Crash Dummy

Certified letters(signature required) from Insurance Companies usually only come in for a couple of reasons. Here are my guesses. Excuse the little smiley things next to each one as these are my reactions to the possibility.

1) They have accepted insuring my '71 and wanted to make sure I got it. :lol:
2) They had a contest and I won lifetime FREE insurance. :cheers:
3) They are not only not insuring the '71, but are also dropping my insurance on the '74 since I am a bad risk with *drag racing* notes. :skep:

I'm optimistic! It's gotta be #2. :p:

I'll let you all know tomorrow night.

JB

Dang, I hate that sort of thing. At least it didn't come on friday so you'd have to worry about it all weekend. I've got insurance with Hagarty & I never got a certified letter, so I'm kinda thinkin' it might be #3 :( Hope it's the free insurance thing, tho!:cheers:

JB

Crash Dummy

Ya think they would be that cheesy to do it that way(#3)? They have my work number, so just a phone call away to give their reasons. Maybe they just noticed that they never did respond to the inquiry I had(a month ago) about adding the '71 and they are sending it certified to make up for it.

I guess we will see. By the way... it's not a big deal if it should be #3. I'm not particularly impressed with their way of following up on things.... or lack of it as you might say. Early this year I had an honest streak in me and notified them that I would put the '74 on the drag strip. They called me and were quite surprised that I would tell the truth. The last note I had was that they would put it in front of a committee to see if they would continue insuring the vette. Not one word in the last 7+ months. And when I picked up the '71 I inquired about insuring it too. Again... I got a phone call. It wasn't 30 seconds into the conversation that it was noted in my file about drag racing and that I would have to sign a statement and fax it to them. I did as they requested and have never heard back from them. Well... my insurance is due in October and I get a certified letter today.

Just as my note... hopefully that's not the way they handle claims.

joeveto

State Farm insured my '77 for two weeks before dropping it and refunding my money. They actually wrote the car, gave me insurance cards, and cashed my check. Then, two weeks later, they sent a letter and a check.

That was it. They decided, after signing the car, that it was a bad risk. At the time, I had my SVT Contour with them. The Contour (before the Vette's new motor) would smoke the Vette.

I hate insurance companies, and I really hate State Farm. I hope Hagerty isn't doing you like this. :rant:

dath

I don't see why they should give a crap if you drag race. It's not a big deal to have a clause in the insurance that says if damage happens on the track you're on your own. That seems logical to me at least. I want to go with them, but I have this same honesty issue and my car is/will be what they consider modified to increase HP significantly and thus I'm guessing they won't cover it. I also learned from them that they will *NOT* cover a car if you install a roll cage and I'm really hoping to get kicked off of a track at some point for lack of a cage (so I'll install one:D). Adding a safety item is apparently a bad thing in the insurance business... :crazy:

PRNDL

None of these classic car insurers will insure you (that I know of) if you take your car EVER, to a dragstrip. Logic does not apply. You can rationalize it all you want. I know I would be much safer at the dragstrip than I would be driving on the Garden State Parkway (if I ever were to go to the dragstrip), but that "logic" does not matter to them. I actually think I would be safer at the dragstrip than I would be in a parade - certainly the parade at Carlisle! :lol: and parade duty is about the only approved use of your car they will insure! You also might think they would be happy to insure you everywhere BUT the dragstrip, but nope - the mere fact that you would go there makes you an unacceptable risk. I asked the question in the most benign way possible ("What about once a year going to one of those 'oldies' days, which is more like a car show, just to see what the old vette could do at the strip?") and the answer was a definitive, "Don't even consider it."

And the problem is not just classic car insurance. I don't doubt your regular insurer would cancel you in a nanosecond or at least triple your rates if you admit to EVER taking your car to a dragstrip. :(

And another problem..... :rolleyes: when my teenage son gets his license I will be canceled, because they cannot legally exclude anyone living in the house with a license, no matter what I sign. MJ

Crash Dummy

Here's the *canned* certified letter:

NOTICE OF CANCELLATION, NONRENEWAL OR CHANGE IN POLICY PREMIUM/COVERAGE

Nonrenewal
You are hereby notified in accordance with the terms and conditions of the above mentioned policy, and in accordance with law, that the above mentioned policy will expire effective at and from the hour and date mentioned above and the policy will NOT be renewed for the reason(s) stated in the "Important Notices" section for other information that may apply.

Reason(s) for cancellation or nonrenewal - Unacceptable usage

(End of *canned* letter)

I completely understand them dropping the policy and it's again not a big deal as the '74 will be gone shortly anyway. I think it's a lousy way of doing business to not even take the time to answer any(or all) of the information I first put in this thread and then send this canned piece of crap. Just your average insurance company? I rate Hagerty no better than any of the rest as far as customer service.

It might give you all an idea about what to tell(& what not to tell) your insurance carriers. Mention drag racing? :nono:


[Modified by bgrice, 9:58 AM 9/26/2003]

stpman

Insurance companies don't seem to be consistant. 15 - 20 years ago a friend of mine became the first person (in our area) to carry insurance on a race car. The car was insured any time in wasn't on the strip, so in the pits, while being shown, and while being stored duing the off season.

Go figure.

Steve :steering:


[Modified by stpman, 11:15 AM 9/26/2003]

Gator81

I tried to get Hagerty, but they turned me down, for one reason> I admitted that I sometimes drive the car to work, when the weather's nice. WTF? I explained that I pay for parking in a covered garage at work, where I have an assigned parking stall, with keycard controlled access AND a fulltime uniformed attendant. The damn car is safer there than parked in my driveway at home. But noooooooo... they didn't even want to talk about it. :rolleyes:

I think the Corvette Forum is big enough now to form its own mutual insurance company. If you agree, tell another forum member, preferably a moderator. What do you think?

Fevre

I operate under the premise that what they don't know won't hurt them. I moved 1 mile and changed ZIP codes from 48198 to 48197, went from an apartment with outside parking to a home with a 3 car garage and once they found out I moved my insurance went up 20%.

WTF :mad :cuss :rant:

zwede

That's redicilous. No insurance co I know of covers a car during a competive event. Why would they care that you take it to the strip? If you crash drag racing they don't cover it anyway.

Fevre

Think it is from a liability stand point not collision. If you wreck and hit a bystander they do not want to be sued. Not a lawyer so don't
[Modified by Fevre, 10:50 AM 9/26/2003]

JB

I dunno, I can kinda imagine what's going through their bean-counter minds: if he's enough of a speed freak to put the car on the strip, he's gotta be doing some dicey driving off the strip. . . .

JB

Crash Dummy

I agree, but everyone is locking down on any kind of racing. I looked at some of the other classic car insurance companies and most all had a *timed event* clause that automatically disqualifies your car. That would encompass just about anything from road racing to even the ridiculous of some of the car meets where you are timed to go from Point A to Point B 50 miles away driving the speed limit.

Probably best to just have a brief memory lapse on a few questions. Duh.... nope! :lol:

Robert N

Fevre is correct that it is all about risk. Classic car companies have very strict guidelines to follow for a reason. They pay out an agreed sum (usually quite a bit) for a minimal yearly fee. If the cars are used the way the policy states, the possibility of pay out is minimal and the risk is minimal.

I don't blame Hagerty.

Bgrice, I like the way you have handled the letter and the incident with no BS or lying.

LemansBlue68

I changed companies a few years ago to Prudential Insurance. I got a certified letter a month later informing me that they could not insure the 5.0L Mustang I had at the time. Absolutely no mention was made about cancelling the other cars on my policy. I immediately called my insureance agent to ask WTF and he said he would get back to me. No response from him. I eventually tracked him down a week later only to have him tell me that my insurance on ALL my cars had been dropped. When I told him that I wanted to make sure that the "Family" cars would remain covered, he told me that they would not re-insure me because my insurance had lapsed and I was now in violation of the state law requiring insurance. SOB!!!!:mad

So, after calling a number of insurance companies, all of them told me that they would not pick me up unless I agreed to pay "high risk" rates for two years until the violation expired from my record. I had (and still do) a perfect, no infraction, driving record!!!

I complained to the Michigan Bureau of Insurance and after much correspondence, they found in my favor and forced Prudential Insurance to pay for my high risk policy for the next two years. The hillarious part (now...not at the time) was how Prudential outright lied about the scenario. Each time I was able to dispute their lies by supplying the state with copies of documents that Prudential themselves had prepared for me!!!! :lolg:

The bottom line is that insurance companies SUCK!!! All of THEM!!! It is a completely nonvalue added business that sucks billion$ from us every year and the governments forces us to put up with this abuse by the laws they have passed. Their deep pockets (actually OUR money) encourage nuisance lawsuits to run rampant as well as mindset of a complete lack of accountability.

Did I mention before that I hate insurance companies too???

Crash Dummy

JB,

I have complete confidence that the hundred or so forum members who are hopping up their vettes are only going to *putt-putt* around town at the speed limit and it never crossed their mind to use that actual power. I'd be more worried about insuring half of the vettes due to having pieces falling off of them after reading half the "How do I's?" and "What's this" posts. :p:

It's Friday.... and just humor!!!

Gordonm

I agree 100% that insurance companies suck. My wife works for an agent and comes home all the time with unreal stories on how insurance will not or does not cover this, BUT one of the big reasons insurance is so high is fraud. There are a lot of dishonest (crooks) out there milking millions of dollars from the insurance companies whopass the cost onto you and me. I agree they all suck but they need to go after the dishonest people and not the honest (you and me paying ungodly premiums). With that said :U on all of the insurance companies.

PRNDL

Here is another discussion of same topic... more or less... :(
http://forums.corvetteforum.com/zerothread?id=617684


I believe it is an "underwriting decision", ie if you engage in risky behavior, they don't want to insure you at all. As mentioned above, if you ever engage in wreckless behavior like driving without insurance (or letting your insurance policy lapse) you will be charged a much higher rate when you do apply for insurance.

Of course it creates a Catch 22 situation. Of course noone wants you to race on the street, but insurance companies won't let you race at the track either..

MJ

JB

Point taken, MJ (humor & all :)). 'Course, that's also why Hagarty's gets hairy about cars that have been modified in any significant way--they figure if you put speed gear on, you're gonna use it. I expect they also figure (correctly in my case, for better or worse) that if you've got a nice original car that even if it's capable of burning the tires off the rims, you're not going to abuse your baby like that (at least not often :D).