Insurance rates?
01-26-2010 | 01:50 AM
#16
Racer
Joined: May 2009
Posts: 385
Likes: 0
From: Charlotte, NC
Check out American Collectors Insurance. Rated as one of the best, have been around for a very long time. Have 2500, 5000 and 7500 mile limitations, roadside assistance, etc. No one with less than 10 yrs driving exp. can drive. Told my daughter sorry. I have the 100/300k coverage with full coverage, 0 deductible, 2500 mile limit for about $280 per year. I think she said 5000 mile was about $330.
I use American Collector's as well...full agreed upon value coverage with the 5000 mile yearly limit costs me $260...very nice people to work with as well.
-Mark
01-26-2010 | 03:43 AM
#17
Pro
Joined: Jul 2007
Posts: 613
Likes: 0
From: Santa Barbara, CA
I've been able to keep mine under a collectible-car state farm policy. Requires that I have another car insured with them as my daily driver, photo documentation, assorted reasons why it's rare, and a bit of help from my agent massaging the keyboard. Costs almost nothing - three hundred a year last I checked.
01-26-2010 | 11:10 AM
#18
Rennlist Member
Joined: Dec 2004
Posts: 3,413
Likes: 473
From: West Chester, PA
Sanjay,
I too use American Collectors. I have 4 cars insured with them, a '94 GTS, two Mercedes and an Alfa. Total bill for a year is less than $1000. Have two other cars insured with Allstate - '89 928 and a Lexus. That bill is significantly more!!! American Collectors won't insure the '89, as I drive that on a track.
Gary Knox
I too use American Collectors. I have 4 cars insured with them, a '94 GTS, two Mercedes and an Alfa. Total bill for a year is less than $1000. Have two other cars insured with Allstate - '89 928 and a Lexus. That bill is significantly more!!! American Collectors won't insure the '89, as I drive that on a track.
Gary Knox
01-26-2010 | 11:34 AM
#19
Rennlist Member
Joined: Nov 2006
Posts: 14,559
Likes: 2,480
From: Pittsburgh, PA
I too use Haggerty, and insure for a stated value. I pay less than $300/yr. for full coverage (just like on my other cars). I've had a claim too, and they were very easy to work with; no problems. I use less than 5k a year miles, but Haggerty does'nt have a strict mileage limit.
01-26-2010 | 01:26 PM
#20
Burning Brakes
Joined: May 2009
Posts: 923
Likes: 2
From: Pismo Beach, CA
That's pretty high Sanjay! Are you sure you not 16 years old !!! 
I'm 1 year older than you. Pleasure car, full coverage, - $280 per year w/ Mercury.......
'89 S4 GP White/Black
'912E Silver/Black sunroof
I'm 1 year older than you. Pleasure car, full coverage, - $280 per year w/ Mercury.......
'89 S4 GP White/Black
'912E Silver/Black sunroof
01-26-2010 | 01:32 PM
#21
Rennlist Member
Joined: Sep 2003
Posts: 669
Likes: 0
From: Mansfield, TX
I too use Haggerty, and insure for a stated value.
Hagerty sells "agreed value" not "stated value".
You NEVER want to buy a "stated value" policy.
Stated value means you tell the insurance company what you think the car is worth and they use that number to set your premium but if you have a loss they only pay actual cash value.
Agreed value means that in case of a total loss they pay the agreed amount on the policy.
Stated value is very very bad.
01-26-2010 | 01:47 PM
#22
Administrator
Joined: Aug 2001
Posts: 1,643
Likes: 2,259
From: Up Nort
With a multi-vehicle discount for seven cars, I pay less than $300 for six months for each 928 with full coverage.
I have collector insurance on my replica Cobra with an agreed value, costs
about $250ish per year. Only catch is "daily driver" us is a no-no.
about $250ish per year. Only catch is "daily driver" us is a no-no.
01-26-2010 | 01:54 PM
#23
Thread Starter
Instructor
Joined: Jan 2010
Posts: 163
Likes: 0
From: Charlotte, NC
I spoke to Hagery and they are around $300 annually (pending approval). For those of you who do not use the 928 as a daily driver...how many miles do you think you out on every year?
01-26-2010 | 01:58 PM
#24
Burning Brakes
Joined: May 2009
Posts: 923
Likes: 2
From: Pismo Beach, CA
'89 S4 GP White/Black
'76 912E Silver/Black sunroof
01-26-2010 | 02:33 PM
#25
Instructor
Joined: Jan 2010
Posts: 134
Likes: 0
From: South Bay, California
Hi all, I did a search for this, but the results were 3 to 4 years old - I want some current figures from anyone willing to share them...
I received a quote from Progressive Insurance for coverage on my '88 S4; the rate is aproximately $1300 for 6 months ($2600 yearly). This seems high - I haven't paid rates like that since I was single and in my 20's. I am 42 y.o. and have 2 tickets on my record (1 ticket will be removed in a few months).
Also, while searching RL, I found some references to "Market value" vs. "Stated value". Any suggestions on this and deductibles.
(I have my home insured with State Farm and should be getting a quote from them tomorrow). Thanks in advance.
I received a quote from Progressive Insurance for coverage on my '88 S4; the rate is aproximately $1300 for 6 months ($2600 yearly). This seems high - I haven't paid rates like that since I was single and in my 20's. I am 42 y.o. and have 2 tickets on my record (1 ticket will be removed in a few months).
Also, while searching RL, I found some references to "Market value" vs. "Stated value". Any suggestions on this and deductibles.
(I have my home insured with State Farm and should be getting a quote from them tomorrow). Thanks in advance.
01-26-2010 | 02:37 PM
#26
Rennlist Member
Joined: Sep 2003
Posts: 669
Likes: 0
From: Mansfield, TX
Although the nice thing is it covers your car at "Stated value".
They don’t allow using the car to drive to work or use for running errands.
Cars were made to be driven. So our policy allows for an occasional leisure drive, not just to parades or car events. We encourage limited pleasure use with no fixed mileage limits.
01-26-2010 | 02:44 PM
#27
Instructor
Joined: Jan 2010
Posts: 134
Likes: 0
From: South Bay, California
Don't mean to nit pick but some may not know the difference.
Hagerty sells "agreed value" not "stated value".
You NEVER want to buy a "stated value" policy.
Stated value means you tell the insurance company what you think the car is worth and they use that number to set your premium but if you have a loss they only pay actual cash value.
Agreed value means that in case of a total loss they pay the agreed amount on the policy.
Stated value is very very bad.
Hagerty sells "agreed value" not "stated value".
You NEVER want to buy a "stated value" policy.
Stated value means you tell the insurance company what you think the car is worth and they use that number to set your premium but if you have a loss they only pay actual cash value.
Agreed value means that in case of a total loss they pay the agreed amount on the policy.
Stated value is very very bad.
01-26-2010 | 02:47 PM
#28
Instructor
Joined: Jan 2010
Posts: 134
Likes: 0
From: South Bay, California
01-26-2010 | 02:55 PM
#29
Rennlist Member
Joined: Sep 2003
Posts: 669
Likes: 0
From: Mansfield, TX
Both told me they would pay out at the valued stated or agreed on. I'm I missing something.
What they told you is correct, with an agreed value policy they PAY OUT on the agreed or stated value. But the "proper" term is agreed value.
Stated value policies are as I explained, very very bad and in my opinion borderline fraud.
Agreed value is different, that's what you want.
Subtle wording but HUGE differences if you have a claim.
01-26-2010 | 02:58 PM
#30
Instructor
Joined: Oct 2009
Posts: 100
Likes: 1
From: Ontario,Canada
I'm with State Farm.Insurance runs me $1078/year with 1 million liability/500 deductible,emergency road service/car rental ect.Thats with a discount for multiple cars and also having home insurance with them,6 star driver no claims, over age 50 ect.Good insurance ain't cheap!