Value Added- Back to the Basics
The Value Added Premium & Ultimate Endorsements are available in these provinces and at this cost
BC, NB, NS, ON
Value Added Premium: $30
Value Added Ultimate: $50
Covers items featuring the name and/or logo of a collector vehicle’s make or model.
Such items may include clothing, accessories or other collectables associated with the described automobile.
Manufacturer Branded Merchandise
This endorsement provides additional coverage in the event of a total loss or constructive total loss
The insured retains salvage rights, and gets to keep the vehicle in addition to receiving the full guaranteed value.
The Cherished Salvage Endorsement
Worried about market values increasing.
Unsure what the vehicle is worth.
Value requested is higher than HVT values.
Making vehicle improvements.
Member under valuing their vehicle.
Market Value Protection- Automatically pays up to 125% of the Guaranteed Value if a vehicles market value has increased
Member mentions they like to go on 1-2 trips and attends multiple car shows & events each year with classic.
HDC: Roadside/ towing and Member VIP experiences
VAP/U: car show expense reimbursement as a result of a loss to or mechanical breakdown of a covered vehicle. Personal effects or manufacturer branded merchandise
In the event of a total loss this feature Automatically pays up to 125% of the Guaranteed Value if a vehicles market value has increased at the time of the loss
Market Value Protection
Covers tools and portable equipment used in the maintenance of described automobiles. This also includes:
• Portable carts or cases used to store covered tools
• Accessories for covered tools whether attached or not.
Automotive Tools Coverage
This endorsement provides:
$15,000 in additional Coverages
Increased automatic new ride coverage to $500K
125% Market Value Protection
Value Added Premium
Restoring Vehicle
Tinkers on vehicle or does work themselves
Refers to garage as "shop" or "workshop"
Mentons extra parts or tools
Spare parts & automotive tools coverage
Member mentions they are restoring vehicle and hopes the vehicle is drivable by next spring.
HDC: Ask Hagerty Experts, Towing/roadside coverage
VAP/U: Spare parts and automotive tools coverage
*Bonus: Vehicle Under Construction Endo
This feature covers new collector vehicles up to the lesser of the following:
-purchase price of the newly acquired vehicle
-the vehicles verifiable value
-the value of the highest insured vehicle on the policy
-a maximum of $500K (premium) or $1 Million (ultimate)
Enhanced Automatic New Ride Coverage
Coverage includes items usually carried by tourists and travelers, which you own and use or wear, while temporarily located in the vehicle.
These do NOT include:
• Equipment, spare parts, or automotive tools;
• Accounts, bills, cheques, credit or debit cards, currency, deeds, documents, evidences of debt, gift cards or certificates, letters of credit, money, notes, or securities;
• Portable digital or electronic devices, cell phones, or laser or radar detection devices, including their accessories
• Tapes, disks or other media used with equipment described immediately above.
Coverage for Personal Effects
Premium: $1,500 / Ultimate: $2,500
This endorsement covers the members expenses while moving a covered vehicle from an area experiencing emergency conditions
Hagerty will pay 50% of expenses (includes storage and towing)
Covers up to $250 per vehicle per occurrence with an annual cap of $1,000 per vehicle
Cost is $5 per vehicle
The Evacuation Expense Endorsement
Mentions covering vehicle.
Describes vehicle as being a “garage queen”.
Member says vehicle gets "tucked in" or "covered up" or "undercover" while stored.
$1500 or $2500 Car Cover coverage
The member mentions this was his father's vehicle he owned since new and was passed down to him after he passed away.
Member is new to classic vehicles and wanting to get into the hobby & learn about the vehicle but he is unsure of value or where to start on properly covering vehicle.
HDC: Ask Hagerty Experts, HVA tool, Magazine/VIP experiences.
VAP/U: Market Value Protection, coverage for vehicle valuable papers.
Bonus: Cherished Salvage Endo
Value Added Premium offers $15,000 in additional coverages... Name 5 out of the 9 additional coverages included in VAP's $15K of additional coverages
$1,500 Spare parts coverage
$1,500 coverage for automotive tools
$1,500 coverage personal effects
$1,500 coverage for vehicle valuable papers (subject to a $25 deductible)
$1,500 coverage for accidental deployment of an airbag
$1,500 vehicle lock coverage
$1,500 for car covers
$1,500 coverage for manufacturer branded merchandise
$1,500 for car show expense reimbursement as a result of a loss to or mechanical breakdown of a covered vehicle
$1,500 for post-loss vehicle trailering
We will pay, without application of a deductible, up to $1,500/$2,500 per occurrence for a loss to keys for the Described Automobile. This coverage includes:
a) the cost to duplicate or replace lost or stolen keys;
b) the labour costs to retrieve keys accidentally locked in the Described Automobile; or
c) the cost to re-key the vehicle locks when the keys are lost, stolen, or the Described Automobile is stolen and then recovered
Vehicle Lock Coverage
This endorsement provides:
$25,000 in additional Coverages
Increased automatic new ride coverage to $1 million
125% Market Value Protection
Up to 90 days limited International physical damage coverage
Value Added Ultimate
Member mentions has all original documentation or owners manual.
Has supporting documentation authenticating vehicle history.
Extensive build sheets or engine reports.
coverage for vehicle valuable papers (subject to a $25 deductible)
Member mentions they are looking to purchase specific car to add to their collection but is having a hard time locating. Willing to travel to purchase dream car.
HDC: Ask Hagerty- Help locate vehicle & roadside assistance- if driving vehicle back.
VAP/U: Automatic coverage for new collector vehicles up to the lesser of the purchase price of the newly acquired vehicle, its verifiable value, the value of the highest insured vehicle on the policy,
Ultimate: Limited international Physical Damage Coverage, up to the limit shown on the Certificate of Automobile Insurance for the Described Automobile, up to 90 days
These are the two coverages that are only available on the Value Added Ultimate endorsement and are NOT included in the Value Added Premium endorsement
Limited international Physical Damage Coverage, up to the limit shown on the Certificate of Automobile Insurance for the Described Automobile, up to 90 days (does not apply in Mexico or in any country that has economic and/or trade sanctions imposed by the government of Canada)
&
$500 for emergency evacuation expense coverage
Covers temporary expenses incurred by members for transportation, lodging and meals in the event of direct and accidental loss to or mechanical breakdown of the Described Automobile while enroute to or from, or while attending Collector Vehicle events;
b) unrecoverable, pre-paid expenses for Your attendance at Collector Vehicle events, such as pre-registration fees.
This coverage applies only if:
a) the loss to or mechanical breakdown of the Described Automobile occurs more than 80km from its usual garaging location; and
b) the Described Automobile is withdrawn from use for at least 24 hours.
Car Show Expense Reimbursement
This endorsement was created to protect members who are working on a restoration project. The value of the vehicle should be determined by current condition, not restored condition
What's included:
Increases the value by 10% each quarter (compounded)
ONLY takes effect in the event of a claim during the policy year
We will not pay more than $25k above the amount stated on the dec page
Cost is $25 per vehicle per year
The Vehicle Under Construction Endorsement
Attending or traveling to Car Shows.
Takes a trip or vacation with the vehicle.
Memorabilia, fondness for a particular make /model, seen in a photo from the member.
Car show expense reimbursement as a result of a loss to or mechanical breakdown of a covered vehicle
&
Personal Effects & manufacturer branded merchandise Coverage
Member quoting 3 vehicles: He enjoys buying project cars, fixing them up in his spare time and driving them for a summer or two before selling and getting into next project.
HDC: Ask Hagerty- find parts or shops or locating next car, Towing/roadside, HVA- accurate prices for buying/selling.
VAP/U: Automatic coverage for new collector vehicles, Market Value Protection, Automotive tools, Spare parts.