Insurance?

[Empty Pockets]

Uh-oh!

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.

So, whatchur tellin' me pretty much is: thesehere peoples ...fellow Forum members ... fellow "go fast" addicts ... fellow gearheads ... dunn screwed up muh perfeck plan tuh combat higher rates afore I even dunn
come UP with it by committin' an anti-social, non-"P.C." act of blatant self indulgence to which they won't fess up ????? 'Zat pretty much it?:eek

Well - a POX on doze guys den!

'Guess it's back to the ol' drawing board...:shrug

"Perfec Pockets"
t

 

[fjpikul]

Whoa, whoa whoa! You naysayers are complaining about something that hasn't even happened yet. Remember, DBK is still pretty young, still single, and doesn't have a fleet of cars or house to insure yet. I'm guessing when Dave gets hooked like the rest of us, his will go down too.

 

[dbk]

But good Dr Pickle, the only thing that changed in the DBK equation is that I got older. If my insurance was low when I first got it, I see no other reason it would leap a year later.

 

[fjpikul]

Tie the knot, move into the loft, get some life, disability and long term care policies, and see what your agent does for you. Your total will be higher, but each individual policy will be cheaper. You can always raise your deductible.

 

[barondw]

Like insurance companies really want to insure cars with 600-700 rwhp.

Dave

 

[B O N Y]

Like insurance companies really want to insure cars with 600-700 rwhp.

Dave

Dave,..........shhhhhhh!
stop bring logic and reason to the table.
:rofl :rofl :lol :rofl :rofl

 

[BlackICE]

Like insurance companies really want to insure cars with 600-700 rwhp.

Dave

They would be more than happy to insure them for the "proper" premiem, lets say 50% of MSRP.

BlackICE

 

[TEXAS GT]

It's funny this thread got started agiain today because I just got off the phone with my agent pricing insurance for my second GT. I'm with Parrish-Heacock and my rates are going to be about the same as last year was on my '05. No real increase. I shopped around quite a bit last time and they were the best I could find for my state and the limits I require.

Maybe it's because Mr. Ford Heacock III just bought a new Speed Yellow with black stripes himself. I suggested Mr. Heacock join the forum as a sponsor. He could be a valuable ally in the insurance wars.

On another note, I think we should define "stated value" as opposed to "agreed value" insurance. My agent explained that late model cars like ours are not eligible for "agreed value" which means if it is totaled or stolen they pay you whatever the amount you originally insured it for. They only offer "stated value" which means that in the event of a total loss they will research the fair market value of the car at that time and pay you that amount. It might be what you paid for the car or less depending on availability and demand. Realistically I would expect to get less than I paid. The upside to this is that the premium is less (supposedly) for stated value. I have agreed value on my vintage cars but can't get it on the GT's.

Just remember that every company and every state and every individual is different. This is not a case where you can compare apples to apples very easily.

 

[Sinovac]

On another note, I think we should define "stated value" as opposed to "agreed value" insurance. My agent explained that late model cars like ours are not eligible for "agreed value" which means if it is totaled or stolen they pay you whatever the amount you originally insured it for. They only offer "stated value" which means that in the event of a total loss they will research the fair market value of the car at that time and pay you that amount. It might be what you paid for the car or less depending on availability and demand. Realistically I would expect to get less than I paid. The upside to this is that the premium is less (supposedly) for stated value. I have agreed value on my vintage cars but can't get it on the GT's.

I have agreed value coverage on my GT through Hagerty-$160k. It is my understanding the GT is one of the few late model cars they insure like this.

 

[B O N Y]

I have agreed value coverage on my GT through Hagerty-$160k. It is my understanding the GT is one of the few late model cars they insure like this.

When I was with Grundy I had agreed upon value, I now have stated value with State Farm.

 

[barondw]

They would be more than happy to insure them for the "proper" premiem, lets say 50% of MSRP.

BlackICE

Maybe depending upon actual crash rate.

Dave

 

[barondw]

On another note, I think we should define "stated value" as opposed to "agreed value" insurance. My agent explained that late model cars like ours are not eligible for "agreed value" which means if it is totaled or stolen they pay you whatever the amount you originally insured it for. They only offer "stated value" which means that in the event of a total loss they will research the fair market value of the car at that time and pay you that amount. It might be what you paid for the car or less depending on availability and demand. Realistically I would expect to get less than I paid. The upside to this is that the premium is less (supposedly) for stated value. I have agreed value on my vintage cars but can't get it on the GT's.

You are correct with the following exception. Grundy, Haggerty, and other collector car insurance specialists insure on an agreed to price meaning your premium is based on that number. If something happens and the car is stolen and never recovered or totalled that is what they pay. But they are not general insurance companies and have onerous restrictions such as mileage limitations.

Also the GT is one of the few late model cars, meaning less than 3 years old they will insure, as posted.

Dave

 

[B O N Y]

You are correct with the following exception. Grundy, Haggerty, and other collector car insurance specialists insure on an agreed to price meaning your premium is based on that number. If something happens and the car is stolen and never recovered or totalled that is what they pay. But they are not general insurance companies and have onerous restrictions such as mileage limitations.

Also the GT is one of the few late model cars, meaning less than 3 years old they will insure, as posted.

Dave

Your correct, Grundy wrote me through Chubb with no mileage restrictions.
Big deal, my car was a year old in June and I have 2000miles on it:wink

 

[dbk]

One other thing I should note, I've been insured through the same agent for the Z06 I had for the previous four years, and the C5 Vert I had before that with nothing but constant or decreasing rates. Clearly, for me at least, this raise is an anomaly.

 

[scylla6]

I've got Harrerty, which is great for my other cars but expensive on the GT, I think 2500 a year or so. What are all you guys paying?

 

[TEXAS GT]

I've got Harrerty, which is great for my other cars but expensive on the GT, I think 2500 a year or so. What are all you guys paying?

A little over $2000 per year, but as I said earlier, there are too many variables to compare one owner to another. The state you live in, the town, the deductible, your limits, your age and driving record, other covered drivers in the household, etc. etc. Just have to do your research to find your best deal.

 

[dbk]

That's where I was at before. A little over 2k a year.

 

[FlorIdaho Chris]

Except for my daily drivers I have all my cars insured with Hagerty. No increase on the GT when I renewed last month. They are insuring several late model cars for me, all at Agreed Value.

 

[Empty Pockets]

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.

Welllllllllllll ... I just got my ins renewal notice ...and my premium DROPPED a whopping $1.10 !!!!!

'Not kidding! It's gone from $377.OO (for 6 mo) to $375.90!:shrug

Now, that's "stated value", mind you. Not "agreed".

E.P.

 

[fjpikul]

Just got mine today from State Farm. Went down a couple bucks to $472 for 6 months. DBK, who did you piss off?