My Hagerty policy is up next month and I decided it would be a good time to rethink my coverage. I had my SV insured for a stated value of $7,000 and my spare parts covered for $5,000. The SV body is probably 'fair' at best, but the drive train (Chevy rod engine, lightened flywheel, OD transmission, 3:89 rear axle) probably increases its value, especially in the current market. Much of my "spare parts" are actually my S3 and SIV V6, which are both complete but in pieces. I had earlier seen something from Hagerty indicating they would cover unregistered project cars and figured this was the way to go for me.
So, here is the bottom line:
I don 't know why I never bothered covering the S3 and SIV, but if you have cars like that, it is probably well worth listing them on your policy.
So, here is the bottom line:
- I changed the stated value on my SV to $10,000
- I gave them the VINs and listed my S3 and SIV as 'vehicles under construction'
- I changed the spare parts coverage to $2500.
I don 't know why I never bothered covering the S3 and SIV, but if you have cars like that, it is probably well worth listing them on your policy.