Recently got my renewal through and I'm in the same boat. Policy gone up from £350 to £640! Bye bye Hagerty.
HAGERTY INSURANCE - exile list - UPDATE
- Thread starter Steve Brookes
- Start date
My renewal came up before all this happened. Yes, my premium went up but not as much as many people suggesting. Level of cover remained the same, switched the mileages around between the cars as to what I thought would be more appropriate for my usage in 2010 and came in with a premium figure I was happy with. At the end of the day, in my case, and in many others here on the forum, beyond the use at track days when clearly there is greater exposure especially where you have a multiple insured clash scenario, insurance of these cars and similar should be money for old rope for the insurance companies - low annual mileage, well cared for and maintained cars that are owned by people that are not in to making the attritional claim just the big one when it happens. Sounds like either the rating matrix that Allianz supplied Hagerty with was either wrong in the first place or it was purely designed to get volume on the books in the first few years and then see what would stick come year 3, 4 or whatever it is. Either way, it will be interesting to see what figure / cover I am quoted at renewal in April 2011.
ORIGINAL: jason I think they have made some big losses and underwriter has pretty much pulled the plug on them. To be fair they're cover was stupidly cheap and stupidly comprehensive compared to the competition in last 3 years. Could never last. Was fun while it did though
Richard Dawson
New member
Removing 4236 splinters every year is more fun than insurance renewal! I must admit after 23 years of insurance covering stupid big engined cars when you and living in cities to boring stuff to old execubarges the premiums never cease to amaze! Nor do the premiums other folks get. We all know some chap with a fast car and peanuts insurance. Every year the insurer who covers you decides that adding 75% to your premium and saying it is the most competitive quote will keep your business (best ever Devitt bike insurace for a BMW k1200RS £170 yr1, no accidents , claims or convictions in that year....renewal north of £600. Renowned bike terrors us middle aged professional BMW bikers...) You then ring round get the usual issues of having to spend 30 minutes on the phone giving the same details then when you reach roll cage they say no (unless of course it was factory fitted but lets not go over that boring difference between a 996 GT3 with a factory cage or the same on installed after it left the factory being a bigger risk) Now I am a not an insurance broker/insurer/actuary/underwriter but from the outside piss up in a brewery comes to mind . I am sure some smart member of that fraternity will explain to me why I am a fool and the fact these businesses are sucessful shows me I am wrong but I'll still say that of the services I deal with nothing else is as irritating. To proove it does not have to be like that especially when you are middle aged living in nice area with nice jobs and care about your cars, go to Switzerland where my friend assures me although not cheap there isn't the rigmarole or use Classicline. Darren now looks after all my cars, renewals are fine and life is stress free. If they can why can't the rest of the insurance industry? Someone tell me I'm wrong?
I'm with Manning as well, renewed last week for about the same premium as lastt year and no change to conditions i.e. any ATDO / FAEO trackdays included, 5K mile limit etc., still underwritten by Allianz. Seems odd given that I thought that Hagerty were reselling the same policy.
I confronted one of the Hagerty guys at the Silverstone Classic to enquire why premiums had gone up so much and he said that Allianz had put up the premiums on all post 1990 cars! When I said I don't do track days and my road mileage was minimal he said I should call as they should be able to get it lower. Don't see why I should have to work hard to get them to reduce the premium if others are prepared to offer lower prices anyway. Maybe if they weren't giving out so many of their bags they could keep our premiums down []
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I called both Manning and Classic line yesterday and they are both considerably cheaper than Hagerty. Manning were about £45 more but include trackday cover (although with a 10% of value excess). Quotes were for £50k agreed value, 3000m p/a and £500 xs, ££340 for Classic Line, £380 for Manning. One thing I seemed to keep coming up against was that at £50k quite a few companies demand a tracker be fitted, anyone else had this issue? What value have you got yours insured for?
Classicline appear to be happy with an agreed value of £55k and no tracker (as were Hagerty previously), however Manning did require one above £50k value. I think the real difference is that Manning put our cars onto a "modern" policy, whereas Classicline put them onto a "classic" policy. Thus. I suspect if you try some of the other "classic" insurers you should be able to avoid the need for a tracker. Jamie
Hi Jamie, went back to Classic Line and asked for agreed value of £60k and the policy was £390 without a tracker for 3000miles a year. Pretty happy with that! Still can't get my head round the cars being worth that much but must now talk nicely to Mr Melvyn to get a valuation...[]
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