I have bundled home/auto and while the daily SUVs get driven frequently, the specialty cars get driven infrequently - maybe 1,000 miles a year - maybe less. Does anyone bifurcate their auto insurance where the specialty rarely-driven cars are with a separate specialized insurance company?

I use Nationwide and even if I don't drive a car at all, the annual premium for full coverage can be $2k per year to just sit in my garage. No points/infractions on the driving record so you'd think the insurance would be a lot lower for a car that is rarely driven. But that's how Nationwide does it so I'm guessing I'm just throwing money away. My insurance person was no help but figured the Rennlist brain trust has a work-around.

Cheers.

 

You should be able to put a car into "storage mode" if you're not driving it which essentially removes your collision coverage off of it.

You can also look into a specialty policy with Hagerty (has always been very pricey in my experience), Chubb or Cincinnati. Chubb and Cincinnati is going to want your full portfolio of insurance needs, not just your car.

https://www.porscheautoinsurance.com is another choice and available in CA. Pay per mile. Reasonable rates from what I've seen in quotes for myself and a friend.

Obviously rates are also very dependent on your particular situation (violations, ZIP code, credit score etc).

 

I actually have a slightly different but related question.

Lots of folks use Hagerty or Grundy for classic or specialty car insurance and seem to love it (and it seems VERY affordable). But how does that work with Umbrella policies? Do you just have to agree to have those cars excluded from your umbrella policies or have you found a way to get them included even though the primary insurance is with a different carrier from the umbrella?

 

What he said my insurance allows me to remove collision and liability but it has to be for a min of 30 days. I do this for the winter and saves about $500 a year on a 1.2k premium. I find the collector car policies to be a little expensive. If you have a good agent they should be able to find a better policy for you.

 

I have had the same thoughts. I have a brand new 718 Spyder, a '21 CGTS4.0, and a '19 991.2 GT3RS WP as well as 2 DD (new Honda Accord & VW SportWagen) and an old truck for hauling stuff and pay almost $9K/yr in auto insurance w/ USAA, bundled w/ home insurance and renter insurance for my tenant house. (One reason for the high cost is that my husband totaled my '19 Cayman S by slipping on wet leaves and veering off the road onto a lawn, bending the frunk.) Granted, I have low deductibles and almost max insurance on everything, but that's a lot of money for auto insurance.
The problem with Hagerty is that they want low miles, but I want to drive my toys. My husband and I put 7K miles on the 718 CGTS since we got it in 3/21, 3800 miles on the C8 HTC since it was built last July which I sold for the Spyder last week, and as the sole driver of my 3RS, I clocked 1500 miles in the past 6 weeks after buying it. (God, what a blast!) I guess the total miles of driving will be spread out among the 3 cars, so maybe Hagerty would work.
If anyone has any advice, I sure would appreciate it.

 

9k seems incredibly cheap for ~600k in cars + a house, its contents and a tenant.

 

The auto insurance alone is $9K, just bundled w/ the same company that insures my houses.

 

I have had USAA off and on for many years I have never used the for my home insurance as they were incredibly high always on every quote. For auto the last few times they have been very high. Again I highly recommend getting an insurance agent that will do the leg work of getting multiple quotes. Also there are a lot of very good insurance companies that only sell through brokers

 

I just received a quote from Grundy and they also offered me a 5 million dollar umbrella for a mere 500.00 per year. The only caveat to Grundy is that they want at least one daily driver thrown into the mix with the fast / collector cars that you are insuring.

 

I have nationwide on the daily cars and American modern on the gt3. They are in the same group so I was able to get the bundle discount.

 

Thanks for the tip! I contacted my insurance agent and they looked into it and will be providing a quote for two of my rarely-driven cars using American Modern. The only hitch is they have to be garaged, which isn't a problem for me.

 

Nationwide told me only the cars on my nationwide policy would be covered under their umbrella.

Can you clarify if their umbrella only covers the grundy cars?

 

Hope this is helpful to someone. Had a friend send me this for insuring a classic bronco that I need a stated or agreed value policy on. 👍

 

Thanks. This is very helpful.

Need to be careful with the Stated Value vs Agreed Value though. Not the same. If you have Stated Value the insurance company will pay out the LOWER of the Actual Cash Value or the Stated Value.
Agreed Value means that in the event of a total loss the insurance company will pay you that amount regardless of the Actual Cash Value at the time of the loss.

I don't believe State Farm does Agreed Value as stated in the grid you provided. I think they only do Stated Value based on my recent conversations with them.

 

USAA allows you to put cars in "storage" for up to 6 months at a fraction of the typical rate. You have to turn it back on the day before use so I used it in WI for the winter but now that I live in FL I just pay the bill. I do have my modern cars, including the P Cars on USAA and the older cars at Hagerty. I agree with the comment above, USAA for homeowners is a joke in terms of rates.