Thread: Insurance choice? Please help.
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05-24-2004 08:29 PM #4
I've got Hagerty, been pretty happy with them, their rates have been favorable every time I've checked. They even continued insuring my Cobra when other companies bailed on some of my Cobra acquaintances.
A couple things to consider. One, Hagerty doesn't have a deductible so you're not out of pocket if you make a claim. I have not had to thankfully.
Second, whoever you insure with make sure you get "Agreed Value" coverage. That way, if you pay for, say, $25,000 coverage and you have a total loss, you get $25k. The other type of coverage is most often known as "Stated Value". The two terms sound the same, but at pay out time they're very different. Even some agents, or their office help, don't know the difference and give bad advice. With "Stated Value" coverage, they will most likely depreciate the car's value. So if you pay for $25k coverage, the policy is two years old, for example, they will apply a depreciation schedule and you'll get , say, $20k. Your choice.Your Uncle Bob, Senior Geezer Curmudgeon
It's much easier to promise someone a "free" ride on the wagon than to urge them to pull it.
Luck occurs when preparation and opportunity converge.





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