I have had them for years. Never made a claim, so I don't know how they are with that, which is kind of the most important part. However I do get a nice magazine every month. 😄

 

Haha, I can now have one more shiny magazine next to the can! I asked my go-to body shop owner and was told that Hagerty is a stand up company. The funny thing is that Hagerty is less expensive than USAA and USAA doesn’t even offer agreed value.

 

They do have very competitive rates. Just be careful if it's a daily driver. They were ridiculously cheap when I got a quote for some of my dailies. Both my agent and I asked them if there were any issues if I drive the car regularly. They told me as long as I have other insurance policies that covers other cars it wouldn't be an issue (which I do). I had them prepare the quote and send me the policy to go over. Sure enough, the policy was just vague enough to give them a reason to deny a claim if you regularly drive the car to/from work. It wasn't worth the risk for certain cars.

 

I had Hagerty insure my MC20 but they would not insure a 750S,I have a perfect driving record and 29 years of racing experience.I called DuPont Registry and they represent Modern American Insurance and that is who I now have insuring both cars.They do have annual mileage categories but I can live with 3,000 miles per year.

 

did you get the coverage that you retain your loss in re sale value if someone hits you? and i believe the other component full insured to the amount, not the "current" amount? What did your policy cost and what deductible?

 

I have State Farm. They are $699 a half vs Hagerty at $900 a half. Live in Ohio so need to check your rates but they are the cheapest I’ve found.
No mileage restrictions.

 

did you get the coverage that you retain your loss in re sale value if someone hits you? and i believe the other component full insured to the amount, not the "current" amount? What did your policy cost and what deductible?

 

I have Hagerty for my Mclaren GT and BMW m4CSL. It was 1/2 the cost of State Farm. I get the feeling State Farm doesn't want to insure these cars in Pennsylvania anymore. Many years ago, I had two claims on concours cars and Hagerty paid a top notch restoration shop of my choice to do the jobs the right way without blinking an eye. Essentially, they paid an artisan to remove the panels, strip them to the metal and reshape them by hand rather than use bondo. I still have the photos somewhere. They were very sympathetic to the quality of the cars and the need to have the work done the right way. I wouldn't hesitate to recommend them.

 

I have Hagerty for my Mclaren GT and BMW m4CSL. It was 1/2 the cost of State Farm. I get the feeling State Farm doesn't want to insure these cars in Pennsylvania anymore. Many years ago, I had two claims on concours cars and Hagerty paid a top notch restoration shop of my choice to do the jobs the right way without blinking an eye. Essentially, they paid an artisan to remove the panels, stripe them to the metal and reshape them by hand rather than use bondo. I still have the photos somewhere. They were very sympathetic to the quality of the cars and the need to have the work done the right way. I wouldn't hesitate to recommend them.

Same experience I had. Had a claim on my NSX. No questions asked. Use anyone I wanted to get the car repaired. Sent a check directly to me within days. Super easy. Following years renewal didn’t move either. That was encouraging

 

My homeowner's with USAA has gone through the roof. My auto premiums actually decreased a little this term. I can't ever remember that happening before.

 

USAA has become too big, IMO. We ditched our homeowner's insurance with them. I'd check out Armed Forces Insurance.

 

I have Grundy

 

Hagerty won't insure Mclarens right off the bat even if you were insuring other exotics with them for a long time. They will only insure it after you own the Mclaren 1 year without any claims.

 

That is exactly what they told me also,so I was forced to look at other insurers and I saved quite a bit on the MC20 for the next year With American Modern.

 

Only thing I can add is…shop around and read the fine print. Insurance makes little sense anymore with regard to rates…And rates have gone through the roof. I know they have a computer programs that has thousands of parameters but sometimes it’s just silly. My Ferrari is half what my wife’s Navigator is to insure. AZ (Phoenix/Scottsdale) rates are stupid expensive these days…

Hagerty wanted $7500 per year (laughable) for my 964 3.6 Turbo, State Farm was $1800. Shop around.

 

did you get the coverage that you retain your loss in re sale value if someone hits you? and i believe the other component full insured to the amount, not the "current" amount? What did your policy cost and what deductible?

 

I use hagerty.

 

Hagerty couldnt get anywhere near almost all of my recent quotes. Partially due to Florida coastal location, but it was absurd...

Grundy was phenomenal for me but I was just non-renewed...ended up with American Modern. State Farm offered but only as a market value policy and I was strictly interested in an Agreed Value policy

 

I have a 21 Gt and when I called Hagerty, they quoted me and said total payout would only be $119k. My car is black booked at $145k.

 

And by the way, an AGV policies effectiveness is not more applicable to a collector car that appreciates or than to an exotic that depreciates...the AGV policies strength is for a car that has a lot of movement in value, either up OR down. A car that has a stable value would have less benefit

 

Btw, did your new policies exclude flood for the agreed value policies. After the two hurricanes hagerty now excludes glood and made me sign in evacuation plan. My agent tried to shop around and all of the agreed value insurers were excluding flood.

 

MY American Modern agent switched me over to Hagerty to save money. They have my '24 750 insured with Hagerty now. When my agent tried to have Hagerty insure me with my '21 720 they wouldn't do it until I had one year with no claims. I went 2 years with no claims, sold the 720 & now have Hagerty. There are a lot of variables that determine insurance fees. I am over 60, male, no accidents/violations & live in NorCal. I have agreed value of $575K with 3K mi annual. The premium is $7200/yr.

 

Haggery will not insure with me till I’ve owned my car over 12 months.

 

same here. Ended up with AM and couldn’t be happier.

 

I have my 720S Spider and two other cars insured via Hagerty. I did so on the recommendation of a couple friends who have had claims and praise Hagerty for taking good care of them. Thankfully I have had no claims with Hagerty, but in general I am very pleased.

 

Try Grundy. I have my 720S insured with them after Hagerty refused to cover the car for the first year, even though I had my Nissan GT-R insured with them for 7 years. No tickets, no accidents.

 

I have state farm and they will also cover your windshield, some policies don’t. They have good rates too. Hagerty I was told you must own the McLaren for a year before they will consider you, even if you have owned and insured other cars with them. It’s something with McLarens. Hope this helps

 

I too am shopping around now. Price jump from 720 to 750 was pretty big, really big. So far a couple of online quotes aren't much better than my current rate though.

 

In CA, Hagerty includes earthquake insurance which is something I have never heard of with other insurance companies.

 

I have Hagerty for my 750S, 600LT, MC20 and GTRs; and Porsche insurance for my and my wife's daily drivers (Taycan Turbo GT and BMW 535xi). I used to be with Amica but when I tried to insure the 750S, they threw a fit and told me I had to many cars with them 😳 and asked me to move to another agency (I have a clean record with no claims ever🤷🏻‍♂️). Very weird, but Hagety was fantastic and covered my non DD immediately. As a bonus, the Hagerty/Porsche Insurance combined bill was 40% cheaper than Amica.☺

 

I have Hagerty for my 750S, 600LT, MC20 and GTRs; and Porsche insurance for my and my wife's daily drivers (Taycan Turbo GT and BMW 535xi). I used to be with Amica but when I tried to insure the 750S, they threw a fit and told me I had to many cars with them 😳 and asked me to move to another agency (I have a clean record with no claims ever🤷🏻‍♂️). Very weird, but Hagety was fantastic and covered my non DD immediately. As a bonus, the Hagerty/Porsche Insurance combined bill was 40% cheaper than Amica.☺

Too many cars??? I mean, yes, objectively you absolutely do have too many cars, but I don't see why that causes a problem for an insurance company, since you can only drive one at a time! Unless you have a lot of friends who also drive them?? Can I be your friend?

 

Another vote for American Modern. Agreed value, nice deductibles for comp and glass, fine with my MT LLC, and when I had a $7600 windshield claim (rock put a nice bullseye right in front of me) they paid out to McLaren of Denver no problem based on the quote they gave me. All around pretty easy given the cost of the repair, and my rates didn't change either. Have 3 toys on the same policy, all have to be 'toys' and not daily driven. I think the limit is 3k/year but they have tiers for that too if I remember right.

 

My agent just spoke to American Modern and am waiting for a quote. They will cover flood so we will see how they compare to Hagerty.

 

Ladies and Gents, thank you for all of your thoughts and suggestions. I've decided to give Hagerty a try; they appear to be a class act, at least from my limited interactions with them. Hagerty also came highly recommended by a local body shop that specializes in exotics, which is always a big plus. I got the multi-vehicle discount and Hagerty came in a good amount lower than USAA.

 

Well, just got the quote from American modern and they were more than double of Hagerty. Grundy was a little bit cheaper than Hagerty and no flood exclusion. My agent is working with Hagerty to remove the exclusion. So we will see. (Grundy does not cover daily drivers in Florida, according to their agent)

 

Agreed value is the ONLY way to go. Hagerty insured my 12C (120k AV) and it’s my first McLaren, I daily a Supra and sold my GTR last year. Maybe it varies by value? State Farm told me they do not do AV when I tried to get it for my GTR (it had 135k worth of work done to it).

 

🤮

 

thank you for this useful reply.