Haggerty here...yeah, it's an annual fee...but...given all I've spent to get here I liked the fact they worked with me all the way through the "looking for insurance for my project car" discussion. My Diplomat is insured for $15K, that's agreed value, I had sent in the pics, detailed description, spoke on the phone several times, no issues, they understood what I was looking for, they reviewed all the info I sent in...my cost is $400/year.