it is worth.it's not right but thats just how it works he said.ins. company are in bussiness to make money.

Then he did not have an agreed value policy. An appraisal means nothing to regular policy. I have a had two claims under my agreed policy insurance and both times I was paid the exact amount of the appraisal. The policy rate was based on the appraisal and so was the payout.

[BB72CHEVKT]

So sorry to hear about your truck.

[davepl]

Cracker, who's They? Are you talking about Haggerty? Doesn't sound like them.

[kcsa75]

Dewayne, have you got the truck out of the barn yet?

[70cst]

Originally Posted by kcsa75

Dewayne, have you got the truck out of the barn yet?

Not yet ...

[special-K]

Originally Posted by kcsa75

Dewayne, have you got the truck out of the barn yet?

Or is it get the barn off the truck?


Hagerty allows pleasure driving.

[70cst]

Originally Posted by special-K

Or is it get the barn off the truck?


Hagerty allows pleasure driving.

special-K ...

The truck is more trapped than pinned. The Hagerty adjuster is calling tomorrow. They need to get a mini crane or a couple lifts to pick up the barn so the truck can be pulled out. The barn needs to be lifted about six inches.

[Already Gone]

With "agreed value" that decision is made up front. I've never had a total loss on an agreed value one, but did with a stated value policy back in the 80s (in socialist Sasktchewan Government Insurance land) and it was painful.

I have lived in Saskatchewan for 40 + years and have no issues with SGI. In 1985 I bought a 1970 Dodge Charger R/T which I restored and finished in 1991When the car was done I wanted it insured so went to my broker and he told me about the Stated Value Insurance policys. My one and only question to him was, if I get a pro appraisal done and they say my car is worth 25K ( that is abouit what is was worth then ) if the car gets written off do I get a check for 25k without question. The answer was no so I asked what am i paying for then and he shrugged. I ran the car with regular insurance for the 2 years I kept it and was lucky I had no damage. Last year when I bought my latest 72 I had apro appraisal done and the appraiser took a bunch of pics and researched the pricing on our trucks and sent that info to SGI and they approved a Stated Value Policy at the appraised value for my truck. Dave I do not what happened in the 80's if Stated Value with SGI was avaialbale but it works now if you do it right. So now if my truck gets wrote off I get a check for the appraied value with no hassles.

[davepl]

Originally Posted by Already Gone

I have lived in Saskatchewan for 40 + years and have no issues with SGI.

I used to believe you really lived there, but now I know it's an elaborate fantasy. Next you'll be getting in to see your doctor promptly!

I had nothing -but- grief with SGI (I think it was SGIO in the day). We had a "stated value" policy on my 2+2 which was totalled and they offered $2K on a $10K stated value, which is why (again) you don't want stated value.

After arguing for months I got the 8K needed to repair it, but what were the higher premium for then if not this very case? It made no sense.

Granted it got better when they opened claims centers in the south and east, but I've been gone 25 years or more (so I'm not talking about today's SGI either, I guess, to be fair).

[57taskforce]

I sure hope you can save it, 557 trucks like ours are an uncommon breed!

[davepl]

Or it could have been "stated value" where the owner states a value, pays the premiums based on it, and only when a loss happens does the insurance company proffer an opinion as to what THEY are willing to value it at.

With "agreed value" that decision is made up front. I've never had a total loss on an agreed value one, but did with a stated value policy back in the 80s (in socialist Sasktchewan Government Insurance land) and it was painful.

Like I said I've never had a total loss, but Hagery was always easy and painless on the couple of claims (wheel falling off, etc) that I did have. And they sourced NOS parts including a fender for me!

[70cst]

As stated - the Circuit Rider is insured for a agreed/stated value with Hagerty.

[YBNORML]

That's what I mean. Without an agreed value policy an appraisal isn't worth the paper it's written on. I made sure I got an agreed value policy specifically because I know how insurance companies work. Cheap, cheap, cheap.

Sorry, didn't mean to hijack your thread 70cst. I really hope things work out for you.

[70cst]

Originally Posted by YBNORML

That's what I mean. Without an agreed value policy an appraisal isn't worth the paper it's written on. I made sure I got an agreed value policy specifically because I know how insurance companies work. Cheap, cheap, cheap.

Sorry, didn't mean to hijack your thread 70cst. I really hope things work out for you.

All is cool ... this thread is to be a learning tool for all of us. When insuring our trucks ... we need to be sure we fully understand what our trucks are really insured for. I did a lot of research before I selected Hagerty and was very specific as to what my truck would be insured for and what my payment would be if something would happen.

Its better to learn up front than after the fact ... Goof replies

[daveklein]

I thought Hagerty had a bunch of restrictions....Like not being covered if you take your truck to Lowes??...Mine is more of a driver than a show truck so I went with my regular ins. Dave

[70cst]

Originally Posted by daveklein

I thought Hagerty had a bunch of restrictions....Like not being covered if you take your truck to Lowes??...Mine is more of a driver than a show truck so I went with my regular ins. Dave

Dave ... they do have some restrictions. If I took my truck to Lowes and picked up a few things - all is well. If I went to Lowes and picked up a load of bricks - Hagerty would not be very happy.

But - agreed that we all need to research insurance companies to see what they do and do not cover. Also if one would wreck their truck what is paid for. In this situation I have fill coverage ( no deductible) for repair up to 70% of the value of my truck which was agreed upon. I have free towing to the repair shop of my choice. They will replace my truck cover and so forth.

I need to keep my truck in a locked garage. I cannot use my truck for towing nor can a 16 year old drive my truck. I can take my truck out for a drive anytime I want. I plan on doing a lot more driving this coming year.

It all comes down to common sense- Hagerty said drive and enjoy it - that's why we have the trucks.

And now you know

[Lattimer]

Originally Posted by daveklein

I thought Hagerty had a bunch of restrictions....Like not being covered if you take your truck to Lowes??...Mine is more of a driver than a show truck so I went with my regular ins. Dave

Hagerty and Grundy are both like that. The truck is covered sitting in your garage or other locked storage. It is covered at a car show, and on the way to and from the car show. Otherwise----its pretty hit or miss on how they cover it. Depends on the individual policy as well.

If you were driving on a 4-lane interstate at 4:00 PM on Wednesday, you are likely to not be covered. Somebody smashes into you in Lowes or Home Depot parking lot, you probably won't be covered. If you are on a 2-lane country road in the middle of summer on Sunday, you will might be covered.

I went to American Modern (via Geico) and I have an agreed value policy with them. They seem to understand that many owners want to drive the vehicle, where Hagerty and Grundy seem to cater more towards "collector" vehicles that very rarely are driven.

You have to carefully read the full policy and understand all the fine print on whatever you buy.

[hugger6933]

Being that I own a body shop I have dealt with insurance companies before time or two. For the most part they try to be fair and the 70% that you stated of value is fairly close to industry norm on calling a total.What they really bow up at is someone telling them what they will do as soon as the adjuster arrives and doesn't even give them a chance to be fair. But if you think about it we all love that don't we? Another thing that sets the wrong tone is saying "I got a lawyer and he said blah blah blah" Once again there are some times that may be needed but I have found it is best to talk to them first without threats. Nobody likes that and it can set a bad tone for the whole deal.Like I said they "try" to be fair from the jump unless they feel backed into a corner before even the handshakes are made.

Then there are ones who like to be difficult. Jim

[davepl]

Originally Posted by Lattimer

If you were driving on a 4-lane interstate at 4:00 PM on Wednesday, you are likely to not be covered. Somebody smashes into you in Lowes or Home Depot parking lot, you probably won't be covered.

You have to carefully read the full policy and understand all the fine print on whatever you buy.

Always read the policy, agreed. But I'm not sure on the other stuff. Hagerty has been running magazine ads focusing on the their flexibility, showing people taking a road trip in an old Vista Cruiser wagon (or similar).

If you're on a 4-lane interstate at 4PM on Wednesday because you are and have been commuting to work, it's not a speciality vehicle anymore, it's a commuter. That's different.

I don't think they're nearly as restrictive as people think; then again, some people will take advantage of it, driving an old car as their daily vehicle and insuring it as a collector car.

[70LonghornCST]

Gee Dewayne,
Sorry to hear about your truck. I have Hagerty insurance on my Plymouth, so I'm very curious as to how they take care of their insured. Hopping all works out well in the end for you.
Richard