Best insurance rates for these cars? Michigan owners in particular.

[DMS427]

I currently am using Hagerty and their prices seem pretty steep, especially if you have a couple of points. Have an 820 credit score but that still does not bail me out! I would be very interested to hear what you guys are paying for premiums for reference and if you could make any recommendations to a competitive provider.

Thanks, David

 

[Empty Pockets]

'Short answer is to contact some std, "brand name" companies (Safeco, etc.).

These's been mucho discussion on this topic here on The 'Forum, and rates discussed varied with co., locale, and TYPE of coverage ("stated value" vs. "agreed" and the like).

Last I checked, Safeco was charging me $377 for 6mo. for a std policy.

 

[DMS427]

Empty pockets,
Appreciated the quick reply...please tell me your kidding about that premium! $377.00 for six months... now I really feel like I'm paying too much.
Is that full coverage...theft collision etc? What is your deductable? Thanks again for the help.

David

 

[Empty Pockets]

Empty pockets,
Appreciated the quick reply...please tell me your kidding about that premium! $377.00 for six months... now I really feel like I'm paying too much.
Is that full coverage...theft collision etc? What is your deductable? Thanks again for the help.

David

Nope. Not kiddin'. That's the whole 9 yards. I THINK the deduct. was $500 if I remember correctly. 'Covered everything.

BUT! You have to remember, I'm not sixteen anymore...and 'no 'tickucks' on muh record.

 

[KMCBOSS]

2200/year with USAA, was paying 2400/year with Allstate.

 

[B O N Y]

Do a search
Many of us are with State Farm.
Much better rates than Hagerty and Grundy.
Cheers,
Daniel

 

[silver1331]

Hagerty

I am around $2300 with hagerty for the year with 1k deductible and 250/500 on everything. I have 1 speeding ticket 3 years ago and am single male under 30 so seems like its not a bad deal given your responses. 377 for 6 months seems ridiculously cheap, although i'd rather pay up a little more and have someone like hagerty who understands high-end cars insure me.

 

[Empty Pockets]

377 for 6 months seems ridiculously cheap, although i'd rather pay up a little more and have someone like hagerty who understands high-end cars insure me.

Compare policies and then decide. Don't assume paying more buys you more in this case. My GT's coverage 'written the same as the wife's "Bimmer" ( 'for you again, Chris!:biggrin) and all our other vehicles. Bear in mind Hagerty paying out $2,500 to fix repair "A" is the same as State Farm (or whomever) paying out $2,500. 'Same obligation.

The only place I can see where paying a bigger premium makes sense is for mutually agreed value coverage (stated value? - whatever the heck you call the, "this is what we agree is the dollar value we'll pay for a total loss", coverage). But, in today's GT market where the car's value has held anyway, I see no reason to pay extra for guaranteed value coverage that the used GT mkt has already guaranteed for you.

If the GT market prices crash, that'll be different.

'Just my $.02.

 

[RedGT]

I have Farmers and pay $418 for 6 months. I recently purchased a Gallardo and Farmers wouldn't cover it so went to USAA where I cover some other cars already. They charged me $851 for 6 months. Hagarty wanted almost $2500 for the same coverage with limited mileage. USAA doesn't have mileage restrictions. Not that I drive it a lot anyway, but it is nice not to have to watch it.

I also have a Saleen S281 Extreme that is painted Beryllium, which is a special order paint color. I was rear ended in a parking lot by a lady that also had Farmers. It did $1000 worth of damage, but Saleen will not release the paint codes and no one really wanted to try and match it. Farmers paid to transport the car back to Saleen in Troy. Saleen had trouble matching it also, and repainted the whole car under warranty. Terrific customer service by both companies.

In my opinion, I doubt I would have had any better results using Hagerty at over twice the price.

 

[B O N Y]

I have cars covered with Hagerty and Grundy. They are both excellent brokers who write for Chubb.

The FGT is with state farm.

 

[nthfinity]

Farm Bureau Insurance is a Michigan only insurer.. and may offer better deals then just about anybody because of that... worth a check anyway

my agent

 

[Empty Pockets]

In my opinion, I doubt I would have had any better results using Hagerty at over twice the price.

+1

 

[silver1331]

In my opinion, I doubt I would have had any better results using Hagerty at over twice the price.[/QUOTE]

Thats a fair point. i have fixed replacement cost. i shopped it around and hagerty was the cheapest or was only about $100 more expensive than farmers/state farm,etc. I have my other cars with farmers actually and they are great, its just that some people wouldnt insure the GT. If i could get insurance for $800 i would do it as long as they are a reputable source but that wasnt an option when i shopped it.

 

[fjpikul]

Many long posts about this as Bony said. State Farm treats me right, less than $1k/year full coverage, 7500 miles/year limitation.

 

[DMS427]

Thanks to everyone who has responded to my original post. Clearly, it is going to be worth making a few phone calls to some of the mentioned companies to compare these rates in detail.

Thanks again,

David

 

[B O N Y]

David,
Glad to help!
This is an amazing owner's site.

 

[snaproll]

$678/6 mo for SF in Florida for 500/500/500 w/bigger deductible - under 40, no felonies

 

[YoungCEO]

$1100.00 a year 500/500/500 unlimited miles with a $225,000.00 replacement value. I asked of the replacement value above to be in the policy, Farmers. 43 clean record

I spend over $500,000.00 a year with them on a business policy so I believe that helps.

 

[AJB]

I am with State Farm.

AJB

 

[Alex911]

A little off topic:

I work for an insurance company in Russia - and the rate that would be a market average to insuure the GT full cover with 500$ deductable would be something around
10 000$ per year - and it is not because we are making temendous profits - accident statistics are terrible over here. So with 2k/year - I envy you