Insurance
09-10-2021, 12:00 PM
#46
RL Community Team
Rennlist Member
Rennlist Member
What people “pay” is pretty meaningless as each circumstance is as unique as DNA.
Most of the technical questions can be answered by examining the policy itself, it’ll spell out in detail the process. Ask for a copy and read the fine print yourself.
You’ll find most calls just go to a call center so don’t expect any help beyond a simple quote.
A worthy discussion is how companies service customers and handle claims.
I’ve only ever totaled one car. My insurance company paid “market” value and sent me a large package on the analysis. We dickered on “condition”—I had pictures—and unique options and found an agreeable settlement.
I’ve looked at “collector” or agreed value insurance and never found the small discount worth worrying about “how” I’m driving my car.
Most of the technical questions can be answered by examining the policy itself, it’ll spell out in detail the process. Ask for a copy and read the fine print yourself.
You’ll find most calls just go to a call center so don’t expect any help beyond a simple quote.
A worthy discussion is how companies service customers and handle claims.
I’ve only ever totaled one car. My insurance company paid “market” value and sent me a large package on the analysis. We dickered on “condition”—I had pictures—and unique options and found an agreeable settlement.
I’ve looked at “collector” or agreed value insurance and never found the small discount worth worrying about “how” I’m driving my car.
09-10-2021, 12:28 PM
#47
Burning Brakes
Thread Starter
What people “pay” is pretty meaningless as each circumstance is as unique as DNA.
Most of the technical questions can be answered by examining the policy itself, it’ll spell out in detail the process. Ask for a copy and read the fine print yourself.
You’ll find most calls just go to a call center so don’t expect any help beyond a simple quote.
A worthy discussion is how companies service customers and handle claims.
I’ve only ever totaled one car. My insurance company paid “market” value and sent me a large package on the analysis. We dickered on “condition”—I had pictures—and unique options and found an agreeable settlement.
I’ve looked at “collector” or agreed value insurance and never found the small discount worth worrying about “how” I’m driving my car.
Most of the technical questions can be answered by examining the policy itself, it’ll spell out in detail the process. Ask for a copy and read the fine print yourself.
You’ll find most calls just go to a call center so don’t expect any help beyond a simple quote.
A worthy discussion is how companies service customers and handle claims.
I’ve only ever totaled one car. My insurance company paid “market” value and sent me a large package on the analysis. We dickered on “condition”—I had pictures—and unique options and found an agreeable settlement.
I’ve looked at “collector” or agreed value insurance and never found the small discount worth worrying about “how” I’m driving my car.
09-10-2021, 01:11 PM
#48
Rennlist Member
09-10-2021, 01:59 PM
#49
Burning Brakes
Thread Starter
I did and she said NO. BUT...it was his secretary....but she is one of those secretaries that run the place...the HMFIC! So she likely knows what she is talking about. But I will confirm again with him.
09-10-2021, 02:24 PM
#50
Burning Brakes
Agreed
Your first and last sentences somewhat contradict. And your last sentence contradicts in itself. And agreed value policy is usually a collector car policy and they will not insure your DD with it. It is either a collector...or a DD. By their definition, it cannot be both.
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.
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.
09-10-2021, 02:27 PM
#51
Burning Brakes
Thread Starter
09-10-2021, 02:42 PM
#52
Just got off the phone with my state farm agent and it will be about $1400 a year to insure a 2022 GT4 with pretty good coverage in Nevada which has high rates
09-10-2021, 04:00 PM
#53
Has anyone come across any kind of annual mileage limit on these cars through insurance, as they typically don't get driven much in comparison to most cars? I ask, as I do at least 10,000 miles per year.
09-10-2021, 06:06 PM
#55
Rennlist Member
09-10-2021, 06:42 PM
#56
09-10-2021, 06:50 PM
#57
Rennlist Member
So I'm just pointing out that with that coverage the car is only insured up to $100k and any loss in excess of that will not be covered. So if you have a low-optioned GT4 at $103k that isn't bad, but if it is highly optioned at $130k+ then that extra $30k+ is an uncovered loss to you IF you are unfortunate enough to have the car get totaled. It's up to each our financial situations and risk tolerance if you are willing to absorb that additional loss out of our own pockets or not.
I just got back from visiting a State Farm agent at people's recommendations here and he pointed out that around 80% of the driver's on the road only carry liability coverage limits at the legally required limit of $25k! That's all their insurance is going to pay on your car. That's were you need to at least make sure you have good uninsured/underinsured coverages in place.
The next tier of coverage State Farm had to offer above $100k jumped to $300k coverage limits by the way. Of course getting that raises the 6 month rates a fair amount.
I just got back from visiting a State Farm agent at people's recommendations here and he pointed out that around 80% of the driver's on the road only carry liability coverage limits at the legally required limit of $25k! That's all their insurance is going to pay on your car. That's were you need to at least make sure you have good uninsured/underinsured coverages in place.
The next tier of coverage State Farm had to offer above $100k jumped to $300k coverage limits by the way. Of course getting that raises the 6 month rates a fair amount.
Last edited by StormRune; 09-10-2021 at 06:54 PM.
09-10-2021, 07:42 PM
#58
Instructor
09-10-2021, 08:28 PM
#60
I've used State Farm for at least 30 years. In the past two years, they have become insufferable when a claim is filed. They basically want every repair done by one of their shops and won't even visit two of the three Porsche certified repair shops in town to do an estimate or an adjustment. Then they say upfront that they won't pay the full cost of the repair and the customer will be stuck with the difference between their estimate and the final bill. I'll be shopping around if my new car ever gets here.