rockitman

Not sure how you car is rated on the policy..ie: daily driver based on commute distance each way vs pleasure rating. Depends how many drivers are in the household. I have been with Liberty Mutual for 15 years. I am the only driver of both vehicles and the GT3 has a pleasure use rating...fitting don't you think ? Anyways I pay about $1950 for both of which the GT3's portion is $700. That 500/1000 comp/coll deducts and 250K/500k autoliabilty. Give liberty a call.

Cupcar#12

is that per year or every 6 months?
asking b/c i am @ 3200/year for all 4 cars (996,356, TLC, A4) with nationwide
clean record last 6 years, house,umbrella, etc all with them.
the service in Wa is iffy and i'm shopping around for a better company to deal with (long story)

rockitman

Per year...Cayenne TT and GT3. I'm fortunate and careful...I really need to get to the track. Lots of pent up energy

C2 Turbo

Was with AIG for 4 years no claims,well one day got hit by another car ( not my fault ) although AIG took care of the repair bills ( the other party was under insured ) but it didn't take them too long to drop my coverage
Guess what,6 months later i bought a well established medical practice and ended up getting little over 3 million dollars accumulative coverage policy thru Kentucky Farm bureau So you tell me who lost out here i would say AIG

rockitman

AIG sux and it looks like the former Chairman is a crook. I used to have a commercial insurance career. AIG wrote one of my bigger FOB truckers. It was responsible for about 25K in income to me. They had some claims and AIG jacked their rates so high they left me for a competitor. It is a company that fails to understand the word loyalty...They are in it for the quick buck...

Niels Jørgensen

FWIW: I had AIG for my first car. Had a small accident (of which I paid half the cost myself due to a clause in the contract I didn't think was important at the time). They doubled the price the following year, knowing that a first-time car owner with no other insurances would have a hard time finding another insurance company.

If that's how insurance works, I'd be better off putting my money in a savings account.

Obviously, I stopped using them, and have since been very carefull in selecting insurance companies, the lessons I've learned are:

1) Never take on-line quotes - they're almost always worse than what you'll get over the phone, and ALWAYS worse than what you'll get from face-to-face negotiation. Call sales reps of the potential companies and setup personal meetings - it takes time, but IMO it's worth the effort. (And I suck at negotiating).

2) Always throw as much at them as humanly possible - they like to spread the risk, so more policies means lower price. Consider this even if it means adding something you don't really need. A life insurance or a pension for example can be almost "free", and I'd rather put money in a pension than in insurance company pockets.

3) None of the rules or regulations (such as how previous accidents affects your policy) are laws. They are, at best, guidelines and can be bend or broken as long as they see you as an asset rather than a liability.

Phokaioglaukos

Thanks to all who offered comments and suggestions, especially Larry Miller for the name of his State Farm representative. After talking with all the major auto insurers, and several of the minor ones, too, I'm moving my auto, motorcycle, home and umbrella policies to Larry's State Farm guy. The combination of a MY05 GT3, two motocycles and a 17-year-old daughter about to get her license made State Farm the best option by a goodly margin. It's not cheap, but it's better than the alternatives.

My insurance broker assured me that AIG would be happy to keep my GT3 on a policy, but not with the "division" that currently has my business but with their Private Client Group. Of course the rate, with my daughter licensed, goes through the roof!

Fireman's Fund was the second choice. They offered agreed value coverage, which I've never had and which did appeal, but for a new car like the GT3 that did not seem to be necessary, and it was a good bit more expensive (more than $1,500/year more).

That State Farm covers DEs was icing on the cake!

JS

I would clarify that.

Rolo

Its pretty clear. State Farm covers you at DE's

Phokaioglaukos

The agent for State Farm was clear: DEs are covered. He has insureds who have had DE mishaps and State Farm has paid.

BC

I wanted to advise here that you would want to check the policy in your own hands, as each STATE will have different exclusions even within the same company. Also, read the 3rd class mailings that each of your carriers send out occasionally, as they will individually CHANGE or modify clauses that could be very important to your specific uses.

Oh, and shopping for insurance by price is like going in for a heart transplant and asking for comparing quotes from a few doctors. Would you?

Larry Herman

State Farm paid when my son dinged my GT3 at a DE, but since then I decided to spend the money for specific DE insurance. It was only $1500, but it provides me with a safety net in case I should have a problem, and limits State Farm's exposure to only $20,000.

ltcjmramos

Who is the carrier? Is the $1500, per year or per event?

Larry Herman

Joe, it is American Collectors Insurance in Cherry Hill, NJ. Click here for their web-site. The cost for DE's is 1.5% of the agreed value of the car, up to $100,000, with a 20% deductible for on-track incidents, for the season. You must have 10 years of driving experience.

Flying Finn

Problem with those (for me) is that our family on has two vechiles, my 993 and wife's XC90.
And even though I commute (they don't allow commute with colletor car) with bicycle, they don't count that.

In other words, I need to buy one extra vechile to be able to insure my 993 with collector car insurance.

Or are there collector insurance companies that don't require that?