Insurance?

[dbk]

Just an advance warning, I'm assuming it's because so many GT's were smacked into trees, poles, or bashed into walls, but the insurance on my GT went up next year. Way up. Like 60% up. Nothing else changed but the bill, so that's what it seems like is going on because I've got zero claims and no *new* infractions :lol

I'll probably look into insurance with one of the collector oriented companies come spring because the cost now is a bit ridiculous.

 

[PL510*Jeff]

Rate Increase

Odd that the insurance comapanies re-rated the GT. My insurance company "declined to re-new due to the value of the GT exceeding policy limits of their coverage". Polite way of saying they didnt want to provide coverage. Talking to others in the insurance industry no one had ever heard of a copmany using that language before.

Had to find a new carrier for the GT and 4 other vehicles. At about 50% more expensive for the GT. The word must be out on accident cost to repair.

DBK you're not alone.

Jeff

p.s. now that your pm box is "less" full, get back to me.

 

[prmoldoaks]

My insurance here in the UK for the GT fully comprehensive is approx $1200, thats for unlimited millage and full eurpoean coverage.

 

[B O N Y]

duh... I have been posting about that all along. I will be going back to Grundy,...if I can.

 

[gtjoey]

DONT WORRY ITS A FACT AFTER MARRIAGE,CHILDREN AND A MINIVAN YOUR RATES WILL GO DOWN 80% GUARANTEED :biggrin OR ANOTHER WORDS YOUR DEAD!!!!:biggrin GTJOEY 1314 P.S. IF YOU MAKE IT TO 40 THEYLL ACTUALLY PAY YOU!!:biggrin

 

[Empty Pockets]

insurance

'Insurance premium for my GT was the biggest shock about the purchase. It came to a whopping ... $377! Full coverage for 6 mo (6 mo. is the std way these guys have always billed policy holders).

'Not a misprint! I was fully expecting $1,200 to $1,500 MINIMUM. And I don't have a buncha speeding tickets, etc., either.

SO! Go "figger"!

I gave the 'company the GT's Vin #, model name, the "sticker" price - EVERYTHING ... so, there's no way they 'kudda' POSSIBLY thought it was a Mustang. ( And, if they DID ...well...)

I intend to switch to "agreed, stated value" coverage thru one of the "exotic specialty" companies next spring to cover my butt against the automatic, built in, "value depreciation" a std. ins. policy always throws into the mix. THAT policy will pbly cost me upwards of ... oh ... I don't know ... 'say, $395 at least!:bs

E.P.

 

[B O N Y]

'Insurance premium for my GT was the biggest shock about the purchase. It came to a whopping ... $377! Full coverage for 6 mo (6 mo. is the std way these guys have always billed policy holders).

'Not a misprint! I was fully expecting $1,200 to $1,500 MINIMUM. And I don't have a buncha speeding tickets, etc., either.

SO! Go "figger"!

I gave the 'company the GT's Vin #, model name, the "sticker" price - EVERYTHING ... so, there's no way they 'kudda' POSSIBLY thought it was a Mustang. ( And, if they DID ...well...)

I intend to switch to "agreed, stated value" coverage thru one of the "exotic specialty" companies next spring to cover my butt against the automatic, built in, "value depreciation" a std. ins. policy always throws into the mix. THAT policy will pbly cost me upwards of ... oh ... I don't know ... 'say, $395 at least!:bs

E.P.

Dear E.P.
I started with Grundy, saw some posts here about how cheap StateFarm is, went to them because they write my street rides. I am expecting a major increase because over 300 GT's have been crashed already. Every writer of insurance will know that the GT has been red flagged... end of story.
Just a fact of life.
Cheers,
daniel

 

[Empty Pockets]

Dear E.P.
I started with Grundy, saw some posts here about how cheap StateFarm is, went to them because they write my street rides. I am expecting a major increase because over 300 GT's have been crashed already. Every writer of insurance will know that the GT has been red flagged... end of story.
Just a fact of life.
Cheers,
daniel

Bony - YUR A REAL DOSE OF ICE WATER!!!!!!!:lol

Yup. That's the way I see it too.:bang

E.P.

 

[B O N Y]

Bony - YUR A REAL DOSE OF ICE WATER!!!!!!!:lol

Yup. That's the way I see it too.:bang

E.P.

sorry E.P., everybody needs to make money. fact is ford build 4038 cars and
many have been bought by folks that never drove anything like a GT.
lots of blue oval fans now own a GT.

if you look at the p/l sheets of insurance companies you will not they are not money making machines.

the problem I forecast is that based on the first year's loss rate they will
not calculate correctly their future exposure.

well, we are in for the ride. for those of us that have mutiple cars in our collections we will have a point to start our 'beg.'

 

[ROCMAN]

Dear E.P.
I started with Grundy, saw some posts here about how cheap StateFarm is, went to them because they write my street rides. I am expecting a major increase because over 300 GT's have been crashed already. Every writer of insurance will know that the GT has been red flagged... end of story.
Just a fact of life.
Cheers,
daniel

That sux! I am with StateFarm also. My coverage is like $1200 per year right now. Oh Well!

 

[Empty Pockets]

sorry E.P., everybody needs to make money... for those of us that have mutiple cars in our collections we will have a point to start our 'beg.'

The "multiple cars" bene a guy has with "Company X" kinda goes down the tube though when one needs to go to, say, Grundy, for "stated coverage" ...'cause as far as THEY'RE concerned - yuh just gots ONE CAR with THEM.

I do have the "multiple" thing going on right now ... in fact, they've had to start ANOTHER policy aside from the one I already had because there were too many cars on it. ('Makes no sense to me ... the total # of cars IS whatever it IS regardless...but, anyway...)

What's the reason YOU decided on Grundy? (Excuse us, folks ....talk amongst yurselves here fer a second while we hog the thread!:bow)

E.P.

 

[427Aggie]

Dave what company are you with? I've been with Statefarm for years and they have covered everything of mine without issue. The first quote I got on the GT was something like $4000/ yr and I called my agent and told him to fix it. Right now I think I pay about $1400/yr and thats a stated policy...can't wait to see if they try to mess with it.....guess I will have to move my toys somewhere else and just leave the daily with SF.

matt

 

[B O N Y]

se us, folks ....talk amongst yurselves here fer a second while we hog the thread!:bow)

E.P.

I have my collection with Grundy, they are good as are:
Parrish
American Collectors
Hagerty

Grundy knows what I have and I have zero claims, so I will go back to them, if as expected STATEFARM rates the GT.

 

[Empty Pockets]

I have my collection with Grundy, they are good as are:
Parrish
American Collectors
Hagerty

Grundy knows what I have and I have zero claims, so I will go back to them, if as expected STATEFARM rates the GT.

Grundy, et al, will undoubtedly ALSO hike their rates 'same as S.F. or whomever ... and for the same reason. So, there won't be "no" escapin' it no matter where/how we go regardless...

"If yur gunna PLAY, you gotta PAY".:skep

Thanks for the list, Bony. "Parrish" & "Am. Collectors" I'd never heard of.

Okay folks! We be dunn! "All Skate" time on th' thread again!!!!!:biggrin

E.P.

 

[SLF360]

Thanks for everybody crashing theirs! How about learning to drive first !!!?
:mad :bang :bang :skep

 

[dbk]

Thanks for everybody crashing theirs! How about learning to drive first !!!?
:mad :bang :bang :skep

Happens with all the high-hp cars. Especially the ones without TC like the GT and Viper. They can bite even the best sometimes, but I can just see people who have driven 240hp cars their whole life saying "watch this" :lol before they end up wrapped around a tree.

 

[dbk]

duh... I have been posting about that all along. I will be going back to Grundy,...if I can.

I know. Now I just have proof.

 

[Empty Pockets]

Hummmmmmmmmm ...

Just an advance warning, I'm assuming it's because so many GT's were smacked into trees, poles, or bashed into walls, but the insurance on my GT went up next year. Way up. Like 60% up.

I'll probably look into insurance with one of the collector oriented companies come spring because the cost now is a bit ridiculous.

Do you think this Forum - applying as a GROUP - might be able to get a "gooder" rate with wunna these outfits??? ('Coarse, we'd have to dump GTJOEY first!!!!!:rofl :rofl )

'Just a thought. ( I get these 'episodes' every once in a while...)

E.P.

 

[dbk]

The forum has had more than one member destroy their cars as well. I don't think any of the members I know who've done so have made that information public. Unfortunate, but it happens.

 

[B O N Y]

Do you think this Forum - applying as a GROUP - might be able to get a "gooder" rate with wunna these outfits??? ('Coarse, we'd have to dump GTJOEY first!!!!!:rofl :rofl )

'Just a thought. ( I get these 'episodes' every once in a while...)

E.P.

Nope, that has been explored to no end by lots of car groups.

If every member of the forum agreed, and that would be like herding cats,
we still would not have clout/impact.

Self insured... Basically, if I came to you and said, insure me with limits of say $300/$500 on my car with an agreed upon value of $170k how much would you charge me? You wouldn't touch me with a ten foot pole even though I have never had a claim. The reason is simple, your exposure is $970k for what, a $2k premium per year?
Now if you have thousands of insured you can spread the risk.