Announcement

Collapse

Seven Wiki Available

Please check out our wiki available at:

http://www.californiacaterhamclub.com/wiki7
See more
See less

Insurance

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Insurance

    So what are you guys doing for insurance? I had been using Hagerty for 6 years but they keep raising my rates and it is now insane, they want over $900/yr to insure the 7, and I have a perfect driving record, over 40, and only put about 3-4k miles a year on the car WTF?!


    I have a call into Farmers who insures my other cars, but open to suggestions
    www.morgansegal.com

    The funny thing is my wife goes " What is that car a Morgan ? " and I said "No that's a Caterham but there is a Morgan driving it " -delise

  • #2
    I agree with you, Morgan. I've been w/Hagerty for 9 years now up for renewal in June. I've dropped my declared value to a point where I won't go any lower in case of a total loss. I'll be starting to shop around in the near future, so I'll post what I'll find out if Hagerty can be topped by another underwriter.
    With Best Regards,
    Jim F.

    Comment


    • #3
      Insurance for 7

      I have auto insurance with AAA. They cover the 7, the motorhome and daily drivers. The coverage of the 7 is the main reason that I stay with them.

      Comment


      • #4
        Yes, I was shocked about the latest bill. I started out with $480 for liability plus cc. This year I paid almost $800 The agreed-on value increased over the years but is still not that high, I believe $28k. I did notice that Hagerty as a broker changed the underwriting insurance almost every year.

        Let me know if you find something more reasonable. When I got the car I tried AAA where we have all other insurance but back then they only wanted to do liability. They had a partner company for collector car insurance but these folks did not know what to value a Replica. An original Lotus Seven would have been possible.

        Comment


        • #5
          I have Farmers. Agreed value on each of the Lotus, about $20k each. I think the premium is about $200.00 for each car. Not sure and I'm on travel at the moment so I can't check on the exact amount. but I can when I get home for the weekend.
          EscondidoRon

          '62 Lotus Seven
          '84 Turbo Esprit (x2)
          '14 Evora
          '77 Esprit S1 (RIP) :(

          "A man must keep a little back shop where he can be himself without reserve. In solitude alone can he know true freedom." -Michel De Montaigne 1588

          Comment


          • #6
            Originally posted by mopho View Post
            So what are you guys doing for insurance? I had been using Hagerty for 6 years but they keep raising my rates and it is now insane, they want over $900/yr to insure the 7, and I have a perfect driving record, over 40, and only put about 3-4k miles a year on the car WTF?!


            I have a call into Farmers who insures my other cars, but open to suggestions

            I'm so totally pissed off at Hagerty. They've done *exactly* the same to me. I'm calling my broker - Hagerty can go f themselves.
            Chris
            ------------
            A day you don't go a hundred is a day wasted

            Comment


            • #7
              I have also used Classic Auto Insurance Agency as well as Hagerty
              http://www.zenoscarsusa.com Official importer of the Zenos E10
              http://www.theadrenalinegallery.com Your USA dealer for Levante Cars, Origin Cars, Minotaur Racing, Sadev Gearboxes, RST V8 Engines, and more... How fast do you want to go?

              Comment


              • #8
                My car hasn't even been built yet and my State Farm agent has my policy ready to go. She called the underwriter and had it taken care of in less than a day. The price is about the same as my Corvette was.
                Still in the massive grin stage. Damn bugs

                Comment


                • #9
                  Update: My State Farm agent first came back with a decent price but then when they called the underwriter to get some answers to my questions they were told that SF won't insure the car. My agent is currently looking for other options
                  www.morgansegal.com

                  The funny thing is my wife goes " What is that car a Morgan ? " and I said "No that's a Caterham but there is a Morgan driving it " -delise

                  Comment


                  • #10
                    My car is insured by State Farm since the the day I bought it.

                    Comment


                    • #11
                      Do you have declared value insurance on it?
                      www.morgansegal.com

                      The funny thing is my wife goes " What is that car a Morgan ? " and I said "No that's a Caterham but there is a Morgan driving it " -delise

                      Comment


                      • #12
                        I believe I do.

                        Comment


                        • #13
                          A LONG time ago the folks on USA7s were looking at a group insurance buy for Se7ens. That did no go anywhere as far as I know.

                          Maybe we should check again if somebody has insurance connections that could get us a better deal.

                          Comment


                          • #14
                            I just pulled out the statement from Farmers for my fleet (7 cars in total). The coverage for the Seven is $71.90 per 6 months + a $0.90 transaction fee to bring the total premium to an even $72.00 per 6 months. Full coverage, $20k agreed value, no towing (we use AAA for that). $1,000.00 deductable for accident damage and $750.00 deductable for comprehensive.
                            EscondidoRon

                            '62 Lotus Seven
                            '84 Turbo Esprit (x2)
                            '14 Evora
                            '77 Esprit S1 (RIP) :(

                            "A man must keep a little back shop where he can be himself without reserve. In solitude alone can he know true freedom." -Michel De Montaigne 1588

                            Comment


                            • #15
                              My Hagerty bill last November was $646 for $30,000 (probably should lower that). State Farm got me a daily driver rate, thru a 3rd party, for $110 a month when I first bought the car (thought it was too much for the little I was driving it).

                              Comment

                              Working...
                              X