Restored rigs - Insurance recommends?

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Nov 29, 2020
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Wausau WI
Inching my way to roadworthy, which means it'll need insurance soon. What have those of you with restored rigs run into there?

Do the typical "big hitters" work, or did you need to shift to alternatives? Any tips on valuation/appraisal?
 
Joined
May 28, 2015
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New York
I've got mine insured with Haggerty. I've never had to make a claim (knocks keyboard) so can't give an opinion on that front but otherwise they've been fine. Prices were very competitive (agreed value policy).
 
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New York
Kind of related how do you or them decide on the agreed value price?

Or is it the higher the value price the more you pay type of thing
That's exactly right. The more you ask for the higher the premium. I would imagine there is also a cap on what they will agree to. If you try to insure a Chevy S-10 for 100k they will I'm sure decline.
 
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Jun 7, 2016
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Connecticut
I have Hagerty. They made me sign something saying my wife (then girlfriend) would not drive it since she had two distracted driving tickets, not that she could drive 3 on the tree anyway. Also dont know if they cover damage while wheeling or even camping. Depends on what your use would be
 
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I have Hagerty. They made me sign something saying my wife (then girlfriend) would not drive it since she had two distracted driving tickets, not that she could drive 3 on the tree anyway. Also dont know if they cover damage while wheeling or even camping. Depends on what your use would be
Boy, if I were to add up all the receipts for various parts, I hate to think what the replacement value would be. I think that I would rather live in a state of denial.
 
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Wausau WI
It'll be living a pampered life now after getting a full nut-n-bolt restoration to factory, so shouldn't be any issues there. It earned its licks over the past 45 years as a daily driver and go-everywhere machine...so it earned it. :D

I'll give Hagerty a look-see.
 

Krondor

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I went with Grundy and have a $25,000 agreed upon valuation for roughly $360 a year. I may bump that up once it is fully drivable. But I wanted it protected while I was in the build phase. With Grundy, there are no mileage limitations but it must not be your daily driver and it must be garaged while not in use.
 

77mustard40

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So are these policies with Haggerty / Grundy just for vehicle damage & replacement value? Or does it include liability as well? I'd like to keep my liability where I have it since I wrap everything up with a personal umbrella policy.
 

Krondor

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My insurance with grundy covers liability, uninsured motorists, towing, and trip interruption. I have comprehensive and collision coverage. It may depend on your state if you can separate out liability.
 
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Apr 21, 2005
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My Haggerty requires another DD and garage. Also have a number of other project vehicles I have coverage on. My main concern is forest fires which they say they will help move them out in that case. But also depends on how much time they have. Fires can move fast.

Had to sign something telling my regular insurance company my wife and myself are the only drivers. Have four vehicles insured with them. They have a program where they will come in the event of a fire and try and reduce the possibility our home and garage will. Always tell them let the home burn and save the garage.
 
Joined
Jun 10, 2015
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Idaho
I have American Collectors Insurance with a $40k stated value. Had to provide detailed pictures. It must spend the night in a locked and alarmed garage. Other restrictions include not being able to drive it to work, take it off-road, tow a trailer, and no more than 5,000 miles per year. Also only named drivers allowed to drive it. $450 yearly premium and no deductible.

Logging roads are roads… Right?;)
 
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Idaho does any other place matter
Other restrictions include not being able to drive it to work, take it off-road, tow a trailer, and no more than 5,000 miles per year.

Logging roads are roads… Right?;)
I have a quote with Hagerty and need to go through it. The quote above is my concern with any of these policies. I do go offroad (and I except my screw ups there) and that’s what I built it for. I need to pull the trigger soon.
 

JDNs78FJ40

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Draper Utah
I looked at Hagerty and the other company mentioned above and actually got the best deal with State Farm. 6 month premium is just under $200. Stated value is $60,000.
 
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I have a quote with Hagerty and need to go through it. The quote above is my concern with any of these policies. I do go offroad (and I except my screw ups there) and that’s what I built it for. I need to pull the trigger soon.
They were very clear about being off road. You’re on your own and it will not be covered.
 

SlapSmak

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May 16, 2010
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I have Hagerty for all my collector/project vehicles. My primary is my '17 Shelby which runs 700 a year, stated value of 55K, the 40s are on the policy, stated value of 40K each. They each run 104$ each a year, 100$ deductible, full coverage. My Type R is also on it, 50k value, 500$ a year. When I added the 40s, I started laughing when they told me 104$ a year. The best part is the coverage for the R and the 350 are good for Track Days, fully covered.

My daily is my 100, which is on a progressive Com policy which is work and personal. That policy is more that all the others combined.

If you have a Daily Driver on another policy, Hagerty is the only way to go.
 
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Stanwood, WA
With hagerty, ask for “cherished vehicle” coverage. It doesn’t add much and if it’s totaled, you automatically get it back; don’t have to buy it back from insurance. I have this on my chevelle and my 40. I have no mileage restrictions on either but as said, you have to have a different insured vehicle as your “daily”. I have $0 deductibles, cherished value and my 40 is listed at $50k agreed value; $254 a year. I didn’t even need an appraisal at that value.
 
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the 40s are on the policy, stated value of 40K each. They each run 104$ each a year, 100$ deductible, full coverage

When did Hagerty suddenly get so cheap? I call them every couple years and last year, they were 2x what Grundy charges me. Now they appear to be 1/2 as much. I will call and see.
 

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