Insurance cost and where????

[MAD IN NC]

for the last 5 years (day 1) been with the lizard.... at one time for up to 7 cars (3 collectable + FGT + kids/ wife DD).

After kids left and flew the nest and officially went on their own nickel, I moved the collectables over to Haggerty/ Infinity and pay 50% of the lizard fee's and only once a year with restored and insured "value" that is more beneficial to the collector versus the lizard vale of a collectable....

Two months ago I was left with the FGT, daily driver and wifes car on the lizard policy at ~$3k per year. I checked around and moved all three to Erie with same value/ coverage and pay only once a yr for $1,400 :thumbsup. To top that they (Erie) reduced my house insurance $600/yr and the umbrella was ~$200 less than what I had with the lizard.

Even in this backwards state of NC I was able to cut my annual rate in half, drop my home owners by 30% and still end up with a solid respected company. I now feel I've been abused for the past years of loyalty, a dumb ass for not checking every couple of years on the policy competitive rates and feel even more sorry for others that fund the lizard's TV career!

BTW - told the wife I would split the savings with her and I just bought a box of Opus X's to celebrate :biggrin

 

[HHGT]

Hmmm...is Allstate sub'ing this out for you? If not, I wonder if this changes from state to state?

I have all of my insurance, with exception to my collector cars, with Allstate. My agent said they wouldn't cover it with Allstate itself - and would sub it out.

I carry the Barrett Jackson insurance, which is brokered out, and I think is around $1,100 per year, 5k miles, stated value.

Allstate subs out for various things that we own. As an example, our main home is insured by Allstate but written by Chubb.

 

[GTRob]

wife DD

Wow the wife had Double D's and they are insured to boot!:banana They must be nice.:biggrin

 

[Infantryman]

Thanks for the endorsements Gents! Always more than happy to discuss rates with anyone on the Forum. Always glad to help on any insurance discussion even if we do not do business together.

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Just a heads up for USAA. I've been with then for 28 + years. They have been good with most things... The appraiser notice my GT in the garage, and asked what I thought it was worth. He kind of raised his eyebrows and said I should call the claims department and ask what they think it's valued is. I asked for an agree'd value policy for the car and they stated they did not do them. Was refereed to a company they use for this type of policy. The guy didn't even know what a GT was.

I also have been with USAA for more than twenty years and have always been happy with them. But finding this thread made me realize that the $900/year they quoted me for "market value" (which does not include mods) is not especially competitive. They could not tell me what that value would be, but I expect it would be at least $100K lower than the car's tuned market value, leaving me self-insured for the difference. Even worse, the third-party they directed me to when I asked about specified value coverage of $250K (which is not even close to actual "replacement" value, given everything the car has had added) they actually quoted $7000+ per year for $1K deductible. And get this, they then quoted that if I went with a 10% ($25K) deductible through them, they would lower the premium a whopping $400! LOL!

That conversation had me wondering how in the hell people actually justified collecting cars as an "investment." Apparently, the first key is finding the right insurance company!

 

[Cobraguy]

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I also have been with USAA for more than twenty years and have always been happy with them. But finding this thread made me realize that the $900/year they quoted me for "market value" (which does not include mods) is not especially competitive. They could not tell me what that value would be, but I expect it would be at least $100K lower than the car's tuned market value, leaving me self-insured for the difference. Even worse, the third-party they directed me to when I asked about specified value coverage of $250K (which is not even close to actual "replacement" value, given everything the car has had added) they actually quoted $7000+ per year for $1K deductible. And get this, they then quoted that if I went with a 10% ($25K) deductible through them, they would lower the premium a whopping $400! LOL!

That conversation had me wondering how in the hell people actually justified collecting cars as an "investment." Apparently, the first key is finding the right insurance company!

Alberta......agreed value....$2500 deductable......clean record......no mileage limitations...9 cars insured with them plus house,boat etc......$1300/yr with Legends Collector Car Insurance.