Insurance
09-08-2021, 01:46 PM
#31
Rennlist Member
Just wondering how you insure your car. My DD is with Geico and they did give me a quote that adds about $130 a month to my payment. And it is your general standard Geico type of insurance. I also got a quote from Grundy for an agreed value policy. It came in at about $1400 for a year....so that comes out to about $115 a month if you paid that way. SO the prices aren't really that different. What are the advantages or disadvantages of each? This car will not be a DD....as the Policy from Grundy will not allow that. Just curious how y'all do yours and why.
Thanks in advance
Thanks in advance
Even though I don't actually have the GT4 yet.
6-months of Full-Coverage is ............
POLICY COVERAGES AS FOLLOWS:
SEMI-ANNUAL
LIMITS PREMIUM
AUTOMOBILE LIABILITY 100/300/50 $84.76
MEDICAL PAYMENTS COVERAGE $5000 $4.80
COMPREHENSIVE $500 DEDUCTIBLE ACV $63.92
COLLISION $500 DEDUCTIBLE ACV $296.42
EMERGENCY ROAD SERVICE $0.99
R1 CAR RENTAL/TRAVEL EXPENSES 80%/DAY, $1000 MAX $15.69
UNINSURED MOTOR VEHICLE 100/300/50 $22.43
$200 DED ON PD
TOTAL OF 6 MONTH PREMIUM $489.01
SEMI-ANNUAL
LIMITS PREMIUM
AUTOMOBILE LIABILITY 100/300/50 $84.76
MEDICAL PAYMENTS COVERAGE $5000 $4.80
COMPREHENSIVE $500 DEDUCTIBLE ACV $63.92
COLLISION $500 DEDUCTIBLE ACV $296.42
EMERGENCY ROAD SERVICE $0.99
R1 CAR RENTAL/TRAVEL EXPENSES 80%/DAY, $1000 MAX $15.69
UNINSURED MOTOR VEHICLE 100/300/50 $22.43
$200 DED ON PD
TOTAL OF 6 MONTH PREMIUM $489.01
09-08-2021, 02:12 PM
#32
Burning Brakes
My Spyder is currently with State Farm, same agent I've had for 20 years now. They have been increasingly difficult over the years with claims... but frankly I'm paranoid to try any of the other options for fear it'll be the same. (The devil you know....)
I did get a quote from Hagerty for the Spyder. I know others who have made claims with them and it was literally ZERO hassle, they were great to work with. But holy crap they were 2.5x what my State Farm premium was.
I did get a quote from Hagerty for the Spyder. I know others who have made claims with them and it was literally ZERO hassle, they were great to work with. But holy crap they were 2.5x what my State Farm premium was.
09-08-2021, 02:51 PM
#33
Rennlist Member
@tigerhonaker Is that a bundle price (with house and/or other cars), or is that a standalone price?
TIA
TIA
09-09-2021, 12:05 PM
#34
Rennlist Member
@tigerhonaker Is that a bundle price (with house and/or other cars), or is that a standalone price?
TIA
TIA
Golf R .......... Yes
2021 GT4 ..... Yes
Plus probably 40-plus years with State Farm Agent.
Terry
09-09-2021, 04:50 PM
#35
I have been with Progressive for over 17 years now and have never had an issue with them. They bend over backwards to ensure we are happy when a claim goes through. I do think they screw up the models, though, as my Honda Civic SI, Subaru BRZ and 2014 Porsche Cayman S were all far too reasonable in terms of premiums, I thought. With the new car coming in, I am going to be a little more careful about what the premium cost entails in terms of coverage and value and ensure they have the exact model covered. With VIN numbers, you wouldn't think they could screw it up, though.
09-09-2021, 05:03 PM
#36
I just went with Progressive and I'm at 57 $'s a month for 500k liability and 245 deductible on collision with ACV.
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Paiceyfan (09-09-2021)
09-09-2021, 05:50 PM
#37
rates also heavily depend on where you live, how you park your car, etc.
09-09-2021, 06:47 PM
#38
Rennlist Member
I hope I'm wrong, but with some of the super low rates I see here I can't help but wonder if the car is under-insured. Like I mentioned earlier Progressive was only valuing my new GT4 at a little over $58k and the policy had a hard limit of $100k for maximum payout. You could get up to $150k by resorting to an agreed-value plan that became much more expensive. Please be sure to check what your coverage ceilings are, unless you are fine with self-insuring the remaining amount and/or going with liability only.
09-10-2021, 01:27 AM
#39
For the little difference, I would just get regular insurance so you have no limitations on how much you drive.
When I bought my 991.2, Liberty Mutual raised my rates to $12,800/year for that and my X3. No accidents no tickets. I dropped them like a hot potato and went with GEICO for a fraction of that amount. I have now priced Progressive and will change to them when my BGTS comes in. Their pricing is way better. All of the insurance companies raise rates over time in hopes of catching sleepy customers. In the case of Liberty Mutual, I shared the GEICO quote and they refused to back down. I had been with LM for twenty plus years and never had a claim, both homeowners and auto. I now know to check back in every few years and understand that loyalty is irrelevant for both customer and provider.
When I bought my 991.2, Liberty Mutual raised my rates to $12,800/year for that and my X3. No accidents no tickets. I dropped them like a hot potato and went with GEICO for a fraction of that amount. I have now priced Progressive and will change to them when my BGTS comes in. Their pricing is way better. All of the insurance companies raise rates over time in hopes of catching sleepy customers. In the case of Liberty Mutual, I shared the GEICO quote and they refused to back down. I had been with LM for twenty plus years and never had a claim, both homeowners and auto. I now know to check back in every few years and understand that loyalty is irrelevant for both customer and provider.
09-10-2021, 07:52 AM
#40
Instructor
Great topic, which was missing from the forum.
09-10-2021, 07:55 AM
#41
RL Community Team
Rennlist Member
Rennlist Member
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Dan Nagy (09-10-2021)
09-10-2021, 11:03 AM
#42
Burning Brakes
Thread Starter
I think what I get from this thread is one should go with insurance that offers agents. With The Geicos and Progressives of the world you are likely talking to a minimum wage worker that is just educated enough to get you insured. They likely have no clue what the valuation process is if when a total loss payout occurs. They may tell you something but I would not go on their word. A dedicated agent with somebody like State Farm would be a little more in tune about how the process really works. I do some of my stuff through state farm and have had an agent for a long time. I will call him or go pay him a visit and see what he says.
09-10-2021, 11:14 AM
#43
Rennlist Member
I think what I get from this thread is one should go with insurance that offers agents. With The Geicos and Progressives of the world you are likely talking to a minimum wage worker that is just educated enough to get you insured. They likely have no clue what the valuation process is if when a total loss payout occurs. They may tell you something but I would not go on their word. A dedicated agent with somebody like State Farm would be a little more in tune about how the process really works. I do some of my stuff through state farm and have had an agent for a long time. I will call him or go pay him a visit and see what he says.
I’ve concluded that State Farm is in a slow process of marginalizing the agents and centralizing more and more functions. Seven years ago, the only people I could speak with were in the agents office. Now it’s rare for a call to be connected to the agent’s office and more often than not, they can’t really help. Years ago, the agent could handle an issue that arose with a claim. Now they just say “that’s claims” and you’ll have to talk to them. I think we are all somewhere on that curve of diminishing utility from the agent. For me the value of the agent has fallen to just about zero.
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flynlo (09-10-2021)
09-10-2021, 11:16 AM
#44
Burning Brakes
Hire a quality company
Buy an agreed policy from a quality insurance company.
Geico and Progressive are terrible insurance companies for someone who cares about their car. You’ll be forced to have used/aftermarket parts installed, damaged parts repaired rather than replaced and you’ll have a major dispute when you have a total loss.
Collector car policies such as Grundy rarely make sense for a modern daily driver and if they cover daily use you’ll be overpaying. These companies are just not suited to provide coverage for modern cars.
Geico and Progressive are terrible insurance companies for someone who cares about their car. You’ll be forced to have used/aftermarket parts installed, damaged parts repaired rather than replaced and you’ll have a major dispute when you have a total loss.
Collector car policies such as Grundy rarely make sense for a modern daily driver and if they cover daily use you’ll be overpaying. These companies are just not suited to provide coverage for modern cars.
Last edited by SKM; 09-10-2021 at 11:21 AM.
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AlexCeres (09-10-2021)
09-10-2021, 11:27 AM
#45
Burning Brakes
Thread Starter
So your choices are either a "regular policy" with the "legacy" incurance companies. Or an agreed value(collector) policy by someone like Grundy. So far on this thread, the only agreed value mentioned by one of the legacy companies was the one Stormrune mentioned....and it was $400 a month.