Collector Car Insurance

FantomWorks doesn’t endorse any companies and we aren’t getting reimbursed in any way for our comments. We are simply giving our impressions based on our experiences with these companies in relationship to vehicle coverage.  If you believe we are improperly rating companies, please send us your experiences and grades and we may adjust our comments.

We rate insurance companies differently than you might as a consumer.   Consumers generally rate policy service, cost, and access to information as their primary concerns.  DRS FantomWorks rates insurance companies according to the following categories:

Policy Coverage translates to Actual Coverage  (Coverage)

Insurance Company Willingness to Pay Claims (Payment)

Timeliness to Support Claim and get Customer Vehicle Repaired (Timeliness)

Customer Service and their Flexibility to Work with Special Vehicle Requirements (CS/Flexibility)

Overall Impression: Superior Insurance Company.  Whatever our customers believe they have purchased in insurance is exactly what they have. Foremost is fantastic to work with as a repair facility and is fantastic to their customers.

Overall Impression: Excellent Insurance Company.  For late model insurance they are absolutely excellent. For collector car insurance they are very good.  Because of their general unfamiliarity with classic cars, many of the agents have difficulty dealing with some of the special requirements related to classics but overall they are willing to work with repair shops to get their customers taken care of.

Overall Impression: Good Insurance Company.  Like USAA, for collector car insurance they are very good.  Their general unfamiliarity with classic cars means getting repairs completed may take some extra work but overall they provide the coverage they state.

Overall Impression: AMAZING Insurance Company.  Absolutely fantastic coverage if you own a collector car. Not sure if they will cover late model vehicles but if they did, I’d reccomend them for that as well.  They are as good as Foremost in terms of coverage and in everything that Foremost does however HAGERTY is even better at a few things and from our perspective are the  high water mark in the industry we’ve found (especially for customer service).  They are great about answering their phones and returning messages. They also have a HAGERTY field agent do the initial estimate for the customer (just like with a late model car and most insurance companies) which is something no other company we’ve ever seen has done.  I know of no better company to insure your collector car with than HAGERTY.

Overall Impression: Terrible Insurance Company.: avoid at all costs with a classic car.  Allstate’s advertises they protect you from mayhem better than any other company and yet if you purchase Allstate insurance, the biggest mayhem you may deal with seems to be the Allstate insurance agent.  Biggest problem with Allstate is that when it comes to classic cars they will allow you to pay for any reasonable amount of coverage on your car. Unfortunately in the event of an accident, they won’t necessarily cover your vehicle for the coverage you’ve paid for. In one instance, a customer had paid for 25,000.00 coverage on a classic car and had paid all premiums based on 25K coverage for four years. When his car was damaged, Allstate declared his vehicle was only worth 13K and that was all they were willing to cover. When questioned about the 25K coverage, they stated, “we allow customers to pay for coverage but we only pay policies to the limits we  feel the car is worth.” Yep, that means you may pay for insurance that you will never get. Another concern is that even if you don’t approach the limits of the value of your car, Allstate will low-ball repair companies to the point that a vehicle couldn’t possibly be fixed for “their opinion” of what the repairs should cost. In one case, a bent frame on a muscle car was brought to a frame shop.  The estimate was approximately 12 hours repair at 85.00 per hour. Allstate agreed to pay them 45.00 per hour for 6 hours to fix the car.  The frame shop refused to fix the car for less than thirty cents on the dollar and Allstate then told the owner if he wanted his frame straightened, HE WOULD HAVE TO PAY THE DIFFERENCE.  Beware of Allstate!