I am surprised that Dan ran into a problem with Hagerty but they are growing
so quickly it is hard to have everyone on the same page. Hagerty has gone
from 72 employees 5 years ago to 300 today so growth has it's pains. I
have not had any experience with American Collectible so cannot comment on
them. In general, most companies specifically exclude coverage during any
racing events and have even tightened up the language to include "timed
speed events", which includes autoX. I have clients that drag race at club
events and autoX on a fun basis and tell them all the same thing: If you
wreck it ...you bought it so don't bother calling. If American Collectible
does allow autoX, then this might be an option for Tiger owners to look
into. One other issue that is very important, at least to me, is the age of
drivers that are allowed to drive the collector car. Most companies
specifically exclude coverage if a driver under the age of 25 drives the car
and an incident occurs. Grundy requires a signed and notarized statement
from the applicant that they are aware of the no-coverage limitation for any
under-25 age driver. I wrote a client with Hagerty this past summer that
had JC Taylor insurance for 24 years and just found out that their policy
excludes coverage for under age 25 drivers. He has a 19 year old
granddaughter, who of all things, likes to go to car shows with grandpa and
he let her drive on of his collector vehicles. Upon inquiring, he found out
that if she were to have an incident in his car, that it would not be
covered by Taylor. I have many clients that have sons and daughters that
grew up with dad's car hobby and accompany him to car shows and dad would
like for them to be able to drive the car to events. As far as I know, only
Hagerty and Condon & Skelly do not exclude the under-25 driver so, if this
is an important aspect of your decision, then you need to keep this mind.
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