Too Much Horsepower to Insure?

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  1. 493 Mike

    493 Mike FBBO Gold Member FBBO Gold Member

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    Hi fellas,
    Has anyone else been turned down by Hagerty for having "too much" horsepower? They currently cover my completed 66 Belvedere SW and the parts for my 65 Belvedere 2DRHT, but they have stated they will not cover my car when completed because of horsepower? I'm 67 years old with a pretty clean record. 765 HP.
    Mike
     
  2. Richard Cranium

    Richard Cranium FBBO Gold Member FBBO Gold Member

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    Got my Hellcat insured with Grundy. No problem at all & no mention of HP ever. Of course, I'm not as ancient as you.
     
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    • 44070dart

      44070dart Well-Known Member

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      Wish I had that problem :( ... did they ask you how much HP ... did you really tell the truth ?
       
    • 1967coronet440

      1967coronet440 Well-Known Member

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      Looks like I'll be getting a new insurance company...
       
    • 69 GTX

      69 GTX FBBO Gold Member FBBO Gold Member

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      Use the factory type calculation of the 60s. Give them the HP @ 5000 rpm.
       
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      • Bruzilla

        Bruzilla Well-Known Member

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        I insured my car with Direct General, and they didn't care that it had a 440 instead of a 318 in it. :)
         
      • 69a100

        69a100 Well-Known Member

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        No, but yesterday I got turned down by Geico for my 66-300 for not being show quality. Yep, you read that right, if your car isn't a Top shelf, A-1 quality, pristine car, they won't cover you. How fucked up is that? I may pull my other 2 vehicles from them.
         
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        • Bill Monk

          Bill Monk Well-Known Member

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          I have State Farm and they were very reasonable on the car with antique plates. In West Virginia, an antique plate means you are limited to driving it from Friday 12:00 noon to Monday noon and for shows and special events. State farm never asked what kind of horsepower it made so I didn't say. They did want pictures from every angle.

          ***Note to everybody, make sure you get an appraisal and insure the car for that "STATED VALUE". If you don't and something happens to it, you may end up with the insurance companies value for say a 69 plymouth, and that may be a fat goose egg!***
           
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          • PurpleBeeper

            PurpleBeeper Well-Known Member

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            What a pain.... I know Hagerty has a "no nitrous" rule
             
          • 4mayhemi

            4mayhemi Well-Known Member

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            Is your GEICO the "classic car" version subbed out to American Modern? Mine is not show and never came up with them.
            If it's the main 1980-up GEICO policy, they're probably equating "show" for "as factory born" so then they can assign book values to it in their system. Otherwise the "classic car" policy is by pictures and agreed value.
            Or is your insurance score a 10 and they're looking for an excuse out?
             
          • 44070dart

            44070dart Well-Known Member

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            J C Tayor said no roll bar car .. other than that just a garage to park it in
             
          • Bb70charger500

            Bb70charger500 FBBO Gold Member FBBO Gold Member

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            All state doesn't care at all restored project high h.p.
             
          • super-bee_ski

            super-bee_ski FBBO Gold Member FBBO Gold Member

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            Hi Mike,
            What I'd like to know is?
            What does HP have to do with it?

            Did you list "765 HP"?
            Not that it should matter

            I have Haggerty on a couple of cars..
             
          • 747mopar

            747mopar FBBO Gold Member FBBO Gold Member

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            Really? They covered mine without asking.
             
          • GetX'd

            GetX'd Making Life Great Again!

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            You don't want Stated Value - you want Agreed Value or Agreed Amount. If you get stated value you may just get the insurance company's estimate. There's a defined difference in the terminology. Talk to your agent, read your contract - and be properly informed. I don't want anyone getting screwed on that premise.
             
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            • Bill Monk

              Bill Monk Well-Known Member

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              Good point. Maybe laws and terms differ depending on the state. Point is make sure you are fully covered no matter what they call it.
               
            • 66Satellite47

              66Satellite47 FBBO Gold Member FBBO Gold Member

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              I have American Modern through Heacock. Check them out.
               
            • 493 Mike

              493 Mike FBBO Gold Member FBBO Gold Member

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              A
              All I stated is what my insurance company told me. I have used Hagerty for many years, never filed a claim.
              Mike
               
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              • Ranger16

                Ranger16 Well-Known Member

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                Just checked my policy. Hagerty calls it a "Guaranteed Value", which is the amount they pay in the event of a total loss.
                 
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