ca993twin

Hi,

Just thought I'd toss this out there for your thoughts and comments. Presently I am insured with AAA for 2 cars (Rufus and beater Scion), Homeowners, and an Umbrella policy. AAA does not provide any stated value insurance, which left me a tad nervous with Rufus, and I started looking around.

If I move everything over to State Farm, they will provide an $80,000 stated value policy for Rufus for $370/ year. The only condition is that I keep the miles down to about 2500 or so per year, and this will be evaluated yearly.

This not only saves me a lot of money,but gives me more peace of mind should a disaster strike Rufus. I will probably sign up tomorrow, unless you guys have any arguments against.

Thanks.

Bradford

Wow, that's a great price. I am already with State Farm with an umbrella, the 993 is considered an extra car, low mileage and I am paying almost $1000 per year. Are you sure that isn't $370 every 6 months?

P-daddy

$370/Yr is insanely low My insurance is with Erie, and I pay $670/yr as long as I keep the miles below 8500. They don't have any mileage limit less than that as I drive less than 1k/yr.

CorrdoBrit

Make sure you know what other restrictions are placed on usage besides that annual mileage limitation. For example if you use it to commute occasionally will it be covered in the event of an incident.

As others have said that premium is hard to beat. But just be careful. Sometimes theres a reason they're so low. When you come to make a claim they can play hard ball. Ask me how I know. I wouldn't insure anything with SF ever again.

2Many Cars

That does sound kinda low but it also depends a lot upon where you live. Half the Santa Cruz residents drive old VW busses so you've got a lot of time to get out of the way if you need to. Must be a factor.

Steve, just make sure the 2500 mile limitation is the only limitation. Some policies won't cover you if you are under that limit but drive to work on occasion. It's all about reading the fine print and documenting everything (like taking periodic photos of the car - with a current newspaper to document the date) even though it's agreed value. Better safe than sorry.

BLT4SPD

Data point: Barney is with Hagerty with a $70,000 stated value for ~$900/year. My 356 is with Hagerty with a $35,000 stated value for $300/year. Both vehicles have 2500 mile annual limits.

solomonschris

That is a great price. I must say that in my boat yard we ended up refusing to do any insurance repair work for our customers with State Farm. I don't know if this is a regional, or nationwide situation but they were hands down the worst company for us to work. The experience I have had with Grundy Worldwide concerning the Vegas vandal damages has been terrific, however, I am paying $1,285 for no mileage limit, 80K agreed and zero track (even DE) or rally. Just my experience......Chris

DC from Cape Cod

FYI - car insurance prices vary based on where you live...making it virtually impossible to compare premiums unless you live in the same zip code.

Magdaddy

I'm with a semi local NY insurance co named Preferred Mutual, been with them for many years now.

I couldn't do any agreed value with them, without a mileage limitation. I simply won't do a mileage limit...I've put 18K on the car since getting it in May of 2010...and don't forget I get winter months here in Central New York.

Not a fair comparison on the other side of the country and all...but I pay $712 per year, full coverage and a $250 deductible.

Cheaper that my wife's new 2012 Mini Countryman S ALL4 by almost $150.

If the coverage is good, and you can live with only driving Rufus that little in 12 months...sounds like a nice deal.

csertich

Can you say out of your car for less than 2500 miles/yr? Could be tough-such a nice car!
chuck

RJT

That's what I was thinking!

We are with Shelter at an agreed value (not as valuable as Steve) with unlimited mileage and no restrictions for $400 per year.

Floodj

I have heard from other folks that State Farm is inexpensive, but all the bad experiences make me hesitant to go with them. Right now the 993 is with USAA under a standard policy and my primary driver. The 356 is with Hagerty for about $350 per year, which includes occasional commuting, which is nice because both my wife and I drove her today just because.

ca993twin

Thanks for all of the valuable insights. I didn't realize that State Farm has a bad reputation. Now that my road trip buddy, Terry Adams, has deserted the SF bay area and is living in North Carolina, 2500 miles will be pretty close. The agent assured me that the car would be covered, even if I went over the mileage, but after a year or two of going over, they might cancel. Hmmmmm. I'm not sure what to do.

Terry Adams

One trip to Colorado with me and yer done.

[IMG]

Slow Guy

I've been with State Farm for over 25 yrs., very minimal claims though (house, all cars, umbrella & pers. articles policy's). I've always heard SF is OK to work with on claims.

One of the reasons they tend to be cheaper on quotes is the number of policy's the have.

If the problem is with boat coverage, that I understand. When I lived in FL my boat was the only thing I didn't cover with them (agent told me they didn't like dealing w/ boats, too high a ratio of claims).

My SF coverage allows 7,500 mi. per year but I don't have stated value.