<html><head></head><body bgcolor="#FFFFFF"><div>Interestingly, in a recent edition of Hagerty's on-line magazine, they gave the example of a guy in a hot muscle-car who was goaded into showing off by a couple of high-school students, and burned rubber right into the side of an ice-cream parlor. They paid the claim in full, and wrote that the moral of the story was not to show off.</div><div><br></div><div>I found it very interesting that they would not only use that example, but that they would use it to show one of their paid claims.</div><div><br></div><div>Sincerely,</div><div><br></div><div>Chris<br><br><br></div><div><br>On Nov 23, 2013, at 7:36 AM, "Will Kooiman" <<a href="mailto:will.kooiman@gmail.com">will.kooiman@gmail.com</a>> wrote:<br><br></div><div></div><blockquote type="cite"><div><div><div><div>I understand their logic.</div><div><br></div><div>How many stories have we heard about someone wrecking a modified car (Pantera or otherwise) because they couldn't handle the HP?</div><div><br></div><div>And sometimes they do it on a track, and claim it happened on the way to the track.</div><div><br></div><div>Or they wreck showing out, and call it an accident.</div><div><br></div><div>A car engineered for the HP (vs. modified by owner) should be safer, and while it is true that it isn't always, it is a reasonable assumption made by Hagerty.</div><div><br></div><div>Hagerty could rely on actual losses, bet it is cheaper to make this assumption.</div><div><br></div><div>Think about your USAA insurance. When USAA was founded, the assumption was that Army/Air Force officers would have lower losses, due to being more responsible. For the first several years, officers got money back. Their subscriber savings account (SSA) grew, collected interest, and the interest was greater than their actual losses. So, if you had USAA insurance, your net cost was negative. But then USAA grew, the membership qualifications expanded, USAA hired adjusters, etc., just like a normal insurance company. Now they are even advertising on TV. And the rates and coverage is only slightly better than most insurance companies.</div><div><br></div><div>My point is USAA is still an excellent company, but their original plan wasn't fair. All officers are not responsible. But most are, so that's what allowed them to provide great rates.</div><div><div><div style="font-family: Calibri, sans-serif; font-size: 14px; "><font class="Apple-style-span" color="#000000"><font class="Apple-style-span" face="Calibri">--</font></font></div><div style="font-family: Calibri, sans-serif; font-size: 14px; "><span class="Apple-style-span" style="font-family: Calibri; ">Will</span></div></div></div></div></div><div><br></div><span id="OLK_SRC_BODY_SECTION"><div style="font-family:Calibri; font-size:11pt; text-align:left; color:black; BORDER-BOTTOM: medium none; BORDER-LEFT: medium none; PADDING-BOTTOM: 0in; PADDING-LEFT: 0in; PADDING-RIGHT: 0in; BORDER-TOP: #b5c4df 1pt solid; BORDER-RIGHT: medium none; PADDING-TOP: 3pt"><span style="font-weight:bold">From: </span> <<a href="mailto:shawkins777@comcast.net">shawkins777@comcast.net</a>><br><span style="font-weight:bold">Date: </span> Saturday, November 23, 2013 6:10 AM<br><span style="font-weight:bold">Cc: </span> <<a href="mailto:detomaso@poca.com">detomaso@poca.com</a>><br><span style="font-weight:bold">Subject: </span> Re: [DeTomaso] Insurance increase<br></div><div><br></div><div><div><div style="font-family: Arial; font-size: 12pt; color: #000000">Your assuming they sell the same policy in every state but, every state has difference rules and regulations.<br><br>Steve<br><br><hr id="zwchr"><b>From: </b><a href="mailto:MikeLDrew@aol.com">MikeLDrew@aol.com</a><br><b>To: </b><a href="mailto:asajay@asajay.com">asajay@asajay.com</a>, <a href="mailto:detomaso@poca.com">detomaso@poca.com</a><br><b>Sent: </b>Saturday, November 23, 2013 1:41:39 AM<br><b>Subject: </b>Re: [DeTomaso] Insurance increase<br><br><font face="arial,helvetica"><font color="#000000" face="Geneva" size="2"><br>
In a message dated 11/20/13 20 38 14, <a href="mailto:asajay@asajay.com">asajay@asajay.com</a> writes:<br><br><br></font><blockquote cite="" style="BORDER-LEFT: #0000ff 2px solid; MARGIN-LEFT: 5px; MARGIN-RIGHT: 0px; PADDING-LEFT: 5px"><font color="#000000" face="Geneva" size="2"></font><font color="#000000" face="Geneva" size="2">I got an unsolicited phone call from them today. The person who spoke with me had seen an email trail... and mentioned "Mike Drew." I don't think Mike was the source, but that was the clue they probably have eyes into this list. It's the -only- place I've made any comment, and as I recall... never mentioned their name, until now. Of course Mike Drew hit the nail on the head when he said I'd been "Hagerty'ed."<br></font></blockquote><font color="#000000" face="Geneva" size="2"><br><br>
>>>I certainly never contacted them, but presumably one of their customers on the forum has read this info and called them up to ask "WTF?"<br><br>
The sad thing is, I really like the company. They apparently have great service, and without a doubt they contribute more than others do to the hobby on all levels (I proudly have several free Hagerty hats and have eaten more than my share of free donuts at Pebble Beach, to name but one example). So as a company, they seem great. But their underwriting standards and policies are just insane.<br><br>
Here's a fer-instance. Let's say you have a bone-stock 1969 L78 Camaro, fitted from the factory with a 396 rat motor that made, say, 375+ hp. Your neighbor has a plain-jane Camaro with a 350 engine, which was factory-rated at 290 hp. He put a different intake and carb on it, changed the cam, and now it makes 350 hp. It's still 25 hp less than yours, but yours is stock so you get to pay $4 per $1000 of coverage, and his is modified so he gets to pay $9 per $1000 of coverage, on what are otherwise identical cars.<br><br>
How screwed up is that?<br><br>
It's clear that Hagerty is aiming at a very specific demographic in the collector car world--the guy who has a bone-stock, original car, of whatever specification or age. There's nothing wrong with that, but I do think it is deeply unfair to penalize people like us so arbitrarily and capriciously. <br><br>
Fortunately, there are plenty of other options available to us in the marketplace, so if we are educated consumers, we can make choices that are best for us. In some cases, that choice may even be to continue to pay more for your existing policy (for instance, if you have a claims history and your rates were *not* raised, you may find that other insurers ding you for having a claims history).<br><br>
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