Technical Hagerty Agreed Upon Valued Insurance With Cherished Salvage Lets You Keep Your Vehicle For Free

Fully cover your vehicle
and in the event of a loss
get it back for free.

Insure your vehicle with Hagerty
by purchasing an agreed upon value
policy - you pay for what you value
your vehicle at.

Add the Cherished Salvage Coverage
additional coverage to your policy.

In the event of a loss - they give
you back your insured vehicle
for free.

@ https://www.hagerty.com/insurance/c...ditional-coverages/cherished-salvage-coverage


Jim

 

Wow, thanks. Just getting ready to give them a call on my Merc and RPU. Had no idea there was anything called Cherished Salvage. Do you reckon my life insurance company would give me a deal like that on my wife ? Wait, that's not what I meant. I'd like to keep her around, but???

 

Not really familiar with insurance jargon.
Exactly what does that translate to in layman’s terms??

 

Uh, there is an additional charge for your premiums, if you choose this option I believe.

 

They could have my X wife for the lowest bidder!

 

It means that for a little more premium each year, with the agreed upon value for your
vehicle, if it ever gets totaled out, they will let you keep your car AND write you a check for the agreed upon
dollar amount for your car.

 

Thx. I too wonder what the actual premium increase would be.

 

The premium increase based on your
agreed upon coverage.



Jim

 

In Colorado, for my car that is insured for $60k, it was an extra $55 per yr. Well worth it. Bob

 

I'd pay to have my ex wife squeezed in the crusher! for squeezing me out of every nickel I had 34 yrs ago.

 

I have that on all my cars insured with Hagarty after our '51 Pontiac Tin Woody was destroyed by a distracted driver. I didn't have it when that claim was made, but the salvage value they assigned it was $600, which was simply deducted from the settlement check. I sold the rind for about 3 times that so it was fine.
Let me add that we've had Hagarty for over 20 years, have 5 cars and our vintage travel trailer covered with them. When I added the '62 Impala, the premium increase, per year, was $67 for $15K coverage.

 

I am on hold with them now. Some of you guys hang up so I can move up in the queue

 

i would but they dont insure under 25.

 

Damn, I wish I was under 25. I'm closer to being under 8 feet

 

I have 4 collector cars insured with Haggerty, the cost per year for Cherished Value was only $115 for all of them combined. Just getting my stupid expensive engines back after a collision makes this a no brainer. Thanks @trulyvintage

We should make Hagerty an Alliance provider.

 

And as always , , insurance is a state by state thing , maybe in yours ,maybe not in mine ! Rules are set by state by that states insurance commission .

 

I just moved to Hagerty, did a bunch of gyrations, it was my cheapest option, with much better coverage. Close scrutiny of the policy restrictions and I can easily abide by those. I was very surprised, I had low expectations going in.

 

Had this one for 57 years, don't think I've got enough time or energy to train another one .

 

I have seven cars and a trailer with Hagerty and have had this cherished salvage option for as long as they've offered it. The increase in premium cost is negligible and it's one of those "hope you never have to use it" type things, but in the event something were to happen, I'll definitely be glad I have it.

A no-brainer in my opinion.

ironandsteele.com​

 

And, we should have them make you a Hagerty agent .

 

That sounds like a real problem solver and both Hagerty and the car owner win in this deal. Car owner doesn't have to buy the car back provided they want it back and Hagerty doesn't have to go through the hassle of dealing with getting the car hauled to where it will be sold and all that goes with that.

 

Welcome

Seems that much of what I run across on
public forums is negative - hateful
comments bashing folks and businesses.

It is a nice to be able to share some
helpful information .


Jim

 

I've been with Hagerty for over 25 years. I don't have a collection of cars, normally only 1 or 2. I bought a '56 Chevy Pickup and had it insured but not registered and drove it almost home. Had some engine trouble, Engine caught fire and burned the truck up. They gave me agreed value minus $1100.00 for me to keep the truck. I rebuilt it and eventually sold it. Unlike my normal car insurance (seems they don't like to payout for anything!), Hagerty paid it with out a negative comment.

 

Yep, my enclosed trailer is insured there as well but they don't offer the Cherished coverage on the trailer. I wouldn't want a totaled trailer anyway.

 

Once a trailer has been totaled by an
insurance company you can still
put it on the road but it will have
a salvage or restored registration/title
and is not insurable for liability
or comprehensive coverage.

Jim

 

The title it is given and the different process you must go through to re certify it differs from state to state. Here in California its a Salvage title only and you must pass an official Brake and Lamp inspection (not a real safety inspection).

From Hagertys website:
"Cost of 15% of the vehicle’s comprehensive and collision premiums (if applicable) and is subject to change."

It's a good way to go IF you can qualify for insurance through Hagerty. I have 1 car with them, the others are regular insurance, since I don't own a new car and ALL get used as daily drivers (to work, grocery stores, earns, all the don't places).

 

At first it sounded good, but when I thought about it, it's not for me. At my age, one thing me or my kids DO NOT need is a totaled collector car.

 

Screw you! Get off my lawn!!!

 

I forget what type of car it was (think it was an x-frame Chevy), that a guy was bragging a few months ago on Facebook that he had an insurance policy that let him keep his car if it was totalled. He thought it was amazing. It's great if that's what he wanted. It wasn't a high-value car, but his insurance policy for that car was mid- 1,000s if I remember correctly.

He didn't want to hear that he was likely paying a huge extra amount for his collector car policy with that clause. It depends on the extent of damage, but sometimes it is just better to say goodbye.

I'd love to keep my stuff if the worst happened, but if it is too far gone and I've paid a huge amount for the privilege it's not that good an idea. Nice to see this as an option for those who want it though, sounds more affordable.

 

If I totaled my cherished car, I am not sure I could stand to see it and have to start all over again with it. I might had rather let someone else try to resurrect it.