Decode L78

[SeattleCarGuy]

Funny story...

I use Hagerty for all four of my classics and each one, I have agreed value insurance for about 50% of the car's true value. I do this because the cars rarely get driven, just trailered to one of two shows a year and maybe a neighborhood drive with the kids. Anyway, I hate paying insurance and by reducing the values, I keep the insurance costs with Hagerty down to a minimum and I accept the risk should something catastrophic happen.

Anyway, last time I added a car to my Hagerty policy a couple years ago, they asked how much I paid for it and whether it was 1,2,3 or 4 grade car based on their ranking/appraisal system from project car to trailer queen. I then told them I wanted it insured for a value that was roughly half of what I paid. They said they would be happy to cover it for the full amount I paid as the value was within their guidelines. I stated, "no, I'm self-insured for the rest". The guy on the phone responded: "Self-insured? Never heard of them."