Hagerty ins. -- This probably won't end well for us

Discussion in 'The BS Topic' started by TTR230, Aug 18, 2021.

  1. Zstar

    Zstar Veteran Member

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    I agree with TTR. I have seen the exact same bullshit words many times from many companies and the result was always the same. The customer took it in the shorts. Prepare yourselves. I really like Hagerty, but I am not blind.
     
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  2. aviator2007

    aviator2007 Member

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    I do not like where companies go once public. They are then beholden to shareholders and even more importantly keenly focused on earnings reports. This is where bad judgement to meet earnings tanks the policy holder experience and even worse destroys a company. This process has played itself out year after year typically with the same results. Here's another twist to this situation. State Farm, which has always maintained its own classic car coverage program, has now formed and alliance with Hagerty. I was not a fan of this to start with and even less so after reading this post. Like previously mentioned a lot of other options here in the US unless they all get absorbed and we have no choice left.
     
  3. The Champ

    The Champ Veteran Member

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    State Farm can only be helped by affiliating with Hagerty. State Farm bumper stickers are actually a warning sign for informed motorists to stay far away from their insureds. Absolutely terrible claims service when it comes to trying to settle a claim against a State Farm insured.

    Speaking from experience (both literally and figuratively).
     
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  4. 70-camaro

    70-camaro Veteran Member

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    I will agree totally with this. It took me 7 months to get payment from State Farm for a claim this spring. Totally obnoxious. My local rep would not help at all. Kept telling me to deal with the adjuster. I pay him. I expected to get some get from him but no way. Thinking of shopping around now but I doubt it would be better any where else.
     
  5. 351maverick

    351maverick full time Ebay seller/hustler/car killer

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    I have a Hagerty policy on my 76 280Z...it's been $260/year for MANY years

    I do not lose sleep worrying over something like a merger/taking public etc...I'd react in the future if a reaction is necessary

    I've had MANY involvements with Progressive (claims on my end & claims paid TO me) & they have been fantastic...4 vehicles on my policy & they are dirt cheap
     
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  6. Proximity_Alert

    Proximity_Alert Member

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    It's my understanding that companies use SPACs for two primary reasons: It's a quicker path to going public, and less oversight/due diligence that would normally be necessary prior to a company going public. I couldn't blame Hagerty for using the SPAC path, but it certainly raises the question as to if the books don't look as good as they should. I'd also look for a sizable price jump in insurance as the SPAC is looking for short term returns and seems to see classic car owners as a potential cash cow.
     
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  7. carr911

    carr911 Veteran Member

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    Hagerty has been branching out acquiring events like the Amelia Island Concours
     
  8. BonzoHansen

    BonzoHansen Administrator Lifetime Gold Member

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    The bought MotorsportReg.com too.
     
  9. Patstuff28

    Patstuff28 Veteran Member

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    Just got my renewal. What’s this Hagerty Value Analysis they have tacked onto the policy? Just some guaranteed profit for them?
     
  10. TTR230

    TTR230 Veteran Member

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    I saw that too. Meant to ask about it when I renewed, but ultimately, they're the only game in town for me, so....
     

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