Insurance question

[flousberg]

I have searched but everything seems to be old. I drive my stuff. I have the bronco and want to drive it as normal as I want but want an agreed value incase it would be stolen. Not worried as much about a wreck as I fixed it once, could fix it again. I also want my son to be able to drive it from time to time. It is garaged. Hagerty seems really expensive, quoted $3500/year for $60k value. might have something wrong checked.

 

[serial car restorer]

I carried agreed value on a '72 Porsche 911 I drove for a few years, and I shopped around a fair bit. Hagerty is good, and easy to deal with if you have a claim. But considerably more expensive than most any other company I checked with. I ended up with American Collectors Insurance. Better rates, fewer restrictions, more flexibility.

In any case, shop around, and pay attention to the usage restrictions they have, as they can vary a lot.

 

[JB Fab]

You need to start with an actual independent appraisal. $185K value, State Farm $1400 per year (limited milage, and multi discount).
Having an independent appraisal has been instrumental in making sure repairs were correctly covered after loss.

 

[mdainsd]

I use Grundy. Stated value. I use them for all my classics so I probably get a discount, but for 65K value I pay a little less than 200/year. No real driving restrictions either. Just have to have a regular driver and the Bronco needs to be housed in a garage.

 

[mathenykx]

That Hagerty quote sounds high, but agreed‑value policies are always pricier since they guarantee payout at the set value. Some companies are more flexible than others, especially if the vehicle is garaged and not a daily driver. I’d check out rankings of carriers at https://beinsure.com/ranking/us-commercial-auto-insurers/ to see which insurers are competitive in agreed‑value coverage.

 

[toddz69]

I have searched but everything seems to be old. I drive my stuff. I have the bronco and want to drive it as normal as I want but want an agreed value incase it would be stolen. Not worried as much about a wreck as I fixed it once, could fix it again. I also want my son to be able to drive it from time to time. It is garaged. Hagerty seems really expensive, quoted $3500/year for $60k value. might have something wrong checked.

I have a similar agreed-value insured with Hagerty and my annual premium (AZ) is ~$800 iirc. $3500 sounds outrageous.

Todd Z.

 

[JB Fab]

That Hagerty quote sounds high, but agreed‑value policies are always pricier since they guarantee payout at the set value. Some companies are more flexible than others, especially if the vehicle is garaged and not a daily driver.

Zip Code makes a big difference in price.....

 

[bknbronco]

I pay $212.00 a year for my $20,000 dollar policy at state farm. 20K is much to low for a bronco these days and i should really bump it up to at least 60K

Im in Minnesota and we pay huge mounts for insurance in this state. State farms only restriction is the 3,000 mile a year, but even if i try and drive the shit out of it i end up only driving 1000 miles or just a tad more maybe

 

[tbruz]

1976 Bronco restored to bone stock showroom condition.
Insured thru State Farm for 100K agreed to value - $264/6 months so $528/year in NH.

Dropped Haggerty after 12+ years when they attempted to double my classic car policy because my 22 year old son graduated from college and moved back into the family home.
Their claim was "under 25 year old driver living in the home" even though he wasn't an approved driver on the policy.
Sounded suspect to me.....
Funny but it wasn't an issue for Haggerty before he left for college at 18 though....
Tbruz

5/7/26 Update: just got informed by State Farm that they will no longer be providing classic car insurance themselves but rather they will provide it thru....Haggetry.