Geico will not renew my GT2 insurance!
#3
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Join Date: Aug 2012
Location: Houston, Texas
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No loss as far as im concerned
We had a similar issue and it was actually a godsend the rate im now paying is half of standard insurance. We use a specialty collectors car insurance policy for the GT2 it has unlimited mileage but requires it be garaged (Like we leave them out) garage must be locked (ah) and drivers must be disclosed. finally you cant drive it for work (not sure =who would but..) carrier is
LELAND WEST PHONE 800.237.4722
Rate in Texas full coverage stated value in excess of 70 is less than 2k a year. Way less.
We had a similar issue and it was actually a godsend the rate im now paying is half of standard insurance. We use a specialty collectors car insurance policy for the GT2 it has unlimited mileage but requires it be garaged (Like we leave them out) garage must be locked (ah) and drivers must be disclosed. finally you cant drive it for work (not sure =who would but..) carrier is
LELAND WEST PHONE 800.237.4722
Rate in Texas full coverage stated value in excess of 70 is less than 2k a year. Way less.
Last edited by Vonschmidt; 09-20-2013 at 12:06 AM.
#6
Geico and Progressive are two worst auto insurance companies out there and ask any high end body shop if you don't believe me.
I would dump Geico in a heart beat and would also move other policies from this ****ty company too
I would dump Geico in a heart beat and would also move other policies from this ****ty company too
#7
Rennlist Member
Thread Starter
Thanks for all the comments. I will check with the companies mentioned here and will not renew any policy with Geico. Guess the Gt2 got dropped because of a pre existing condition: hyperfast with hypo-electronics
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#10
Rennlist Member
Thread Starter
#11
AIG covers all of our cars on an 'agreed value' basis (even the nannymobile). Whenever I "upgrade" a car, I send them the receipt for the work and they increase the agreed value by that amount for the appropriate premium charge.
Avoids any headaches; especially given the vast majority of insurers will look at blue book and not include the value of mods in the event of a loss. As an example, my last roommate had $40K into the motor of his 911 Turbo and when it was stolen, they only paid him the blue book value on the car. Forced him into personal bankruptcy
Avoids any headaches; especially given the vast majority of insurers will look at blue book and not include the value of mods in the event of a loss. As an example, my last roommate had $40K into the motor of his 911 Turbo and when it was stolen, they only paid him the blue book value on the car. Forced him into personal bankruptcy
#12
Rennlist Member
These companies are in the business of making money.
Yours was a business decision. Having worked in the industry for many years you are subject to the work of actuaries, underwriters and accountants who make the decisions based on loss ratios and/or potential for loss.
A lot of them can be difficult to deal with in the event of an accident. Many insurance companies have put together networks of body shops that are "theirs". Virginia has a law against "steering" so people can still choose their own shop. That doesn't make it easier as they still like to play hardball on "time/materials".
Most independent body shops that do quality work cannot compete with the assembly line shops that imho generally turn out less quality work.
As for insurance if you can qualify for a collector policy the monies saved is substantial.
Yours was a business decision. Having worked in the industry for many years you are subject to the work of actuaries, underwriters and accountants who make the decisions based on loss ratios and/or potential for loss.
A lot of them can be difficult to deal with in the event of an accident. Many insurance companies have put together networks of body shops that are "theirs". Virginia has a law against "steering" so people can still choose their own shop. That doesn't make it easier as they still like to play hardball on "time/materials".
Most independent body shops that do quality work cannot compete with the assembly line shops that imho generally turn out less quality work.
As for insurance if you can qualify for a collector policy the monies saved is substantial.
#14
Rennlist Member
try Haggerty insurance they insure classic cars etc, I use them to insure my 2010 GT3
#15
Three Wheelin'
I use Travelers, policy does not have restriction for track either.