Sad example of how poor attention to risk management will cost you. Millions of dollars of cars and no access to a water source? Amazing. The underwriter or loss control staff for whatever insurance company on this risk has some splaining to do, Lucy.
I haven’t seen any Classic Car/Antique car writer offer loss control assistance of any kind. Wonder how the owner of the handled his property insurance.
My largest risk with Hagerty has all of the cars stored in a single building…… all in a high hazard flood zone. No underwriting question about “what is the flood zone of the building where the cars are stored?” I can only assume that the Hagerty underwriting company has ample re-insurance and great geographic spread of risk. They are a great company do work with and do seem to understand this niche market.
I have been in those buildings. The only water source are the leaky roofs. Cars are shoehorned in there, many of them leaking oil or fuel. One stray cigarette and poof. Whoever insured that place is a moron.
Shame. There goes Hagerty’s loss ratio for the year.
Sad example of how poor attention to risk management will cost you. Millions of dollars of cars and no access to a water source? Amazing. The underwriter or loss control staff for whatever insurance company on this risk has some splaining to do, Lucy.
I haven’t seen any Classic Car/Antique car writer offer loss control assistance of any kind. Wonder how the owner of the handled his property insurance.
Was it Hagerty’s coverage? I’m surprised they would be that loose with something valued so high – oh wait you said Hagerty. Never mind….
My largest risk with Hagerty has all of the cars stored in a single building…… all in a high hazard flood zone. No underwriting question about “what is the flood zone of the building where the cars are stored?” I can only assume that the Hagerty underwriting company has ample re-insurance and great geographic spread of risk. They are a great company do work with and do seem to understand this niche market.
Appears to be many beautiful older cars crammed into a NON-SPRINKLERED building. They were sitting ducks. Irresponsible.
I have been in those buildings. The only water source are the leaky roofs. Cars are shoehorned in there, many of them leaking oil or fuel. One stray cigarette and poof. Whoever insured that place is a moron.