Jumpster74

iTrader: (1)

Looking to get my car on the road soon and am interested in what people are doing for insurance on their built Miatas.

• Fun weekend street car
• I have a daily
• Track/autox once a month
• 21, Male
• Full coverage if possible
• previously used USAA

The issue I'm seeing is most companies do not want to insure a Miata self valued at 10x KBB value. Hagarty seems willing to do it, but ill be paying 5x what I can get liability for through USAA.
I have not dealt extensively with insurance so any advice or experience is appreciated

irollgen4s

I just turned 27 and I own a 1990 miata w/ a forged short block, vvt head TSE turbo kit. with Haggerty I pay 46 bucks a month for full coverage w/ an agreed 10k value. When comparing to using progressive or allstate the benefits i saved on by combining my miata and my other car (14 base jetta(POS)) was negligible compared to the benefits of my plan with Haggerty.

I explicitly left it that it is a street car as another time I attempted a quote through them they were not willing to cover my car if it was used extensively for track days for risk for insurance fraud(i assume). They do offer HPDE insurance however they do not honor that for any and every track day that you take the vehicle to and with that they will not cover damage that happens at a track that is not explicitly a covered HPDE track day that they recognize.

Spaceman Spiff

Another data-point for Hagerty. Agreed value @14k. Liability, Collision, and Comprehensive (no uninsured motorist as they don't offer to drivers in TX who will take cars to AutoX or HPDE). Annoys me they make you pay for their bullshit "Drivers Club" magazine or whatever, but they're pretty much the only game in town that will do easy agreed value policies. After going through the ringer with Allstate on my poor old 70k mi '97 M a neighbor backed into a totaled (pour one out), it's certainly worth it to me.

-Male/Mid-20s/AustinTX/14k value --> $800 a year

Compared to what the "Actual Cash Value" something like this would come out (3? maybe 4k with low miles?), Hagerty would have to cost like an extra $1000 a year for you to come out ahead just putting the savings you'd get from a more traditional insurer into a miata-totalled-rainy-day fund. For me the difference ended up being maaaybe a couple hundred dollars.

skylinecalvin

iTrader: (2)

Am I doing something wrong?

Location: Texas
Vehicle: 03 Miata LS
Value: 7000
Mods: 300hp (no nitrous)
Purchased Vehicle: 3 years ago
Storage: Driveway
Vehicle Usage: Pleasure and autocross/hpde
Miles Driven A Year: 2000
Deductible: $500
Age: mid 20s
Standard/Default Policy Coverage they provide

Quote: $1200 a year
That's $400 more than Spaceman_Spliff on a vehicle valued at half.

EDIT: Without any 'hp' mods, then I'm at $912

Spaceman Spiff

Not sure! Guess it's time to give Hagerty a go for a quote eh? It's definitely gone down since the COVID driving slump has really lowered rates for everyone. Playing the credit card churning game/having a good credit score should also help.

Here are the coverages so we're comparing apples to apples:

Policy Coverages

• Guaranteed Value: $ 14,000 (FFS MP62, Fox Coils, lots of other assorted bits, but they didn't ask for too much proof beyond some photos. I have an excel sheet with values/urls/photos to prove value should it come down to that)
• Garaging: Private Garage/Barn/Pole Building
• A: Bodily Injury Liability: $100,000 Per Person / $300,000 Per Accident $ 112
• A: Property Damage Liability: $100,000 Per Accident $ 104
• Personal Injury Protection (PIP): Rejected
• Uninsured/Underinsured Motorists: Rejected
• Uninsured Motorists Property Damage: Rejected

Coverage for Damage to your Auto(s)

• Other Than Collision: $300 ($0 Ded.)
• Collision: $281 ($0 Ded.)

Policy Discounts/Credits, Surcharges, Other

• Motor Vehicle Crime Prevention Authority - See enclosed explanation $ 4
• Paid in Full Discount: Applied
• Driver Rating Age Factor: Applied

Total Policy Premium (12 months): $ 801

10 years driving record, 1 outstanding record in the last 2 years. Austin, TX. Hope that helps man!

Jumpster74

iTrader: (1)

Thank you guys, this is really helpful!
I'm not sure what magic touch spaceman has, but I re-ran my quote with an $18,000 guaranteed value, let a few half truths in, and still got quoted $165/mo, $1900/yr.

That's a bit better than my original quote and I'm sure the best quote I'll get with this coverage amount, but there's really not much difference between me and spaceman's policies outside of a 5 year age gap.
I have a clean record as well so seems odd they're quoting over double.
It does seem to line up with Calvin's quote though and they really seem to cater towards this type of car ownership, so pricing does seem very reasonable.

Interested to hear if anyone's attempted a full coverage policy with anyone other than Hagarty, but seems to generally be a bad idea.

Clarification: This was actually my first car so I plan to buy back if ever totaled. The full coverage is primarily for if I didn't tighten fuel clamps well enough...

Jumpster74

iTrader: (1)

Also FYI, there is an option to opt-out of the Hagerty drivers club, they just do a good job of hiding it

Spaceman Spiff

Those *******....
​​​​​​Thanks man.

moocow

Did they explicitly cover hard tops? My main problem with Geico is hard tops aren't covered because they were an OEM option or some other BS explanation, and that's the most common item being stolen.
Quoted $450/yr, 15k agreed, $500 deductible here in Cali.

Jumpster74

iTrader: (1)

Hadn't thought about that since there was no mention of it. I'll give them a call to see how they handle hardtops but sounds like it would be included in the agreed value. Luckily I've never heard of a hardtop theft case here in Texas.
Great price on that quote though!

DavidL

I have Esurance and there is an option for me to insure aftermarket parts separately. Though it states parts that weren't installed by the dealer, but wouldn't a hardtop count as a dealer installed option? Anyways, it was around $175 for 6months in the 1k-1.5k range and about $300 for the 3-4k range. They only let you insure 4k worth of stuff though.

2manyhobyz

iTrader: (4)

Also check into a company called Grundy, they are a direct competitor to Haggerty. There are others also.

calteg

iTrader: (18)

Another Hagerty convert from USAA as well. Their driver's club mags are a little pretentious, but sometimes the content is interesting

fwman1

iTrader: (3)

I have a fried who uses Hagerty for his 63 MG. He forgot to latch his hood one day and it flew off at speed doing a good bit of damage to a very well done restoration.
Hagerty stepped up and made the fix painless. They even paid to trailer the car close to 100 miles to get it to the paint shop he wanted to use.
This was about two years ago. Just good to know that they actually did what it took to get him whole and back to pre-accident condition.

Jumpster74

iTrader: (1)

Thanks again for all the input.

I looked into a few "agreed value" policies, and Hagerty definitely gives me the most confidence that I won't get screwed in some dissagreement or "misunderstanding". Should hopefully be breaking in the motor within the week.

CoralDoc

I am another Haggerty customer. Their support staff is great. Fortunately, I've never needed to make a claim, but I have heard good stories.