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Discussion Starter · #1 ·
So I'm shopping for a SRT-4 and while Progressive insurance (who I have on my other cars) would be relatively cheap, I don't think it'd be the way to go if I'm spending $10-20k on a SRT-4.
As they would only go by the KBB value if something happened to it, say only like $5-8k or something.

For example, if I bought one for $15k....I'd get coverage thru Hagerty or something for a stated value of $15k so I wouldn't be losing my butt if something happened to the car.

So as the prices/values are going up, are you guys switching to insurance with better coverage?
If so, who are you using?

I only reached out to Hagerty so far, for a quote, and it was $600/year. Limited to 5k miles/year btw with some good coverage.

Any advice/feedback would be appreciated.
 

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So I'm shopping for a SRT-4 and while Progressive insurance (who I have on my other cars) would be relatively cheap, I don't think it'd be the way to go if I'm spending $10-20k on a SRT-4.
As they would only go by the KBB value if something happened to it, say only like $5-8k or something.

For example, if I bought one for $15k....I'd get coverage thru Hagerty or something for a stated value of $15k so I wouldn't be losing my butt if something happened to the car.

So as the prices/values are going up, are you guys switching to insurance with better coverage?
If so, who are you using?

I only reached out to Hagerty so far, for a quote, and it was $600/year. Limited to 5k miles/year btw with some good coverage.

Any advice/feedback would be appreciated.
I'll have to look into Hagerty. I like the idea of a stated value. Alternatively, you could have your car appraised.
 

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I'm in the process of doing this also because I just grabbed a 2004 solar yellow with low miles. I tried to ask for $40k because of car value plus the mods I'm adding, but they laughed in my face at American Collectors Insurance (USAA Partner) - They are like....how's a Dodge Neon worth $40k? Lol. I'll probably drop the value some and see if they'll do it or try Hagerty.
 

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Discussion Starter · #4 ·
I'm in the process of doing this also because I just grabbed a 2004 solar yellow with low miles. I tried to ask for $40k because of car value plus the mods I'm adding, but they laughed in my face at American Collectors Insurance (USAA Partner) - They are like....how's a Dodge Neon worth $40k? Lol. I'll probably drop the value some and see if they'll do it or try Hagerty.
It all has to go thru underwriting to get approved (the value), but I was just using $15k....so it wasn't some crazy off the wall number and he said it'd probably be okay.
Worst case, they just need a bill of sale or something to show what I paid.

Something like $40k though, yeah I'm sure they'd want proof or something to back up that high of a amount!


I know Grundy would be another "collector" insurance company......are there any other ones to look into?
 

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So I'm shopping for a SRT-4 and while Progressive insurance (who I have on my other cars) would be relatively cheap, I don't think it'd be the way to go if I'm spending $10-20k on a SRT-4.
As they would only go by the KBB value if something happened to it, say only like $5-8k or something.

For example, if I bought one for $15k....I'd get coverage thru Hagerty or something for a stated value of $15k so I wouldn't be losing my butt if something happened to the car.

So as the prices/values are going up, are you guys switching to insurance with better coverage?
If so, who are you using?

I only reached out to Hagerty so far, for a quote, and it was $600/year. Limited to 5k miles/year btw with some good coverage.

Any advice/feedback would be appreciated.
Progressive is awful, I tried to ask what my car would be worth if it were totaled, and they couldn't give me any answer, not even a ballpark. Recently my experience with getting my vehicle fixed, now more than 5 months after the accident, has led me to believe that Progressive is falling apart at the seams. I really have no doubt that if my car were totalled, even through no fault of my own, that I wouldn't see more than 4k to 5k, for a car I could sell right now for 10-12k.

Good luck trying Hagerty.

I called them last year, and after about a half hour of providing info and discussion, the rep contacted their underwriting and within 5 minutes he was told that the SRT4 couldn't be insured by Hagerty because there is no listing point to work with. Basically, not enough SRT4's have collector's insurance to justify a value for collecting purposes, or some such thing, is that they claimed.

Oddly there are people who have had their car insured through Hagerty (SRT4's) but I don't know how they did it. Honestly Hagerty should be able to look at what they are selling for, good ones, now, some at higher prices than what they were when new, and do a ballpark estimate.

There is the option for insuring at a specific value with Progressive, but it's way more expensive than just basic full coverage for the "going rate" for what THEY think the car is worth.
 

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I had Hagerty for several years but have gone back with Farm Bureau. Hagerty did eventfully help when a towing company scraped the whole underside of my front bumper while unloading the car from a flatbed at a dealership but only after I kept after them. I had no trouble getting coverage with Hagerty so I'm stumped as to why some have had complications. All I did was tell them what I wanted the declared value to be and they charged for the premium accordingly.

My Farm Bureau agent has been changing my status from "full" to "garage" depending on the seasons, which saves me money. So no driving in winter weather...
 

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I had Hagerty for several years but have gone back with Farm Bureau. Hagerty did eventfully help when a towing company scraped the whole underside of my front bumper while unloading the car from a flatbed at a dealership but only after I kept after them. I had no trouble getting coverage with Hagerty so I'm stumped as to why some have had complications. All I did was tell them what I wanted the declared value to be and they charged for the premium accordingly.

My Farm Bureau agent has been changing my status from "full" to "garage" depending on the seasons, which saves me money. So no driving in winter weather...
That is smart.... ugh, I should, but once in awhile in December on a 50 degree day...

I get the SPEED SWEATS!!! OH LORDY!
 

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Discussion Starter · #8 ·
Progressive is awful, I tried to ask what my car would be worth if it were totaled, and they couldn't give me any answer, not even a ballpark. Recently my experience with getting my vehicle fixed, now more than 5 months after the accident, has led me to believe that Progressive is falling apart at the seams. I really have no doubt that if my car were totalled, even through no fault of my own, that I wouldn't see more than 4k to 5k, for a car I could sell right now for 10-12k.

Good luck trying Hagerty.

I called them last year, and after about a half hour of providing info and discussion, the rep contacted their underwriting and within 5 minutes he was told that the SRT4 couldn't be insured by Hagerty because there is no listing point to work with. Basically, not enough SRT4's have collector's insurance to justify a value for collecting purposes, or some such thing, is that they claimed.

Oddly there are people who have had their car insured through Hagerty (SRT4's) but I don't know how they did it. Honestly Hagerty should be able to look at what they are selling for, good ones, now, some at higher prices than what they were when new, and do a ballpark estimate.

There is the option for insuring at a specific value with Progressive, but it's way more expensive than just basic full coverage for the "going rate" for what THEY think the car is worth.
We have Progressive on our other (newer daily driver) cars and had never had any issues....been with them for 20+ years now too.

But with your SRT-4....I could see that being a different story due to parts availability and then also the value though. So that sucks.
But hence why I'm asking about "specialty" insurance for a stated value....so I don't get stuck in that position.

The Progressive guy clearly said they don't have/offer a stated value policy though.
 

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Discussion Starter · #9 ·
I had Hagerty for several years but have gone back with Farm Bureau. Hagerty did eventfully help when a towing company scraped the whole underside of my front bumper while unloading the car from a flatbed at a dealership but only after I kept after them. I had no trouble getting coverage with Hagerty so I'm stumped as to why some have had complications. All I did was tell them what I wanted the declared value to be and they charged for the premium accordingly.

My Farm Bureau agent has been changing my status from "full" to "garage" depending on the seasons, which saves me money. So no driving in winter weather...
So why did you switch from Hagerty?

Also....so what would happen with Farm Bureau if the car got totaled?
Do you have a stated value policy with them?

Hagerty said they already figure in their rates the winter/summer driving seasons. But I know what you meant by doing that. I'm just curious how you're handling the value though.
 

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So why did you switch from Hagerty?

Also....so what would happen with Farm Bureau if the car got totaled?
Do you have a stated value policy with them?

Hagerty said they already figure in their rates the winter/summer driving seasons. But I know what you meant by doing that. I'm just curious how you're handling the value though.
My Farm Bureau agent added "Excess Custom Equipment Coveage" and "Excess Electronic Equipment Coverage" to try to make up the gap that declared value insurance would offer. So, no, my Farm Bureau policy isn't a declared value one but it is what I can afford right now. I would receive ACV less a $500 deductible plus the extra coverage added by my agent. I just hope that I don't have an accident while driving my baby.

You asked why I switched- after a towing company in Indianapolis refused to pay for the damage caused to my car when it was unloaded from their flatbed at a dealership, my Hagerty agent didn't do squat to help me so I had to do all of the legwork myself. In fact, I never got to meet my Hagerty agent in person, we dealt only over the phone. Eventually, Hagerty got the towing company to pay up to fix my car but I was ticked off enough to go back with Farm Bureau. I've dealt with my Farm Bureau agent for 19 years and he has always given me good advice, even when I wasn't his client.

As for Progressive, I will never do business with them again. My '02 SXT was totaled by an illegal immigrant in '03 and I had to fight with Progressive through the entire settlement process. They lowballed the amount paid to me when my car was totaled and I ended up filing a complaint against them with the Indiana State Department of Insurance.
 

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Discussion Starter · #11 ·
My Farm Bureau agent added "Excess Custom Equipment Coveage" and "Excess Electronic Equipment Coverage" to try to make up the gap that declared value insurance would offer. So, no, my Farm Bureau policy isn't a declared value one but it is what I can afford right now. I would receive ACV less a $500 deductible plus the extra coverage added by my agent. I just hope that I don't have an accident while driving my baby.

You asked why I switched- after a towing company in Indianapolis refused to pay for the damage caused to my car when it was unloaded from their flatbed at a dealership, my Hagerty agent didn't do squat to help me so I had to do all of the legwork myself. In fact, I never got to meet my Hagerty agent in person, we dealt only over the phone. Eventually, Hagerty got the towing company to pay up to fix my car but I was ticked off enough to go back with Farm Bureau. I've dealt with my Farm Bureau agent for 19 years and he has always given me good advice, even when I wasn't his client.

As for Progressive, I will never do business with them again. My '02 SXT was totaled by an illegal immigrant in '03 and I had to fight with Progressive through the entire settlement process. They lowballed the amount paid to me when my car was totaled and I ended up filing a complaint against them with the Indiana State Department of Insurance.
Damn....sounds like bad experiences all around....sorry man.

I've never had or dealt with a direct agent either, with Hagerty or Progressive, FWIW.

So, that said, how much is your Farm Bureau insurance for the whole year? (if you don't mind me asking)
I was quoted just under $600 for the whole year thru Hagerty for a $15k value.
 

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So, that said, how much is your Farm Bureau insurance for the whole year? (if you don't mind me asking)
I was quoted just under $600 for the whole year thru Hagerty for a $15k value.
I think that my premium with Farm Bureau is $429 semi-annually. I say "think" as I just sold my house and moved to another county so the bundled rate will possibly change once my agent gets everything finalized. I don't have the Hagerty paperwork handy but I had set a declared value of $25K and they charged the premium accordingly.
 

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Discussion Starter · #13 ·
I think that my premium with Farm Bureau is $429 semi-annually. I say "think" as I just sold my house and moved to another county so the bundled rate will possibly change once my agent gets everything finalized. I don't have the Hagerty paperwork handy but I had set a declared value of $25K and they charged the premium accordingly.
So how much do they have on your policy for the extra parts coverage?

It all sounds fine & dandy, and covered now, but I would think if something happened that the adjuster might question it all. (no offense)

I mean I know it sounds like a work around, but how "secure" is that work around idea if something did happen is my point.
 

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I'll have to look into Hagerty. I like the idea of a stated value. Alternatively, you could have your car appraised.
Very interesting thread. I’m in the same boat in knowing if I wreck my 21k mile SRT4 that I’m looking at a low value payout.

I’m curious, has anyone had good luck paying for an appraisal? I’m interested in people’s experience and insurance setup there.
 

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I’m curious, has anyone had good luck paying for an appraisal? I’m interested in people’s experience and insurance setup there.
Before I was with Hagerty, I tried American Family. That agent arranged for an appraisal and I had no trouble paying for it. I wish that I could have said the same for American Family- they screwed up my policy (claimed that my VIN was for a Dodge Stealth!) and I ended up canceling and going back with Farm Bureau.
 

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Discussion Starter · #20 ·
Very interesting thread. I’m in the same boat in knowing if I wreck my 21k mile SRT4 that I’m looking at a low value payout.

I’m curious, has anyone had good luck paying for an appraisal? I’m interested in people’s experience and insurance setup there.
Hence why I posted this thread!

I wasn't sure if people were thinking about this and/or taking it into account since values have gone up, despite the low KBB values.

And then I was trying to see who people were using too for insurance (as I'm looking to buy one)
 
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