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Heacock Classic Car Insurance Review

BravoDollar Editor rating:

Summary: 

Heacock Classic Insurance began offering collector car insurance in 1989 and now services 48 states.  It is owned by Heacock Insurance Group, a full-service insurance agency founded in 1922. The company provides consumers with personally tailored specialty insurance for antique, classic, collectible, and exotic collector vehicles.  American Modern Insurance Group is Heacock’s lead underwriting carrier. Another underwriting carrier that the company works with regularly is Infinity Insurance. Heacock offers motorsports insurance in their event and show insurance category to fully cover motorsports events.

Pros:

  • The company’s main underwriter, American Modern Insurance Group, has an A+ rating from A.M. Best for financial strength.
  • Heacock offers coverage for motorsports event and car shows
  • Heacock offers a no appraisal policy for no hassle evaluation of your vehicle when its value appreciates.
  • The company offers roadside assistance with a guaranteed flatbed.
  • Policyholders can drive their vehicle for pleasure up to 6000 miles annually.
  • Policyholders can use the repair shop of their choice if they have a claim
  • Zero deductible – most policies have full coverage with a zero-dollar deductible.
  • $50,000 coverage for newly acquired classic cars for 30 days automatically
  • Insurance during restoration – your vehicle is fully covered during restoration at no additional charge.
  • Heacock Insurance Group is rated an A+ by the Better Business Bureau although the company is not accredited by the BBB.

Cons:

  • Heacock’s requirement that potential policyholders have a clean driving record is more stringent that other companies.
  • Information regarding Heacock’s claims satisfaction rating is not readily available.

Heacock insures collector cars, classic and antique cars, modern collector cars, muscle cars and hot rods, exotic and sports cars, tribute and replica cars, and vintage race cars.  To qualify for coverage, you must be at least 25 years old. All drivers over the age of 25 in the household must have their own daily use vehicle. Furthermore, you must have a traditional auto insurance policy.  Moreover, the applicant cannot have more than one minor violation or accident in the last three to five years and no major violations within 7 to 10 years. This requirement is a bit more stringent that the good driving record requirement that a number of other collector car insurance companies have.

What Makes Heacock Classic Car Insurance Unique?

Heacock Classic Car Insurance provides insurance coverage for vintage race cars used by independent racers.  The company has a storage, transit, and padlock (STP) policy, that ensures that your car is insured against physical damage until its tires hit the track.

Furthermore, Heacock offers Event and Show coverage that includes motorsports event coverage.  The list of coverage options in this category is extensive and is designed to fully cover your motorsports events and auto shows.

>>MORE: Find the Best Car Insurance for Classic Cars

How Much Does Heacock Classic Car Insurance Cost?

One of the main factors that consumers consider about an auto company when they are shopping for car insurance is the company’s premium rates.  This is true even for collector car enthusiasts. You want to insure your prized possession at a reasonable rate. The way that car insurance rates are determined by collector car insurance companies differs slightly due to the fact that these cars are not driven regularly, drivers are required to have a certain amount of driving experience, and a nearly clean driving record is often mandatory.  

To get a quote from Heacock, you can go to their website and use their “get a quote” tool.  You can also call 1-888-351-2979 to get a quote by phone. 

Here is an example of Heacock’s rate on a 1958 Cadillac Eldorado Seville with 6,358 miles on it and an estimated value of $67,900.00 with an annual mileage plan of 3,000 miles:

  • For $1000 deductible collision
  • $1000 Deductible other than collision
  • $100,000/ $300,000/ $100,000 Bodily Injury Liability and Property Damage Liability
  • $50,000/ $100,000 Uninsured Motorist Coverage
  • $10,000 Medical Payments
  • $2000.00 Spare parts

Heacock quoted an estimated annual premium rate of $510 (which includes a good driver discount).  Without the good driver discount, the company’s estimated annual premium rate is $637.

For the same vehicle with the same parameters and an agreed value of $77,900 and $1000 deductible collision and a $1000 deductible other than collision, the estimated annual premium rate increases to $555 with the good driver discount and $693 without the good driver discount.

Heacock Classic Insurance vs. Condon Skelly: Which is more expensive?

In comparison, Condon Skelly’s rate for the aforementioned vehicle with a $67,900 agreed value is as follows:

  • For $1000 deductible on collision 
  • $1000 deductible on other than collision
  • Including liability coverage
  • $1000 electronic equipment coverage
  • Roadside assistance 
  • $1000 Spare parts
  • $500,000 Bodily Injury/ Property Damage limit
  • $10,000 Medical Payments
  • $3,500 Uninsured Motorist Property Damage coverage
  • $100,000 Uninsured/Underinsured Motorist Bodily Injury

Condon Skelly quoted an estimated annual premium of $335.08

Thus, even with a higher liability limit, Condon Skelly still beat Heacock’s rate by $200.  Condon Skelly is one of the most competitively priced collector car insurers.

Discounts

Other than a good driver discount, the company does not discuss discounts on its website, and you should get in contact with an agent or representative of the company to find out what discounts they offer and which ones you qualify for.

Claims Satisfaction

An auto insurance company’s claims satisfaction rating is very important to ensure policyholders that the company will be there for them should they need to file a claim.  Claims satisfaction ratings for collector car insurance companies are difficult to find; however, Heacock Insurance Group has been in business for over 39 years and does not have any complaints filed against it with the Better Business Bureau.

How easy is it to file a claim with Heacock Classic Insurance?

  • To file a claim, you can call 800-274-1804
  • You can also file a claim directly with the insurance company by calling
    • American Modern Insurance Company 800-375-2075
    • Infinity Insurance Company 800-334-1661 (Existing claims status:  800-458-4461 ext. 2534.)

Coverage Options

Heacock offers a wide array of coverage options to help protect your vehicle.

Included Coverage

  • One liability charge – the company only charges you once for liability coverage no matter how many vehicles you have in your collection.
  • Bodily Injury Liability and Property Damage Liability
  • Automatic $50,000 coverage for newly acquired cars.
  • Roadside assistance with a guaranteed flatbed
  • $2000 spare parts coverage
  • Agreed Value coverage
  • Uninsured Motorist Coverage
  • Medical Payments

These coverage options are a little less extensive than with a number of other collector and classic car insurance companies. However, Heacock insures a greater selection of cars, including modern classics, whose value will appreciate over time.

Other Insurance

In addition to insuring a variety of different types of collector and classic vehicles, Heacock Classic Insurance also offers Event and Show Insurance.  The company states that its Motorsports division offers a full array of commercial insurance products to protect your team, your special events, your club, and yes, your race cars.  The company offers car club liability, event insurance, motorsports insurance, commercial insurance, and MCA Regional Club Liability Insurance. In fact, if you hold motorsports events, the company has a wide range of coverage to fully cover your event, facilities, and people.

The Bottom Line

  • Heacock offers collector car insurance at rates that are slightly higher than its competitors.  Furthermore, the company requires that potential policyholders have a very clean driving record which may preempt some people from qualifying for coverage.
  • The best feature that Heacock offers is its Events and Shows coverage which features a full array of Motorsports coverage options.  Furthermore, the company insures vintage race cars.
  • The company insures modern collector cars, something that many other collector car insurance companies do not do.
  • Furthermore, Heacock insures vehicles for agreed value, with a zero deductible, and one liability charge.  
  • The company also boasts that it has less stringent usage requirements that other similar companies.
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