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Since the Z is down for a motor/turbo upgrades and I just got a new(er) daily driver, I was finally able to get declared value insurance taken care of. For those unaware, this is a policy where we agree on a set value for the car and if it's totaled or stolen, they cut me a check for the full amount. Before I go any further, big thanks to various TT.net members (including awesome-o, Piranha and BigTDogg) for insight and ideas when it came to policies like this. For me it was always between Grundy and Hagerty when it came to agreed/declared value insurance but I found Hagerty to be flexible and easier to work with. Grundy seemed to be a bit more picky and didn't seem like they wanted to insure an "import sports car". With Hagerty I filled out the online quote, received a call back the same day and the process was very easy. They answered all of my questions and really appeared to be "car guys", interested in my ride and happy to help. No condescension about it being a newer import or anything of the sort. I was also able to submit all photos, liability declarations and other paperwork via the internet which was great. When it came to a figure, I chose a $40,000 policy which I felt would cover everything I'd need to replace it (car + parts + labor). Once the motor work is done I may bump it up to $50k, which they said would be no problem. As for cost, it came out to $900/year for comp/collision on a 50k/100k liability (25/50k uninsured motorist). They require that your liabilities match your daily driver car, which is why mine is a bit low. I plan to bump both up to 100k/300k soon. Also, while my Z is down for repairs and is unregistered, they allowed me the Comp-only plan (no collision/uninsured) for $450/year. Once the Z is back on the road, they bump me back up to the $900/year. All in all, a great experience and a HUGE load off my mind not having to worry about my soon-to-be-classic car. If anyone has any questions about the process or the details, feel free to ask.
"Find out just what any people will quietly submit to and you have the exact measure
of the injustice and wrong which will be imposed on them." - Frederick Douglas |
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