Topic: Collector's Insurance

[Dimitri13]

Has anyone obtained collector's insurance on their SOHC4? Hagerty, Grundy, etc. If so, care to share any details about what your claimed investment (parts/restoration/labor/etc) and yearly mileage is? Along with possibly your driving history?

I ask because I was denied by Hagerty for several reasons:

Risk unacceptable for program (don't know what that means)
Excessive use (5000 mi/yr)
Unacceptable driving record (one ticket and one accident in early 2010)
Excessive vehicle modifications ($3000 in performance parts/labor, bodywork, etc)

Gonna call up their office and see what's up, and if I can change something in my policy so they'll accept me. Maybe my bike isn't really that important to them? It's a 74 550 not stock..

[Tews19]

Do you need Hagerty? I go through State Farm and I got total replacement value. I gave a value of 8-10k for my LOW MILE K1. May not be realistic but they informed me to take lots of pics. Once I get the tank and side covers reapainted those pics will be sent in. State Farm didn't even ask me to verify how I got the value. My agent told me to find parts and get prices. Ebay can be used as a source. I have full coverage on my bike and its 18 bucks a month. 1.42 for the months it's not on the road..

[Dimitri13]

Hm.. Thanks Tews, I'll look into State Farm. I don't necessarily need Hagerty, I just need insurance that will give me an agreed value and that actually cares about old vehicles. I just really need to get rid of Geico, they're killing me with nearly $900/yr.

[RSchaefer]

If you are a member of VJMC you receive a discount at Condon Kelly (www.CondonKelly.com.

The guys in the group are really high on their pricing and customer service.  I think I'm hearing like $150 a year, but not sure about the # of miles per year, amount of money invested, etc.

Here in AZ if you have "Vintage" insurance on your bike you do not have to go through emissions.

[MCRider]

Do you need Hagerty? I go through State Farm and I got total replacement value. I gave a value of 8-10k for my LOW MILE K1. May not be realistic but they informed me to take lots of pics. Once I get the tank and side covers reapainted those pics will be sent in. State Farm didn't even ask me to verify how I got the value. My agent told me to find parts and get prices. Ebay can be used as a source. I have full coverage on my bike and its 18 bucks a month. 1.42 for the months it's not on the road..

I'm with SF also. But they wouldn't do "stated value" on my CB750 modified. They said they do it for cars. But for bikes they only use NADA value, which is surprisingly high. For my K2 I'm insured for $4000, no questions asked. But I really need about $18,000. Funny thing was they asked me to bring in a price list of the mods. So I did. Then they told me Ooops only for cars, not bikes. May be a state to state issue.

So I'm shopping for "stated value". Gonna try CondonKelly.com

[Old Scrambler]

I use Progressive and it costs me about $140 / year for my base bike; CB750K3 in stock form. Damage or theft loss is based on NADA or other proven price guides. Each additional bike is about $15. They have a stated value option at higher rates.

Hagerty is more for show-vehicles that are seldom driven.

[MCRider]

Just got an online quote for $20,000 from Progressive at $489 per yr. Had a total claim 3 months ago go against me.

[KRONUS0100]

im with progressive with a 2500 stated value policy running me about 130 a year.  they didnt ask for pics or how i came up with the value, but i was allready a customer of thiers beforehand.

[bjatwood]

Saved over 400.00 a year switching from SF to Geiko this year. Same coverage

[MCRider]

Just got a verbal quote from American Collectors Insurance: $20k stated value; 2500 miles per yr, locked garage, $191 per yr.? Pretty good!

I think quotes from same companies like Progressive or SF can vary a lot state to state.

[Dimitri13]

Gonna go down to the SF office down the road today. Hopefully I don't need an appointment.

[matt mattison]

I have Hagerty, added my bike on to the existing policy for like $40 year. No questions asked. I used them for years when insuring my classic vehicles. Maybe since I was an existing customer, they don't scrutinize me as much. They won't insure anything worth less than $3000.

[tlbranth]

I have Hagerty insurance on my 750 at a stated value of $12,000. I was never asked about #miles driven. I had to provide pictures. I have no accidents or tickets on my record. My other bikes are through Progressive.
Here's a strange thing: I went online years ago and got insurance for my 99 Goldwing from Progressive. Later, I bought a Rebel for my wife to learn on. At the time, I was looking into getting my homeowner's insurance at a better cost through an independent agent. He couldn't beat my AARP deal but got me Progressive coverage on both bikes for less than I was paying for the GW alone. We've since added a VT750 and the total is about what I was paying for just the Goldwing. Same coverage. It pays to recheck sometimes.

[mono]

Do you need Hagerty? I go through State Farm and I got total replacement value. I gave a value of 8-10k for my LOW MILE K1. May not be realistic but they informed me to take lots of pics. Once I get the tank and side covers reapainted those pics will be sent in. State Farm didn't even ask me to verify how I got the value. My agent told me to find parts and get prices. Ebay can be used as a source. I have full coverage on my bike and its 18 bucks a month. 1.42 for the months it's not on the road..

+1 to State Farm.  my agent said the same thing.   

she asked "how much is it worth?"
and i said "well, right now... about $2000, but it doesn't blue-book that high.."
her: "doesn't matter.  we'll insure what you claim it to be worth."

[greenjeans]

Progressive.   I get it through USAA.   We have an agreed upon value of 10k  (more than it's worth, but a pain to replace)

Under $200 for a year.